HELLO GUYS,
I WOULD LIKE TO CONVERT THE EASY TRADINGVIEW "TRENDALERT" BY RSTRAAT TO A MT4 INDICATOR.
//@version=2
study("TrendAlert", overlay=false)
// Trend and direction determination Step 1 en Step 2 method conform ZoneRecovery from 4x-dat.com Joseph Nemeth
// https://www.youtube.com/watch?v=YxDAYtlQjBM
// step 1 LongTerm timefram/resolution (LT) determine general direction
//• color last Heikenahsi bar gives is the general direction
// step 2 MidTerm timeframe/resolution determine trend
//• color last Heikenahsi bar must match Direction step 1 and
//• slope of 20EMA in direction step 1 and
//• price relation to EMA20: above = up, below=down
// Step 1 AND step 2 => TrendAlert (-1 for Short, 1 for Long, 0 for No trend)
//Heiken Ashi Candles
data = heikenashi(tickerid)
resLT = input(title="Res LT", type=resolution, defval="D")
resMT = input(title="Res MT", type=resolution, defval="240")
LTo = security(data, resLT, open)
LTc = security(data, resLT, close)
MTo = security(data, resMT, open)
MTc = security(data, resMT, close)
LTlong = LTc > LTo
LTshort = LTc < LTo
MTema20 = ema(MTc,20)
MTema20delta= change(MTema20)
MTlong = MTc > MTo and MTc > MTema20 and MTema20delta > 0
MTshort = MTc < MTo and MTc < MTema20 and MTema20delta < 0
Long = MTlong and LTlong
Short = MTshort and LTshort
plot(Long ? 1 : Short ? -1: 0, title="TrendAlert", color= Long ? lime : Short ? red : gray, style=columns )
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