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BeST Darvas Boxes

BeST_Darvas Boxes is an MT5  Indicator based on the trading method developed in the 50’s by the Hungarian Nicolas Darvas.

BeST_Darvas Boxes indicator,

·  draws the Top and the Bottom of every Darvas Box  that can be confirmed on the current Chart.

·  draws Buy and Sell Arrows  for every confirmed Upwards or Downwards Breakout of the above levels.

·  draws always only after the bar closing and so is non-repainting.


Inputs


The Input parameters of the indicator are the following:


Basic Settings


 ·  Select LB Period: It is the number of Bars that we Look Back on the Chart searching for confirmed Darvas Boxes. It is easily understood that larger LB Periods define more stable trends and less fake breakouts.

·  Show Comments or Not  for selecting to Show or Not an information table (Comments) in the upper left corner of the Chart, including the following (updated in Real Time): 

The Current Position Type: Long / Short / Neutral

The Number of Bars for which we are In the current Open Trade.

The theoretical Entry Price in each trade, i.e. the Open Price of the next bar the Signal (Signal = Arrow).

The Open Profit (Profit / Loss) in pips for the current trade.

·  ShowEntryPrice  for selecting to Show or Not on the Chart an horizontal line representing the level of the theoretical Entry Price in each trade, i.e. the Open Price of the next bar after the Signal (Signal = Arrow) produced by the Darvas Boxes Strategy.


Arrows Settings


·  Select to Show or Not Arrows: You can select to see or not the Buy and Sell Arrows and so you can clearly work with the corresponding Trading Strategy.

·  Select the distance between Darvas Boxes and Arrows: You can select how far from the Darvas Boxes the Buy and Sell Arrows will be drawn.

·  Select the size of Arrows: You can select the size (width) of the Entry Arrows.


For EA Developers


·  Top of a Box:                          Buffer = 1

·  Bottom of a Box:                    Buffer = 2

·  Buy Arrow:                             Buffer = 3

·  Sell Arrow:                             Buffer = 4


Remarks


Nicolas Darvas was a pro dancer, self-taught investor and author. He is also widely known for his book, "How I Made $2,000,000 in the Stock Market", where he describes his "Box System", which he used to buy and sell stocks.

His trading method was also called "BOX theory", according to which he considered a stock price move as a series of boxes. When the stock price was within the limits of such a box, he just waited. He bought only when the price rose out of the box. At the same time he also set a stop-loss just under the bottom of the most recent box.

There are some default rules about the dimensions of a "Darvas Box", that is for when the top and bottom of a box are confirmed and make a clearly formed box (for further details you can see among many others, the e-book "Darvas Box Trading" by Frank Watkins).


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Version 1.20 2018.11.28
In version_1.20 the following feature is added:

The information table in the upper left corner of the Chart, now contains the following:
· The current position type: Long / Short / Neutral
· The number of bars for which we are in the current open trade
· The theoretical Entry Price in each trade, i.e. the Open Price of the next bar after the Signal (Signal = Arrow).
· The Open Profit (Profit / Loss) in pips for the current trade.

Note:
All of the above are updated in Real Time and, moreover, there is the option of displaying or not of:
Arrows, Horizontal Line of Trade Opening Price and Information Table (Comments).
Obviously in this way, if one wants it, he can have in Chart either just the simple indicator or additionally the corresponding strategy, which offers the possibility for discretionary-manual trading.
Version 1.10 2018.10.31
In version_1.10 the following features are added:

1. A horizontal line representing the level of the theoretical Entry Price in each trade,
i.e. the Open Price of the next bar after the Signal (Signal = Arrow).
2. An information table in the upper left corner of the Chart, including the following:
· The current position type: Long / Short / Neutral
· The number of bars for which we are in the current open trade
· The Open Profit (Profit / Loss) in pips for the current trade
3. The ability to adjust also the size of Arrows.

Note:
All of the above are updated in Real Time and, moreover, there is the option of displaying or not of:
Arrows, Horizontal Line of Trade Opening Price and Information Table (Comments).
Obviously in this way, if one wants it, he can have in Chart either just the simple indicator or additionaly the corresponding strategy, which offers the possibility for discretionary-manual trading.