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indicator for trending and ranging 9 replies

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ToR 1.02 Indicator, Trending or Ranging

  • Post# 1
  • Quote
  • First Post: Jun 9, 2007 11:19pm | Edited Feb 16, 2008 8:39am
ToR 1.20

This indicator shows you whether a pair is trending or ranging.
For trending markets use moving averages and for ranging
market use oscillators.

It shows ADX values for multiple timeframes to help you
decide which trading technique to use.
Sometimes you'll see short-term trends against the H4
and D1 trend.

It's up to you whether you trade in a ranging market. It seems
to me that trading with the long-term trend is best.
Having said that, the reason why I made this indicator is to
to let the trader decide at a glance what to do, or even to
do nothing. Staying out of a market is a position too.

I may adjust the spacing between the objects, but it's useable
right now. If it messes up in use and displays garbage please
take a screenshot and post it on the forum then shoot me an
email, I will debug.

I've included two screenshots, one with a ranging example and
one with a strong trending example.

Green is up, Red is down, Blue is ranging. There are two arrows
for both up and down depending on the strength of the trend.
There is a 45 degree arrow up and down for beginning trend and
a 90 degree arrow up and down for strong trends. The squiggly
lines represent ranging.

Also, it seems to me that in ranging markets you'll get conflicting
info from ADX on different timeframes.

Version: 1.20
1.20 - added CCI to information presented
1.12 - changed spacing and timeframes
1.10 - added increase/decrease information, adjusted fonts
1.02 - added arrows, ranging icon, no zero space state
for icons/arrows, spacing got messed up, now
fixed
1.01 - unreleased, reduced number of colors, functional
1.0 - unreleased, too many colors for ADX values
Attached Image (click to enlarge)
Click to Enlarge Name: screen-usdchf-h1.gif Size: 45 KB
Attached Files
File Type: mq4 ToR_1.02.mq4   16 KB | 2,020 downloads
File Type: mq4 ToR_1.10.mq4   21 KB | 1,040 download | Uploaded Jan 22, 2008 7:05pm
File Type: mq4 ToR_1.12.mq4   21 KB | 1,147 download | Uploaded Feb 16, 2008 8:24am
File Type: mq4 ToR_1.20.mq4   33 KB | 3,062 downloads | Uploaded Feb 16, 2008 8:25am
File Type: mq4 CCI_Woodies_Lnx_v1_1_TFmod.mq4   9 KB | 1,957 download | Uploaded Feb 16, 2008 8:28am
Hi. This is a really good idea. Pardon the ignorance, but what is ADX?
ADX stands for average directional index. It's to measure the strength of a trend. It's derived from two other indicators DI- and DI+. DI stands for directional indicator.

You can open 5 charts of a currency pair, one each of 5 min, 15 min, 1 hr, 4hr and 1 day, then add ADX to those 5 charts and see where my data comes from.
Quoting nittany1
ToR 1.02

I wrote my first indicator!

This indicator shows you whether a pair is trending or ranging.
For trending markets use moving averages and for ranging
market use oscillators.

It shows ADX values for multiple timeframes to help you
decide which trading technique to use.
Sometimes you'll see short-term trends against the H4
and D1 trend.

It's up to you whether you trade in a ranging market. It seems
to me that trading with the long-term trend is best.
Having said that, the reason why I made this indicator is to
to let the trader decide at a glance what to do, or even to
do nothing. Staying out of a market is a position too.

I may adjust the spacing between the objects, but it's useable
right now. If it messes up in use and displays garbage please
take a screenshot and post it on the forum then shoot me an
email, I will debug.

I've included two screenshots, one with a ranging example and
one with a strong trending example.

Green is up, Red is down, Blue is ranging. There are two arrows
for both up and down depending on the strength of the trend.
There is a 45 degree arrow up and down for beginning trend and
a 90 degree arrow up and down for strong trends. The squiggly
lines represent ranging.

