Indicators: Bull Bear Volume

New comment
 

Bull Bear Volume:

An indicator that provides a clear visualization of volume pressure on each side of the market

Bull Bear Volume

Author: Conor Mcnamara

 

The code that is uploaded is a bit messy. But I don't care now because of the fact that it was difficult to upload this (due to the validator).

If you want to make the total volume (white histogram) on multi-timeframe, then set MTF to true and turn these into inputs:

bool use_multi_timeframe = false;  // Enable multitimeframe mode
ENUM_TIMEFRAMES timeframe  = PERIOD_D1; // Timeframe to examine

and use this for the number of bars to copy:

int barsToUse = (use_multi_timeframe) ? iBars(_Symbol, timeframe) : rates_total - prev_calculated + 1;

or

int barsToUse = (use_multi_timeframe) ? rates_total / (PeriodSeconds(timeframe) / PeriodSeconds()) + 2 : rates_total - prev_calculated + 1;
 
Version 1.01 uploaded which is optimized and more in line with the original indicator design. 
 

i would like to say thank you to the author or developer of this indicator, i manage to turn it into an Expert Advisor in MT5 and i am doing back testing for it in strategy tester.. even though its going downwards, i am using 1:3 risk ratio with fixed 21 pips of stop loss and 7 pips take profit on GOLD. I am using multiple time frame analysis for entering the market.

i am hoping this 100% back test modelling data will provide profits when i reverse the signal using the same risk ratio which is 1:3 , 7 pips SL and 21 pips TP on real account

Wish me luck...

 

and this is for bitcoin using 1:3 risk ratio (fixed sl tp)


 
childrenofkoris #:

i would like to say thank you to the author or developer of this indicator, i manage to turn it into an Expert Advisor in MT5 and i am doing back testing for it in strategy tester.. even though its going downwards, i am using 1:3 risk ratio with fixed 21 pips of stop loss and 7 pips take profit on GOLD. I am using multiple time frame analysis for entering the market.

i am hoping this 100% back test modelling data will provide profits when i reverse the signal using the same risk ratio which is 1:3 , 7 pips SL and 21 pips TP on real account

Wish me luck...

Simply reversing the signals does not usually fix the problem. A losing system is not losing just for being "the wrong way around" but because its entries lack a positive edge.

In addition, spread, commissions, and the SL/TP asymmetry make inverted rules almost always unprofitable. The solution is not to flip the logic but to redesign the strategy from the ground up.

 
Miguel Angel Vico Alba #:

Simply reversing the signals does not usually fix the problem. A losing system is not losing just for being "the wrong way around" but because its entries lack a positive edge.

In addition, spread, commissions, and the SL/TP asymmetry make inverted rules almost always unprofitable. The solution is not to flip the logic but to redesign the strategy from the ground up.

thanks miguel for the advise, i am starting to realized that now.. im working on it as i go along.. following the indicator original signal has its edge, i just need to filter out the noise it creates so that it will enter the market at the right position.. or at least at the right trading session
 
As what was said...you cannot flip balance curves by "reversing the polarity" -- classic hollywood movie quote. You need to be careful, expert advisors are not to be "simply finished and used" by someone who has not been doing this too long. You have to understand that 7 pip and 21 pips means nothing on Gold. It's not a forex market, it's not using the same contract size as forex markets. Gold is measured in ounces....a 20 point move in a forex market is roughly comparing to a 200 point move in gold. You also need to realize that the current reading on this indicator can repaint, so you can't only use current reading in the expert advisor...you have to use current bar volume reading along with the completed volume reading on the two previous bars as well (roughly speaking).
New comment