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MetaQuotes Software Corp.
Moderator
181059
MetaQuotes Software Corp. 2010.11.12 08:36 

Doda-EMA Indicator:

Gives Buy, Sell and Exit signals based on EMA

Author: gopal krishan doda

MQL4 Comments
16319
MQL4 Comments 2010.11.13 19:48  

"Cut your losses small & ride the profit long"

This is great advice.

Please tell me, in a losing position, how do I know that price will continue against me so I can cut my loss??

also, in a winning position, how do I know that price will continue in my favor so I can ride the profit long??

Thank you for your wisdom.

gopal krishan doda
62
gopal krishan doda 2010.11.18 15:58  
michaelB:

"Cut your losses small & ride the profit long"

This is great advice.

Please tell me, in a losing position, how do I know that price will continue against me so I can cut my loss??

also, in a winning position, how do I know that price will continue in my favor so I can ride the profit long??

Thank you for your wisdom.



For that, you need to use some stop-loss indicator like Parabolic SAR, Kijun-sen line of Ichimoku or Donchian Channel. Will post Doda-Donchain indicator in coming days, that will help you a lot.

Gopal Krishan Doda

gopal krishan doda
62
gopal krishan doda 2010.11.19 17:36  

michaelB:

"Cut your losses small & ride the profit long"

This is great advice.

Please tell me, in a losing position, how do I know that price will continue against me so I can cut my loss??

also, in a winning position, how do I know that price will continue in my favor so I can ride the profit long??

Thank you for your wisdom.



Hello,

As I mentioned earlier about Doda-Donchian indicator, you can check the same on http://codebase.mql4.com/en/code/9986. It will solve your stop-loss problem

Hope it will help you.

carlos
82
carlos 2010.11.19 19:08  
I just want to say thank You, this is a great indicator. I usually trade naked, but this indicator is well worth being in my charts.
gopal krishan doda
62
gopal krishan doda 2010.11.21 14:57  
csbueno:
I just want to say thank You, this is a great indicator. I usually trade naked, but this indicator is well worth being in my charts.

Thanks for your positive feedback & it's my pleasure that you like this indicator. Will surely share more such indicators in coming days with all of you.

Doda

Protege LCR
51
Protege LCR 2010.11.23 22:30  

gkdoda thanks for the indicator. it is one of the best i ve found yet.

michaelB my advise to u is that u shouldalways have target anytime u are in a trade. what i mean by target is the no of pips u want to make. if it is say 15pips, immediately u reach it that is it. but if u can't make up to that, what is your worst case scenario, 8pip? it depends on your target.



gkdoda:

michaelB:

"Cut your losses small & ride the profit long"

This is great advice.

Please tell me, in a losing position, how do I know that price will continue against me so I can cut my loss??

also, in a winning position, how do I know that price will continue in my favor so I can ride the profit long??

Thank you for your wisdom.



For that, you need to use some stop-loss indicator like Parabolic SAR, Kijun-sen line of Ichimoku or Donchian Channel. Will post Doda-Donchain indicator in coming days, that will help you a lot.

Gopal Krishan Doda

gopal krishan doda
62
gopal krishan doda 2010.11.24 04:51  

Hello salakosunday,


The target depends upon person to person risk-appetite, time-horizon and knowledge. A person is who is trading on H4 timeframe and has just taken position on breakout, might want to wait for few hours to few days for the target of 400-500 pips. On the other hand, on the same breakout on timeframe M15, a person may exit happily after getting 15 pips. It's upto you. I suggest to trade in Forex on higher timeframe; not less than H4, with strict stop-loss. You'll have sound sleep with good pips. :-)

Hope it will help you.

InvestmentKit.com

MQL4 Comments
16319
MQL4 Comments 2010.11.26 15:49  
gkdoda:

Hello salakosunday,


The target depends upon person to person risk-appetite, time-horizon and knowledge. A person is who is trading on H4 timeframe and has just taken position on breakout, might want to wait for few hours to few days for the target of 400-500 pips. On the other hand, on the same breakout on timeframe M15, a person may exit happily after getting 15 pips. It's upto you. I suggest to trade in Forex on higher timeframe; not less than H4, with strict stop-loss. You'll have sound sleep with good pips. :-)

Hope it will help you.

