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Choppy Market Index indicator

199 USD

Demo downloaded: 948

Published: 4 March 2014

Current version: 1.3

Choppy Market Index indicator

Indicators
Artur Zas
Version: 1.3
Updated: 11 July 2021
Activations: 5

CMI - Profit from trending and ranging markets.

The CMI indicator is a two-part system used to trigger both trend and counter-trend trades, that has been introduced by Daniel Fernandez in an article published in Currency Trading Magazine (August 2011 issue). It is a simple, yet effective indicator, which gauges whether the market has behaved in a choppy (non-directional) manner or trending (directional) manner. CMI calculates the difference between the most recent bar's close and the close n bars ago and then divides this value by the difference between the highest high and lowest low over these n bars.

The system is composed of two separate sets of rules for both the ranging and trending markets (the CMI indicator is configured for these two rules by default settings).

Default settings give the best result on the 1H timeframe. Buy & Sell signals are provided as green and red arrows on the indicator's plot.

Range strategy rules

Enter long when the smoothing MA (blue line) of the CMI is below 40 and the CMI line color is red.
Enter short when the smoothing MA (blue line) of the CMI is below 40 and the CMI line color is green.
Exit trades when CMI moves above 50.

Trend strategy rules

Enter long when the smoothing MA (blue line) is above 60 and the CMI line color is green.
Enter short when the smoothing MA (blue line) is above 60 and the CMI line color is red.
Exit trades when CMI moves below 50.

The approach has been tested in an article published in Currency Trading Magazine using data ranging from 1999 to 2010 on two currency pairs (AUDUSD and NZDUSD). There were only three losing years in the tested period, but two of them were smaller than -1 percent. Therefore, the system suggests it is possible, given realistic expectations, to create strategies using a core concept that can tackle both trending and ranging conditions. The published result can be seen in the last two screenshots.

Indicator parameters

Period - the number of candles that are used for calculation of the CMI value
MA period - the period of the moving average (blue line)
Display alerts in Alert Window - Buy and Sell signals are displayed in the alert window
Send alerts via e-mail - Buy and Sell signals are sent to e-mail via MT4 platform
Send alerts via push notifications - Buy and Sell signals are sent to the smartphone via MT4 platform's push notifications

Indicator buffers

buffer 0 - CMI line
buffer 1 - CMI line is green (positive)
buffer 2 - CMI line is red (negative)
buffer 3 - Signal MA
buffer 4 - Buy signal
buffer 5 - Sell signal
buffer 6 - Trending market indication

more...

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Ultimate Renko is a full implementation of a robust Renko style charting solution for MT4. It enables creating custom live charts resembling Median Renko , Mean Renko , Turbo Renko , and Better Renko candles as well as Vanilla Renko and Renko with wicks , PointO charts, and many more. This all-in-one package provides all of the signals needed by day traders, scalpers, and even long-term traders. You can apply all of the standard and custom indicators and technical studies as well as templates to

45 USD

A countdown timer for the Volume bar chart generator and Tick chart generator products, which are available for download from the MQL5 Market: Tick chart generator: https://www.mql5.com/en/market/product/29215 Volume bar chart generator: https://www.mql5.com/en/market/product/47197 The counter conveniently displays the number of ticks or transactions (depending on the chart) that need to pass for a new bar to start printing. The user can set the following indicator inputs. Volume type

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The robust charting solution enables creating custom live range bar charts on the MetaTrader 4 trading platform. You can apply all of the standard and custom indicators and technical studies directly to the range bar charts and you can run EAs directly on these charts as well* (for details see text below the input summary). To create a range bar chart you need to attach the Range Bar indicator to a standard time frame (1 minute is recommended) and use the indicator's settings to generate a live

45 USD

The extreme volume indicator helps identify turning points in the market by pinpointing spots of higher than average volume. Such points usually indicate the start of a trend or a turning point in the market. The indicator averages out volume readings over an extended period of time and calculates a volume threshold level. When this level is breached, it identifies the most likely trend direction using the trend of the candle that breached the volume threshold. The direction indicator (red or gr

10 USD

The trend scalper candles are used to identify short-term trends based on the readings of the MACD, RSI and ATR indicators. All indicator calculations are visualized by candle colors which are overlapped on the chart. The indicator uses gray , green and red colors to paint individual candles, which gives you a lot of useful and easy to read information. Gray candles Gray candles indicate a range bound period and the information can be used to trade breakouts. Simply mark the high and low of th

30 USD

The professional line break chart generator is used to create live line break charts (i.e. 3 line break ). The chart is plotted using MT4's offline charging facility thus making it possible to trade* directly from the chart as well as attach any of the standard or custom indicators to perform technical analysis. The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart . Wicks can be displayed or hidden on the chart - t

45 USD

Range Bars for MetaTrader 5 is a unique tool for conducting technical analysis directly on the charts, as the indicator is an overlay on the main chart and range bars are calculated using real tick data. The trader can place and modify orders directly on the range bar chart (even with the use of one-click trading). Apart from range candles, the indicator also includes the most commonly used technical studies which are 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weight

45 USD

A professional line break chart which is displayed directly in the chart window thus making it possible to trade directly from the MetaTrader 5 charts. The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart . Wicks can be displayed or hidden on the chart - they give a lot of additional information regarding the underlying price action. The indicator's settings include: Line break number - determines the number of lin

45 USD

Robust trading panel for use on any symbol (including RangeBars or Renko custom symbols). The tool can be placed anywhere on the chart and offers the following array of features: One-click instant order entry. Pending order entry using horizontal lines on the chart Pending order entry using keys in Entry price (E/P) and optional Stop Loss (S/L) and/or Take Profit (T/P) A choice between fixed trading volume or risk-based volume calculation based on the available account equity, entry price, and t

30 USD

Create and trade timeframes in seconds. The bar time duration is freely adjustable from 1 second and up. The chart is accurately constructed using real ticks from the broker's server. Main characteristics The indicator is an overlay on the main chart, making it possible to utilize one-click trading and on-chart order manipulation. History calculated using real tick data. Built-in technical studies: 4 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick or rea

45 USD

The Trade Tracker Library is used to automatically detect and display trade levels on custom charts. It is an especially useful add-on for EAs that trade on custom charts in MT5. With the use of this library, the EA users can see trades as they are placed via the EA (Entry, SL & TP levels) in real-time. The header file and two examples of EA skeleton files are attached in the comments section (first comment). The library will automatically detect the tradable symbol for the following custom

30 USD

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Zentrader2015 2018.05.29 11:17 #

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cvdestyfx 2018.03.28 20:28 #

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Reply from developer Artur Zas 2021.07.12 11:04 #

Thank you for your feedback. The "lag" of the indicator can be tweaked using the inputs. The defaults work best on 1H (forex pairs) and 15min for indices such as the DAX.

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Yvonne 2017.06.15 11:35 #

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Version 1.3 2021.07.11

Updated Buy/Sell signal buffers for use with universal EAs

Version 1.2 2019.03.30

Code optimization,
Added alerts (Push notification, Email notification, Alert box notification),
Added "buy/sell" signal indication,
Added Trending market indication

Version 1.1 2016.05.25

Indicator parameters:

period - the number of candles that are used for calculation of the CMI value
MApriod - the period of the moving average (blue line)
usedOnOfflneCharts - turn on/off correct operation on offline charts such as tick charts, range bars, renko, median renko, etc.

Description quality and completeness
Reliability and usability
User support