Re: MT4 Indicator requests and ideas

7993
Flavio Esteves wrote: Sat Jan 11, 2020 1:49 am Hi All! I'm new here, glad to join! Does anyone have experience with average true range (ATR) indicators? If yes, are they any useful? Some traders swear by it, but I'm skeptic about indicators in general.
Welcome to the group. The ATR shows the average pips within a certain amount of days (default is 14). I use it to set my TPs when my system gives me a signal. One strategy some trades have employed is to set their TP at ATR and SL at 1.5 ATR. If your algo is tight, you should win more than you lose. However, under that strategy, 2 losses would wipe out 3 winners.

Also, you have to determine what trader you are. I believe traders fall into 2 categories: Trader 1 - many wins with small losses/short targets. Trader 2 - many small losses/huge wins which erase all losses. Trader 1 - increases their account, percentage wise, every trade. Trader 2 - increase their account dramatically because they are going for long runs. Trader 2 - are the guys that have 3:1 targets.

Back to the subject, the ATR is a great starting point to get a feel of how many pips and/or volatile a currency pair can be. Hope this helps.
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Re: MT4 Indicator requests and ideas

7999
Good day great coders; I have a simple request; could you kindly make this cumulative volume indicator show two colours kind of like the colour macd.. I should be able to make the volume bars a different colour when above the zero line to that when below the zero line..At the moment only one colour shows on the chart when both negavite or positive, kindly code so that it may have a selection of two different colours when either negative or positive..Thanks in advance Mr Tools and
cumulative-volume-indicator.mq4
fellow great coders...

Re: MT4 Indicator requests and ideas

8000
Good day great coders; I have a simple request; could you kindly make this cumulative volume indicator show two colours kind of like the colour macd.. I should be able to make the volume bars a different colour when above the zero line to that when below the zero line..At the moment only one colour shows on the chart when both negavite or positive, kindly code so that it may have a selection of two different colours when either negative or positive..Thanks in advance Mr Tools and
fellow great coders...


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