Indicators: Clear Method

New comment
 

Clear Method:

This indicator is based on the article: Getting Clear With Short-Term Swings by Ron Black

Author: erzo

 
Could you expand a little bit on it's interpretation? It seems similar to BWMFI. Thank you.
 
flaab:
Could you expand a little bit on it's interpretation? It seems similar to BWMFI. Thank you.

I can't copy the article, please find it yourself. But here is some explanation for the computing. In a downswing, some candle's Low is lower than the previous candle's Low in that swing, some is not. But a candle's Low is always lower than all the previous candle's High, and this is the invariant for a downswing. If a candle break this rule, it starts an upswing. It is the base nature of any stick chart, so do not need for any parameter. The histogram shows that how far is the current candle from breaking the rule, and so it can be considered as the strength of the movement.

For interpretation, you must be know, that it shows swings and not trends. A trend consists of many swings. But, if a movement is a swing in a larger timeframe, it easily can be a trend in a smaller one. Therefore, if you see a strong but not oversold/overbought swing in a larger timeframe, switch to smaller, and you can easily spot the pullbacks with the colored candles. Because the computing is based on highs and lows, but not colosing price, even the last candle's repaint is a rare event, but you should wait for a closed bar signal.
 

Hi!

Nice work!

Can you add two alarms (sound and message window), please?

1. First alarm is then "clear" is happen (break "clear" line, or candle color is change) after bar is close

2. Second alarm after "clear" line is flat and if slope of "clear" line was change in the same way as is color of flat line.

Regards, ChartWalker

 
ChartWalker:

Hi!

Nice work!

Can you add two alarms (sound and message window), please?

1. First alarm is then "clear" is happen (break "clear" line, or candle color is change) after bar is close

2. Second alarm after "clear" line is flat and if slope of "clear" line was change in the same way as is color of flat line.

Regards, ChartWalker

Hi ChartWalker!

Thaks for the tip, I added the code in a sepatate file (ClearMethodSignals.mq4). As I see, most of the signals are for pullback trading, but sometimes it gives great early signals for larger moves.
 
erzo:
ChartWalker:

Hi!

Nice work!

Can you add two alarms (sound and message window), please?

1. First alarm is then "clear" is happen (break "clear" line, or candle color is change) after bar is close

2. Second alarm after "clear" line is flat and if slope of "clear" line was change in the same way as is color of flat line.

Regards, ChartWalker

Hi ChartWalker!

Thaks for the tip, I added the code in a sepatate file (ClearMethodSignals.mq4). As I see, most of the signals are for pullback trading, but sometimes it gives great early signals for larger moves.


ERZOits really a nice work read that article one year now and i tried to find its code allover the net, i think its the 1st clear method indicator wrote to MT4, Thanks

Also if you could convert to MTF Clear method i think it will give more clear entry signals

Thanks again

 

hi erzo

please update MT5 Version ??

New comment