ToR 1.02 I wrote my first indicator!
This indicator shows you whether a pair is trending or ranging.
For trending markets use moving averages and for ranging
market use oscillators.
It shows ADX values for multiple timeframes to help you
decide which trading technique to use.
Sometimes you'll see short-term trends against the H4
and D1 trend.
It's up to you whether you trade in a ranging market. It seems
to me that trading with the long-term trend is best.
Having said that, the reason why I made this indicator is to
to let the trader decide at a glance what to do, or even to
do nothing. Staying out of a market is a position too.
I may adjust the spacing between the objects, but it's useable
right now. If it messes up in use and displays garbage please
take a screenshot and post it on the forum then shoot me an
email, I will debug.
I've included two screenshots, one with a ranging example and
one with a strong trending example.
Green is up, Red is down, Blue is ranging. There are two arrows
for both up and down depending on the strength of the trend.
There is a 45 degree arrow up and down for beginning trend and
a 90 degree arrow up and down for strong trends. The squiggly
lines represent ranging.
Also, it seems to me that in ranging markets you'll get conflicting
info from ADX on different timeframes.
1.02 - added arrows, ranging icon, no zero space state
for icons/arrows, spacing got messed up, now
1.01 - unreleased, reduced number of colors, functional
1.0 - unreleased, too many colors for ADX values
Thanks for sharing this. Your contribution to this board is most welcomed. This one can be added to my list of filters and hopefully be implemented in some systems in the near future.
Cool, I hope everyone makes good use of it.
hi nittany1, what time frame the best to use this indi ?..and how ur strategi when ur use this indi ?..could u can share with us...
Can u code a similar indicator but using RSI instead of ADX? It will be much appreciated. Thanks
hey it's you, the one who posted that you created an indicator that can help the cornflower system. I appreciate your work but sadly lever doesn't like to use indicators. Thanks for posting it here.
Please look at my attachment. The indicator doe's not display properly all the colors, arrows etc. Do you know what can be wrong? I use IBFX
I think I got it...it works...but the arrows etc show up in different icons...in the past I noticed with other idicators that I'm missing the arrows...I suspect it may be a general font that I do not have on my computer that all of you have and use?!
Do you know the font name you "wrote" this indicator, New Times? etc? ...I will really appreciate if you can help me with this...It may be a simple answer and I may start finnally to see arrows on my indicators if I download the font on my computer....
Dont you worry man, the fonts used are all standard and found on all pcs. The fact that this indicator is designed to work on a black background, you cant see the arrows. Change your chart background to black and everything will be fine
Are you perhaps using MT4 under linux with WINE? If so, the guide at Howto: Metatrader 4 under LINUX may help.
If not, I believe the webdings or wingdings font is what you appear to be missing.
Will you please post the Indicator you use to place the "Day of the Week" on your "Period Separators" i.e. "sun, mon, tus, wed, thu, fri". Please see the attachment of your image I pasted in.