The indicators that I'd like to share with you are intended for manual / discretionary trading. I'm not going to rank them or make any guarantees -- I'll leave that for you to decide. However, I would like to emphasize that an indicator is a tool, like a hammer. A hammer in the hands of a master craftsman can build a beautiful house, but the same hammer in the hands of a novice carpenter will result in a leaky shack. The same with indictors -- it's not the indicator, rather, it's the trader.
With that said, here are a few simple rules that I request be followed. I understand most adults are incapable of following simple instructions, so my expectations are not very high:
- Do your best to maintain civility.
- Do not ask for source code -- the answer is 'no'. My source code uses templates that pull in many headers files, and I'm not giving out my build system.
- Do not ask for an EA -- the answer is 'no'.
- Do not ask for alerts, color changes, etc -- I'm not your personal coder.
- I will not provide trading advice (I'm still a rookie), but others may.
- If you have an idea and suggest I should try this or that, then please back it up with some evidence. I'm not going to spend a week of my time coding your hunch.
Most of the indicators presented here are intended to be used from an H4 chart. Of course, you are welcome to attach them to any time frame -- but H4 generally works best.
Most indicators that I'll be sharing here have never been posted before. However, in the past I have posted a number of indicators in my other threads and I reserve the right to re-post refurbished versions of them here.
One last point before I get started -- I am not a clever fellow, but I am a good mechanic. I do not develop algorithms. However, as a software developer I can merge algorithms to create new "hybrid" indicators. And that's mostly what you'll find here. "We stand on the shoulders of giants" and I neither expect or deserve credit. If I do not explictly site the authors of the indicators that I draw from it does not mean I don't appreciate their work -- I do. My thanks and appreciation to:
- @SwingMan -- a most gracious man who continues to develop and share the most innovative software (https://www.forexfactory.com/swingman).
- @Nih98 -- a mentor for many of us here and who passed away last year. I miss him greatly (https://www.forexfactory.com/nih98).
- @mladen -- who I have never met -- but it's fair to say that many / most of the indicators we use today were derived from one of his incarnations (https://www.forexfactory.com/mladen).
For fun and to help keep me engaged with this thread, I've decided to add some "proverbs" along the way. Don't take them too seriously -- they are a blend of sarcasm and exaggeration, with a bit of truth mixed in...
* Proverb #1:
Traders who request hand-holding will never be profitable -- their needs will never be met and that will be reflected in their trading skills or, more accurately, lack of trading skills. The biggest favor you can do yourself is be prepared to stumble and learn to rely on yourself.
* Proverb #2:
Traders who suck-up or brown-nose in the hope they will receive some magic sauce in return will never be profitable. For one thing, there is no magic sauce. And for another, the person they are sucking-up to are most likely a failed trader masquerading as a successful one. If there is such a thing as "magic sauce", then it comes from you. You are the one that creates it.
* Proverb #3:
If a trader claims to be a goat you should ignore them. I've never met a profitable goat and they are certainly not to be trusted.