Conor Mcnamara / Profilo

stash of zigzags 😆

If anyone finds prev_calculated confusing (like I initially did) in MQL5, have a look at this blog post https://www.mql5.com/en/blogs/post/760917

Now have this idea rattling in my mind for a zigzag that forecasts the next leg. Also a grey color that the leg changes to when it's deemed that no valid forecast can be made (during a consolidation period for example)

Codice pubblicato Autoscaling Zigzag

the person who owns this house must have become successful with the zigzag indicator

If gold starts rallying now, it could be a great buying opportunity. It looks like a support is found on the H1 timeframe, but doji candles suggests indecision, and the trend is uncertain.

If it's hard to see the market sentiment, it's good to use these bears and bulls power indicators and color the histograms this way

If you have a trading system, and you know that the entries corresponding with the system are good, then a tight stop loss or a tight trailing stop is *not* a good idea. If the entries are good, then you should have at least a wide stop loss. Predictable stop losses are being hunted by institutional traders and hedge funds to force retail traders out.

It would be nice to see crypto rallying again, but now it's worrying as Bitcoin is testing the 200 day moving average on D1 timeframe

Today was very uneventful in Gold for new trades. It looked like a lot of profit-taking was going on as it's near the record highs and the weak US data has people concerned. I wasn't looking at the M5 timeframe, but it seemed like that's where the intraday trend was. It wasn't possible to hold anything

It's possible to protect your initial deposit with code..as live equity can be monitored, so when you compare the equity to balance, you can "save" your initial deposite from a disaster. It's very simple code

swing trades on the EA (visual backtest)

I recently launched a signal which is based on algo trading with zigzag. It is known that the zigzag isn't a signal indicator, it's mostly for swing analysis and wave theory, but it can be combined with quantitative indicators or fib retracement levels, or other drawings and filters to give signals. In the EA I built, I extended the algo so that it finds out when the leg stops moving. When this happens, it could mean a support or resistance is found, and a signal is produced on this event way before the opposite leg comes, therefore giving "timeliness" to the zigzag. I also introduced an MA into the core logic so that the MA filters the swings and aids the algo so that it will prevent premature swings. I don't know how successful this will be as a fully automated EA, so let's not expect miracles. Eventually I can make it available to download if it's not overly risky. I'm dedicated to building trading software which is profitable and not destructive.

dancin 😅

Codice pubblicato Intrabar Volume Flow

Post pubblicati Indicator calculation loops and the start index

John Ehlers is a technical analyst and engineer with a vast knowledge in digital signal processing. He understood the filters, and was able to build a cleaner, non-lagging moving average by borrowing formulas from Electrical Engineering. His formula involved giving a lower weight to older values and using a recursive calculation to make everything faster and more efficient. This is an illustration between a basic moving average and Ehlers three pole super smoother (both on period 18).

Codice pubblicato Portable Moving Average

The zigzag and donchian channel are examples of qualitative indicators as they rely fully on the price action to give you a result. This can change if you combine both worlds of mathematical trend indicators and qualitative indicators. I find that a smoothed moving average can be effective to prevent false signals from the zigzag and "pend" the swing so that you don't get a swing forming too early