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Great indicator, name?

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ozimacca
52
ozimacca  

I read this on another forum and I was wondering does anyone know the name of the indicator, or could someone write an indicator for MT4 please

"A similar tool I use is a Support indicator. I am not sure how it works but it looks back 100 periods and puts a dot at major price levels. I plot a horizontal line at each dot in all the timeframes and you get really good s/r. It marks all S/R that price has spent alot of time respecting etc..

If you start with this indicator at weekly, work your way down thru each timeframe, drawing horizontal lines at each dot, working down to 15min. When you zoom back out to daily you will notice clusters at certain levels. It seems price really likes to cluster at certain levels. You can then trade off these levels with pretty reliable signals."

Could this be written to read multiple time frames and display on one chart with one application, lets say read 15, 30, 60,240 and daily and show them on all time frames. Maybe too many lines for it to draw, so how about two applications with higher TF on one and lower TF on the other ?

Link to screen shot of chart

https://www.mql5.com/go?link=http://www.moneytec.com/forums/

This sounds like it could be OK

Thanks

Macca

Scorpion
4110
Scorpion  

Well, I see "ChannelSnipnetsTime" in the screenshot. Maybe that's the name of the indicator.

Anyway, I guess the dots act as resistant line, since they sit on the highest high for the 100-day period.

tokche
3
tokche  

i lost all my margin anyody can help..i am very expreciate if anyboby help me ..

The_Snowman
87
The_Snowman  
tokche:
i lost all my margin anyody can help..i am very expreciate if anyboby help me ..

Plan A - demo trade for 6 months, if you still lose all your margin, go to Plan B ...........

Plan b - give up................

rakasya
20
rakasya  

Plan C - is ???

adrian76
27
adrian76  

Hi there. Concerning indicators you can use in metatrader 4, there are many of them. It doesn’t depend of their hard or easy way to understand them what you have to evaluate to make a choice. Actually I think it depends of the trader’s skills. I mean some traders may prefer 2 or 3 particular indicators because they really understand them and others traders may use 2 or 3 different indicators cause they understood those. The platform that I’m actually using has over 30 indicators that I can use or try if I want… almost impossible to can’t find one which fits with your sk

Adrian76

cale_johnson
8
cale_johnson  
adrian76:
Hi there. Concerning indicators you can use in metatrader 4, there are many of them. It doesn’t depend of their hard or easy way to understand them what you have to evaluate to make a choice. Actually I think it depends of the trader’s skills. I mean some traders may prefer 2 or 3 particular indicators because they really understand them and others traders may use 2 or 3 different indicators cause they understood those. The platform that I’m actually using has over 30 indicators that I can use or try if I want… almost impossible to can’t find one which fits with your skills!Adr

30 indicators?? How on earth do you keep up with 30 indicators?

vanes7
13
vanes7  

I imagine that for some traders the number indicators may be a reason to get or not a platform. If you get 30 in a platform, it means you can find really useful just some of them, maybe 2 or 3, maybe all 30. It depends how those fit your expectations and your skills. In these crisis times, you might take in mind as much as you can to take your decisions. Adrian, I would like to know which platform are you actually using and give us some tips, as which indicators to use! Thanks. Vanes

cale_johnson
8
cale_johnson  
vanes7:
I imagine that for some traders the number indicators may be a reason to get or not a platform. If you get 30 in a platform, it means you can find really useful just some of them, maybe 2 or 3, maybe all 30. It depends how those fit your expectations and your skills. In these crisis times, you might take in mind as much as you can to take your decisions. Adrian, I would like to know which platform are you actually using and give us some tips, as which indicators to use! Thanks. Vanes

Well, as a matter of fact, I’m also a bit curious as to which platform gives you all those indicators. Speak up Adrian!

duvuacris
13
duvuacris  

I know you are waiting for adian´s answer , but I wanna say that a good platform on from Tradeview, so think you can use it, It got me a good list of indicators.

cale_johnson
8
cale_johnson  

Actually, a reply from anyone will do, thanks a bunch, I’m gonna go check it out.

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