Indicator to filter the signals of existing indicator(non-repaint)

MQL4 Indicators

Specification

I need an Indicator, which should read bearish/bullish alerts from an existing non-repaint Indicator (PZ Candle Pattern) and filter the alerts as per given rules and drop the filtered alerts and fire the qualified alerts.

About Existing Indicator (Candle Pattern Indicator)

E1 - Existing Indicator

·         Non-repaint Indicator
·         Bullish Alert – Blue Colour
·         Bearish Alert – Red Colour
·         Alert announce on candle close, on the closed candle
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Win/Loss definition for Signal Rule:


1. Win = A Bull Candle occurs after <Buy Signal of E1>, or a Bear Candle occurs after <Sell Signal of E1>.
2. Loss = A Bear Candle occurs after <Buy Signal of E1>, or a Bull Candle occurs after <Sell Signal of E1>.
3. Loss = A Candle with 0 sized body occurs after <Buy/Sell Signal of E1>.

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Signal Rule:

· Stage 1: Wait for [Input: Minimum (0+)] consecutive Losses to occur BY E1.
· Stage 2: After qualifying stage-1, fire the next signal of E1 (Fire Buy/Sell Arrow same time when E1 fires, mirroring E1 signal type (bullish/bearish).
· Stage 3: If Stage 2 Arrow gets a Win, return to Stage 1 to wait. Otherwise, repeat Stage 2 until a Win.

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Indicator inclusions:

·         Alerts: Popup
·         Configurable Arrow symbols, offsets and size/colours via Colours tab.

Alert line examples:


·       "[EURUSD, M1]: BUY/CALL   --- pearl"
·       "[EURUSD, M1]: SELL/PUT  --- pearl"


Special: (The signal should work with MT2IQ Indicator).

·         Specific low level request to ensure that Buy Signal output is via signal output buffer 0.
·         Specific low level request to ensure that Sell Signal output is via signal output buffer 1.


Source Code Required

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Project information

Budget
100+ USD
For the developer
90 USD