Something interesting from Chatgpt/AI please post here

My BB Volatility Excess — Bollinger Bands Volatility Reversal Indicators (MT4)

Hi everyone,

Sharing two custom MT4 indicators built around the same core concept: detecting volatility excess on Bollinger Bands and flagging potential mean-reversion zones.

Core logic:
The indicator measures how far price closes beyond the Bollinger Bands, expressed as a percentage of the current band width (not just "above/below the band" — it's normalized against the current volatility regime). When that excess crosses a threshold:

Upside excess → SELL signal (price overextended above the upper band)
Downside excess → BUY signal (price overextended below the lower band)

I'm running two versions, for two different purposes:

Volatility Excess — my go-to for intraday scalping. Faster, more reactive, tuned for catching short-term overextensions on lower timeframes.

Volatility Excess 2 — includes an RSI confirmation filter (Sell only above 70, Buy only below 30) plus a "confirm on closed bar only" option to cut down on repainting/noise. This is the one with the blue and magenta arrows, and I use it specifically for spotting longer-term trend reversal zones rather than quick intraday entries — the RSI filter makes it noticeably more selective.

Both use the same underlying excess-detection math, just calibrated differently depending on the timeframe/use case.

xiannan wrote: Fri Aug 07, 2026 12:09 am Can Master pelle make an mt4 version? I also want to ask if this indicator can be used for currency Foreign exchange dollars against pounds or dollars against yen.

The departure was delayed past the weekend.

Did you perhaps mean this? https://www.tradingview.com/script/8827 ... age-Based/

Below is the version from Claude Code; I cannot test it myself right now because I still don't have any crypto in my MT4 account.

# FinsburyPark2_updown — Extreme Volatility + Simultaneous Volume Spike Detector_NO REPAINT (MT4)

Hi all,

Sharing a custom indicator I've been refining — **FinsburyPark2_updown**. It's built around a fairly simple statistical idea: real reversal moves tend to happen when an extreme price move and an extreme volume move occur **on the same bar**, not just one or the other. Most "spike" indicators only look at price; this one requires both to line up before it calls anything a real signal.

**How it works:**

1. **Price spike (ATR-based):** the bar's range (high–low) is compared to the current ATR. If the range is a large multiple of ATR (default 2x), it's flagged as an abnormal bar.
2. **Direction via wick rejection:** rather than just using candle color, it checks which side got rejected — a long lower wick (≥50% of the bar's range by default) signals a bullish rejection → Buy; a long upper wick signals bearish rejection → Sell.
3. **Volume confirmation (z-score, not just "above average"):** it computes the mean and standard deviation of volume over a lookback window, then requires the spike bar's volume to be a set number of standard deviations above that mean (default 2.0σ) — a proper statistical outlier test rather than a fixed multiplier, so it adapts to each instrument's own volume behavior.
4. **Optional extra filters:** Bollinger Bands excess (price must actually be outside the bands), RSI extreme, EMA trend alignment, session/time filter, and a cooldown between signals to avoid clustering.

**Visuals:**

- **Main chart:** small arrows mark every detected signal — **cyan = Buy**, **red = Sell**.
- **Separate subwindow:** a volume histogram that stays flat except on genuine statistical spikes (color-coded cyan/red by direction), with a mean line and a dotted statistical threshold line for reference. On volume-confirmed spikes, a small stack of markers plus a star appear right at the peak — a quick visual "this is where price and volume lined up."

Everything runs through native MT4 buffers/objects — no DLLs.

Happy to share the full parameter list or discuss the volume z-score logic further if anyone's working on something similar. Feedback and suggestions welcome, especially from anyone who's tested volume+volatility confluence approaches before.

Pelle wrote: Sun Aug 09, 2026 2:19 am The departure was delayed past the weekend.

Did you perhaps mean this? https://www.tradingview.com/script/8827 ... age-Based/

Below is the version from Claude Code; I cannot test it myself right now because I still don't have any crypto in my MT4 account.

Hello Pelle , the mt4 version is not quite working like the mt5 version. It show question marks instead of arrows. Can you fix this ? Sarju

Finsburypark2 wrote: Sat Aug 08, 2026 11:33 pm My

BB Volatility Excess — Bollinger Bands Volatility Reversal Indicators (MT4)

Hi everyone,

Sharing two custom MT4 indicators built around the same core concept: detecting volatility excess on Bollinger Bands and flagging potential mean-reversion zones.

Core logic:
The indicator measures how far price closes beyond the Bollinger Bands, expressed as a percentage of the current band width (not just "above/below the band" — it's normalized against the current volatility regime). When that excess crosses a threshold:

Upside excess → SELL signal (price overextended above the upper band)
Downside excess → BUY signal (price overextended below the lower band)

I'm running two versions, for two different purposes:

Volatility Excess — my go-to for intraday scalping. Faster, more reactive, tuned for catching short-term overextensions on lower timeframes.

Volatility Excess 2 — includes an RSI confirmation filter (Sell only above 70, Buy only below 30) plus a "confirm on closed bar only" option to cut down on repainting/noise. This is the one with the blue and magenta arrows, and I use it specifically for spotting longer-term trend reversal zones rather than quick intraday entries — the RSI filter makes it noticeably more selective.

