Re: Trend Indicators for MT4

1342
josi wrote: Wed Nov 09, 2022 5:46 pm As far as I know there is no such thing as "high-low trend" but there you are...
a) everybody trades differently (for me higher-TF-bias is more important than trading TF; exit is more important than entry etc)
b) in MrTools screenshot you have one subwindow
(this is all you need; all the other ones only show that you don't trust your setup; the more indicators you use the higher the likelihood that signals will contradict each other and freeze your decision making; trading is about probability, i. e. you always lose some trades; if you have an edge this edge will show over many trades (>1000), not necessaritly over the next 10 or 20): this is the reason you always have to backtest and forward test each strategy extensively)
MA: tells you about bias (above zero = bias is up; below zero = bias is down)
histo: gives you entries and exits (zero-cross) - (actually: turning points after extreme, i. e, slope up vs slope down)
So the inputs you use decide on how you want to replicate market structure.
Having said this: of course, it is more compliated than that
MA: above zero but moving downward is retracement (but can turn into down); below zero but moving upward is retracement (but can turn into up) etc
As I said: if you want a simple formula, Xard is a good starting point because he has tried to visualize market bias (to indicate possible market turning points ("big dots") and higher highs, higher lows vs lower lows, lower highs ("smaller dots")
(Dow theory - one of the earliest market theories around; yet still essential to understand market cycles)
This is most helpful, thank you so much. I share the same sentiment especially a.

Re: Trend Indicators for MT4

1343
sal wrote: Tue Nov 08, 2022 6:17 pm higher highs, higher lows - buy
lower lows. lower highs sell;

joshy
i like your clear explanation bro...
i did some some lines plot on arrows ,based on indies where the exact you mentioned above! :) :thumbup:
arrows recently made my mr.tools and its good one
Nice! Quite explanatory :)


Re: Trend Indicators for MT4

1346
Banzai wrote: Thu Jul 07, 2022 10:44 am



Standard Deviation Channel
(on/off button)
Hi Banzai,

I got this indicator from another platform but I have seen that it has been uploaded by you. Many thanks indeed, it helps me a lot. I would be grateful if you can share an MTF version of it or add MTF to this version.

Thank you & regards,

Robin
These users thanked the author arobin for the post (total 2):
Banzai, ParallelNative


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