Sideways detecting indicator | Forex Factory

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Sideways detecting indicator

  • #1
  • First Post: Jul 11, 2023 7:08am Jul 11, 2023 7:08am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 111 KB


This is sideways detecting mq4 indicator, plots red and green histogram, red histogram shows trading market and green histogram shows trending market

works perfectly to identify sideways trend, please see EURUSD 1 min chart for details

Can some one please help to add multi time frames to this wonderful indicator, I want to use 5 min TF on 1 min chart
Attached File(s)
File Type: mq4 sideways.mq4   6 KB | 1,353 downloads
  • #2
  • Jul 11, 2023 9:26am Jul 11, 2023 9:26am
Just input 200 instead of 40, 5 times 40 = 200 or if, if you want a 15 min chart go for 40 x 15 = 600
"Great Men are not born great, They Grow Great."
  • #3
  • Jul 11, 2023 9:40am Jul 11, 2023 9:40am
Thank you so much for your valuable suggestion, I tried this, but sometime its 5 min delayed signal.

I think Mtf indicator similar to attached one will be more help full
Attached File(s)
File Type: mq4 LargerTrend MTF.mq4   19 KB | 777 downloads
  • #4
  • Jul 11, 2023 12:43pm Jul 11, 2023 12:43pm
What is the system here? Entry rules, money management?
Perfection is the enemy of good enough!
  • #5
  • Jul 11, 2023 12:51pm Jul 11, 2023 12:51pm
Quoting MichaelSch
What is the system here? Entry rules, money management?
Most of the time loss making trades are from trading market, if we can detect trading markets, we can avoid trading or use more filter to minimize loss making trades
  • #6
  • Jul 11, 2023 1:19pm Jul 11, 2023 1:19pm
Quoting jay1176
{quote} Most of the time loss making trades are from trading market, if we can detect trading markets, we can avoid trading or use more filter to minimize loss making trades
... and what is now the system? I think this here is in the false place.
Perfection is the enemy of good enough!
  • #7
  • Jul 11, 2023 2:44pm Jul 11, 2023 2:44pm
Quoting MichaelSch
{quote} ... e qual è ora il sistema? Penso che questo qui sia nel posto sbagliato.
It is a simple but good indicator that you can add to whatever strategy and template.
In the following screenshot I have added it to Supertrend indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #8
  • Jul 11, 2023 6:38pm Jul 11, 2023 6:38pm
Well well well. How nice. The Bollinger Momentum indicator was my idea and I was the programmer. Nice to hear that people think it is useable.

The indicator make look ups at the Bollinger bands. When they are widening, then there is momentum and the bars will be green. If the Bollinger bands are narrowing, then we are getting into ranging conditions and the bars are red.

So I attach my indicator here.
Attached File(s)
File Type: ex4 BollingerMomentum_6.ex4   11 KB | 738 downloads
MetaTrader 4 - so many advantages.
  • #9
  • Jul 11, 2023 7:01pm Jul 11, 2023 7:01pm
One very important point is, that while you have green bars - the direction of the trend can change and you still have green bars. That is how Bollinger bands works.

