Re: MT4 Indicator requests and ideas

11612
greetings all,

I just want to ask...

is there an indicator that measures the length of the latest closed candle using the average ATR value of a certain period number of days?

for example:
the average ATR value for the EURUSD pair for 5 days is 0.0060 or 60 pips...
now, what the indicator does is that it measures end to end the whole length of the latest closed candle.. and if measurement value of the latest closed candle doesn't exceed the average ATR value it will give an alert and plot an arrow on the main chart above (if the trend is long) or below (if the trend is short) the candle in question...

is there such an indicator?
is it possible to make or code it?

Re: MT4 Indicator requests and ideas

11613
ZZTop wrote: Fri Nov 27, 2020 3:53 pm Mr Tools

I think that maybe this is good with Renko charts and with Gold, because I watched that in M1 and it gives arrow one bar after, but it needs alert, message and sound, so if you could do that, that would be nice, I tried to do it myself, but I couldn`t. Actually, it did look like every trade was a winner, when watching that Renko chart, but I just need alert, so I can be sure that is the case, and dont have to watch chart all the time.
Or if you know other NoRepaint arrow indicator, that gives very early signal, then please post here.

Thank you.

FractalZigZagNoRepaint.mq4


Gold 12 pips.PNG
I know it says no repaint, but since it is using both fractals and zig zag imagine it repaints.

Re: MT4 Indicator requests and ideas

11615
Hey I dont know if this is ok to post here, as i am still new to the forum, but have been reading for a couple months and snagging some of the beautiful indicators on here :)

I hope this is the right place to post, but i have a potentially powerful idea for an indicator. I Currently am using a volume profile to pick out weak points that price is likely to jump to give the amount of volume in the given areas. the basic premise that if an a price point has alot of trading volume (both directions for extended period of time) we should see a range bound point, with an eventual breakout from that point. (think of wyckoff method) I am currently using previous price points of high volume and low volume to pick out levels i might like to trade on. However, this doesnt work for trending markets! because using a previous weeks price points may neve be touched in an uptrending market. (Just as pivot points and horizontal Support and resistance tend to lose their effectiveness over periods of time compared to price channels or moving averages).

however there might be a solution.

My idea would something similar to pivot points or projection bands, or even price channels (which are essentially just support and resistance projected forward by using two different price points connected together by a set amount of time to determine slope of the straight lines that form price channels), but instead of projecting price, the goal is to project volume (or tick volume specifically) in the same way a price channel or moving average or projection bands are usually calculated. Im not a math guy so maybe someone can help here. perhaps something to do with calculating the range of each candle/# ticks, to essentially give a score. the more price movement per tick, or less ticks needed to move price could be considered an area of low volume or interest. where as net price change over a period of time with alot of tick data, suggests an area of accumulation or distribution in market participants. So i guess what im asking is it possible to create an indicator that will draw either a channel or a sort of dynamic lines, or even areas of projected high or low volume. because again the issue im having with market profiles/volume profiles, is that they take a snapshot of past data and give levels in relation to that price range, but have 0 predictive capability for a trending market. It works great in a sideways market when time seems to kind of stand still, with price just bouncing around a range, but again, not well in trending market. Just like how a support point might be viable today, but as price trends away it isnt, a channel solves this issue by basically connecting points in time to draw a line. Is It possible to have an indicator do the same thing for areas of high or low volume? perhaps using median prices, or whatever the opposite is of median (again im not a math guy, i just have this idea haha), to find low volume and high volume areas in a diagonal market (trending).

I know this prolly sound far out and confusing, hopefully someone has an idea for the calculation, i wish i were smarter in this regard, still learning along the way and new to forex only been at it a couple months. And i am sorry if i posted to wrong place. I just am kind of at a loss here with where to go with this idea. Hopefully someone can help! thanks for all teh great indicators already put out by some of the major contributors and moderators here! Good luck trading all, hope you all have abundance and can pass that on to others! peace.


Re: MT4 Indicator requests and ideas

11616
explodingwombat wrote: Sat Nov 28, 2020 8:31 pm Hey I dont know if this is ok to post here, as i am still new to the forum, but have been reading for a couple months and snagging some of the beautiful indicators on here :)
nice to meet u hope 2 see some contributions from u.................
Attachments
These users thanked the author moey_dw for the post:
explodingwombat
Official Forex-station GIF animator at your service 👨‍⚖️
See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com 👈

Re: MT4 Indicator requests and ideas

11617
KRFXEL wrote: Sat Nov 28, 2020 3:09 am greetings all,

I just want to ask...

is there an indicator that measures the length of the latest closed candle using the average ATR value of a certain period number of days?

for example:
the average ATR value for the EURUSD pair for 5 days is 0.0060 or 60 pips...
now, what the indicator does is that it measures end to end the whole length of the latest closed candle.. and if measurement value of the latest closed candle doesn't exceed the average ATR value it will give an alert and plot an arrow on the main chart above (if the trend is long) or below (if the trend is short) the candle in question...

is there such an indicator?
is it possible to make or code it?
Look for ADR dashboard.
These users thanked the author Darks for the post:
KRFXEL

Re: MT4 Indicator requests and ideas

11620
ZZTop wrote: Sat Nov 28, 2020 3:48 am
Yes, but with Renko it looks really good, so if you can add alert, sound and message, so we can get confirmation to that, please.
Hello MrTools, ZZTop and all,

I'm new here so hello to everyone. As for this indicator, I include it with the alert function. However, after testing, I don't know why, but notifications sometimes work and sometimes not. Could I ask for code analysis and repair?

MrTools, please also add to this second indicator of notifications and alerts. I think this is one of the best reversal indicators I have so far. It only lacks notifications and alerts.

Thanks in advance!


Who is online

Users browsing this forum: DotNetDotCom [Bot], DVanAssen, Facebook [Crawler], kvak and 113 guests