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Indicator Combine Merge by RunwiseFX

Allows multiple indicators to be combined into a single indicator, both visually and in terms of an alert. Indicators can include standard indicators, e.g. RSI, CCI, etc., and also Custom Indicators, even those purchased through Market, or where just have the ex4 file. An early alert is provided, say when 4 out 5 indicators have lined up, and a confirmed alert when all are in agreement.

A‌lso features a statistics panel reporting the success of the combined indicator by examining the current chart. The win rate, profit and draw down are calculated, based on a selected stop loss and take profit/exit regime. Results from other charts can also be shown together and ordered with the best performing symbols shown first - allowing cherry picking of best symbols/timeframes.

The product is easily configured using pop-up forms – see video. The product comes ready configured for the M30 period, using a range of standard indicators, with confirmation on the H4 timeframe.

Fully compatible with our range of EA panels, allowing easy conversion into an EA that can trade automatically.

‌‌Please see Comments tab for link to the manual.


Features

  • Combines multiple indicators both visually and in terms of an alert
  • Works with standard indicators and Custom Indicators, even if just have ex4 file or those purchased from market
  • Indicators are examined on candle close, by default, so no repainting
  • Choice of two configurable alert levels - early (say when 75% of indicators lined-up) and confirmed (all lined-up)
  • Shows trade result statistics of combined indicators with win ratio, profit and draw down - calculated in real-time by examining the current chart
  • Option to show table of statistics from other charts/symbols that the indicator is loaded on to - ordered by profit
  • Results show outcome of both early and confirmed alert, so can see which is performing best
  • Option to automatically select early or confirmed alert, depending on which has the higher profit, or win ratio
  • Realistic calculation of statistics by taking into consideration a selected stop loss, take profit/exit regime and spread
  • Stop loss can be specified either as fixed pips or using a variety of automatic calculation methods, including from a custom indicator
  • Statistics can also include effect of trading hours, partial take profit/exit, trailing stop loss and auto break even when target reached
  • Take profit and break even targets can be specified as either risk reward ratios or in pips
  • Pips can be optionally specified as a percentage of the Average Daily True Range, allowing it to automatically scale depending on the symbol
  • Shows simulated trades on the chart with open price, stop loss used, close price and profit
  • Automatic recalculation of statistics upon configuration changes, showing the effect on win ratio, profit and draw-down
  • One-click restore of previous configuration if change was not beneficial
  • Configured stop loss, break even and take profit prices are shown on chart for use with new trades
  • Easy to use configuration pop-ups
  • Choice of display formats, i.e. bar or histogram
  • Choice of alert methods, e.g. pop-up, email or mobile notification
  • Easy integration with our EAs for automated trading


‌Indicator Inputs

Use the CONFIG button to configure the system. Inputs are provided as an alternative and are fully described in the manual - see Comments tab for link to manual. Key inputs are explained below:

  • Main_alertConfirmedPercentage - Percentage of indicators that need to have lined-up for confirmed alert to happen
  • Main_alertEarlyPercentage - Percentage of indicators that need to have lined-up for early alert to happen
  • Main_alertResetLevel - How much indicator needs to go to other direction of alert reset to happen
  • Main_binaryOptionModeBars - If > 0 then number of bars before trade closes to simulate Binary Options


Using the Strategy Tester / Demo Version

Make sure the test is running at least at market speed for the buttons on the panel to work. Alerts appear in the Journal tab.


Converting Into an EA With Our Other Products

Can easily be converted into an EA for automated trading with our Trade Manager or Strategy Automator products (see video). The latter will also consider news events and provides a global take profit, say when an equity target on the account is reached.

SpeedBug
756
SpeedBug 2019.04.25 04:01 
 

Where do I start...

Most importantly, support is superb and this is a unique, one-of-a-kind "app". I call it an app as it assists you in guiding which indicators have some hope and which are just rubbish by quickly analyzing the buffers of the indicators.

I certainly have a love-hate relationship with it, as it exposes the indicators which I thought are profitable in the long run, but fail miserably. I could have bet my life on some indicators, but this app clearly trashed most of them. I am starting to realize that indicators are not my way forward in trading...

