10 PIP System Need Help Making into Indicator
This sounds like a nice challange. I'll have a go and see if I can do an indicator for it. 
As long as it's for MT4.
Yes MT4 is fine. Thank You.
Try this - 10pips.mq4
It draws arrows on the chart when it sees a possible trade. I am working on an audible alert for it too but I haven't quite got it right yet.
Let me know if it is OK. Enjoy.
thnks for the indicator, but i think there are some false arrows, it should only count pips of consecutive candles which doesnt touch the ema to qualify for entries.
And also it can be more the 3 candles also, so u need to change the code a bit.
don think this is needed: (Low <= EMA4) as we are only interested in candles that dont touch the ema. And only one buy signal and only one sell signal per trend.
in your code i dont see anywhere that you count pips of candle body ......
Try this - 10pips.mq4
It draws arrows on the chart when it sees a possible trade. I am working on an audible alert for it too but I haven't quite got it right yet.
Let me know if it is OK. Enjoy. thnks for the indicator, but i think there are some false arrows, it should only count pips of consecutive candles which doesnt touch the ema to qualify for entries.
And also it can be more the 3 candles also, so u need to change the code a bit.
don think this is needed: (Low <= EMA4) as we are only interested in candles that dont touch the ema. And only one buy signal and only one sell signal per trend.
in your code i dont see anywhere that you count pips of candle body ......The indicator is to determine if 3 consecutive bars's highs or lows are above or below the EMA. The (Low <= EMA4) is there to only show the arrow if it is the first three bars in the signal otherwise you have a chart full of arrows; remove it and you'll see what I mean.
My code is logically correct; if MT4 displays the arrow if one the the bars touches the ema it's because MT4 doesn't do just 1.3678 but rather, for example, 1.367823342. So if the high of the bar is 1.367823341 then according to MT4 it is below the ema.
If needs be, I'll try and change it so that there's at least one pip difference.
Just let me know.
OK I think I've eliminated the bar touching ema problem. Download it again and see.
can u put condition for 10pips ? and also it can be more then three consecutive candles only make sure they are not touching the ema and total pips of body of those candles is more then 10pips.
You only need to show the three bars. Just remove the "&& (high4 >= EMA4)" and "&& (low4 <= EMA4)" conditions if you want to show more than three candles. Though to me this seems superfluous.
I will try and add the 10 pip condition but that's a lot more complicated. The original request was for an indicator to show three or more candles that close above or below the ema.
Jn, can you programme it as per the system rules, so we can test the system ?
JNRTRADING - Thanks for the indicator This is sort of what I was looking for. All I need now is to have an audible alert the same time that arrow shows up.
I made a couple of trades tonight and thursday if you need a visual then I can post one, but looks like you got the idea of what I was looking for.
Once again many thanks.
If you are not able to program it so that i can reconize the 10 pips within the candles thats ok to but if you can that would be great also..
Looking to hear back from you soon.
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I have a 10 PIP system with very litte draw down that has been profitable for me.
I would like to share it with you in hopes that someone can help me create an indicator for.
First off I use a 5 minute candle chart with an Exponential Moving Average of 10.
The rules for entering a trade...
I have to sit at my computer and watch for:
1. Three or more consecutive candles to close either above (for a LONG trade) or below (for a SHORT trade) the 10 EMA. These three or more consecutive candles bodies and wicks included MUST NOT touch the 10 EMA line.
2. If the 1st criteria is met, The bodies (only the bodies not the wicks) of these three candles must equal 10 or more pips before I consider entering the trade. These candles can be any color (bullish and bearish combined is ok, Color of the candles DOES NOT matter) so long they are not touching the 10 EMA and they equal 10 or more pips.
If you do not have three consecutive candles whose bodies are equal to 10 pips then you must wait for the next candle to close to accumalate 10 or more pips before entering a trade.
Example: If the first candles body is 4 pips and the second candles body is 2 pips and the third candles body is 2 pips that is only 8 pips total so you must wait till the next candle closes, lets say the next candle closed at 3 pips now you have a total of 11 pips. All candles bodies and wicks MUST NOT touch the 10 EMA line. If all of these requirements are met then a trade can be entered. Long if candles are above 10 EMA or Short if candles are below the 10 EMA.
Take Profits at 10 PIPS. You may ride the trend for as long as each candle opens in the direction of the trend. eg. long trend candle opens bullish short trend candle opens bearish, and candle is above or below the 10 EMA.
Personally I DO NOT ride these I take profit at 10 PIPS.
STOP LOSS is set 10 pips above or below the highest lowest candles wick. eg. Long position look for the lowest candles body or wick to the 10 EMA line add 10 pips to that to get your stop loss.
That is it that is my System.
So I guess what I am asking for is for someone to program an indicator for me basically to let me know when three or more candles close above or below the 10 EMA line (not touching the line) so that I can look for a possible entry.
I am not sure if this is possible or not.
Any questions are welcomed.
Thanks in advanced
Alden