Market / MetaTrader 5 / Indicators /

LifetimeSaver

Demo downloaded: 95

Published: 29 April 2021

Current version: 1.5

LifetimeSaver

Indicators
Robert Hess
Version: 1.5
Updated: 9 July 2021
Activations: 5

Description

This addon is originated from my own trading. I spent my whole time waiting for signals and just wanted a notification

when a specific signal appears. So i started to wrote my own addon and called it "LifetimeSaver", because thats exactly what it is for me.

But because this addon should not only be for my personal trading, I extended the LifetimeSaver and now its highly customizable,

so that it can fit your needs.

Functions:

Notification at your defined target/signal
Notification options for Push, Mail and Alert messages
Softstop notification on close or high/low touch
2 Different calculation modes
3 Different point 2/3 break modes
3 notification zones
Also works for volume trading
Trendmonitoring
customizable for your needs

Calculation Mode

You have two different calculation modes you can choose from:

Candle-based: The Trendline (ZigZag) Profile is directly calculated via the Heikin-Ashi candles on the chart.
MACD-based: This is based on the MACD calculation and the resulting movements. I suggest that you let the EMA values as they are and only change the "shift" value.

Softstop

Maybe you know the situations where a market "Spike" hits your Stop Loss and the market then turns into your desired direction?

This is only one of many situations, where a softstop can help you.

To define a Softstop, simply create an object like a "Horizontal line" or "Trendline" and name it "softstop".

When the price will go above/below your softstop and closes (and only then!) the softstop will be triggered and you will get a notification.

These are the default values. Of couse you can change the values in the indicator properties.

Notification zone

With the notification zone value you can set your desired zone in which a notification can be triggered.

You have 3 possible modes:

Always
POC dependent: Price below (uptrend) or above (downtrend) the Point of Control
Only above VAH or below VAL: Price is above Value-Area High (downtrend) or below Value-Area Low (uptrend)

To see the Volume-Profile you can check out my "VolumeProfile" indicator at https://www.mql5.com/de/market/product/37391

Notification target

You can choose the specific signal, which triggers a notification within the notification zone.

You have 3 possible modes:

every Balance-candle: Notification at every Balance-candle in your defined notification zone
Balance-candle + Trend + Fibo-target: Notification at a balance-candle in a valid trend and a reached Fibo-target in your defined notification zone
Fibonacci-target + trend: Notification at the Fibonacci-target in a valid trend in your defined notification zone

Notifications in MT5

To get notifications you have to configure it in your MT5 Terminal.

Just navigate to "Extras" -> "Options" -> "Notifications" for Push notifications or "E-Mail" for E-Mail notifications and insert your personal settings.

Please note:

The indicator is designed for "Heikin-Ashi" candles. You can use this indicator on normal candles, too. But the calculation for the balance-candles

will always based on Heikin-Ashi candles.

Support

As i mentioned before, i use the LifetimeSaver addon for my own trading. So if you have a problem, i probably will have it, too :) Thats why this indicator will always be further optimized.

But if you found any bugs or need more feautures, feel free to contact me, so i can impove and extend the indicator for you.

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Version 1.5 2021.07.09

Bug Fix:
- fixed an issue where the first correction added several values to the correction/trend counter

Version 1.4 2021.07.07

New Features:
- Added the "Break Mode" Switch - here you can set which candle position will lead into a point 2 continuation or a point 3 break
-> "Open&Close": If the candle has a open and close above/below the point 2/3
-> "High/Low": If the candle has a high/low above/below the point 2/3
-> "Close": If the candle has a close above/below the point 2/3

Version 1.3 2021.07.06

- "Fake/False Breaks" are no longer a reason for a trend continuation anymore
- Default values for "History" (500->250) and "Sensitivity" (8->3) has been changed
- Improvement of trend calculation

New Functions:
- Added a trend counter (the actual correction counter will be shown above/below the correction)

Version 1.2 2021.05.27

New Feature:
- Fibonacci-Mode: Choose from "High/Low touch" or "Close" at your fibonacci target

Version 1.1 2021.05.03

Bugfix
- with recalculation enabled, the first correction after a trend break will now be calculated correctly