Gold Score
- Indicators
-
Ali Junaid
Peace... - Version: 1.0
- Activations: 10
Final price 199/- USD after 10 sales
Gold Score rates every potential entry from 0 to 100 before it prints an arrow. Instead of one crossing, six independent checks are measured on each bar and combined into a single number, so the amount of agreement behind a signal is visible and weak setups can be skipped. Default settings are prepared for Gold (XAUUSD) on M15. Every distance is measured in ATR instead of fixed pips, so the same settings behave the same way on any broker, any symbol suffix and any number of digits. Forex pairs, metals, indices, energies and crypto are all supported.
What the score is built from
Baseline trend, 25 points. Position of price and the slope of the baseline.
Higher timeframe, 20 points. Trend direction on the timeframe above the chart,
read from the last closed higher timeframe bar.
Momentum trigger, 20 points. A pullback turning back with the trend, or a
momentum expansion when the breakout engine is used.
Volatility regime, 15 points. Current ATR against its own average, so flat and
disorderly markets score lower.
Candle quality, 10 points. Body size and closing position inside the bar.
Session, 10 points. Bar time against the active hours, in GMT, with automatic
detection of the server offset.
An arrow appears only when the total reaches the minimum score you set. The default minimum is 70.
Signals do not repaint
Each bar is calculated from that bar and older bars only, and the signal is confirmed when the bar closes. The arrow, the score, the entry, the Stop Loss and the Take Profit values stay exactly as they were printed. Higher timeframe readings use the last closed bar of the higher timeframe for the same reason.
This was verified on 6733 closed M15 bars of Gold by re-reading every historical bar again on every new bar, 393707 comparisons in total. No stored value changed.
On the chart
Buy and sell arrows with the score of each signal printed beside it, a baseline coloured by the current bias, and Entry, Stop Loss, Take Profit 1 and Take Profit 2 lines for the most recent signal.
The panel shows the live score, the current bias, the trend on M15, H1, H4 and D1, the volatility regime, the session state, the spread as a share of ATR, and
the full details of the last signal.
Levels
Stop Loss is placed either at an ATR distance or behind the recent swing, as you prefer. Take Profit 1 and Take Profit 2 are ATR multiples, so the distance
adjusts itself to the instrument and to the volatility of the moment while the ratio you chose stays the same.
Spread filter
Gold spreads differ widely between brokers and between sessions. Gold Score compares the current spread with the current ATR rather than with a fixed pip value, and holds a signal back when the spread is too wide for the size of the move being traded.
Alerts
Terminal alert, sound, push notification to the MetaTrader mobile application
and email. One alert per confirmed signal.
Use from an Expert Advisor
The values are published in indicator buffers and can be read with iCustom and
CopyBuffer. Buffer 4 is the score, buffer 5 the direction as plus one or minus
one, buffer 6 the entry, buffer 7 the Stop Loss, buffer 8 Take Profit 1,
buffer 9 Take Profit 2 and buffer 10 the ATR of the bar.
Settings
The defaults are ready to use. The setting most people adjust is the minimum
score. Raise it for fewer and more selective signals, lower it for more of them.
Notes
No DLL, no external files and no internet connection are used. The indicator
works on netting and hedging accounts and on every account type. It is a
technical indicator and it does not place orders.
A demo of an indicator cannot be run on a live chart. To try it, download the
demo and run it in the Strategy Tester in visual mode.
Questions and setup help are welcome in the comments section of this product.
