Market / MetaTrader 4 / Experts /

THeMindTheLinesAlert

FREE

Published: 24 July 2018

Current version: 1.3

THeMindTheLinesAlert

Experts
Torsten Hempel
Torsten Hempel
Germany

2991
3.8 (7)
8 products 1 signal
Version: 1.3

This EA keeps an eye on drawn lines and alerts according specification.

It is a semi-automatic robot, which does NOT draw or change any lines.

A user can draw them manually or use tools like Trendline-Architect or Channel-Architect, which draw lines automatically.

Objects of type OBJ_TREND, OBJ_CHANNEL, OBJ_TRENDBYANGLE, OBJ_REGRESSION, OBJ_STDDEVCHANNEL and OBJ_FIBOCHANNEL will be detected - others will be ignored. The lines or channels have to have valid coordinates and rayed to the right, otherwise the value will be zero. Although channel objects are usually composed of two or more lines, this EA recognizes only the mainline (the one with two basepoints).

There are two line types:

SUPPORT: most of the prices are above this line
RESISTANCE: most of the prices are below this line

The line type and the trade direction of a recognized line can be determined automatically or can be set manually.

Around recognized lines, there will be a zone called ActionArea. The nearest ActionAreas to the current price for long and short trades are shown on the chart. If the current price is in this zone, an alarm will be triggered and the triggered trade direction will be deselected for this line.

Parameters

Do Automatic LineType-Detection is true to automatically detect the line type (SUPPORT or RESISTANCE)

If false, the line type is set to NONE by default. Changes apply only to new lines or the first time the EA is activated on a chart.

A user can change the line type for each line by clicking the button.

The button displays the current line type and is green when in automatic mode.

ATR-period defines the period of the ATR calculation. The area and distance around the lines where some action happens is measured in ATR. The ATR timeframe is the same as in the chart.
min. ATR-distance for LineType-Detection is the minimal distance to a line to auto-detect the line type (SUPPORT or RESISTANCE).
max./min. ATR-distance for ActionArea

If the mean value of both values is positive, the action happens before the line is broken.
If the mean value of both values is negative, the action happens after the line is broken.

color ActionArea long/short defines the color in the chart.

Easter egg: there is a simple intelligence included, which recognizes relevant highs and lows, and the EA will open trades after learning the relevance and if there is no drawn line to keep an eye on.

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This EA keeps an eye on drawn lines and opens orders according to a specification. Together with the included tool Trendline-Architect, which calculates and draws lines over the chart, it is a fully automatic EA. There are two types of trends: Trend A: the line is drawn using local lows for uptrends and local highs for downtrends Trend B: the line is drawn using local highs for uptrends and local lows for downtrends A few conditions have to be fulfilled. To understand and change the pa

50 USD

This utility calculates and draws lines over the chart. There are two types of channels: Channel A: the mainline is drawn using local lows for uptrends and local highs for downtrends Channel B: the mainline is drawn using local highs for uptrends and local lows for downtrends The parallel lines of both types are built using the max. fractal between the base points of the mainline. There are a few conditions, which have to be fullfilled and can be changed by the parameters (see also picture 3): t

30 USD

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2045

Lev Vladimirovic Marushkin 2018.12.21 17:04 #

Good idea. But without push alerts. Worthless. Who wants to sit all day long in front of the computer?

772

Alexey Suvorov 2018.07.24 23:44 #

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THeMindTheLinesAlert

Torsten Hempel

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