Forum on trading, automated trading systems and testing trading strategies
Gold is Reaching at 1270
Sergey Golubev, 2013.07.01 21:04
How can we know: correction, or bullish etc (in case of using indicator for example)?
well ... let's take AbsoluteStrength indicator from MT5 CodeBase.
bullish (Bull market) :
bearish (Bear market) :
ranging (choppy market - means: buy and sell on the same time) :
flat (sideways market - means: no buy and no sell) :
correction in a bear market (Bear Market Rally) :
How to Start with Metatrader 5
Sergey Golubev, 2016.08.12 17:07
Indicator from the post above? Blue lines (signal line and the dotted line) are the bullish. The combination of those lines are providing the information about the primary trend (bullish only), and the secondary trend. Red lines (2 lines) are for bearish.
Sergey Golubev, 2013.07.01 21:43
Thanks Golubev, is the indicator available for MT4? I read it but it is an MT5 indicator.
I did not find this indicator for MT4 in Codebase. There is almost same indicator (for MT4) in attachment (zip file) on this post, but I am not sure that it will work for MT4 build 600+ for example.
Golubev is family name.My name is Sergey:)
Well working Trading System !
Sergey Golubev, 2007.08.09 14:54
Yes, it may work with your settings (daily directional TF 30). But I think you should be more busy with the market condition than I am
Just to avoid autoclosing for example. I am trading M15 on monthly direction so I need to estimate market condition once per month for MN, Week and D1 timeframe. You probable need to do it every day for Week, D1 and H4 timeframe.
Please find template I am using for the market condition evaluation. TrendStrength indcator is understandable (blue line is uptrend). EA is using this indicator only. The other indicators: BrainTrading is understandable (arrow and dot on the same close bar is very strong signal), about Ichimoku indicator you may read some few posts on old thread (check sticky links thread for the link to the thread), and rules for AbsoluteStrength indicator is on sticky links thread as well (as a link to MTF AbsoluteStrength indicator thread).
I just open EURUSD H4 chart with this template: it is downtrend but the price came to the Ichimoku cloud so it indicates choppy market. Border of the cloud is resistance line and yellow line of Maksigen indicator is resistance line as well.
On D1 timeframe (EURUSD) we still having uptrend but our main indicator (TrendStrength) is showing downtrend (you will have sell orders only). But Ichimoku indicator: uptrend. BrainTrading is having strong sell signal but not for close bar (need to wait untill tomorrow just to validate this signal because it should be on close bar). AbsoluteStrength indicator is showing choppy market (downtrend and uptrend on the same time.
Very risky to trade.
AbsoluteStrength indicator: if uptrend and downtrend in the same time so it is shoppy market condition. If "not downtrend" and "not uptrend" in the same time so it is not-trading zone (we are not trading for this timeframe). If some trend was finished (we may see it in the upper lines: dotted line is above simple line with same color) but the other two lines below are indicating the trend started so it is correctional trend or counter trend.
Sorry for this terminolody ("uptrendand" and "downtrend") but it is the only way I may explain it.
Hahaz thx so much Sergey:DD
When you post code please use the VIDEO button
Hi Sergey, I am really glad to try these indicators you have shared but I have some problems regarding the indicator. I have uploaded the indicator cap screen in the attachment folder. My question: 1) what do the blue line, red line and white line on main chart mean?2) How can i determine the correctional downtrend. I am still quite confused about that.