New Momentum Bar Trend Indicator

Hey Team,

In todays video I share my brand new indicator the OGT CANDLE RANGE INDICATOR v1.0

This is a powerful momentum trading indicator which allows your to select % of candle range that is has been filled (bullish or bearish).

What sets this indicator apart from similar indicators is that it only shows green bullish signals in an UPTREND and red bearish signals during a DOWNTREND. It does this by using the MA slope indicator - which is also included in the zip below.

Any question or improvements please let me know.






Thanks,
Zoheb.

Honestly..... more 'systems' than IBM. How is the YouTube advertising revenue going, better than your trading results I presume ? Amazed the mods haven't picked up on this.

Yeah I concur with you.
Every few weeks he comes out with a new system just to direct traffic to his YouTube videos.

Nice video thumbnail, that all I can say, and this thread should be in platformtech

Zoheb,
I like the concept that a big body with a small wick on a trending moving average is likely to continue in that same trend. I also like the back testing feature, though I'd like to know how many pips it uses for stop loss or take profit.
My suggestions are as follows:
1) Just have 1 field for stop loss # of pips. TP option not needed if software calculates TP based on R/R ratio.
2) Allow any risk/reward ratio. This to be determined by user to 1 decimal place.
3) Please let the user choose some spacing between the arrow and the candle. This makes the arrow signals much easier to read. Right now the arrows are too close to the candles.

It's true that Zoheb produces a lot of software but I don't want to limit his creativity. There are gems here and there, though also there are others that don't appeal to me eg. I have found his OGT trend indicator to be very helpful in terms of the time it saves me in scanning for good trends in Forex. Without it, searching among 28 pairs on multiple frames can be overwhelming. Also he is not charging us for indicators, but just asks for feedback. If he benefits financially from YouTube views, I say good luck to him. Way I see it, he is providing value. it is up to us to be selective and only use what benefits us.

Hi Zoheb,

I really like your idea and your indicators for trend following/pullback, I'm trading with this strategy too!
Thanks for sharing!