Fabii Confluence Oscillator
- Indicators
-
Fabien Georges Andre Guillemaud
I develop custom indicators and trading tools for MetaTrader 5. - Version: 1.23
Stop counting signals by eye: seven classic indicators vote in one score from -100 to +100. No repaint.
Any pair, any timeframe. On your chart in 2 minutes. Free to test in the Strategy Tester.
Get more indicators here
Baselines, volatility filters and oscillators. No repaint.
Why you need it
You stack several indicators in sub-windows and count their signals by eye. One turns up, another is flat, a third points the other way. You enter on a majority that was only one vote deep, price drifts for a few bars, then reverses. The signals were real. The agreement was not.
What you get
Fabii Confluence Oscillator gives you one score from -100 to +100 instead of seven separate readings, so you do not compare windows yourself.
- Seven classic indicators vote together in one score in percent, so you read the whole picture on one line.
- A weight for each vote, so you decide which signals count more.
- A gray dead zone around zero, so a lead of one vote does not look like a trend.
- A strong level, so you see when nearly all votes agree.
- Alerts on a direction change or the strong level, so you do not have to watch the chart.
- A Direction buffer (buffer 4: +1, -1 or 0) that an Expert Advisor can read, so you can build your own rules.
How it works
On each bar, seven classic indicators vote plus or minus their weight: price against a 13-period Exponential Moving Average (EMA), the slope of the Moving Average Convergence Divergence (MACD), the sign of the Moving Average of Oscillator (OsMA) and of the Commodity Channel Index (CCI), Momentum against 100, the Relative Strength Index (RSI) against 50, and the direction of the Average Directional Index (ADX). The sum is a percentage of the active weights, from -100 to +100. Closed bars never change. The bar still forming is drawn thinner and is not a signal. The score is buffer 0.
How to use it
- Attach the indicator to any chart.
- Read the color: green bars are a bullish majority, red bars a bearish majority, gray bars no clear majority.
- Treat a bar at the strong level as nearly all votes agreeing, and decide your entry with your own rules.
- Enable Popup, Sound or Push in the Alerts group to be told when the direction changes or the strong level is crossed.
Key settings
| Setting | What it does | Default |
|---|---|---|
| InpWeightMA to InpWeightADX | Weight of each vote. 0 turns that vote off. | 1.0 |
| InpMAPeriod, InpCCIPeriod, InpMOMPeriod, InpRSIPeriod, InpADXPeriod | Indicator periods. | 13, 14, 14, 14, 14 |
| InpFastMACD, InpSlowMACD, InpSignalMACD (same for OsMA) | MACD and OsMA periods. | 12, 26, 9 |
| InpWavePeriod | Score smoothing. 1 = off. | 1 |
| InpDeadZone | Scores within plus or minus this value stay gray. | 15 |
| InpStrongLevel | Strong agreement level. 0 = off. | 60 |
| InpAlertDirection to InpAlertPush | Alert events and channels. | Events on, channels off |
Other settings control colors, the sound file and display options.
Test it before you decide
To test it: open the Strategy Tester, select this indicator and run it in visual mode on your pair and timeframe. Let a bar close, then check that its value in the Data Window does not change. That is how you verify No repaint yourself.
Updates are free and included. Every release is listed in the What's new section of this page.
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Get it and see your first signal on your own chart.
Comments and reviews
Questions? Post a comment on this page or message me and you get an answer within 24 hours.
If this saves you time, a short review naming your pair and timeframe helps other traders find it.
Past results do not predict future results. This indicator does not provide financial advice.
