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Blai5 Vigia. New christmas toy for all of you to play with

#1
TLDR: Indicator .ex4 at the end of the post.
Hi everyone,
Long time lurker and recently registered user here.

I've had some measure of success over the last years with the following indicator: Blai5 Vigia on MT4 (there's another version for those of you that use ProRealTime, there you can check its source code just by searching the indicator within the PRT database), and thought some of you would like to give it a go since the author (Xavier D. García, he's Spanish) allows for freesharing through a creative commons copyright.

Blai5 Vigia1.png

As you can see, it is formed out of multiple lines:
  • The Signal Line or "Vigia" by default which tries to present a "harmonized" value of 4 classic indicators (RSI, Stoch, FMI and Bollinger Bands). This way, it's intention is to generate signals when the previous indicators information complements each others.
  • A red 20 period exponential moving average. You can customize the period.
  • A blue histogram he calls "Astro" which he categorizes as a "distilled" indicator since it's value depends on 2 other indicators originating from Vigia. In a way, without really being such, it might be easier to think of it as a MACD histogram of the Signal Line instead of the currency price. It's period can be customized.
  • Lastly, is the blue dotted "Filter line" which Blai5 likes to swear by but won't reveal too much of. In it's most basic concept it is used to filter opposite signals by showing the expected medium term trend, but careful study can give further information.
    • As a matter of fact, check in the previous chart how price ranged after both Filter and Astro crossed the ZERO line while the red 20 EMA remained on the opposite side (and what did the price do after the 20-EMA crossed ZERO in the direction Astro and Filter took).
    • Or maybe look at how bullish divergences in the Vigia or Astro lines worked out while the Filter line was either positive or negative, likewise with bearish divergences.

Due to the amount of lines it includes, it may be easier to study them separately. For example:

  • I like checking the Astro on it's own and apply a moving average to it (the indicator is coded in such a way that, when dragging a moving average to its window, it is applied to Astro.
  • You can also check the 20-EMA position over/under Filter line to determine longer term trend, and gauge it's strength by checking their separation and slope (namely, don't buy while Filter and EMA are pointing downwards AND they're getting closer... or viceversa).
  • Or you could check how the bollinger bands work it relation to the rest:
    • How they seem to always contain the EMA as an indication of future reversal or ranging.
    • How, once the signal line breaks out of it's bounds, there seems to follow strong price movements but I'd recommend you wait for confirmation from the other signals (as i show with vertical lines in the following graph):

Blai5 Vigia2.png

The first indicator window on this graph is a 1 period SMA of Astro with a 5-SMA.
I'm aware there were more times the Vigia Signal Line broke through the lower bollinger band but the EMA was either still positive or already outside of the lower bollinger band itself when it crossed downwards through the Filter line.
That's not to say those Signal Line breakthroughs of the Bollinger Bands can't work, but they're riskier as you can see on the following graph, where some went alright since the was further confirmation afterwards and others were just fake signals:

Blai5 Vigia3.png

I would like to remark that these aren't the only signals available.
Rather, the indicator offers progressive signals, each building into the previous one, such that, given different market conditions, there are progressively better signals (some are too early), and an optimum one or just bad ones (like fake early signals or them simply being too late for a small price movement).
  • Sometimes market will be subject to bursts after news (here you might get away with using the bollinger band breakout).
  • Other times the market will be ranging with no clear medium or long term trend ... here you might want to wait for a divergence and further confirmation after a trendline break, or you may want to trade "dynamic" support and resistance levels registered by the Signal/Vigia Line and wait for a breakthrough as in the following example (blue AQUA lines) when the price was ranging:

Blai5 Vigia5.png

The nice thing is, it's really up to you as a trader to use those signals you are more comfortable trading with.
If there's enough interest I will ask the author if he would mind sending me the MQL4 file and share it here for any coders willing to play with it.

Vigia9.ex4
Blai5 Vigia
(4.82 KiB) Downloaded 396 times
b5vg.ex4
(2.54 KiB) Downloaded 256 times
Blai5 Vigia Indicator + Introduction: here


QuestionRe: Blai5 Vigia. New christmas toy for all of you to play with

#2
DrNefario wrote:
Sat Jan 09, 2021 8:16 am
TLDR: Indicator .ex4 at the end of the post.
hi man welcome here to site.......... immense detail just sorta confused are u selling this?? cos u posting links & it is against rules............ looks like mods remove u links already & uploaded u pics onto ur post cos external link not allowed.......... sorry i just unsure if it is commercial software but nice posting man
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Re: Blai5 Vigia. New christmas toy for all of you to play with

#3
moey_dw wrote:
Sun Jan 10, 2021 2:49 am
DrNefario wrote:
Sat Jan 09, 2021 8:16 am
TLDR: Indicator .ex4 at the end of the post.
hi man welcome here to site.......... immense detail just sorta confused are u selling this?? cos u posting links & it is against rules............ looks like mods remove u links already & uploaded u pics onto ur post cos external link not allowed :think: :think: :think:
Hi there, thanks for the welcoming!
No, no selling here. The external link was just to give credit to the author.
That's his blog, where he explains some things about this indicator and others he has made and whose source code he shares freely through the ProRealTime platform (if you want to check the code). Also has PDF presentations of trading conferences (in Spanish) to which he was invited to introduce his indicators.
Long time ago you could also get the MT4 versions of his indicators for free, just by asking him, which I did. And he allows them to be shared through other medias like forums.
Just thought it would be a nice touch to share it with you guys and, since it's a complex indicator, give a convenient introduction.
If posible, I'd like his blog to remain untouched in the first post... got to give credit where it is due.

I'm sorry if I broke any rule doing so.
Blai5 Vigia Indicator + Introduction: here

LikeRe: Blai5 Vigia. New christmas toy for all of you to play with

#4
DrNefario wrote:
Sun Jan 10, 2021 3:01 am
I'm sorry if I broke any rule doing so.
Hello!

That's very cool and generous of you for sharing and detailing this interesting code. I'm very familiar with PRT and their community. Nicolas has made and converted some great codes for the community there.

Prorealtime is my favorite platform for trading Futures!

Welcome to the site by the way :)
Trade with the broker that supports our work! FBS are offering $140 to get you started! Click here to begin live trading, today.
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Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
How to draw Fibonacci Extensions the easy way
How to easily find & draw major Support & Resistance


Re: Blai5 Vigia. New christmas toy for all of you to play with

#6
moey_dw wrote:
Sun Jan 10, 2021 3:14 am
DrNefario wrote:
Sun Jan 10, 2021 3:01 am
Hi there, thanks for the welcoming!
oh sorry my mistake!!!! Thx again for post this gonna check it out this weekend trading crypto haha............ thx sir :thumbup: :thumbup: :thumbup:
No worries, and have some fun with it :)

I would recommend loading multiple instances of the indicator simultaneously and, in each one, change the color of some of it's multiple lines to "none" so they don't appear.
That way you will be able to more easily distinguish how each one of them interacts with the others.
Blai5 Vigia Indicator + Introduction: here


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