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A Free Indicator for Metatrader Mt4

  • #1
  • First Post: Edited Mar 4, 2008 3:11pm Feb 5, 2008 2:59pm | Edited Mar 4, 2008 3:11pm
This indicator is based on a combination of standard indicators and it is very easy to use and read. It can detect buy/sell, up/down, entry/exit signals on any timeframe charts and for currency pairs.

Usage:

Green bar: Buy/Long
Red bar: Sell/Short
Blue bar: Going up/Ready to buy/Hold long position/Aggressive buy
Yellow bar: Going down/Ready to sell/Hold short position/Aggressive sell
Grey bar: Go take a nap...ZZZ...zzzz...Nothing to dohttp://www.fxstreet.com/forum/images...on_mrgreen.gif
Detailed and updated instructions about the free indicator: Raingull Spectrum

BTW, we can try another more accurate signal service, directly generated from MT4, received Via RSS Feed, and it is FREE too!
Attached Image (click to enlarge)
Click to Enlarge Name: raingull-indicator.JPG Size: 125 KB
Attached File(s)
File Type: ex4 RainGull Spectrum.ex4   5 KB | 4,509 downloads
  • #2
  • Feb 5, 2008 4:05pm Feb 5, 2008 4:05pm
Hi fofa,

Can you explain what the indicator is doing, where it gets its input? Is it MA based? MTF inputs? Kind of hard to give faith blindly and use the indicator.

Regards,
lucidlamp
  • #3
  • Feb 5, 2008 4:52pm Feb 5, 2008 4:52pm
The writer said this indicator is kind of oscillating indicators like RSI, MACD, CCI, WPR, etc. It combines and picks short term (fast) break out signals spliced on another group of long term (slow) trend signals.

And it uses single time frame data. But on different time frame charts, it uses different bulit-in trigger's threshold value.
  • #4
  • Feb 9, 2008 5:06am Feb 9, 2008 5:06am
guys this indicator seems to be totally stupid...look at this..

http://i81.photobucket.com/albums/j2...pifagiph-5.gif

lol! in this entire downtrend not nce has the indicator told us to go short..infact the time when one could make the big pips it shows those grey bards, wanting us to go to sleep...huh! looks like an antipip indicator to me...
I believe . . .
  • #5
  • Feb 9, 2008 7:52am Feb 9, 2008 7:52am
LOL that's funny.

Maybe it was designed that we take the OPPOSITE trade?
  • #6
  • Edited 9:20pm Feb 10, 2008 6:51pm | Edited 9:20pm
In that chart, I can see one trade could get at least 10 pips, and another would take 100 pips at least.

Not that bad.

For me, 10-pips is not a stupid deal. 100-pips... is not totally stupid.
Attached Image
  • #7
  • Feb 15, 2008 12:27am Feb 15, 2008 12:27am
Quoting fofa
In that chart, I can see one trade could get at least 10 pips, and another would take 100 pips at least.

Not that bad.

For me, 10-pips is not a stupid deal. 100-pips... is not totally stupid.
How is the system is perfoming? Any good results??
  • #8
  • Feb 25, 2008 1:05am Feb 25, 2008 1:05am
It looks as if the Dim Gray and Red colours are the wrong way round. Change the colours around and it works fine.

napeharm
  • #9
  • Feb 25, 2008 5:23am Feb 25, 2008 5:23am
Quoting fofa
In that chart, I can see one trade could get at least 10 pips, and another would take 100 pips at least.

Not that bad.

For me, 10-pips is not a stupid deal. 100-pips... is not totally stupid.
Agreed fofa - and thanks for sharing.
Do not focus on making money; focus on protecting what you have.
  • #10
  • Apr 7, 2008 8:18am Apr 7, 2008 8:18am
Could you please post the source code?


Thanks
  • #11
  • Last Post: Dec 18, 2009 4:56am Dec 18, 2009 4:56am
Here you go!
Attached File(s)
File Type: mq4 RainGull Spectrum.mq4   4 KB | 2,302 downloads
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