MT4 Momentum Indicator with ATR Filter

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Great developer. Good communicator, responsive and incredibly diligent. Solutions-focused and flexible. 5*s

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I’d like a new indicator producing that uses three instances of the same momentum indicator, to produce a valid buy or sell signal.

The indicator has five customisable settings and uses a histogram to display up or down momentum.

The basic signal is when three bars in the histogram line up the same colour.

There’s also a candle lookback rule which can be set.

Within this lookback there are additional settings that look for the max and min no of coloured blocks allowed, settings are thus:

   - Lookback count = X candles/bars

   - Max green blocks = Y (max no of green blocks allowed in X previous candles/bars)
   - Min green blocks = Y (min no of green blocks allowed in X previous candles/bars)

   - Max red blocks = Y (max no of red blocks allowed in X previous candles/bars)
   - Min red blocks = Y (min no of red blocks allowed in X previous candles/bars)

   - Max blank blocks = Y (max no of blanks, so no red or green blocks, allowed in X previous candles/bars)
   - Min blank blocks = Y (min no of blanks, so no red or green blocks, allowed in X previous candles/bars)

There’s also an additional filter required using an indicator that draws lines on the chart.

The buy or sell signal can be restricted if price is either above, below or in-between two different instances of this filter.

The additional filter has four settings.  

Both indicators will be provided on application.

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30+ USD
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from 1 to 2 gün