SUPER INDICATOR_Need help develop custom indicator!

[everyonerich]

need help to write custom indicator & people test this out!


Entry criteria.

- download & use template on MT4

1.) A/O indicator turned from positive to negative (CHART1.jpg)

- then check OHLC bar, on 2nd A\O negative bar.

- indicator required to identify which OHLC bar was at 2nd negative A\O bar.

then.. indicator checks the 'CLOSEd price' of the OHLC bar.
and add +100 pips above the closed price, and MARK a price above the ohlc bar. refer pic



2.) A/O indicator turned from negative to positive (CHART2.jpg)

- then check OHLC bar, on 2nd A\O positive bar.

- indicator required to identify which OHLC bar was at 2nd positive A\O bar

then.. indicator checks the 'CLOSEd price' of the OHLC bar.
and minus -100 pips below the closed price, and MARK a price below the ohlc bar. refer pic


3.) the rough backtest i have done, its pretty much accurate so far!

- refer chart_result.jpg

-because indicator has not developed, i only test 1 H chart, if we already have indicator we can try test it on lots of pair and see which pair works best. someone please help me develop this indicator?

 

[pedro01]

Looks like something that'd take me a couple of hours in Tradestation - is MT4 the only platform you use ?

 

[everyonerich]

Looks like something that'd take me a couple of hours in Tradestation - is MT4 the only platform you use ?

umm .. i dunno which fx broker have tradestation if thats the case. if possible can u please make it on both platform?

the chart_results.jpg so far is looking good, i need more backtest feedback from more people. :cheesy:

 

[pogle]

Try this.

It doesn't have the price label next to the indicator, but it should have everything else. I don't have time right now.
You can control how many bars you want to be positive or negative before triggering by changing the WhichBar parameter. You can also change the 100 pips distance.

Don't bet real money using this. Remember, it's only worth what you paid for it.

pogle

 

[everyonerich]

Why have you specified a hard variable in there (i.e. the '100 pips' parameter)?

honestly i dont know, but technically speaking its cushion for false market spike

 

[everyonerich]

Try this.

It doesn't have the price label next to the indicator, but it should have everything else. I don't have time right now.
You can control how many bars you want to be positive or negative before triggering by changing the WhichBar parameter. You can also change the 100 pips distance.

Don't bet real money using this. Remember, it's only worth what you paid for it.

pogle

thanks.. i'll test it. anybody else please also try it?