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Indicators: Doda-Trend

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MetaQuotes Software Corp.
Moderator
192428
MetaQuotes Software Corp.  

Doda-Trend:

Shows whether the market is trending or range-bound. Must to note before opening any position.

Author: gopal krishan doda

MQL4 Comments
16316
MQL4 Comments  

Thankyou very much Gopal!

May I know how you are calculating the market is in trend or trading phase.


Regards

Mayank Saini

gopal krishan doda
62
gopal krishan doda  

I've included the source code here. Just google the terms ATR and standard deviation and you'll be able to understand.

Hope it will help you.

DodaCharts

zzuegg
1505
zzuegg  

hmmm.

i have recodet your indicator to allow visual backtesting...

doesn't look that good...


//+------------------------------------------------------------------+
//|                                                 TrendOrRange.mq4 |
//|                                                                  |
//|                                       when-money-makes-money.com |
//+------------------------------------------------------------------+
#property copyright ""
#property link      "when-money-makes-money.com"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Green
#property indicator_color2 Red
//---- buffers
double buf1[];
double buf2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,5);
   SetIndexBuffer(0,buf1);
   SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,5);
   SetIndexBuffer(1,buf2);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
//----
   for(int i=Bars-counted_bars-1;i>=0;i--){
      if(iATR(Symbol(),Period(),14,i)>iStdDev(Symbol(),Period(),14,0,MODE_EMA,PRICE_CLOSE,i)){
         buf1[i]=Low[i];
         buf2[i]=High[i];      
      }else{
         buf1[i]=High[i];
         buf2[i]=Low[i];
      }
   }
//----
   return(0);
  }
//+------------------------------------------------------------------+
gopal krishan doda
62
gopal krishan doda  

Hello,


I've already mentioned that this indicator is not to take buy or sell signals. It only shows whether the market is trending or not. Just check it on higher-time frame H4 and reply back.

Thanks

MQL4 Comments
16316
MQL4 Comments  

Ohhh nice I may add this to my trend EA instead of using old stochastic crap to find trends. Thanks for the source too :)

zzuegg
1505
zzuegg  
gkdoda:

Hello,


I've already mentioned that this indicator is not to take buy or sell signals. It only shows whether the market is trending or not. Just check it on higher-time frame H4 and reply back.

Thanks

The green/red bars on my screenshot do not specify buy or sell signals. According to your indicator Red bars mean ranging and Green bars mean trending..

actually i works good if you know that i might signal a new type of market late. but it will mark ranging periods in the past. maybe good for a range breakout system ;)

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