I rarely use forums, I've traded for a number of years and experienced the usual ups and downs.
I'm a coder, I've spent years on my own crazy complex indicator - basically hundreds of calculations that boil down to a single line indicator. If it goes up, buy, if it goes down, sell.
For the most part, it's served me well. The losses always come from bad money management, over-confidence, etc. This confirms for me that no indicator can make you rich as it's how you trade with that indicator that makes or breaks a trader.
However, I'm confident in the work I've done but I'd like to see how other traders might use the indicator. I think there may be some insight from forum members that will result in:
- me using my own indicator better
- me helping other traders do the same
At this stage, I'm only providing CSV file output for 3 months of indicator data, not an MQL or EX4 file. There are two reasons for this:
- my indicator relies on data that's pre-processed outside of MT4, data from various web sources, etc... it's complex and it's not "packaged" for easy distribution
- I'd like to see if anyone is interested in providing an unbiased / raw interpretation of the indicator. i.e.; without knowing how it's calculated. What correlations do you see? How do you think the indicator could be used?
The attached CSV files are based on the 1HR timeframe. So the data is simple timestamp + "," + number:
If anyone wants to write a simple indicator to read in the text file for a given currency pair, loop through each line, and plot the numbers (on the 1HR timeframe), and post the MQL file here so others can use it, that would be great.
I've attached a screen shot of how my indicator looks on the GBPUSD chart. A simple orange line. The higher the line goes up the stronger the signal to buy, the lower it goes, the stronger signal to sell. If it's at 0 then there's either no information to display for that period, or it's because of an equal buying and selling signal.
I'm not here to discuss trading styles (stop losses, risk/reward, etc, etc). That's a discussion to be had that's mutually exclusive to any discussion about indicators. I'm here just to discuss how this indicator might help your trading.
UPDATE: Use the file "8 currencies v3.csv"