Both use the same underlying excess-detection math, just calibrated differently depending on the timeframe/use case.

your indicator is not causal

you don't use series in the main loop, but never declares the arrow buffers as non series.
As a rule of thumb I would use series on MT4 but not MT5. This should prevents causality errors

Finsburypark2 wrote: Mon Aug 10, 2026 7:13 pm # FinsburyPark2_updown — Extreme Volatility + Simultaneous Volume Spike Detector_NO REPAINT (MT4)

Hi all,

Sharing a custom indicator I've been refining — **FinsburyPark2_updown**. It's built around a fairly simple statistical idea: real reversal moves tend to happen when an extreme price move and an extreme volume move occur **on the same bar**, not just one or the other. Most "spike" indicators only look at price; this one requires both to line up before it calls anything a real signal.

**How it works:**

1. **Price spike (ATR-based):** the bar's range (high–low) is compared to the current ATR. If the range is a large multiple of ATR (default 2x), it's flagged as an abnormal bar.
2. **Direction via wick rejection:** rather than just using candle color, it checks which side got rejected — a long lower wick (≥50% of the bar's range by default) signals a bullish rejection → Buy; a long upper wick signals bearish rejection → Sell.
3. **Volume confirmation (z-score, not just "above average"):** it computes the mean and standard deviation of volume over a lookback window, then requires the spike bar's volume to be a set number of standard deviations above that mean (default 2.0σ) — a proper statistical outlier test rather than a fixed multiplier, so it adapts to each instrument's own volume behavior.
4. **Optional extra filters:** Bollinger Bands excess (price must actually be outside the bands), RSI extreme, EMA trend alignment, session/time filter, and a cooldown between signals to avoid clustering.

**Visuals:**

- **Main chart:** small arrows mark every detected signal — **cyan = Buy**, **red = Sell**.
- **Separate subwindow:** a volume histogram that stays flat except on genuine statistical spikes (color-coded cyan/red by direction), with a mean line and a dotted statistical threshold line for reference. On volume-confirmed spikes, a small stack of markers plus a star appear right at the peak — a quick visual "this is where price and volume lined up."

Everything runs through native MT4 buffers/objects — no DLLs.

Happy to share the full parameter list or discuss the volume z-score logic further if anyone's working on something similar. Feedback and suggestions welcome, especially from anyone who's tested volume+volatility confluence approaches before.

These are the non repainting, correctly working versions of the indicators. They look very different.

Mescalito wrote: Wed Aug 12, 2026 6:16 am These are the non repainting, correctly working versions of the indicators. They look very different.
BB_Volatility_Excess_2fixed.mq4
FinsburyPark2_updown fixed.mq4
indis.png

Thank you for help me, but now I’ve been working on a custom swing-reversal indicator designed to identify potential market highs and lows through a mathematical approach to price extension and volatility.The indicator measures price extension from a long-term basis, normalizes the movement using ATR, and identifies extreme areas where a local swing may be developing.I currently use three signal levels:Level 11 = early warning.Level 12 = intermediate swing signal.Level 14 = strongest swing signal.BUY and SELL signals have different colors and the histogram remains hidden most of the time.It becomes visible only when the wave enters the extreme area and remains visible until the wave exits that zone.The system also includes a trend regime filter based on ADX and EMA 200.When ADX is below the strong-trend threshold, Levels 11, 12 and 14 can operate normally.When ADX is above 28 and price is clearly above or below the EMA 200, the market is considered strongly directional.In this situation I try to filter most counter-trend signals at Levels 11 and 12.Level 14 remains the main reversal signal.When ADX rises above 35, a Level 14 counter-trend signal also requires price to be sufficiently extended from the EMA 200 relative to ATR.I also introduced a reset mechanism.After a BUY signal, another BUY should not be generated until the wave cools down and falls below a reset level, currently around 8.The same logic applies to SELL signals.This “one swing per market leg” concept was introduced specifically to reduce clusters of repeated signals.The indicator is designed to be non-repainting.Signals are generated only after the candle has closed and the calculation uses historical data causally, without future bars generating past signals.The Level 14 signal is also displayed on a dashboard showing BUY or SELL direction, signal date and closing price.Below it I display the latest Level 12 minor trend signal, while a magnified live market price makes it easier to compare the current price with the last swing signal.In my tests the indicator is performing very well during sideways and ranging market conditions.The swing points are often identified very effectively and the 11/12/14 structure gives a useful indication of how extreme the movement is.The main problem I still need to solve is strong directional trends.During powerful trends the indicator can generate several counter-trend signals because the market remains statistically overextended for a long period.This creates a much higher drawdown and makes money management difficult.So this is the area where I would really appreciate some help or ideas.I’m trying to find the best way to distinguish a genuine exhaustion point from a market that is simply extremely stretched but still capable of continuing in the same direction.Possible solutions I’m currently considering include making Level 14 the only tradable signal during strong trends, increasing the ADX filtering, requiring a stronger EMA/ATR extension, adding slope or trend-acceleration filters, or waiting for additional confirmation before accepting a counter-trend entry.The goal is not to predict every top or bottom.The goal is to identify situations where price is statistically stretched, volatility is elevated and there is enough evidence that the probability of exhaustion is actually increasing.The indicator currently looks very promising in ranging conditions, but reducing repeated signals and drawdown during strong trends is the key problem I’m trying to solve.Any suggestions on improving the trend-regime filter or managing these counter-trend signals would be very welcome. I testing into EURUSD M30 and H1

Maybe share as you have with the others and we can try to improve/test ourselves?

I backwards coded the indicator. Feel free to have a play around and feedback. It’s super accurate a lot of the times, just needs some adjusting to try and avoid constant signal in a up or down trend.

reecehardyjack wrote: Sun Aug 16, 2026 12:09 am I backwards coded the indicator. Feel free to have a play around and feedback. It’s super accurate a lot of the times, just needs some adjusting to try and avoid constant signal in a up or down trend.

post1295585445.html#p1295585445

not working