MT4 Indicator requests and ideas

TransparentTrader wrote: Sat Mar 21, 2026 5:31 am Request: ATR% Multiple From 50-MA [TradingView]

This is an indicator I found while looking for novel approaches to mean reversion.

From the TradingView description:

How can one measure stock price extension?

In my view, decision-making in the trading business should rely on quantifiable data. A method I personally employ for scaling out and taking partial profits involves setting a threshold based on the multiple of Average True Range (ATR%) from the 50-day Simple Moving Average (SMA). For instance, I find it beneficial to start taking profits when positions exceed 7-10 times the ATR% from the 50-SMA. This practice helps prevent second-guessing or becoming emotionally attached to any particular position.

A relevant example illustrating this concept is the case of PLTR, SOFI, TSLA, VRT, NVDA which experienced a stall and subsequent decline after exceeding 10 times the ATR% from its 50-day moving average.

While there is no foolproof profit-taking mechanism that guarantees selling at the absolute market peak, employing this strategy can be a valuable tool for scaling out profits during extended periods to minimize potential losses.

The code is protected, but the formula is provided in the description:



Screenshot 2026-03-20 142938.jpg

I should note one person suggests there would be a better way to do the calculations:



I'm interested in porting this indicator to MT4 for a few reasons.

I want to see how this indicator will behave on timeframes lower than the daily charts. I also want to see how it will behave with other instruments such as forex, futures, and commodities.

Additionally, this indicator is used to show when an asset is heavily over-bought (tops), but I wonder if it can be used in the opposite direction to show when an asset is heavily over-sold (bottoms).

More information can be found in this Substack article written by the author of the indicator, at point #2.

I believe there's an alternate version of this indicator (also a protected script) that plots the extremes in a separate window instead of on the chart, and in an oscillator fashion.

Thanks for all your help in advance!

kvak wrote: Wed Apr 08, 2026 9:10 am I am not sure how close it is to your idea but try...

TransparentTrader wrote: Wed Apr 08, 2026 1:46 pm What's the difference between the top and bottom sub-window for the indicators, and what settings did you use to make them different from each other?

I will definitely give this a go and see how it compares to the original indicators on TradingView.

Daniel1fx1 wrote: Wed Apr 08, 2026 12:44 am Hello, is it possible to update/improve this gold currency strength meter?
From the images I saw is very good at predicting reversal points.

The lines appear but also stop showing.

Here are some notes of the developer that shared the indicator:

Code: Select all

Done some updates on my Currency Strength Oscillator (CSO) to includes 3 pairs of gold (XAUAUD, XAUEUR, XAUUSD) in the calculation
and wanna share this just in case anyone interested to use it.

some notes :
1 ) check the pair required in the calculation to avoid error. just to clarify, I'm using IC Markets ECN 5 digits. if your broker doesn't have the
required pairs, delete whatever necessary and make adjustment to the calculations as needed.

2) ensure the required data to be loaded first (all required pairs >> open the chart for all tf) before first time using this indicator to avoid
divide by zero error.
I'm simply too lazy to make the workaround to avoid this. this happens coz the chart wasn't open like ever... should be fine afterwards.

3) numbers of bars lookback should be considered in advance coz the higher the numbers, more computing power will be required
(your pc could run slower). the default is 30 bars and you can change this as needed.

Thank you.

lyo99 wrote: Sat Apr 11, 2026 7:39 pm Добрый день
Может кто-нибудь помочь, вывести параметр в настройки индикатора размер стрелок
Буду очень признателен

Hello
Can anyone help me set the arrow size parameter in the indicator settings?
I'd be very grateful

kvak wrote: Sat Apr 11, 2026 10:18 pmTry....