InvestmentKit.com

MQL4 Comments
16319
MQL4 Comments 2010.11.26 15:53  

Hi Doda,

Thanks for this indicator. I find it very helpful.

Do you think you can add up and down arrow at the candle instead of the vert and hori lines ?

Enclosed below is an indi for EMA cross but for 2 emas only.

Putting arrows would be very visually convincing !!


tq

rozali

//+------------------------------------------------------------------+
//|                                         EMA-Crossover_Signal.mq4 |
//|         Copyright © 2005, Jason Robinson (jnrtrading)            |
//|                   http://www.jnrtading.co.uk                     |
//+------------------------------------------------------------------+
/*
  +------------------------------------------------------------------+
  | Allows you to enter two ema periods and it will then show you at |
  | Which point they crossed over. It is more usful on the shorter   |
  | periods that get obscured by the bars / candlesticks and when    |
  | the zoom level is out. Also allows you then to remove the emas   |
  | from the chart. (emas are initially set at 5 and 6)              |
  +------------------------------------------------------------------+
*/   
#property copyright "Copyright © 2005, Jason Robinson (jnrtrading)"
#property link      "http://www.jnrtrading.co.uk"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 SeaGreen
#property indicator_color2 Red
double CrossUp[];
double CrossDown[];
extern int FasterEMA = 14;
extern int SlowerEMA = 21;
extern bool SoundON=true;
double alertTag;
 double control=2147483647;
 
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   SetIndexStyle(0, DRAW_ARROW, EMPTY,3);
   SetIndexArrow(0, 233);
   SetIndexBuffer(0, CrossUp);
   SetIndexStyle(1, DRAW_ARROW, EMPTY,3);
   SetIndexArrow(1, 234);
   SetIndexBuffer(1, CrossDown);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start() {
   int limit, i, counter;
   double fasterEMAnow, slowerEMAnow, fasterEMAprevious, slowerEMAprevious, fasterEMAafter, slowerEMAafter;
   double Range, AvgRange;
   int counted_bars=IndicatorCounted();
//---- check for possible errors
   if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
   
   for(i = 0; i <= limit; i++) {
   
      counter=i;
      Range=0;
      AvgRange=0;
      for (counter=i ;counter<=i+9;counter++)
      {
         AvgRange=AvgRange+MathAbs(High[counter]-Low[counter]);
      }
      Range=AvgRange/10;
       
      fasterEMAnow = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i);
      fasterEMAprevious = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i+1);
      fasterEMAafter = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i-1);
      slowerEMAnow = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i);
      slowerEMAprevious = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i+1);
      slowerEMAafter = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i-1);
      
      if ((fasterEMAnow > slowerEMAnow) && (fasterEMAprevious < slowerEMAprevious) && (fasterEMAafter > slowerEMAafter)) {
         CrossUp[i] = Low[i] - Range*0.5;
      }
      else if ((fasterEMAnow < slowerEMAnow) && (fasterEMAprevious > slowerEMAprevious) && (fasterEMAafter < slowerEMAafter)) {
          CrossDown[i] = High[i] + Range*0.5;
      }
        if (SoundON==true && i==1 && CrossUp[i] > CrossDown[i] && alertTag!=Time[0]){
         Alert("EMA Cross Trend going Down on ",Symbol()," ",Period());
        alertTag = Time[0];
      }
        if (SoundON==true && i==1 && CrossUp[i] < CrossDown[i] && alertTag!=Time[0]){
       Alert("EMA Cross Trend going Up on ",Symbol()," ",Period());
        alertTag = Time[0];
        } 
  }
   return(0);
}
gopal krishan doda
62
gopal krishan doda 2010.11.26 16:12  

Hello mrozali1,

Many indicators uses arrow on screen to show result and sometimes you get multiple arrows on screen because of that. Very few indicators uses line strategy. So, I stick to it on all my indicators. And secondly, I truly accept that I don't know how to put arrow codes. Perhaps, someone else can do that.


DodaCharts

123
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