I would like for you to help create 1) a version of macdcandlesadvanced to a tape histogram which shows neutral areas and trade areas and 2) push alerts for this new indicator when it is in the trade area, and when it gets into the neutral area. Thank you very much.
Here is a histogram version of that indicator. Alerts added too (on all 3 possible states of the indicator)
Mladen, thank you!!!
Do you know of any MTF trend indicator that can be back tested in strategy tester of MT4 ? Can you please post it here, if there're any ?
Thanks in advance,
It seems that they have changed something in that backtest and now we can not use multi time frame indicators in backtest - I do not know when did they change this, but something is very wrong with this now. I am having a beta version of metatrader 4 too on my PC so I am not sure if it can interfere with build 509 - need to check that, but it seems that from last changes, if you are not calling indicator from an EA, it does not work in multi time frame mode (iBarShift() function returns completely wrong values all the time)
Could you please confirm: green and orange are the trade areas and gray is the neutral area? Where are the entry and exit points?
Yes, it is so (regarding colors)
As of entry and exit points (just one possible way of using) : if we follow the logic of applied to that indicator, then the entry points (or re-entry for the aggressive type of trading) could be when either trading zone appears and exit points could be when an opposite signal appears (for aggressive type of trading) or when neutral appears (for conservative type of trading).
Aggressive would mean that you would open multiple orders in the same direction while the conservative would be just one opened order at the same time
PS: I do not remember exactly who asked that the colors should be coded that way. Maybe better way of using it could be explained by the one that asked that particular kind of color coding
Yes, thanks mladen for the tip. I find it quite an interesting indicator because the gray area gives you an indication of a potential change of trend while the trade zone catches the most profitable part of the trend. When combined with a short and long moving averages it may result with a trading edge. Talking about multiple orders in the same direction, do you mean a few orders for different FX pairs or do you mean one order for one pair and then more orders added for this pair when the trend develops?
What I meant are multiple orders on te same symbol when the trend develops (for example you get a signal for a buy, then a neutral and then again a buy signal - in that case, using aggressive trading type, you would open two buy orders on both buy signals).
Ichimoku chart is a great indicator. However, it is messy on the main chart. I’d like to have a MTF indicator that shows MTF status of the Ichimoku chart in histogram (the bars of the histogram are equal in height but in different colors). I’d like it to work this way:
Histogram shows blue when
-Price is above cloud & Tankan sen is above Kijun sen & Chinkou span is above price
Histogram shows red when
-Price is below cloud & Tankan sen is below Kijun sen & Chinkou span is below price
Histogram shows white color when Ichimoku chart is in other status.
Can you please create such a MTF Ichimoku indicator ?
Can you kindly help modify/add histogram on slope with two additional colors on the attached volatility indicator? Thank you very much.