I literally tested 3000+ indicators over the last couple months. Most can be trashed immediately within a few seconds by inserting the buffers. Others seem extremely profitable, but then test them through Strategy Tester, just to realize they either repaint or back-paint, even subtly by changing color, arrow or angle within one candle. When this info is then fed to the app by shifting the confirmation to 2 bars i.l.o 1 bar - crash, boom, bang, kaputt. It will need some reading and studying the manual in DETAIL to be able to identify which capture modes to use, but you will get there, believe me I am not overly bright and my mind melts when I have to program anything even remotely simple, but the logic of this piece of software is fantastic, once you get the hang of it - no programming required, you just pick the appropriate capture options and set your TP, SL levels. Also appropriate time frame consideration is very important with different TP/SL for each TF.

Remember there are many options for Stop Loss and Take Profit. Some indys like quick TP without waiting for opposite signals, others need opposite signals to be profitable. Scaling in on some are also good instead of a blind TP level. Combinations of both scaling in and exit/reverse on opposite signals are also possible. Stop Loss levels for each pair is also sensitive due to the pair's volatility, play around.

If you are an indicator addict like me, it will save you thousands. I spend more on indicators than on my trading balance in the hope to find that one gem - AND THIS IS THAT VERY GEM. If you insert this indicator in strategy tester, then demo a market indicator within it without buying it, you can very quickly make up your mind. Test the top 20 indicators in demo here on MQL5, you will be shocked. Bear in mind, multi time frame indicators will not work properly in Strategy Tester, with or without Indicator Merge. Refer to the sellers of these indys and they may have a free "lite" version or limited demo version for you to test.

Just a final tip: Even if you found a indy or a combination of Indicators that look good, even after testing them in Strategy Tester and you found them not re- or backpaint - Try them yet again in Strategy Tester together with Indicator Merge to give you current stats. Many, many indicators appear not to repaint, but small changes are sometimes not noticed unless they run bar by bar.

I am a rehabilitated compulsive gambler, this software is helping me turn into a rehabilitated compulsive indicator user at a price that is low for its effectiveness. I have currently only a handful of indys (most of them are free!) which may be useful as confirmation, still optimizing them to make a final decision.

The grey matter with vast voids between our ears seems to be the greatest expert advisor of all.

Additional edit: Where this app shines with Indicators is what Strategy Tester does for Expert Advisors. With Strategy Tester you can optimise the parameters of your EA to review which settings are the most profitable. This is not possible with Indicators as they do not have actual trade signals for Strategy Tester to invoke trade stats. With Indicator Combine you can enter the parameter settings of your indicator and see what impact it has on the profit/loss e.g. calc lookback parameter default of an indicator is 13, but what happens if you set it at 9 or 5 or 15? These stats are updated instantly without running it through Strategy Tester. Just remember if it does re-/backpaint it would be wise to run (no pun intended) again through Strategy Tester with Indicator Merge running concurrently.

I actually now test EVERY indicator through Strategy Tester with IC, it is mind blowing how many programmers manipulate the signals to show great signals in the past, just to realise when running them live, the signals are not even close to what they indicated in history. There are very few exceptions..

nicetees
64
nicetees 2018.08.23 14:26 
 

This indicator is the best investment I have made so far! I accidentally stumbled on it while searching for a MT4 programmer to combine some indicators into one, and this is far better. Excellent value and customer service! I am very pleased with my purchase.

sunnychow
7263
sunnychow 2018.08.08 17:40 
 

I am still study to understand the signal , edit the indicator, I will update my review later

Ambrogio Corvinus
862
Ambrogio Corvinus 2018.03.22 02:33 
 

This indicator is the single best investment I made. It is a game changer for me. The support is fantastic as well!

