Please, may I join, Chartista to request that the indicator he attached above be made an MTF indicator in addition to the arrow request.
Thank you as we await your mmuch appreciated response.
As far as I see that indicator is already a mtf (just set the minutes to desired time frame)
Other than that is is a macd and as far as I know there are already macd indicators that are made to work that way
And in what time frame u take entry according to this system?. 15 min 1 hr or 4hr?
Thank You So Much - I got it.
Thanks do much akrolytis - I got the Indicator.
Know there's one around but couldn't find it, so made this one.
Mr Tools, thanks to your code, I was able to create 3 more candle patterns and tested them all. The 1-12-12 pattern was the most successful, followed by the 5-1-1 so I am happy with the results. However, all of these indicators (attached) are sometimes giving the opposite alert when the candle closes after the arrow. If the pattern is down and the trade is a winner, when the price starts to move up again, it will say UP, trying to predict a reversal. Maybe I did something wrong with those less than and greater than brackets. I'm sure it's something simple...I just don't know what. Been working on them all morning but no luck. Hope you can help again.
Protrade what's the buy/sell sequence for these?
The 5-1-1 is formed with 7 candles. It attempts to predict an end to a sideways market. The first five are opposite to each other (bull, bear, bull, bear, bull), the 6th is the same as the 5[SUP]th[/SUP] and the 7[SUP]th[/SUP] (the signal candle) must be opposite to the 6[SUP]th[/SUP]. Eg. (bull, bear, bull, bear, bull, bull, BEAR).
The 1-12-12 pattern consists of 6 candles. The first could be bull or bear, then two together both opposite to the first, then two more both opposite to the 2[SUP]nd[/SUP] and 3[SUP]rd[/SUP]. The 6[SUP]th[/SUP] is the signal and it is opposite to the 5[SUP]th[/SUP]. (Eg. bull, bear, bear, bull, bull, BEAR).
The 3-in-a-row trend ride alerts after the third bullish or bearish candle in a row, and continues to alert on the fourth, fifth, six, etc until an opposite candle forms to break the trend.
There should be no more alerts after the patterns are complete on these indies, only when another pattern is formed, which takes a while. But as they are now, I am getting an alert on the 5-11 on the 8[SUP]th[/SUP] candle to do the reverse trade. On the 1-12-12, the alert is on the 7[SUP]th[/SUP] candle to do the reverse. The 3-in-a-row trend ride should only give alerts with the trend. i.e. after the first alert on the 3rd bullish candle, it should alert only after the fourth, fifth, sixth candle, etc starts off bullish, not alert to sell if a bullish candle in the pattern goes bearish, and vice versa in a bearish trend. Simpler...after the third one up, no sell alerts until 3rd one down pattern is formed.
Protrade try them out now, think I got them to what your looking for. BTW from what I could see the 1-1212 was good according to your conditions.
Updated 3-in-a-row-trend_ride posted here : https://www.mql5.com/en/forum/180648
Thanks Mr Tools. They are better now. You have been a great help to me. Your labeling of the bulls and bears brackets makes it a lot easier to figure out too.