EA Switcher - page 11
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
AbsoluteStrengthMarket combined version (ASM combined)
We were stopped because it was necessary to create indicators or EAs to evaluate and predict particular market condition. The first step to solve this problem was made on this thread https://www.mql5.com/en/forum/174793 so I hope that we will be able to create this EA. Next step is the following: we will need the create market condition and evaluation/forecasting according to Ichimoku indicator and some other systems. And then only we will be able to create good EA Switcher.
The first indicator (or indicators) was created by Igorad.
It is AbsoluteStrengthMarket_v1.1. It was described starting from this page to this one.
------------------------------
Description of the color:
Blue: Up;
Red: Down;
LightBlue: Bear Market Rally;
Orange: Correction;
Yellow: Choppy;
White: Non Trade.
What is Bear Market Rally and Correction?
It is from here:
-----------------------------
Explanation of the settings.
TimeFrame. It is timeframe. Because this indicator is MTF version so we may attach this indicattor to D1 timerame with W1 (10080) settings.
Then you will see the settings of AbsoluteStrength_v1.1 indicator (ASM indicator is working with AbsoluteStrength_v1.1 only).
Text on the chart. TextSize is size of the text on the chart. TextDelta is location of the text on the chart (change this TaxtDelta to have desiable location of the text on the chart to move the text for example). DisplaySets: display all the settings of ASM indicator on the chart.
IndValue. It is the location of the lines of the indicator on the chart. For example if we want to attach 3 ASM indicators with different Timerame settings in one separated window so we are doing the following:
- during the attaching first ASM indicator to the chart we should set Fixed miminum and Fixed maximum in custom indicator's window (you will see it during the attaching before pressing OK to attach). If we want to attach 3 indiators on the same window so we will set Fixed miminum=0 and Fixed maximum=4. Then we will locate every indicator: first indicator will have IndValue=3, second one: IndValue=2 and 3rd one: IndValue=1. Every indicators should have the same Fixed miminum and Fixed maximum. Attached is the template as an example.
------------------------------
How to use.
If we are talking about market condition so we are talking about market condition of some particular day, or week, or month. It means that this ASM indicator is most usefull for H4, D1, W1 and MN1 timeframes. Of course we may use it with other timeframes as well but please note that this ASM indicator was designed for timeframes started from H4. To use it with M15, M5 timeframes for example we will need to cgange some settings of the ASM indicator related to AbsoluteStrength_v1.1 indicator.
Some example about how to use.
- Attach 3 ASM indicators to D1 timeframe in same separated window. Set first ASM indicator to current D1 timeframe (TimeFrame=0), second ASM indicator to W1 timeframe (TimeFrame=10080) and 3rd one for MN1 timeframe (TimeFrame=43200).
- We may consider uptrend on D1 if D1 ASM indicator's line is in blue color on close (previous) bar and W1 ASM indicator is in blue or lightBlue color. MN timeframe is optional.
- we may consider downtrend on D1 if D1 ASM indicator's line is in red color on close (previous) bar and W1 ASM indicator is in red or orange color. MN timeframe is optional.
- be comfortable with some other color: choppy market and not trading.
- if we are having choppy market condition on MN timeframe so it means that the trend direction are changing often on W1 timeframe so MN1 is optional.
- avoid trading on choppy (yellow color) and not trading (white color) market condition. For example: we are having uptrend on current D1 but choppy or not trading for W1: it means that we are not trading this day.
------------------------
Image.
We may see from the image attached abut how to use it.
Just some comments about the current market condition for GBPUSD D1:
- D1 - uptrend (on close bar);
- W1 is choppy market.
Conclusion: we are not trading GBPUSD today for trend followers trading systems. We may use some systems or EA which are good for choppy market. Of course the situation may be changes as we are having not trade on D1 and downtrend on W1 right now but it is on open bar and we will know exactly about it in the beginning of the next day (tomorrow when new D1 bar will be opened).
-----------------------------
Problems.
All the indicators are re-painting current open bar. All with no exception. This ASM indicator is MTF indicator so the current bars may be re-paint as well. So, please, for current timeframe use close bar only (previous bar). But if we attach indicator to D1 chart with W1 settings so current W1 bar may be re-paint as well. It is not visible on Monday and it is more related to the Friday for example (W1 bar is closed on Monday so it will not re-paint last close bar but we will still have open bar on Friday which will be closed next Monday). Thus, please, understand all difficulties and particularities working with MTF indicator. ASM is MTF indicator.
--------------------------------
I changed the imaged attached to the post #100 for more understanding about lines (post #100 was updated concerning the images attached).
Thus, those ASM indicators are very first step to describe all market condition with all the particularities.
Why first step?
Because this ASM indicator does not have any forecasting possibilities: this ASM indicator can not tell us about market condition in the end of the week or in the next week for example. This indicator may describe the current market condition situation. besides we may backtest this indicator concerning past market condition on the history.
Next step will be creating the next generation of the market condition indicators with forecasting possibility. We are having some ideas about how to do it. But those next indicators will be different from this ASM and will be based on completely different systems.
I think we will stop with this market condition issue when we will create 3 or 4 different market condition indicators with very different forecasting possibilities about future market condition.
That's all about ASM.
So, it was explanation about AbsoluteStrengthMarket indicators (ASM indicators):
AbsoluteStrengthMarket indicators: indicators to analyze the market condition. Read posts starting from this page to this one.
------------------------
On previous pages we may see some images D1 timeframe together with ASM indicators. I am using this template/indicators to estimate the market condition sometimes.
Please find all the indicators and template for that (attached). D1 timeframe.
Now D1 bar was opened on Alpari broker so we may analyze this template from previous post.
CADCHF.
We should open buy yesterday in the same time. I am not sure but may be it is too late today. May be not. Anyway, if we open buy yesterday so we should have +58 pips in profit now with 41 pips drawdown during the day.
Anybody is trading CADCHF and CADJPY?
CADJPY.
Not trading the 3rd day already: current D1 timeframe is in Not Trade condition (white color), other timeframes are in Choppy market.
USDJPY: Not Trade.
EURUSD: we are not trading (D1 timeframe). Because on D1 timeframe we see just a correctional trend (on close bar) together with downtrend on W1 but we are not treding corrections on current timeframe.
GBPUSD: not trading the second day already.
USDCHF: uptrend just started now on D1 timeframe with correctional confirmation on W1. Price came near resistance line (boder of the cloud) but anyway ...
AUDUSD and USDCAD: not trading today.
Anybody is trading USDSEK? Not trading today.
EURJPY, EURCHF and EURGBP: not trading. Will not post any image as you ay estimate by yourself using temlate posted on the previous posts.
Gold: uptrend.
And this template I am planning to use with new signals (see explanation on this page).
I think Ichimoku indicator is quite enough but we may use market condition indicator and few other indicators just to reduce the risk (and number of trades as well) and to use reasonable stop loss value).
what about alpha9 logic, to implement in the switch system ?
NewDigital,
Are these ASM indicators still underdevelopment? Igorad is a talented coder.
I find them very powerful and useful in the state they are in now. I use them for live trading.
I find it strange they are buried in this thread. Would it be possible for you to make a new thread with them all grouped etc so they may be more visible and some of the other gifted coders and tinkerers can see them.
I am afraid these may have not been given proper attention because the info is a bit scattered around.
ASM is just one tool to estimate the market condition. I have some more ideas and Igorad is having the other ideas. I think I will create the separated thread for this only if the next tool will be created. So this ASM is not final product. I hope we will see many more different kind of and because of many other indicators.