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Custom Easy Trend Indicator

trend custom indicator

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26 replies to this topic

#1 zephyrus

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Posted 17 November 2016 - 06:30 AM

Hi all, since I'm not good on MT4 programming (I'm not a programmer at all), could someone help me on building a custom indicator (let's call it Easy Trend) for the 60 second strategy discussed in this thread? This indicator could be helpful for any strategies since it's an easy way to represent the main trend with a simple logic.

 

Below what we could need with some examples.

 

Output

 

We need an easy, minimal and a clean indicator like that one shown in top right angle of the pictures:

 

audusd_easy trend example.png  USDCHF_Easy Trend_Example.png

 

It's made by:

  • pair we are observing;
  • Triangle for trend direction;
  • % of the strenght of trend;
  • Text for explanation of the trend (SIDETREND, DOWNTREND, UPTREND);
  • indication of n of bars used for calculation. 

 

 

Input

  • n of bars to take in consideration in the current TimeFrame (minimum 3 bars, maximum 5000 bars)
  • Uptrend color
  • Super Uptrend color
  • Downtrend color
  • Super Downtrend color
  • Sidetrend color
  • Trendline color
  • Trendline drawing (true, false)
  • Position of the indicator in the main window (up or down left corner, up or down right corner)
  • Font size
  • Alarm for Super trend

Logic

 

Logic is described in the images below. Using the medium price of the candle n bars before the current candle and the current price, we can draw a line that defines the direction of our trend. 

 

input representation.png

 

 

The tangent of the angle generated by this new line and the zero line (the zero line is the parallel one created starting from the medium price of the candle n bars before the current candle) we also have the strength of the trend. High values of tangent are strong values for trend (UP or DOWN).

 

Translating the tangent values in % we can show both informations: direction and how much strong the trend is.

 

At the currenct candle closure the indicator should recalculate the trend using the new current candle and a new n bars before current candle. 

 

Here the logic used for the tangent identification and % conversion of tangent values:

 

trend conversion.png  trend conversion_2.png  trend conversion_3.png  trend conversion_4.png

 

 

Can anyone help me???

 

Thank you in advance!!


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#2 nnld218

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Posted 17 November 2016 - 07:05 AM

you also can post idea here :

https://www.forex-ts...s-ideas/page439

http://www.forexfact...310#post9261310


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#3 charli

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Posted 17 November 2016 - 07:15 AM

nnld218 you are right,i think Mladen,mrtool etc, are really good in this as well...

#4 zephyrus

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Posted 17 November 2016 - 08:16 AM

 

Done


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#5 Sanz50

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Posted 17 November 2016 - 10:33 AM

Mate you can do that with trend line indicator and Nitro indicator



#6 zephyrus

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Posted 17 November 2016 - 10:48 AM

Mate you can do that with trend line indicator and Nitro indicator

 

I tried Nitro indicator for a while but since it uses a lot of indicators inside, the result it's not so clear sometimes. Even if you change TF it shows different values.

 

In your opinion Sanz50, which TF should I use in NITRO settings to identify correclty the trend as in the pictures below?

 

NITRO example.png

 

Let me say it could be helpful identifying a value of trend (direction and strenght) for the last 3-4 hours in the 1 min TF. 



#7 zephyrus

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Posted 17 November 2016 - 11:17 AM

The big problem is that I cannot recognize the timing considered for trend identification. It's foundamental to be sure on timing used because it could change the way you are going to trade.

 

eurjpy_5nitro_3.png  eurjpy_5nitro_4.png

 

It's not so clear and it makes me doubtsful on the direction of trend. Sometimes I don't know if I am in a downtrend or in an uptrend....I always have to draw a line like in the pictures in the first post.

 

At this point why don't create an indicator that draws this line for me? I can even have information of the strenght.



#8 Mityu29

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Posted 17 November 2016 - 11:38 AM

Hi zephyrus, I am still newbie. Just a question. If you want to trade on 1 minute time frame, why do you want to know where the price is goes on 4H Tf and 1H Tf? I just learned from a succes forex trader, you do not need an indicator which shows number how the trend is strong on the actual time frame, you can even define a strenght of the trend manually easily just take few second or max 1-2 minute. I am just curious.



#9 zephyrus

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Posted 17 November 2016 - 11:47 AM

Hi zephyrus, I am still newbie. Just a question. If you want to trade on 1 minute time frame, why do you want to know where the price is goes on 4H Tf and 1H Tf? I just learned from a succes forex trader, you do not need an indicator which shows number how the trend is strong on the actual time frame, you can even define a strenght of the trend manually easily just take few second or max 1-2 minute. I am just curious.

 

Hi Mytiu29

 

The identification of an high trend (like 3-4 hours trend for example) it's useful to identify the direction of our trade in the lower TF.

 

If you base your 60 sec trade only looking at 15 min trend, for example, it could be dangerous because it could be only a main trend correction. So if I look at 15 min trend and it looks an UPTREND then I can imagine to base my 60 sec strategy on call options when "some conditions" are verified. But it could be wrong because maybe the 15 min uptrend could only be a correction of a 3-4 hour DOWNTREND....

