I backtested it and i got 20+ alerts a few minutes before the bar was about to close.
Tested it too, and it seems top be working as it is supposed to work
I get this kind of reslut when i backtest it , i do use a band period of 2 .
Do not set the bands too tight
In that case it first breaks down and then up. There is no way to prevent that. If you artificially cause a break on both band sides, then you are going to get those results and the code will not be able to resolve simultaneous breaks of both bands at the same time (the case that you are having with your settings).
Morro, good question I've only heard of +100 and -100 being the maximum and minimum.and looking at the chart picture there seems to be no change between +100 -100 and +200 and -200.
Ive backtested it in very low speed just to see if the bands contract , pull together in or before a new bar is created and it dosnt , it seems that it alerts when it shouldent be , can ma averages be added , as smoothing to maybe help the indicator to alert when it should , or maybe by adding atr to it ?
Or is it maybe that the middle line isnt centered to the bands , i dont know .
That i know is that the indicator behaves exactly as i want it to , and that is rare .
If it would behave like other indicator in how it alerts , like most of channel , bands and envelope indicators , we have a winner !
thank you mrtools
The problem that i think is that it alerts on high and low . Is there a way to make it alert on current price break instead ? Because this indicator is incredible !
Can you please make the attached Average Range indicator multi tame frame? Thank you.
Try it out : average_range_mtf.mq4
Oguz, have this updated version with all the alerts.
I have tested that indicator. But the last three bars are changing color. What can we do to solve this problem?