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Most simple Sideways Detector

  • #1
  • First Post: Edited Jan 15, 2018 6:25pm Oct 13, 2017 6:04am | Edited Jan 15, 2018 6:25pm
In all my time developing systems for the Financial Markets I saw a lot of people complain about having difficulties detecting sideways markets programmatically.

So I thought to share the method I'm using and being very satisfied with it. It is certainly not perfect, especially after a big move. But in the end it doesn't need to be perfect to work.

The algorithm is based on the assumption that the markets always move sideways, except when they are not.

I hope it helps you.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 55 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 46 KB


Attached File(s)
File Type: mq4 SidewaysDetector.mq4   8 KB | 5,690 downloads | Uploaded Jan 15, 2018 6:25pm
  • #2
  • Oct 13, 2017 6:34am Oct 13, 2017 6:34am
Sideways? I like!
___
As per image, it seems to be highlighting them right.
Qn : Because we can't take a trade yesterday, how fast does it let you see it's ranging?
L.L.L.T
  • #3
  • Oct 13, 2017 8:00am Oct 13, 2017 8:00am
Quoting mw108
In all my time developing systems for the Financial Markets I saw a lot of people complain about having difficulties detecting sideways markets programmatically. So I thought to share the method I'm using and being very satisfied with it. It is certainly not perfect, especially after a big move. But in the end it doesn't need to be perfect to work. I hope it helps you.

Nice.

But I think your RemoveObjects ... not working when indicator is removed from chart. Leave behind some of the rectangle objects.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4
  • Oct 13, 2017 9:40am Oct 13, 2017 9:40am
I updated the code and also added a filter pass to avoid the algorithm to include big movements as beginning of a zone. You might want to change the "Average_Weight" value to reduce the maximum allowed height.

Quoting emmanuel7788
{quote} Nice. But I think your RemoveObjects ... not working when indicator is removed from chart. Leave behind some of the rectangle objects.
True. Thanks for pointing this out. The loop must have been the other way around, because when you delete chart objects, it changes the index of the following. I fixed that and updated the code.

Quoting KayStreet
Sideways? I like! ___ As per image, it seems to be highlighting them right. Qn : Because we can't take a trade yesterday, how fast does it let you see it's ranging?
Yea, some people want to avoid sideways. Others want to exploit them.

It needs a minimum of 3 consecutive bars inside the zone to draw the rectangle. But I added an input variable so that users can change that.
  • #5
  • Oct 13, 2017 11:57am Oct 13, 2017 11:57am
Quoting mw108
In all my time developing systems for the Financial Markets I saw a lot of people complain about having difficulties detecting sideways markets programmatically.
Hi

Nice

Consider showing only last/current situation

Perhaps attached will give you more ideas

Cheers
Attached Images
Attached File(s)
File Type: ex4 cm ind Level.ex4   12 KB | 2,092 downloads
File Type: mq4 cm ind Level.mq4   4 KB | 2,859 downloads
Don't limit yourself!!
  • #6
  • Oct 14, 2017 6:27am Oct 14, 2017 6:27am
hi are you an mt4 coder here ready to work for free plz pm me , for the ea
coding of a system very profitable and good for account management as shown
in my explorer
thanks
  • #7
  • Oct 14, 2017 9:44am Oct 14, 2017 9:44am
Quoting mosiskv
{quote} Hi Nice Consider showing only last/current situation Perhaps attached will give you more ideas Cheers {image} {image} {file} {file}
I updated the code to do that. I don't understand the attachment though.


Quoting Kleva
hi are you an mt4 coder here ready to work for free plz pm me , for the ea coding of a system very profitable and good for account management as shown in my explorer thanks
I'm sorry, but I don't work for free.
  • #8
  • Jul 12, 2019 10:04am Jul 12, 2019 10:04am
Quoting mw108
In all my time developing systems for the Financial Markets I saw a lot of people complain about having difficulties detecting sideways markets programmatically. So I thought to share the method I'm using and being very satisfied with it. It is certainly not perfect, especially after a big move. But in the end it doesn't need to be perfect to work. The algorithm is based on the assumption that the markets always move sideways, except when they are not. I hope it helps you. {image} {image} {file}
Could y make alert for this indicator please?
  • #9
  • Dec 14, 2019 4:57pm Dec 14, 2019 4:57pm
Hello MW108,
Thank you for creating this indicator. It has been helpful in avoiding untimely trades..
I wonder if it is possible to reduce the width of the rectangles a bit, so that they are more confined to the pertaining candles?
Such as the yellow boxes in the attached snap-shot.
Arrows are pointing to the unwanted spill-overs.

Thank you very much.
Attached Image
  • #10
  • Jan 23, 2020 5:11am Jan 23, 2020 5:11am
i m searching an indicator that shows the sideways - contraction - consolidation phase
that create a collored box in the graph and in the middle a line that is the average price of this phase
more bellow ..

sideways - contraction - consolidation phase Indicator https://www.forexfactory.com/showthread.php?t=976261
Everything flows. Learn to Earn.
  • #11
  • May 11, 2020 9:55am May 11, 2020 9:55am
Hello MW108,
do you have a MT5 version of the sideways detector indicator.
  • #12
  • Dec 28, 2020 3:58am Dec 28, 2020 3:58am
Hello mw108

Thank you for this indicator that i was looking for !
I know that this is an old topic but i would like to use this indicator with an Expert Advisor by using the iCustom (MQl4) method but i'm a little lost : Do you know if it's possible ? what are the arguments to specifiy exactly ?
At the end the idea is quite simple: by or sell when there is a breakout. I know that this is not necessary the good way but it's just to try to learn mql4 writing code...

Thank you very much !
Steven
  • #13
  • Jan 20, 2022 6:16am Jan 20, 2022 6:16am
Quoting mosiskv
{quote} Hi Nice Consider showing only last/current situation Perhaps attached will give you more ideas Cheers {image} {image} {file} {file}
For this indi wil, be usefull signal when indi apears
logitech
  • #14
  • Mar 20, 2022 6:03pm Mar 20, 2022 6:03pm
thx mw108 rectangles did not fill in mt5 add

ObjectSetInteger(0,objName,OBJPROP_FILL,true);
  • #15
  • Last Post: Dec 21, 2024 4:25am Dec 21, 2024 4:25am
This indie is super but it can only show limited number of boxes/ranges ... can you please make it unlimited? I entered num 1000 for zones but the indie wont show 1000 zones . Thx

Quoting mw108
In all my time developing systems for the Financial Markets I saw a lot of people complain about having difficulties detecting sideways markets programmatically. So I thought to share the method I'm using and being very satisfied with it. It is certainly not perfect, especially after a big move. But in the end it doesn't need to be perfect to work. The algorithm is based on the assumption that the markets always move sideways, except when they are not. I hope it helps you. {image} {image} {file}
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