Acc TOS Snbo translated to MT4 Snbo
This indicator is an accurate conversion of a custom indicator Snbo from TOS adapted for MT4
The indicator is useful for determining the local market reversals, any other indicators can be used as additional filters.
- Check the indicator performance in the strategy tester. Reviews and comments are welcome.
- After the purchase, you else you want to be added to the new version of Acc TOS Snbo.
- If you have any ideas on how to improve the indicator, please add a comment.
The indicator is mostly used for binary options trading, but can also be applied for Forex both as an independent indicator and combined with other ones.
The indicator is based on the analysis of High, Low and Close of the current and the last three bars, that is why the indicator is not redrawn on the history and does not slow down the terminal.
The indicator is simple and efficient, it does not overload the chart with lengthy texts or unnecessary information.
- Min Ratio (low - low)/low - the minimum ratio of (previous bar Low - current bar Low) / previous bar Low for a Buy signal
- Max Ratio (close - low)/(high-low) - the maximum ratio of (Close - Low)/(High-Low) for a buy signal
- Min Ratio (high - high)/high - the minimum ratio of (current High - previous High)/ previous High for a sell signal
- Max Ratio (high - close)/(high-low) - the maximum ratio of (High - Close)/(High-Low) for a Sell signal
The original indicator code:
input TrendAverageType = AverageType.WILDERS; input price = hl2; input length = 13; input displace = 8; def ma = MovingAverage(TrendAverageType, price, length)[displace]; def Upcond1 = (low - low)/low >= 0.000864; def Upcond2 = low < low and low < low and low < low; def Upcond3 = ((close - low)/(high-low))<= 0.29; def Upcond4 = low < low; def Upcond5 = close < close; def Upcond6 = high<=high; plot Up = if Upcond1 and Upcond2 and Upcond3 and Upcond4 and Upcond5 and Upcond6 #and close > ma then 1 else 0; def Dncond1 = (high - high)/high >= 0.000864; def Dncond2 = high > high and high > high and high > high; def Dncond3 = ((high - close)/(high-low))<= 0.28; def Dncond4 = high > high; def Dncond5 = close > close; def Dncond6 = low>=low; plot Down = if Dncond1 and Dncond2 and Dncond3 and Dncond4 and Dncond5 and Dncond6 #and close < ma then 1 else 0; Up.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP); Down.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN); Alert(Up,"Up",Alert.BAR,Sound.Ring); Alert(Down,"Down",Alert.BAR,Sound.Ring);
In the MT4 version, unnecessary variables were removed from input parameters. New parameters have been added to enable custom ratios in addition to standard 0.000864, 0.29, 0.28
- If you need to convert other TOS indicators for МТ4 or МТ5, please send a message to me.
- if you need this indicator for MT5 - write to me, I can rewrite.