Signal Confirm
- Indicators
- Version: 1.0
- Activations: 20
Signal Confirm watches one symbol and tells you when a trend setup has passed a fixed chain of checks. It works on any symbol and any chart timeframe. It reads only the M1 prices, the prices of the oscillator timeframe (M5 by default) and the daily prices your terminal already has, does not use any server, does not send anything out, and does not open, change or close orders. It shows what happened and when; the decision stays with you.
What It Does
When the chain below is complete, the indicator draws an arrow on the entry candle (the candle that follows the confirming one) and, for the newest mark, three horizontal lines: the entry price, the stop and the target, all carrying the prefix SConf_ in their names. A short text in the corner of the chart says at which step the current setup is, shows the newest mark and the lot size that would risk the chosen percent of the account balance at that stop; the balance is only read and shown, nothing is sent. Earlier marks stay on the chart (the newest few hundred at most) so that you can see how each setup developed afterwards.
How A Setup Is Confirmed
Step 1, trigger: the momentum oscillator on its own timeframe (M5 by default) is at or above 55 (at or below minus 55 for a short setup), the M1 candle closes beyond the previous day's high (low), and the move from the previous close is at least 0.7 percent. The percentage is an input and should be lowered for currency pairs and raised for crypto symbols. Step 2, touch: within 480 minutes the price comes back to the trend dots on the same side (the dots are calculated inside this indicator, no other indicator is needed). The setup is dropped if the dots flip to the other side or the oscillator falls to 25 (for a short setup: rises to minus 25). Step 3, confirmation: within 120 minutes after the touch, the first M1 candle that closes beyond the extreme of the previous candle in the direction of the setup, with the dots on the same side and the oscillator at least 45 away from zero. By default the confirmation counts only inside two time windows of the UTC day (06:30 to 08:30 and 12:30 to 14:30); the windows can be changed or switched off. The entry mark is placed at the open of the next M1 candle. The stop is the dots level of the confirming candle and the target is 1.5 times the stop distance. The indicator then replays the setup on the prices that followed: the target, the stop, or the stop after break-even (the stop moves to the entry once the price has moved in its favour by half of the stop distance). When one candle reaches both the stop and the target, the replay counts the stop first. No new setup is searched while that replayed trade is still open, so marks never overlap, and the corner text can keep saying that it waits for a trigger during that time. At most three marks are drawn per day.
Reading The Chart
Blue arrows mark long setups, orange arrows mark short setups; both colours are inputs. The description of every arrow (open the arrow's properties) gives the entry, stop and target and how the setup ended on the prices that followed. For the newest mark the lines show where entry, stop and target lie; they run to the candle after the one on which the replayed trade ended (for a trade that is still open, one hour ahead of the latest candle). The corner text names the current step: waiting for a trigger, waiting for the touch, or waiting for the confirmation. If the history is not loaded yet the corner shows a short message and the marks appear when the data arrives.
Input Parameters
OscLong and OscShort - the trigger levels of the oscillator. OscConfirm - the level needed at the confirmation. OscCancel - the level that cancels a setup. DailyChangePct - the minimum move from the previous close. TouchWaitMin and ConfirmWaitMin - the time limits of step 2 and step 3. ProxAtr - how close to the dots counts as a touch, as a share of the average true range. StopBufAtr - an extra stop distance beyond the dots. TakeProfitK - the target as a multiple of the stop distance. MaxPerDay - the daily limit of marks. UseSessions with Win1From, Win1To, Win2From and Win2To - the two time windows as HHMM in UTC. ServerWinter, ServerSummer and UsDstRule - your broker's time zone. RiskPercent - the risk used for the lot size shown in the corner. HistBars - how many M1 candles are replayed. OscTF, OscWin, OscMult, DotsMult, AtrPer and EmaN - the oscillator timeframe, its normalising window and the trend-line settings of the oscillator and of the M1 dots. ShowLevels - draw the entry, stop and target lines of the newest mark. AlertPopup and AlertSound - the alerts. ColorLong and ColorShort - the colours of the arrows.
Alerts
An on-screen alert (if AlertPopup is on) and a sound (if AlertSound is on) come as soon as the confirming candle has closed and a new mark is drawn. There are no push messages, no e-mail and no sending of anything out of the terminal.
History And Data
The indicator needs M1 history of the symbol, the history of the oscillator timeframe (M5 by default) and D1 history that covers the replayed period; while that history is loading, the chart shows a short waiting message. On the first start it replays the last HistBars M1 candles to draw the older marks; after that it updates once per finished minute. Marks near the very start of the loaded history may differ from marks calculated with more history, because the oscillator depends on the path of the price.
Code Check
We checked the released build against an independent implementation of the same rules, written in Python and fed with the same terminal prices, on four symbols: gold, oil, a stock index and a crypto symbol. 57 marks came from the run with the time windows off and 21 from the run with them on, most with deliberately relaxed thresholds to get a sample large enough to compare. Every mark matched in time, side and entry price, and the terminal journal showed no errors from the indicator. The comparison checks that the code does what is described here; it does not say anything about how the setups behave in the market.
What This Product Is Not
It is not a trading signal service, it does not predict the market and it does not promise any result. A mark means only that a setup passed the checks above, nothing more. The time limits and distances that are not fixed by any single rule are our own choices; they are exposed as inputs so you can change them.
Notes
No trading functions, no network access, no files. Screenshots in this listing show the indicator on a demo symbol. They were taken with lowered thresholds (smaller oscillator levels and daily move, a wider touch distance, the time windows switched off, up to six marks a day) so that several marks fit on one chart; with the default values marks are rarer.
Support
Questions and bug reports through the product page comments. Please attach the symbol, the chart timeframe and the broker server time of the problem.