Mujeeb Abdul
1507
Mujeeb Abdul 2017.11.14 08:22 
 

Excellent indicator good support

Marcel Wagner
398
Marcel Wagner 2017.09.12 14:49 
 

This is the most useful Tool i`ve ever purchased/tested on the MQL5 Market for sure, i created a reliable Signal with it and use it with the Strategy Automator also from RunwiseFX, it already payed off. Nothing more to say.

appropiate
1700
appropiate 2017.08.29 00:04 
 

Another magnificent tool from RunwiseFX! Able to analyze at a glance profitability, win/loss ratio and drawdown of strategies based on indicators/indicator combinations, SL, TP levels, trading hours and many other configurations, for all opened charts with different pairs/timeframes. All the statistics are summarized in one table for easy comparison. Huge time saver for backtesting and choosing best pair to trade. The Indicator Combine + Strategy Automator (their other excellent EA) will allow to analyze indicator-based strategies, choose the best strategy/configuration and convert it into an EA that can trade for you automatically. Functionality and configurability at its best. And customer support is beyond outstanding. I usually receive several emails per day, even on weekends. They are also open to modifying their tools upon reasonable/constructive feedback. Thanks a million Mark/RunwiseFX team!

Peter
1111
Peter 2017.07.25 12:27 
 

Fantastic indicator and works as promised. I'm never disappointed with products from RunwiseFX and the support is great.

Thanks Mark!

Alexander Dubenskiy
417
Alexander Dubenskiy 2017.07.22 02:46 
 

I've been using this indicator for about I'd say 1 month if memory not deceiving me if not longer.

runwisefx products in general are products I use the most on mt4 platform. Overwhelming majority of indicators in my library being used with Indicator Combine or multiple indicator matrix. Various capture modes available and ability for the product to work with custom/third party proprietary stuff puts indicator combine in a whoooole new league in comparison to other utility products in a market.

As mentioned in automator review, indicator combine and automator especially reminds me of a product on ninjatrader side known as shark indicators bloodhound.

I'd say runwisefx producs similarly to tick data suite elevating capabilities of mt4 platform to a whole new level and substantially increasing mt4 potency . Taking different indicators "vanilla" and proprietary and morphing/combining them in variety of ways is absolutely supreme!!!

Let say you have 5 of your favorite indicators. cci, rsi, proprietary1, proprietary2, proprietary3 and let say you have a chart where you check for harmonic patterns or gann or astro, or eliott cycles or some similar way of generating a setup for a trade and using these 5 indicators as a trigger (an example).

Instead of having 5 indicators taking precious space on a chart you can merge them into 1 indicator which takes tiny space on a chart however provides highly compressed, *logistically dense*, valuable information on a chart which is combination of these 5 indicators.

After realizing the idea behind a product and what runwisefix did, pulled the plug on a purchase with "my eyes closed".

Also overall i believe prices on runwisefx products are complete bargain which just reinforces my belief people have to do the homework on mt4 market products very very carefully as indicators/eas most certainly not created equally and you may have 150$ product packing waaay more capabilities than let say 5000$ product etc.

Not saying runwisefix should increase the price haha however I.. I could see purchasing combine/matrix/automator product even if they costed 500$. The amount of brain power behind them is simply astounding.

3 flagship runwisefx products in my book unequivocally #1 utility products for mt4. If you use mt4, have tons of indicators and tons of eas it is my sincere belief you must have indicator combine, indicator matrix and if you would like to take trades off these automator.

Also would like to compliment runwisefx support. At the moment runwise pretty much focused on 3 main heavy hitter products. Matrix/combine and automator. Majority of support and improvement efforts focused on these 3 offers. Benefits are runwise business model is instead of spreading intellectual efforts on let say creating 20 different products with a twist they pretty much have only 3 flagship products hence more time for enhancements and supporting customers.

Support is top notch!

Do not think I or anyone else part of runwisefx cusomter base should expect a reply on weekends however few times Mark and runwisefx team replied to me on a weekends which pretty much blew my mind as I did not expected it at all.

Runwisefx is most certainly on the ball when it comes to supporting their flagship products and i have nothing but great things to mention and have nothing to complain about.

Fairly certain after 1 month (or may be longer) I'll be actively using combine/matrix and automator products for as long as mt4 is alive and supported.

Thank you runwisefx!! ^^

With best regards. Alex.

