The only way to make any one of these indicator work is to use it on a triple screen (mtf) system and use "common sense" . To detect if you in a trend or in a range the best indicator is your brain! To detect if you are in an uptrend or in a downtrend, check for hh-hl/lh-ll, pa and s/r. And for easier trading and still have a life, trade the daily tf, anything under is unhealthy.
Indicators are good only to "confirm" what the knowledge of the pair and pa is telling you.
I also agree that trading in daily and monthly is less stressing, but for the most of us, is a luxury that (personally) I can't afford now. Trading in higher TF obly to cut my lots to half or even use only 20% of my actual lot size, coz sl must be at least 200 pips (depending the pair traded). So, 100 pips TP now can yield $ 100 or 1.000, but with lower lot only $20 or 200.
Is true that in daly TF your TP is 500 or 1.000 pips and once the trend is catched, you just look your PC once at day for a few minutes until it run to the S or R projected. Some ppl also add lots to the game when trend is clear . But as I said, you need a big pocket and mine is small in this moment. So, I have to keep trading stressing 1H and 4 H, allways watching daily (and sometimes monthly) for general trend, stablishing strong S/R in those TF, and watching how pa react when those levels are reached. S/R are very clear and respected by price in higher TF.
You don't need indicators in those TF. Just to zoom out the screen to see the jungle, draw sr lines acordingly and (maybe) a sma 20. And... a lot of patience and discipline, of course... ....
For me TIME is a luxury i can't afford. And i want to keep my day job for security. If i had no job, and only trading to do, i would probably trade 1hr-4hr time frame full time, (24hrs a day). And if you trade somewhere like Oanda, you could easily only risk 1% or 2% of account per trade, over 200 pips SL, with a 100$ account if needed. The important is the winning rate. Also, nothing is holding you from opening a sub account that you would trade on the daily while trading on the 1hr-4h main account. I have 3 sub account. First is my very tight main account, second is more loose, risky account. My third is experimenting account where i try High Risk whatever trade... Anyway, the MOST important factor is that every body needs to find his own trading system that's fit their own personality.
was this asked yet?
can somebody make this simple alert
when prices touches a moving average
II would like to request from you guys willims %R alert like when it crosses the -50 line
look for Indicator, price near EMA
someone know a indicator with alarm sound where i can give in the parameter how many pips the price is from the EMA , also variable input for the EMA, and give me a sound alarm.
or may be someone can program that
sample : if the price is <=5 pips above or below from EMA 35 the indicator will give alarm
thanks in advance for you help
Thanks C.E.O. i found the threads. i will study this.
thx for quick answer
I have this indicator called Forexofftrend that has a red line and a blue line and is plotted with the price.
I need to know if this indicator repaints the past to make it look more accurate than it might be.
Are there any candlestick pattern indicators out there that can give an audio alert when a pattern has formed?
What about RSI that gives audio alert when the indicator goes OS or OB?
I use the envelope indicator that comes with MT4.
I use it with a specific setting and shift it forward 1 bar.
I use it on the 15 min. chart.
Is there a way to audibly alert me when price closes above the upper envelope boundary or closes below the lower envelope boundary on the 15 min chart?