MX01 wrote: Tue Mar 27, 2018 8:34 pm I love MT4 because it's so light on the CPU and has 1000's & 1000's of indicators and amazing coders like here in this forum but after testing so many in the past months none are giving me consistent results. They seem all great for Spot Forex trading where you have more time for the price to play out but for Binaries the failure rate is so high.

Not talking about strategies necessarily but just standalone indicator-signals like arrows or other cross-over/ color signals, etc. Because I was looking for one with good consistent results (not "Holy Grail" 100% but at least 70-80%) where you can apply martingale.

The best arrow signal so far I came across is not for MT4 but for ThinkOrSwim, which is called "Tony Arrows". It's not perfect but it's giving nice consistent results and not afraid to apply martingale on it.

Attached screenshot (M1 chart examples for 1M expiry) and the code for ThinkOrSwim, not sure if some MT4 expert can de-code it and reverse engineer it for MT4 but here it is anyway.

Code: Select all

#
# tony lipton
# arrows version
#

declare upper;

def vmacBI = ((((((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3)[1], 3)) < ((reference RSI(14)[2] - reference RSI(14)[11]) + SimpleMovingAvg(reference RSI(3)[2], 3))) * (((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3)[1], 3)) < ((reference RSI(14) - reference RSI(14)[9]) + SimpleMovingAvg(reference RSI(3), 3)))) * (((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3)[1], 3)) > Lowest(((reference RSI(14) - reference RSI(14)[9]) + SimpleMovingAvg(reference RSI(3), 3)), 21)))  * (reference RSI(14)[1] < Lowest(reference RSI(14)[2], 21)));

def vmacSS = ((((((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3), 3)[1]) > ((reference RSI(14)[2] - reference RSI(14)[11]) + SimpleMovingAvg(reference RSI(3), 3)[2])) * (((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3), 3)[1]) > ((reference RSI(14) - reference RSI(14)[9]) + SimpleMovingAvg(reference RSI(3), 3)))) * (((reference RSI(14)[1] - reference RSI(14)[10]) + SimpleMovingAvg(reference RSI(3), 3)[1]) < Highest(((reference RSI(14) - reference RSI(14)[9]) + SimpleMovingAvg(reference RSI(3), 3)), 21)))  * (reference RSI(14)[1] > Highest(reference RSI(14), 21)[2]));


plot DataBI = vmacBI[-1];
plot DataSS = vmacSS[-1];


DataBI.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
DataSS.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);


DataSS.AssignValueColor(Color.YELLOW);
DataBI.AssignValueColor(Color.YELLOW);

Alert(DataBI or (DataSS), GetSymbol() + ": ARROW", Alert.BAR, Sound.DING);

Alert(vmacBI or (vmacSS), GetSymbol() + ": ARROW", Alert.BAR, Sound.DING);

Screen Shot 2018-03-27 at 11.03.52.png

MX01 wrote: Tue Mar 27, 2018 9:59 pm It's a bit frustrating because with so many uncountable indicators and such a big MT4 community it's strange that there are not more powerful, reliable signals.

Even commercial ones are mostly BS or scam.

I guess it must be impossible to create something with consistent results because price action is so random.

Deez wrote: Tue Mar 27, 2018 11:18 pm

S/R is the key..thats the only magical signal you can rely on..i've tried so many indicators but you cant go up against a person that has way more money than you jus because an arrow says so.

If we can get an indi that can measure the amount of resistance being applied to price from both bulls and bears at any given time and on multiple timeframes that could be a start.

Maybe..

MX01 wrote: Tue Mar 27, 2018 11:36 pm

Yes I wish there was some signal that took mtf S&R levels into consideration with combining other stuff to create an ultimate arrow

Deez wrote: Tue Mar 27, 2018 11:46 pm PZ 123 pattern looks interesting