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Rules
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Specification
The indicator is based off a points system, compiling the data points of other indicators to create a yes (green light) or no (red light). I currently have the following 6 indicators (listed below) and in order to make a trade, this points indicator should indicate whether or not 3 or more of these indicators are positive. If 3 or more are represented, it is a green light. If less then 3 are shown, it is a red light.
Below is the indicator data:
Each trade is made off of the main indicator; the PipFinite Trend PRO Indicator. (If you need this information: period setting is 3, all other settings are default)
Main Indicator: PipFinite Trend Pro ( PFTP) - Buy/sell trades are conducted on their respective indications ONLY IF 3 or more out of 6 possible points of the below indicators are represented.
1. SMA - (Period=50, applied to CLOSE price)
(If PFTP BUY signal appears ABOVE SMA50 then +1 point/ if BUY signal is BELOW SMA50 0 point OR If PFTP SELL indicator appears BELOW SMA50 then +1 point/ if SELL signal is ABOVE SMA50 0 point).
2. Order Block Breaker Indicator (downloaded from MLQ5 website) (aggressive mode turned on)
(+1 point if a relevant Breaker (UP breaker for PFTP BUY signal OR DOWN breaker for PFTP SELL signal) appears in the past 10 candles, 0 points if no Breaker)
3. Order Block Breaker Indicator (downloaded from MLQ5 website) (aggressive mode turned on) DAILY HIGH/DAILY LOW
(If PFTP SELL signal appears ABOVE daily high +1 points OR If PFTP BUY signal appears BELOW daily high +1 points
4. Pin Bar Indicator (downloaded from MLQ5 website)
(If DOWN Pin Bar appears within past 4 candlesticks of PFTP SELL signal +1 points/if NO pin bar within past 4 candlesticks 0 points OR If UP Pin Bar appears within past 4 candlesticks of PFTP BUY signal +1 points/if NO pin bar within past 4candlesticks 0 points)
5. Traditional MACD MT4 indicator (downloaded from MLQ5 website) (fastEMA-12,SowEMA-26,SignalEMA-9, CLOSED PRICE) -
(If MACD is BELOW 0 level during PFTP SELL signal +1 points/if MACD is above 0 level during PFTP SELL signal 0 points OR If MACD is ABOVE 0 level during PFTP BUY signal +1 points/if MACD is above 0 level during PFTP SELL signal 0 points
6. Traditional MACD MT4 indicator (downloaded from MLQ5 website) - DIVERGENCE (fastEMA-12,SowEMA-26,SignalEMA-9, CLOSED PRICE)
(If DOWN divergence appears within past 4 candlesticks of PFTP SELL signal +1 points/if NO divergence within past 4candlesticks 0 points OR If UP divergence appears within past 4 candlesticks of PFTP BUY signal +1 points/if NO divergence within past 4candlesticks 0 points)
This is somewhat complicated to explain but in code it should be fairly simple. If the coder wants to put their own spin on it or needs to work around some things that wont work on here that is okay, as long as the finished product gets the job done. Attached (capture.PNG) is a picture showing each indicator.