 

In most of cases impulses following the main daily trend are stronger then corrections and if you want high probability of success you should operate during those impulses instead corrections.

 

Drawing everytime the 3-4 hours trend is time consuming even it it takes only 2 seconds (imagine to do that every 30 min for 9 pairs). I prefer to have an easy indicator that help me on this so I can focus my efforts on other stuff.



#10 zephyrus

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Posted 17 November 2016 - 12:22 PM

Guys, at moment there is a problem on the indicator building.

 

As Mladen suggested in another forum, there is not possibility to determine a value of an angle using time and price (it can be true since they don't use the same scale of measurement).

 

He suggests to make a conversion using ATR but he says it's not 100% accurate.

 

Now I'm wondering....is there another way to determine angle (and so tangent of it) in another way?

 

I considered time but I only used the number of bars that it's different. In this way we use an integer (10 bars, 100 bars, 300 bars) in the formula.

 

The doubt is about price.........it's not uniform between pairs because most of them use 5 digits after dot, other (mostly JPY) only 3 digits.

 

What happen if we homologate all pairs using 5 digits after dot? How can we uniform these 2 measurements?



#11 Sanz50

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Posted 17 November 2016 - 12:27 PM

I tried Nitro indicator for a while but since it uses a lot of indicators inside, the result it's not so clear sometimes. Even if you change TF it shows different values.

 

In your opinion Sanz50, which TF should I use in NITRO settings to identify correclty the trend as in the pictures below?

 

attachicon.gifNITRO example.png

 

Let me say it could be helpful identifying a value of trend (direction and strenght) for the last 3-4 hours in the 1 min TF. 

 

I can put diferents tf with less info Nitro is totally customizable. I attach example Nitro 1M, 5M, 15M

Attached Thumbnails

  • 15.png


#12 zephyrus

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Posted 17 November 2016 - 12:55 PM

I can put diferents tf with less info Nitro is totally customizable. I attach example Nitro 1M, 5M, 15M

Yes, I did the same as you can see in the previous picture.

 

But let's consider we are in 1 min TF....which TF would you consider in order to have a look at the trend in the last3 hours?

 

Try to identify the trend as I would like do to through the custom indicator., then choose the correct TM in NITRO indicato that could fit your need; use the same logic in other pair and look at the differences.

 

Let me know Sanz50



#13 wags

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Posted 17 November 2016 - 01:04 PM

Guys, at moment there is a problem on the indicator building.

 

As Mladen suggested in another forum, there is not possibility to determine a value of an angle using time and price (it can be true since they don't use the same scale of measurement).

 

He suggests to make a conversion using ATR but he says it's not 100% accurate.

 

Now I'm wondering....is there another way to determine angle (and so tangent of it) in another way?

 

I considered time but I only used the number of bars that it's different. In this way we use an integer (10 bars, 100 bars, 300 bars) in the formula.

 

The doubt is about price.........it's not uniform between pairs because most of them use 5 digits after dot, other (mostly JPY) only 3 digits.

 

What happen if we homologate all pairs using 5 digits after dot? How can we uniform these 2 measurements?

 

 

did you mention my suggestion on pip/point count for plus or minus from previous candle bars 50 , 100 150 etc etc ?


  • zephyrus likes this
Here is the MTF tools for charts below
 
Attached File  ACP Multi Pair.mq4   2.17KB   813 downloads
Attached File  ACP Arrow Change Pair.mq4   26.49KB   887 downloads
 
Please goto Lazy Larry post http://www.binaryopt...hread/?p=144478for a guide :)

 


#14 PaititiGold

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Posted 17 November 2016 - 01:12 PM

Guys, at moment there is a problem on the indicator building.
 
As Mladen suggested in another forum, there is not possibility to determine a value of an angle using time and price (it can be true since they don't use the same scale of measurement).
 
He suggests to make a conversion using ATR but he says it's not 100% accurate.
 
Now I'm wondering....is there another way to determine angle (and so tangent of it) in another way?
 
I considered time but I only used the number of bars that it's different. In this way we use an integer (10 bars, 100 bars, 300 bars) in the formula.
 
The doubt is about price.........it's not uniform between pairs because most of them use 5 digits after dot, other (mostly JPY) only 3 digits.
 
What happen if we homologate all pairs using 5 digits after dot? How can we uniform these 2 measurements?

State price as a percentage change from some starting point, say end of NY session
  • wags likes this

#15 Mityu29

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Posted 17 November 2016 - 01:16 PM

Hi Mytiu29

 

The identification of an high trend (like 3-4 hours trend for example) it's useful to identify the direction of our trade in the lower TF.

 

If you base your 60 sec trade only looking at 15 min trend, for example, it could be dangerous because it could be only a main trend correction. So if I look at 15 min trend and it looks an UPTREND then I can imagine to base my 60 sec strategy on call options when "some conditions" are verified. But it could be wrong because maybe the 15 min uptrend could only be a correction of a 3-4 hour DOWNTREND....

