This indicator is using AbsoluteStrength_v1.1 indicator.
Exact name is AbsoluteStrength_v1.1.mq4
Just check it inside Metatrader's folder.
And please find 2 templates for estimation of the market condition (indicators and templates). We can use it on D1 timeframe. To use it on H4 timeframe you need to change timeframe settings in AbsoluiteStrenghMarket indicator.
Unzip the file from the previous post, place indicators (all the files with .mq4 extention) to indicators folder (for example: indicators: C:\Program Files\MetaTrader4\experts\indicators), place 2 templates to templates folder (for example: C:\Program Files\MetaTrader 4\templates).
For information look at this post: https://www.mql5.com/en/forum
The first template looks like this:
And it's how look the second template:
Few words about the settings.
Where to change timeframe?
The other important settings of the indicator.
It is market condition based on RSI, Stoch or ADX. I am using default one (RSI).
3 (default) is lwma.
If I need for this indicator to be the same with any broker so I am using ModeMA = 1 (1 is ema) and it is not too lagging using ema.
Choppy market inside the cloud on H4 (and not trading zone on D1 timeframe):
I am using templates and indicators posted on this thread.
So, we can see all support/resistance lins for H4 from the image posted.
And it is the image from this system:
So, the final resistance line for channel M5 system (blue dotted line for buy stop order breakout) is nearest resistance line on H4 Ichimoku.
Sometimes i am thinking that timeframe does not matter if we are trading the price action systems
Just interesting situation we have now.
It is EURUSD, H4 timeframe:
And it is USDCHF, D1. We can see support resistance levels and can predict something in the way:
- if price will break the ... level so buy at the target ...
- if ... sell ...
As it is market condition thread so I will post few images about what is oing on right now.
Indicators/tempates are from this thread (first page) and this one https://www.mql5.com/en/forum/174756