So why did I make this indicator when it is plain Bollinger bands function? It is because I wanted an easy way to see the status of momentum. Bollinger bands require a little more attention.
MetaTrader 4 - so many advantages.
  • #10
  • Jul 11, 2023 7:04pm Jul 11, 2023 7:04pm
Quoting RiskFighter
Well well well. How nice. The Bollinger Momentum indicator was my idea and I was the programmer. Nice to hear that people think it is useable. The indicator make look ups at the Bollinger bands. When they are widening, then there is momentum and the bars will be green. If the Bollinger bands are narrowing, then we are getting into ranging conditions and the bars are red. So I attach my indicator here. {file}
If anyone want to know more, then my thread about the indicator is here:
Indicator for identifying ranging condition | Forex Factory
MetaTrader 4 - so many advantages.
  • #11
  • Jul 12, 2023 2:44am Jul 12, 2023 2:44am
Quoting flashpaul
{quote} It is a simple but good indicator that you can add to whatever strategy and template. In the following screenshot I have added it to Supertrend indicator. {image}
perfect
  • #12
  • Jul 12, 2023 2:47am Jul 12, 2023 2:47am
Quoting RiskFighter
Well well well. How nice. The Bollinger Momentum indicator was my idea and I was the programmer. Nice to hear that people think it is useable. The indicator make look ups at the Bollinger bands. When they are widening, then there is momentum and the bars will be green. If the Bollinger bands are narrowing, then we are getting into ranging conditions and the bars are red. So I attach my indicator here. {file}
Thank you for giving such a wonderful indicator, can you make mtf version of this indicator please
  • #13
  • Jul 12, 2023 2:49am Jul 12, 2023 2:49am
Quoting RiskFighter
{quote} If anyone want to know more, then my thread about the indicator is here: Indicator for identifying ranging condition | Forex Factory
  • #14
  • Jul 12, 2023 6:16am Jul 12, 2023 6:16am
Quoting jay1176
{quote} Thank you for giving such a wonderful indicator, can you make mtf version of this indicator please
Sorry, I don't have time. I am working hard on my trading robots.
MetaTrader 4 - so many advantages.
  • #15
  • Jul 12, 2023 7:00am Jul 12, 2023 7:00am
Quoting jay1176
{quote} Thank you for giving such a wonderful indicator, can you make mtf version of this indicator please
Regarding the advice in post #2. If your signals sometimes are 5 minutes late, then no indicator can give you fresh signals, so the advice is valid i think.

I attach a way to put more indicators with different parameters on the screen.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
MetaTrader 4 - so many advantages.
  • #16
  • Jul 12, 2023 8:13am Jul 12, 2023 8:13am
Hello,

I like what you did with the last chart do you have a template please? thankyou
  • #17
  • Jul 13, 2023 2:15am Jul 13, 2023 2:15am
Quoting bountintern
Hello, I like what you did with the last chart do you have a template please? thankyou
No. I do not have a template. But it is just to place the indicater on the chart 3 times. Nothing could be more easy. Then experiment with the values.
MetaTrader 4 - so many advantages.
  • #18
  • Jul 13, 2023 2:33am Jul 13, 2023 2:33am
Quoting RiskFighter
{quote} Sorry, I don't have time. I am working hard on my trading robots.
God bless you success in your trading robot, let your robot be milestone in auto trading
  • #19
  • Jul 13, 2023 3:29am Jul 13, 2023 3:29am
Quoting RiskFighter
{quote} Regarding the advice in post #2. If your signals sometimes are 5 minutes late, then no indicator can give you fresh signals, so the advice is valid i think. I attach a way to put more indicators with different parameters on the screen. {image}
What I mean is 5 min chart had closed first green bar at 8.30 am with 40 length, logically 1 min chart with 200 length should close first green bar at 8.30 am but 1 min chart closed first green bar at 8.46 am, hence MTF required, to get accurate signals (please see attached charts)

5 min chart


1 min chart
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 107 KB
  • #20
  • Jul 13, 2023 3:51am Jul 13, 2023 3:51am
Quoting jay1176
{quote} What I mean is 5 min chart had closed first green bar at 8.30 am with 40 length, logically 1 min chart with 200 length should close first green bar at 8.30 am but 1 min chart closed first green bar at 8.46 am, hence MTF required, to get accurate signals (please see attached charts) 5 min chart 1 min chart {image}
1: You only posted one chart.

2: I am not sure I understand. But I think you are wrong. There shall be differences between the closes on different setups. That is the whole point. If you look 40 bars back at one instance and 80 bars back on another, then there will allways be a difference in when bar change colour.
MetaTrader 4 - so many advantages.
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