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BeST Darvas Boxes MT5

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 : -  for selecting 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

·  Select the Entries Mode  -  for selecting the number of the consecutive displayed arrows of the same direction corresponding to possible additional same type positions (Long/Short). There are 2 options:

 

1.   Classic Reverse Mode - for selecting the Classic Mode of displaying Arrows  that was also used in all the previous versions.

2.   2_Additional_Entries_Mode – for selecting to be displayed  1 or 2 possible additional Arrows (but of different type) corresponding to possible additional same type positons (Long/Short).

 

·  Show Comments or Not  -  for selecting to  Show or Not  a  Real  Time  Updated  Information  Table      (as Comments) in the upper left corner of the Chart, including the following: 

         -  The Current Position Type: Long / Short

                 -   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: Selecting the 2_Additional_Entries_Mode the Real Time Updated Information Table will be much bigger  and will display the Entry Price and Open Profit  for every Open Position (up to 3 in total possible  open positions of the same type) as well as the total Open Profit  (Sum Open Profit) of all currently open positions in pips.

 

·  Show Entry Price Level or Not?  -  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 Classic Darvas Boxes Strategy.

·  Select the color for the Buy Price Line

·  Select the color for the Sell Price Line

 

Arrows Settings


·  Select to Show or Not Arrows  -  for selecting to show 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 - for selecting  how far from the Darvas Boxes the Buy and Sell Arrows will be drawn.


Alert Settings


·   Enable Buy & Sell Signals' Alert – for selecting to use or not a sound and message Alert for every Arrow (i.e. Buy or Sell Signal).

For EA Developers


·  Top of a Box :             Buffer = 1

·  Bottom of a Box :        Buffer = 2

·  Buy Arrow_1 :              Buffer = 3

·  Sell Arrow_1 :              Buffer = 4

·  Buy Arrow_2 :              Buffer = 5   

·  Sell Arrow_2 :              Buffer = 6  

·  Sell Arrow_3 :              Buffer = 7   

·  Sell Arrow_3 :              Buffer = 8  


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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Версия 1.55 2019.02.06

1. In this new updated version v_1.55 of BeST_Darvas Boxes Indicator there has been added the selection ability of 2 more types of Alert. So at the area of Alert Settings now we have the options:

· Enable Buy & Sell Signals' MT5 Alert – for selecting to get a Sound Alert at the MT5 Platform.
· Enable Buy & Sell Signals' Email Alert – for selecting to get an Alert by an email message.
· Enable Buy & Sell Signals' Push Notification – for selecting to get an Alert by a mobile message.

2. In this new updated version v_1.55 of BeST_Darvas Boxes Indicator also it comes out in a more correct way the Open Profit in pips for Gold (XAUUSD) and Silver (XAGUSD) although often this also depends on how prices are displayed on the platform.
Версия 1.50 2019.02.03
In this new updated version v_1.50 of BeST_Darvas Boxes Indicator there has been added the important selection ability of Entries Mode i.e. actually the ability to select the number of the consecutive displayed arrows of the same direction corresponding to possible additional positions of the same type (Long/Short). So the added Input is

· Select the Entries Mode

1. Classic Reverse Mode - for selecting the Classic Mode of displaying Arrows (Entry Signals) that was also used in all the previous versions.
2. 2_Additional_Entries_Mode – for selecting to be displayed 1 or 2 possible additional Arrows (but of different type) corresponding to possible additional positons of the same type (Long/Short).

It also important that in both input choises we can also select to be displayed as a Comment the Real Time Updated Information Table that shows:
· Current Position type
· number of Bars in Trade
· Entry Price for current position
· Open Profit in pips

Selecting the 2_Additional_Entries_Mode the Real Time Updated Information Table will be much bigger and will display the Entry Price and Open Profit for every Open Position (up to 3 in total possible open positions of the same type) as well as the total Open Profit (Sum Open Profit) of all currently open positions in pips.
Версия 1.40 2018.12.28
Fixing a bug about the Signals' Arrows.
Версия 1.30 2018.12.27
1.Adding Inputs for selecting the color of the Buy or Sell Price Line.
2.Adding Input for selecting to receive or not an Alert on the MT5 platform when an Buy or Sell Entry Signal appear