I am new at this website and at trading as well. I was looking forward to build a custom indicator based on a few rules:
Key support and resistance between years.
Support and resistance for the actual trend.
RSI period 6 - sell signal when rsi touches 75
RSI period 6 - buy signal when rsi touches 25
Stochastic - 14, 3, 3 settins.
buy signal when both lines go below 20 AND up 20 again.
Sell Signal when both lines go above 80 AND down 80 again.
Buy signal when macd reaches almost lowest point.
Sell signal when goes below 0
buy signal when macd goes above 0
Sell Signal when macd reaches almost peak point
Identify change of trend after market correction of at least 10%.
If price changes more than 30% of market correction, we confirm a change of trends - specific color / image / object that identify potential change of trends.
5- Identify the most popular trading patterns such as head and shoulders, revers H&S, rising wedge, falling wedge etc
Take data from Heiken Ashi to confirm trend direction.
If point 1-4 conditions are reached, verify key support and resistence. Dont give buy signal if its 5% close to resistance, dont give sell signal if its 5% close to support
Always sell and buy signal if the current market trend resistance and support is broken by 5% respectively.
Always sell and buy signal if the key historical resistance and support is broken by 2% respectively.
Anybody has any idea how to do this?
If you want to learn how to build it yourself, start with something much simpler, by looking through the CodeBase and then analysing the code while referencing the Documentation.
You can also have someone code it for you, as a Freelance job, and request that it be supplied with source code, and then you can study it afterwards.
Thanks Fernando for the insight :)
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