Yvonne
669
Yvonne 2017.05.12 18:47 
 

This is a great tool to have if you want to get instant statistics on changes to your strategy. The stats update in real time so you can see, for example, what effect changing from a fixed stop loss to an ATR based stop loss would have on your profit. It can be as simple or as complex as you want to make it. You can use it with custom indicators and the support is excellent. Good for both newbies and pros alike.

Version 5.1 2019.08.18
- Added support for looking at value achieved on CrossBuySell capture. Set Mid Point to value needs to be over.
Version 5.0 2019.08.10
- Added new capture mode OnCross for when indicator crosses certain value
Version 4.9 2019.01.12
- Added support for setting properties of the Heiken Ashi Smoothed Alert indicator
Version 4.8 2019.01.03
- Fixed issue with 'YesAndAtStart' mode where wouldn't work properly under certain circumstances
Version 4.7 2019.01.02
- Added work-around for when timer cannot be allocated due to MetaTrader being low on resources
Version 4.5 2018.12.10
- Fixed divide by zero error that could happen under certain circumstances

- Improved support for Price Action Real Power indicator, so that visualization could be turned off via inputs
Version 4.4 2018.10.21
- Added support for moving average crossing high and low moving average
Version 4.3 2018.09.29
- Added input Indi_checkErrorReturnFromICustom which can be set to true if you get an alert "can't find/initialise custom indicator...", but is actually fine. This can happen with certain indicators that are slow to initialise.
Version 4.2 2018.06.26
- Added compatibility with Awesome Oscillator indicator
Version 4.1 2018.06.18
- Fixed issue where excessive message logging in the Experts log could happen if using stop loss calculation method Custom Indicator
Version 4.0 2018.06.05
- Fixed issue where configuration could not be set on a per symbol/period basis

- Improved compatibility with indicators that draw colored objects on the chart, where the color represents the buy/sell indication
Version 3.4 2018.04.18
- Added support for indicators that use object colors to signify buy/sell.
Version 3.3 2018.03.27
- Improved compatibility with Tipu MACD indicator and MACD cross
Version 3.2 2018.02.27
- Improved support for indicator TFX_Directriz
Version 3.1 2017.12.25
- Fixed issue with Bollinger Band reversal not working
Version 3.0 2017.11.20
- Added support for indicators that display trend lines

- Added support for indicators that work on currencies rather than currency pairs

- Added support for indicators crossing other indicators
Version 2.9 2017.10.05
- Fixed bug when calculating combined indicator value when 'Essential for Trade' option set to 'Yes And At Start' for the sell direction
Version 2.8 2017.09.28
- Fixed issue with double alert/notification occurring under certain circumstances
Version 2.7 2017.09.19
- Fixed accuracy of statistics calculation with regard to spread when using Strategy Tester
Version 2.6 2017.09.13
- Fixed take profit calculation when using Median Renko charts
Version 2.5 2017.08.30
- Improved accuracy of shown statistics when using Median Renko charts
Version 2.4 2017.08.23
- Added support for indicators that display arrow objects on the chart
Version 2.3 2017.08.01
- Improved support for Price Action Strength Indicator custom indicator
Version 2.2 2017.06.21
- Added ability to handle price crossing indicator value

- Added ability to specify increment/decrement amount
Version 2.1 2017.05.15
- Fixed possible divide by zero error when Default Alert in General Settings is set to 'auto on win ratio' and there have been no trades found
Version 2.0 2017.05.05
- Added DeMarker and MFI as built-in indicators that can be added to the combination

- Added ability to include indicator where value is below set value
Version 1.8 2017.04.19
- Fixed issue setting Default Alert to confirmed in General Settings pop-up

- Fixed issue capturing different periods when interested in live candle value
Version 1.6 2017.04.04
- Fixed processing of indicators showing a point/arrow at the beginning of a move/trend

- Added "Delete All" button in the indicator setup window (confirmation will be required)

- Better convenience in the demo mode when run in the strategy tester

- Better profit value formatting - now profit is displayed with M or K where needed

- The default value of Main_statsBarsToCalcBack was changed to avoid hanging of charts with a large number of bars

- Added Stochastic

- Added support for over bought and over sold indicators