Pullback Detecter

MQL4 Indicators Forex

Specification

I need one pullback MT4 indicator that complies with either the following conditions, and with email alert: -


Condition one:

1. With the Daily & Weekly trend based on:

For uptrend: -Price is above 50MA, and 50MA is above 200MA, -Not violating the formation of higher high & Higher low concept.

For downtrend: -Price is below 50MA, and 50MA is below 200MA, -Not violating the formation of lower high & lower low concept.


2. To show pullback (in direction of the trend as above) on either of the following           conditions or combined together (as customized setting on indicator):

- Off minor (most recent) or major Support/Resistance level/zone.

- Off Trendline (as on third touch or higher). TL must not cut through candle body.

- Off MA (either 50 or 200). - Off 61.8 or 50% Fibonacci levels (as an additional option).

(The followings must apply to “Condition One” of this indicator:

a) D & W timeframes must agree, and can be customized to any other consecutive two timeframes such as 4H & Daily; Daily & Weekly; Weekly & Monthly.

b) Both Moving Averages 50 & 200 can be customized to SMA or EMA).

            (Example attached:  chart marked # 1)


Condition Two:

To show price pullback off neckline in following chart patterns:

- Head & Shoulder neckline,

- Double Top neckline,

- Double Bottom neckline,

            (Example attached: charts marked # 2 & 3) 

Files:

PNG
Chart_l_1.png
24.1 Kb
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Chart_d_2.png
20.5 Kb
PNG
Chart_b_3.png
91.8 Kb

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