How to estimate tyhe market condition:
red lines are for sell (sell lines), blue lines are for buy (buy lines). So, bullish (uptrend) and bearish (downtrend) are separated by color of the lines in this indicator. Buy is main blue line is above blue signal line and both are in uptrend. If "sell within no buy" - this is correction (opposite for rally). if "no buy" and "no sell" - this is flat.
Forum on trading, automated trading systems and testing trading strategies
Gold is Reaching at 1270
Sergey Golubev, 2013.07.01 21:04
How can we know: correction, or bullish etc (in case of using indicator for example)?
well ... let's take AbsoluteStrength indicator from MT5 CodeBase.
bullish (Bull market) :
bearish (Bear market) :
ranging (choppy market - means: "buy condition" and "sell condition" on the same time) :
flat (sideways market - means: no buy and no sell) :
correction in bull market condition :
correction in a bear market (Bear Market Rally) :
Bollinger band cross alert indicator
Sergey Golubev, 2018.06.24 08:03
I found the following indicator in CodeBase -
iBBFill - indicator for MetaTrader 5
The indicator plots the Bollinger Bands ®, filled with different colors depending on the trend direction.
If the price crosses the upper bound (upward trend), the Bollinger Bands fills with blue color, if it crosses the lower bound (downward trend), the Bands filled with pink color.
If the price crosses the middle line, it's considered as a flat, and the Bands filled with grey color.
Good EA was published based on standard Ichimoku indicator -
Ichimoku - expert for MetaTrader 5
And please find the key threads/posts related to Ichimoku indicator/systems -
The thread about threads: what's going around the forum everywhere
Sergey Golubev, 2018.08.09 16:07
Interesting (and well-known) indicator was published today for Metatrader 5 -
Trend direction and force - indicator for MetaTrader 5
This indicator was made originally for metastock a long, long time ago.
There are multiple metatrader 4 versions but they were not converted to metatrader 5 yet. So here is the "basic" version of the trend direction and force index indicator for metatrader 5. It is showing the direction of the trend and also the intensity of the trend. Usually the signals are when the trend direction changes for the first time.