Strength breakout indicator

Quoting LITEchild

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{quote} Thanks for the detailed explanation 4fx. The first thing that jumps out to me is the fact that these seem to be quite a lot of pairs to watch on a 5min chart for intra-day scalping. A way to filter down to the higher probability trades may help. But in any case I do realize that different styles suit different traders, so this might still work well for you. Good luck.

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Quoting 4fxonly

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{quote} I'm not sure what you mean. Isnt' that what's happening already? Newest alert on top of list? I am no coder but, by having handled so many indicators in the past, I'm sure the reiterating alert could easily be suppressed. After all, this just requires the same condition as the arrow i.e. to appear only when the trigger condition is met.

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Quoting LITEchild

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{quote} Default settings. {file}

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Quoting LITEchild

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{quote} THIS IS THE NEW LOGIC I AM USING FOR FILTERING STRENGTH AND DIRECTION FOR DAILY TIMEFRAME ONLY INTRA-CYCLE BREAKOUT 1. BUY ARROW PRINTED ONLY ON STRENGTH BREAKOUT WITHIN THE GREEN COLOR CYCLE! 2. SELL ARROW PRINTED ONLY ON STRENGTH BREAKOUT WITHIN THE RED COLOR CYCLE! EMPHASIS: This logic only applies to the Daily Timeframe. If MT7 can code this logic as a separate tool(arrow?) that can display on the lower time frame to guide for daily TF direction, that would be awesome! {image}

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Quoting dansunny-fx

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{quote} only 1 pivot line is visible, did i miss something? {image}

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Quoting 4fxonly

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Hi. Just posting a scalp I closed a few min ago, to show that the indi could also mark fake points. A higher bull value at the last blue arrow did not necessarily mean a buy. It all depends on the context. At that point the bar showed a long wick and was bouncing off the pivot and the previous congestion, while the tick volume was higher than previous ones as well. The overall trend is down on the matrix, so chances the arrow marked a fake signal were high. I entered and moved the stop to be after 10 pips. Cautiously the original stop was over the...

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Quoting MathTrader7

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{quote} By looking at the calculation code it is obvious that the indicator uses the future values for smoothing (averaging) bull and bear values, which works fine with history data, but in real time since there is no future data, the indicator just uses the current value.... I stopped further development of this indicator.

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Quoting friend4you

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Maybe this helps with many options. {file}

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Quoting 4fxonly

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Hello guys. I'm just popping in once again in to give my little contribution to the thread. First of all let me say how grateful I am first to LITEchild for opening this thread and posting the original indicator to be modified with his own idea, which IMHO has a solid logic, then to Mathtrader7 who modified it accordingly. The problem with the MT7 version was that there was a total confusion of signals, as the popup window would appear on each subsequent bar still fulfilling the required condition for a signal. So, filtering the new signals was...

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Quoting LITEchild

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{quote} Thank you for such amazing generosity 4fxonly! This is the true spirit of Forex Factory. Sharing and learning together. I really appreciate your selflessness! If there is ever anything you need that I can help you with, pls do not hesitate to holla. Cheers buddy!

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Quoting Bret

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I second that very generous of you! I'm wondering about one of the default settings .. "Alerts_OnCurrentBar false" we had talked about having it only signal or alert on the formation of an arrow so with this set as false will it not generate the alert?

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