FXiGoR DYNAMIC Breakout system on Daily Average Range - page 24
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indicators
Hi all
First of all a million thanks to fxigor for taking all the time to expplain his system. Hats off to you SIR
Can some one please be kind amd post the final set of indicators and the template which contains all the devopments made so far.Post 113 is the one you want for the main indicator the indicator in the post just above yours is a modified version that does not follow the original trading guidelines
cja
Post 113 is the one you want for the main indicator the indicator in the post just above yours is a modified version that does not follow the original trading guidelines cja
Thanks friend, tell me if i am lokig at wrong post, i checked the post no 113 but there is nothing in that post. Can you help pl.
Display of System
Yes Joe..in previous posts I asked for it if someone could have a look to that... iGoR
Hi iGoR,
I think i have managed to make a graphic representation of the system.
this is how it works and correct me if i am wrong
1/ When the new day starts the indicator loads 50% of the average daily range above and below the OPEN price with a MAROON panel
2/ The current daily HIGH & LOW is now displayed in a OLIVE GREEN within the MAROON Daily range display
3/When the CURRENT PRICE exceeds the 50% DAILY AVERAGE RANGE (SHORT/LONG Entry )then the colour turns GREEN for all the price action above or below the 50% AVERAGE DAILY RANGE.
4/If PRICE goes down 30 pips below the 50% DAILY AVERAGE RANGE then the LONG ENTRY also moves down with it keeping the LONG entry 50% of the DAILY AVERAGE RANGE above price.
EXAMPLE if the DAILY AVERAGE RANGE is 100 then that makes the ENTRY LONG 50 pips and the ENTRY SHORT 50 pips, if PRICE starts at say 500 then it has to go above 550 or below 450 to trigger an ENTRY. Now if price first starts to move up to 540 and stops short of the LONG ENTRY level by 10 pips then the SHORT ENTRY level will now be 50 pips below the 540 level. So now if price then reverses down you will get a SHORT ENTRY at 490 (50pips below the CURRENT DAILY HIGH) if PRICE continues to move down say another 60 pips to 430 the LONG ENTRY level will TRAIL it by 50% of the DAILY AVERAGE RANGE which in this example is 50 pips. This in effect will give you a new LONG ENTRY level at 580 if price reverses more than the DAILY AVERAGE RANGE .
The only thing i noticed which seemed a little odd at first was that when price moved a large distance then it is possible to have the SHORT ENTRY move above the LONG ENTRY but if you think about it that is what should happen in large moves because the SHORT ENTRY is still TRAILING the CURRENT HIGH by 50% of the DAILY AVERAGE RANGE and the LONG ENTRY below is your LONG ENTRY for the current long trade that is running and of course the reverse also applies with a large SHORT move.
I hope i have got this right - anyway try the attached indicator and lets get some feed back, I ran it last night and it seemed to do the job.
If this is correct i will make a separate data window for the relevant info and then you will have a choice btween a separate DATA window below the chart or you can use the COMMENTS in the top left of the chart.
Fingers crossed on this one??
Ps The Daily range is calculated using 1,5,10 & 20 days averages but can be altered to 5,10,& 20 Days if that is what is being used at present.
Have added in another colour to show the full DAILY AVERAGE RANGE so you can tell when price is approaching that level and the colour changes to a lighter green when the DAILY AVERAGE RANGE is exceeded warning you to be aware the trade may be nearing its end.
In version #3 I have changed the Comments as there was an issue with the number zero dropping off the end of the numbers and added Profit LONG & Profit SHORT
I have now added the Display indicator with a separate DATA Window instead of Comments with slight changes to the OPEN level due to a coding conflict with the separate window which now shows as a Black line and not the previous Coral colour.
I Removed the older indicators here are the two latest indicators - one with Comments the other with a SEPARATE DATA Window - have altered the code to solve issues with the trend lines disappearing when time frames changed
Have altered DATA WINDOW indicator again and it appears to test alright now - Fingers Crossed.
t_s_r-daily_range_display4.mq4
t_s_r-data_window_1.mq4
Tsr #4
The updated indicator is on post 213
You now have the option to Show_TSR_TEXT or Delete the TEXT
As to the back test for this indicator because of the way this indicator is dynamic and alters until a trade situation sets up i don;t think a back test is going to be easy to code. it is probably beyond my ability at present and time is also at a premium, sorry - perhaps someone else could attempt to code it.
Thanks friend, tell me if i am lokig at wrong post, i checked the post no 113 but there is nothing in that post. Can you help pl.
Sorry must have lost my mind somewhere post 213 has the latest indicator and post 105 explains the system as i understand it.
cja
looks good.
Now the Daily average % can be changed in the inputs tab, the standard FACTOR is 4 but a FACTOR of 3 will give a bigger % of the average and a FACTOR number like 6 will give earlier entries t_s_r-daily_range_display5.mq4
any GMT shift feature?
because different broker has different time server
Indicator updates
I have altered these indicators as there was a small error in the code which was causing a log file to activate. Thanks to Ricky D for pointing this issue out.
t_s_r-daily_range_display4.mq4
t_s_r-daily_range_display4_textshift.mq4
t_s_r-data_window2.mq4
So great! Thank you so much, cja.
asam
Hi Cja,
Hope this indicator could help you find the problem.
asam