Also, it seems to me that in ranging markets you'll get conflicting
info from ADX on different timeframes.

Version: 1.02

1.02 - added arrows, ranging icon, no zero space state
for icons/arrows, spacing got messed up, now
fixed
1.01 - unreleased, reduced number of colors, functional
1.0 - unreleased, too many colors for ADX values
Thia looks marvelous. I just started using ADX and this'll be a big help. Thanks a lot.

Good trading to you,
Richard
looks pretty nice
Thanks for that. This is something I've actually been looking for!
I found the ADX indicator on MT, but where are the DI- and DI+ on MT? ...Or can't you use these independent of ADX?
That's a cool indicator
One question tho:

Is it possible to get the past data or does it only display most current market conditions?
There's one thing I'm working on right now is including data from DI- and DI+ in a new way. I'm also going to add more timeframes so it will probably become two rows of text. I'm glad you guys like it so far. Best of luck on all your trade!
Thanks nittany1
Your indicator looks very interesting, look forward to the update!

Have A Great Day
AW
Very helpful Nitany1.
Looking forward to the updates also.
Keep up the good work.

Cheers
SK
I Like it, it's usefull thank you, i hope you can make another usefull indi again
Quoting Desginer
I Like it, it's usefull thank you, i hope you can make another usefull indi again
I made a new updated version of ToR, this one includes different timeframes meant more for people trading 1 hour and less, and I've also added increasing and decreasing plain text data to tell you if that trend is getting stronger or weaker on that timeframe.

- nittany1
nittany1,
Thanks a lot for your effort.
Could you help add the H4, D1 and W1 timeframes for this indicator?
Rhythm, Motion, Emotion and Risk Reward.
I added two more versions, plus I added a download for my modified version of Woodie's CCI indicator that automatically adjusted the period according to the timeframe you are viewing. You can set the period for the entry and trend CCI in each timeframe or use the ones I have found to work pretty well.

- nittany1
i'm loving it! Good work nittany1..i hope this thread will be useful for newbies out there who want to find out when a market is ranging or trending.
Is there a way to create a sound/email alarm for this Indicator? A version where you set the Alarm value to whatever timeframe? It would so make this indicator the ultimate ADX Indicator.
Hi nittany1. Your indicator looks great. I've started using ADX and ToR indicator might help me. So I realy appreciate it.
But can you reveal how you trade this indicator? And also I'd like to ask how you use ADX and CCI altogether and what are results of your trading system?
Thank you very much, regars AGEDOG.
First time poster - can't start a new thread yet so i'll dig up an old one...

Love this indi and all the other digital ones like it.

Can someone take these 3 indi's
Attached File
File Type: mq4 DIGISTOCH.mq4   20 KB | 493 downloads


Attached File
File Type: mq4 GMACD_Signals.mq4   14 KB | 438 downloads


Attached File
File Type: mq4 ToR_1.20.mq4   33 KB | 392 downloads



and combine/format them like so;
Attached Image (click to enlarge)
Click to Enlarge Name: Before.jpg Size: 129 KB


Attached Image (click to enlarge)
Click to Enlarge Name: After.jpg Size: 100 KB


Maybe get the fonts larger and more uniform in size, and also maintaining the menu options and functionality.

I'd think it would be a matter of copy/pasting parts of the scripting and cleaning up the formatting - maybe its not possible at all?
Quoting Brand0n1
First time poster - can't start a new thread yet so i'll dig up an old one...

Love this indi and all the other digital ones like it.

Can someone take these 3 indi's
Attachment 516349

Attachment 516350

Attachment 516351


and combine/format them like so;
Attachment 516352

Attachment 516353

Maybe get the fonts larger and more uniform in size, and also maintaining the menu options and functionality.

I'd think it would be a matter of copy/pasting parts of the scripting and cleaning up the formatting - maybe...
Thank you for the indis.

Also very nice looking charts.........could you tell us what that indi on the main chart is ?
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