The Impulse Checker indicator is designed for informing about the price acceleration and determining the optimal entry points during an increased market volatility (for example, at the opening of the market or during the release of high-impact news).
The indicator utilizes the fundamental regularity of the market, which assumes that after an impulse of a certain size at a certain point appears, the price movement continues, which allows earning a large number of points.
Description of the indicator operation
During its operation, the indicator draws a price channel as a T1 rectangle with a width of T1sec seconds. This channel visually displays the size of the current Delta. If Mode2 is enabled, a second T2 rectangle is drawn on the chart, which displays the size of the previous price channel with a width of T2min minutes.
Delta - price movement over the last T1sec seconds. A price movement is measured as points from the current price to the point T1sec seconds ago.
The indicator draws entry points if the Delta exceeds all values included by the Modes:
- MinDelta (if Mode1 is enabled)
- HL * T2ratio (if Mode2 is enabled)
- DayVolAvg * T3ratio (if Mode3 is enabled)
All these values (including the value of Delta) are displayed in the information block at the top left corner of the screen in real time.
- Does not repaint/redraw
- Performs accurate calculations based on tick data
- Draws entry points
- Draws SL and TP levels
- Optimally suited for news trading and trading strong price movements
- T1sec – width of the T1 price channel, sec.
- T2min – width of the T2 price channel, min.
- T3day – the number of days to calculate the average daily volatility, days.
- Mode1 – in order to generate a signal, Delta must exceed MinDelta
- Mode2 – in order to generate a signal, Delta must exceed HL * T2ratio
- Mode3 – in order to generate a signal, Delta must exceed DayVolAvg * T3ratio
- MinDelta – the minimum number of points the price must pass for Mode1
- T2ratio – correction factor to HL for Mode2
- T3ratio – correction factor to DayVolAvg for Mode3
- SignalPeriodSec – the minimum frequency to inform about signals, sec.
- LogInExpertsTab – message about the signal in the Experts journal.
- Alert – message about the signal in a pop-up Alert box.
- SendEmail – message about the signal to email.
- PushNotification – message about the signal to mobile terminal.
- PlaySound – message about the signal by playing an audio file.
- WavFileName – name of the sound file for PlaySound.
- ColorT1sig – color of the T1 rectangle when a signal occurs.
- ColorT1 - color of the T1 rectangle when there are no signals.
- ColorT2 - color of the T2 rectangle when there are no signals.
- SignalPointWidth – size of the signal entry point.
- SLratio – multiplier to the Delta value to calculate the distance from the entry point to the StopLoss level.
- TPratio – multiplier to the Delta value to calculate the distance from the entry point to the TakeProfit level.
2. Now, during the process of plotting rectangles, the information about this is displayed on the screen
3. Fixed a couple of minor bugs