Hi,
I am developing a grid-based EA and I am looking for indicators to help me enter the market during non-trending (at least, not strongly) spans of time.
The perfect situation for my EA to enter would be when the market is oscillating between two points but not breaking out through them.
If the price does break through one of the points (say, point A), I'd like some way to determine if it is going to retrace back to point B or if it will leave the zone of oscillation for good.
At the moment I am using only one indicator; Alligator. I only enter the market when the jaws are closed; that should signal that no strong trending is occurring (or am I wrong about that?).
I would like another indicator to confirm that the market is sideways.... or better yet an indicator that would tell me between which points oscillation is occurring and how strong those pivot points are.
I did a little bit of research on the indicators listed at forexrealm (it is a pretty big list)
The following indicators caught my eye as potentially useful for my purposes:
Shaff Trend Cycle (similar to MACD)
CP Volumetric Trend (responds to deviation in volume from standard; grows at turning points)
Linear Regression Trendline
Range Indicator
What do you guys think - do any of those indicators make sense to use? Got any favorites that would suit this purpose?
I am developing a grid-based EA and I am looking for indicators to help me enter the market during non-trending (at least, not strongly) spans of time.
The perfect situation for my EA to enter would be when the market is oscillating between two points but not breaking out through them.
If the price does break through one of the points (say, point A), I'd like some way to determine if it is going to retrace back to point B or if it will leave the zone of oscillation for good.
At the moment I am using only one indicator; Alligator. I only enter the market when the jaws are closed; that should signal that no strong trending is occurring (or am I wrong about that?).
I would like another indicator to confirm that the market is sideways.... or better yet an indicator that would tell me between which points oscillation is occurring and how strong those pivot points are.
I did a little bit of research on the indicators listed at forexrealm (it is a pretty big list)
The following indicators caught my eye as potentially useful for my purposes:
Shaff Trend Cycle (similar to MACD)
CP Volumetric Trend (responds to deviation in volume from standard; grows at turning points)
Linear Regression Trendline
Range Indicator
What do you guys think - do any of those indicators make sense to use? Got any favorites that would suit this purpose?