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Re: Various (Specialist) indicators for MT4

#402
mrtools wrote:
Mon May 24, 2021 1:53 pm
Mainly Thank Mladen, he did most of the hard work on thsat indicator.
a) for wider range trading: support & resistance
b) for trend following: Xard or some other MA-based system

c) for trend reversals: Linear regression sketcher
So - let's put it to the test: which way will price go (there is some resistance upwards so it won't be that easy)?
update 1: ok - if you had a reward-risk-ratio of 2:1 you took profits just now (screenshot 2). So it was nice and easy, after all.
update 2: after a Pb it went on (screenshot 3) - so - all in all - good day with this indie.
Now repeat this test 100 times and you may find: you made a new friend.
EURCADH1.png
EURCADH1 check.png
EURCADH1.png


Re: Various (Specialist) indicators for MT4

#408
mrtools wrote:
Thu Jun 10, 2021 6:27 am
Think I got it right, not very confident in object oriented coding yet.
Thank you mrtools, we are almost there. It works as intended except that the upline it plots only when I use it as a channel not as trendlines as intended.
Using it in trading today, I notice that it does not refresh on the current chart as MTF indicators normally. For the 5m for example I have to switch to the 5m first and then go back to the current chart i.e. 1m in this case. Refreshing the current chart does not do the trick.

Trendlines
zigzag mtf.JPG
Channel
zigzag mtf_1.JPG

Re: Various (Specialist) indicators for MT4

#409
Just to demonstrate on the HK50 today

Break of the 1m trendline and then of the 5m (Purple) ......and off we go to the upside. 160 points up and then break to the downside. The 15m (white line) holds as support and with the break of the 1m (Red) in the trade again. Seems to work pretty well. Just an idea. See how we go along. We need to be aware that nothing is perfect and we can only look for what we think is a high probability trade. What Price action will do next, God told me he doesn't know either..... :D

zigzag mtf_2.JPG

And got out with 50 points. Not sure about further upside.

zigzag mtf_3.JPG

And after the break of the m15 (white line) and m1 (red)...the m5 points down already..... means PA is going down further. And up again after the break of.........and..... :D ......well, I think it's enough now to make my point.
zigzag mtf_4.JPG

No difference for any instrument of course.....here's the US30... Confluence
red...1m, purple... 5m, white... 15m

zigzag mtf_6.JPG


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