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MT4 Volatility Alert with pips display (Scalpers Buddy)

#1
Hi traders,

Back in 2015, Keith Watson (Gumrai) helped me to re-design a simple indicator similar to Paul Haye's "Scalpers Buddy".
Basically it's an indicator that sounds a chime and highlights in red (or a colour of your choice) when the current candle has moved a certain amount of pips and signals us of volatile moves.

Indicator features:
  • Sound alerts
  • Visual alerts (text colour change)
  • Draggable on chart - can be placed anywhere
  • Customizable font and font size
  • Multi-timeframe (but for accurate and constant volatility alerts leave the setting on M1)

Even though this indicator was designed to alert you on when to scalp during a trend trade, I use it for simple counter-trend trading simply by:
1. Waiting for the alarm to chime
2. Checking on the M15 which chart is moving
3. Jumping in and scalping the opposite direction once the candle moves close to an important structure like Daily Pivots, 200MA's, whole round numbers (sweet spots), and support and resistance.

Here's an example of a live trade taken by using the Volatility Alarm:
1.jpg
1.jpg (98.84 KiB) Viewed 4407 times
2.jpg
2.jpg (119.75 KiB) Viewed 4488 times

When I want to be alerted of volatile moves I leave it on the default 5.0 pips when trading the volatile currencies (GBPJPY, GBPAUD, EURNZD, EURCAD, GBPCAD, GBPNZD and EURAUD).
All other major pairs I set it on 4.0 pips.

Try it out, I'm sure many of you will find it useful to help alert you of volatility.

PS: I've also included the sound chime I use which is a low frequency "dong" sound. Just drop this file into your "Sounds" folder in the MT4 directory and load the Volatility Alarm Settings file included.

7th March 2018
  • Fixed issue with resetting "Chart on foreground" and renaming issue with indicator not appearing in list
Volatility1.1.jpg
Volatility Alarm.zip
(16.01 KiB) Downloaded 590 times
Myfxbook live trading results (new 2019 account coming soon)
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!


Re: Volatility Alarm with pips display (Scalpers Buddy)

#2
Jimmy wrote:
Fri May 12, 2017 5:09 pm
Hi traders,

Back in 2015, Keith Watson (Gamriu) helped me to re-design a simple indicator similar to Paul Haye's "Scalpers Buddy".
Basically it's an indicator that sounds a chime and highlights in red (or a colour of your choice) when the current candle has moved a certain amount of pips and signals volatile moves.

Indicator features:
  • Sound alerts
  • Visual alerts (text colour change)
  • Draggable on chart - can be placed anywhere
  • Customizable font and font size
  • Multi-timeframe (but for accurate and constant volatility alerts leave it on M1)

Even though this indicator was designed to alert you on when to scalp during a trend trade, I use as part of a simple counter-trend trade strategy simply by:
Waiting for the alarm to chime
Checking on the M15 which chart is moving
Jumping in and scalping the opposite direction once the candle moves close to an important structure like Daily Pivots, 200MA's, whole round numbers (sweet spots), and support and resistance.

Here's an example of a live trade taken by using the Volatility Alarm:

1.jpg
2.jpg


When I want to be alerted of volatile moves I leave it on the default 5.0 pips when trading the volatile currencies (GBPJPY, GBPAUD, EURNZD, EURCAD, GBPCAD, GBPNZD and EURAUD).
All other major pairs I set it on 4.0 pips.

Try it out, I'm sure many of you will find it useful to help alert you of volatility.

PS: I've also included the sound chime I use which is a low frequency "dong" sound. Just drop this file into your "Sounds" folder in the MT4 directory and load the Volatility Alarm Settings file included.

Volatility Alarm.zip
Jimmy
Thanks for pretty utility and detailed description,hope it help all traders :)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: Volatility Alarm with pips display (Scalpers Buddy)

#3
mntiwana wrote:
Fri May 12, 2017 5:25 pm

Jimmy
Thanks for pretty utility and detailed description,hope it help all traders :)
You're welcome sir! Hopefully it helps the volatility traders out there :D
Myfxbook live trading results (new 2019 account coming soon)
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!

Re: MT4 Volatility Alert with pips display (Scalpers Buddy)

#5
Saad wrote:
Sat May 13, 2017 12:37 pm
Hello Jimmy
Thanks for sharing.
I am facing a problem.Text background colour not changing.Only white.
Hello Saad, in the indicator's settings, you can change the colour of the "background" and the colour of the "border". I've set them as white (255,255,255) by default. Can you see those?
Change them to whichever colour you like to match your chart's colour :)

PS: I'll post a screenshot in an hour I'm just away from the pc at the moment
Myfxbook live trading results (new 2019 account coming soon)
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!


Re: MT4 Volatility Alert with pips display (Scalpers Buddy)

#6
Jimmy wrote:
Sat May 13, 2017 5:52 pm
Saad wrote:
Sat May 13, 2017 12:37 pm
Hello Jimmy
Thanks for sharing.
I am facing a problem.Text background colour not changing.Only white.
Hello Saad, in the indicator's settings, you can change the colour of the "background" and the colour of the "border". I've set them as white (255,255,255) by default. Can you see those?
Change them to whichever colour you like to match your chart's colour :)

PS: I'll post a screenshot in an hour I'm just away from the pc at the moment
Changed settings already,Nothing changed.
Attachments
Screenshot_3.png

Re: MT4 Volatility Alert with pips display (Scalpers Buddy)

#7
Saad wrote:
Sat May 13, 2017 6:25 pm
Jimmy wrote:
Sat May 13, 2017 5:52 pm

Hello Saad, in the indicator's settings, you can change the colour of the "background" and the colour of the "border". I've set them as white (255,255,255) by default. Can you see those?
Change them to whichever colour you like to match your chart's colour :)

PS: I'll post a screenshot in an hour I'm just away from the pc at the moment
Changed settings already,Nothing changed.
Thanks for the screenshot, I know you probably have done this already but have you restarted your MT4 client? If not, could you please do that and try to add the indicator to your charts again?

I've just added the ex4 to my client again and all is well here. Let me know how you go.
1111.jpg
Myfxbook live trading results (new 2019 account coming soon)
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!

Re: MT4 Volatility Alert with pips display (Scalpers Buddy)

#8
Jimmy wrote:
Sat May 13, 2017 6:33 pm
Saad wrote:
Sat May 13, 2017 6:25 pm

Changed settings already,Nothing changed.
Thanks for the screenshot, I know you probably have done this already but have you restarted your MT4 client? If not, could you please do that and try to add the indicator to your charts again?

I've just added the ex4 to my client again and all is well here. Let me know how you go.

1111.jpg
After restarting it worked.Thanks for your kind effort.

Re: MT4 Volatility Alert with pips display (Scalpers Buddy)

#9
Saad wrote:
Sat May 13, 2017 6:44 pm
Jimmy wrote:
Sat May 13, 2017 6:33 pm

Thanks for the screenshot, I know you probably have done this already but have you restarted your MT4 client? If not, could you please do that and try to add the indicator to your charts again?

I've just added the ex4 to my client again and all is well here. Let me know how you go.

1111.jpg
After restarting it worked.Thanks for your kind effort.
You're welcome my friend!
Myfxbook live trading results (new 2019 account coming soon)
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!


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