 

In most of cases impulses following the main daily trend are stronger then corrections and if you want high probability of success you should operate during those impulses instead corrections.

 

Drawing everytime the 3-4 hours trend is time consuming even it it takes only 2 seconds (imagine to do that every 30 min for 9 pairs). I prefer to have an easy indicator that help me on this so I can focus my efforts on other stuff.

I am not that pro to see 9 pairs every 30 min, It just too tiring for me. I understand your sample, 15 min could be a correction, but for eg. I trade based on a 1 min Tf  and 5 min expiry, for my trades I define a structure of the market only on 5 min timeframe (support resistance) and after that I define a trend, and look for high probability trades. I am trade on mt4, if would be a lover time frame, then I could make fine tuning. That is why I asked that about 1H and 4H trends, for eg. If somebody trading on 5 min time frame, the trader can defines the structure of the market on 30 min or 1H Tf and can makes a fine tuning on 1 min Tf. I know we are different, but If the trader knows simple ways to identify a trend why is not enough? :)



#16 zephyrus

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Posted 17 November 2016 - 02:25 PM

did you mention my suggestion on pip/point count for plus or minus from previous candle bars 50 , 100 150 etc etc ?

 

I thought on your suggestion wags, in fact I think it's a good  way.

 

In the first post (last picture) I made a conversion using only the numeric part after comme (or dot)....it means pips.

 

Do you think it could work?


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#17 zephyrus

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Posted 17 November 2016 - 02:36 PM

State price as a percentage change from some starting point, say end of NY session

 

What do you mean?



#18 zephyrus

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Posted 17 November 2016 - 02:47 PM

I am not that pro to see 9 pairs every 30 min, It just too tiring for me. I understand your sample, 15 min could be a correction, but for eg. I trade based on a 1 min Tf  and 5 min expiry, for my trades I define a structure of the market only on 5 min timeframe (support resistance) and after that I define a trend, and look for high probability trades. I am trade on mt4, if would be a lover time frame, then I could make fine tuning. That is why I asked that about 1H and 4H trends, for eg. If somebody trading on 5 min time frame, the trader can defines the structure of the market on 30 min or 1H Tf and can makes a fine tuning on 1 min Tf. I know we are different, but If the trader knows simple ways to identify a trend why is not enough? :)

 

In fact we are on the same way :)

 

If you define supports, resistences and identify the trade on 5min TF probably you will consider, let me say, at least 30 candles. 30 candles of 5 minutes are more or less 3 hours, i.e. 180 candles in the 1 minute TF. :)

 

We are only looking for some automatic trend drawing that could help us on timesaving and let us focusing on other signals.

 

Why should we use this kind of custom trend indicator instead of other douzins ones? Because it would fit on your needs.... Do you wanna see what the price is doing in the last 20 minutes (not taking care of dynamic trendline and other stuff), set 20 bars in the 1 minute TF or 4 bars in 5 minutes TF.....What's about 3 hours of trading? set 180 bars in 1 minute TF or 36 bars in 5 minutes TF.


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#19 wags

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Posted 17 November 2016 - 02:57 PM

I thought on your suggestion wags, in fact I think it's a good  way.

 

In the first post (last picture) I made a conversion using only the numeric part after comme (or dot)....it means pips.

 

Do you think it could work?

 

 

i dont know about coding but what worries me about the whole thing is if we set fixed bars of say 50, 100 and 150 for example every time a new candle opens we have totally different result so we could be judging on 3 bull candles to price candle and in the next candle change we could be judging against 3 bear candles

 

so how do we use this as percentages will be all over the place?

 

I think PG has a good idea with the close of NY etc theory this way it will be more consistant and better for a strategy

 

cheers wags


Here is the MTF tools for charts below
 
Attached File  ACP Multi Pair.mq4   2.17KB   813 downloads
Attached File  ACP Arrow Change Pair.mq4   26.49KB   887 downloads
 
Please goto Lazy Larry post http://www.binaryopt...hread/?p=144478for a guide :)

 


#20 zephyrus

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Posted 17 November 2016 - 06:18 PM

i dont know about coding but what worries me about the whole thing is if we set fixed bars of say 50, 100 and 150 for example every time a new candle opens we have totally different result so we could be judging on 3 bull candles to price candle and in the next candle change we could be judging against 3 bear candles

 

so how do we use this as percentages will be all over the place?

 

I think PG has a good idea with the close of NY etc theory this way it will be more consistant and better for a strategy

 

cheers wags

 

Remember, theorically it should be a medium trend so you should use a high number of bars (at least 180-200) and in this way things won't change so easy, it's more stable than using just few bars.

 

For sure I think that if you wanna trade at 8 am (GMT time) you should not consider last 3 hours for trend determination because the mouvements of prices are really short during asiatic markets. But with the possibility to set the n. of bars inside the indicator makes you free to adjust your strategy everytime. 







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