• Overview
  • Reviews
  • Comments (1)
  • What's new

Magic Bar Qualifier MT5

The indicator consists of two components. Ninth Bar is the first one and it is a prerequisite for the Thirteenth Bar - the second component.

Ninth Bar Signal

The indicator compares the current close with the corresponding close four bars earlier. There must be nine consecutive closes higher/lower than the close four bars earlier.

  1. Ninth Bar Buy (Sell inverse)
  • Prerequisite is a bearish price flip, which indicates a switch from positive to negative momentum.
  • After a bearish price flip, there must be nine consecutive closes, each one less than the corresponding close four bars earlier.
  • Cancellation - If at any point a bar closes higher than the close four bars earlier then it is canceled and we are waiting for another price flip
  • Excellence - the low of bars eight or nine should be lower than the low of bar six and bar seven (if not satisfied expect new low/retest of the low).


Thirteenth Bar Signal

After a ninth bar signal is given counting for thirteenth bar can begin from bar nine.

Thirteenth Bar compares the current close with the low/high two bars earlier and you count thirteen bars. Unlike the ninth bar signals, If it is interrupted you just do not count the bars and when it resumes you continue counting further.

  1. Thirteenth Bar Buy Signal (Sell Inverse)

Starts after the Ninth Bar signal. The close of bar nine should be less than the low two bars earlier. If satisfied bar nine becomes bar 1 of Thirteenth Bar signal. If the condition is not met than bar 1 is postponed until the conditions is satisfied and you continue to count until there are a total of thirteen closes, each one less than, or equal to, the low two bars earlier.

  • Thirteenth bar qualifier
    • The low of bar thirteen must be less than, or equal to, the close of bar eight.
  • Cancellation
    • A sell ninth bar signal appears. The price has rallied in the opposite direction and the market dynamic has changed.
    • Close above the highest high for the current thirteenth bar buy.
    • Recycle occurs (new Setting in the same direction and recycle activated)

Aggressive Thirteenth - the difference is the Thirteenth bar signal phase. You compare high/low (not the close ) with the high/low two price bars earlier.

Aggressive feature always produces buy and sell signals before normal does.


Indicator Parameters

  • Start Analysis This Many Bars Back - Start Bar
  • Ninth Bar Buy Object Shift - Arrange object shift of signal on chart
  • Thirteenth Bar Buy Object Shift - Arrange object shift of signal on chart
  • Ninth Bar Sell Object Shift - Arrange object shift of signal on chart
  • Thirteenth Bar Sell Object Shift - Arrange object shift of signal on chart
  • Font Size - Font Size
  • Show Ninth Bar Signal Counts - Show count numbers
  • Color for Ninth Bar Buy - Ninth Bar Buy Color
  • Color for Ninth Bar Sell - Ninth Bar Sell Color
  • Remove Cancelled Ninth Bar Numbers - Remove Cancelled Ninth Bar Numbers
  • Trend Line - Show Trend Line
  • Extend 2nd Most Recent Trend Line Level - Extend 2nd Most Recent Trend Line Level
  • Include Look Back Bars - Include Look Back Bars
  • Show Thirteenth Bar Signal Counts - Show Thirteenth Bar signals
  • Aggressive Thirteenth Bars - Aggressive Thirteenth Bar
  • Color for Thirteenth Bar Buy - Thirteenth Bar Buy Color
  • Color for Thirteenth Bar Sell - Thirteenth Bar Sell Color
  • Remove Cancelled Thirteenth Bar Counts - Remove Cancelled Thirteenth Bar Counts
  • Remove Recycled Thirteenth Bar Counts - Remove Recycled Thirteenth Bar Counts
  • Visual Alert When Ninth Bar Completes - Alert Ninth Bar Completes
  • Sound for Ninth Bar Alert - Alert Ninth Bar Sound
  • Email When Ninth Bar Completes - Email Ninth Bar Completes
  • Text When Ninth Bar Completes - Notify Ninth Bar Completes
  • Visual Alert When Thirteenth Bar Completes - Alert Thirteenth Bar Completes
  • Sound for Thirteenth Bar Alert - Alert Thirteenth Bar Sound
  • Email When Thirteenth Bar Completes - Email when Thirteenth Bar Completes
  • Text When Thirteenth Bar Completes - Notify when Thirteenth Bar Completes
  • Visual Alert When Price Hits Trend Line - Visual Alert When Price Hits Trend Line
  • Sound for Trend Line Alert - Sound for Trend Line Alert
  • Email When Price Hits Trend Line - Email When Price Hits Trend Line
  • Text When Price Hits Trend Line - Text When Price Hits Trend Line
No reviews
Version 1.3 2018.07.09
Wording of indicator messages have been modified.
Version 1.1 2018.05.24
Only descriptions of input parameters have been changed.