2-Stage Universal Average Range Indicator

OK, I've added quite a few additional options. You will get a signal, as before, when the percentage reaches your target. You will also get a signal when the percentage is equal to or less than your target and the current candle crosses the upper or lower line. I made the long box draw to the right of the current candle even though it does not consider the the current candle so that the current candle is more visible.

We may still need to come up with a way to make the entry lines a bit more static, but on the larger timeframes they should be fine since only the candle before the current one will affect them.

Also, I haven't had a chance to test this very well, so let me know if you see anything weird.

Enjoy

I've been running this through the backtester and I think it might be better to lock in the Long/Short entry lines once the target percent has been reached. Either that or to disregard the current percentage for a Long/Short entry line break once the target percentage has been reached.

Play around with it and let me know what you think.

I have to give you props man, this is a very intriguing strategy.

Very nice. This is becoming even better than I had imagined.

I agree with your first sentence. How about this: Keep the red/green price flags (on the right side of the chart) visible at all times and allow them to fluctuate with the PA, but once the target is reached they lock into place and the lines come into view. At a glance, the visible price lines indicates a viable setup.

Actually, the entire system needs to lock down when the target is reached. The buffer lines as well as the 2 boxes. From that point only the chart candles & indis would be allowed to move.

And then we would need a reset command feature that would allow us to quickly reset the indicator any time we liked, such as for a missed trade or trades that we decided to take a pass on. A hotkey? A 'Ctrl-??' command? A chart feature, such as double clicking the small box? Is any of that possible?

Can the red/green price lines start with the price flags and draw only until the left side of the small box?

Please add "Reset System in Bars" within the parameters box. This would cause a locked system to reset X bars past the lockdown target point if no trades are taken. 6 bars for example: At the opening of the 7th bar past a target lockdown the system will reboot if no trades have been taken.

Within the parameters box, make the first 3 lines read like so:
Large Box Range In Bars
Small Box Range In Bars
Target Percentage Signal

Great work all around!

Intersting indicator.

I have it on an M15 chart with a support and resistance indicator.

Just wondering what percentage of the 3 bars we consider valid for a SHORT trade and a LONG trade?

I realize there are lines for a long and short entry but, could someone post a brief explanation of entry?

Thanks in advance

I have it set on 25 and 4 and 45%, and a buffer of 5 pips. It's constantly looking for a narrow channel, which is measured in percentages not in pips or moving averages. An alert will sound once that channel has formed. Should the current bar cross either one of the buffer (red/green) zones then the indi will lock down, allowing you to trade off that breakout. The boxes (25 & 4) and the buffer zones will remain in place until the indi is refreshed. You do this by switching time frames.

Thanks for the info MC

I take it this can be used on any TF such as M15 and then keep our eye on Higher TF for confirmation of entry?

There's no system to speak of. It's just a different kind of indic, nothing more. But yes, it works on every time frame.

Lucid did an absolutely fantastic job with the indicator so far but can't finish due to private work committments. Would anyone else just as good be able to step in and finish the job?

Attached is the New York Box indic from the 7am-9am Big Dog system. This indic has some features I'd like to include with my own, and I'd also like to have it turned into an EA once the mods are complete.

Anyone care to take a stab at Lucid's work? Many thanks in advance to whoever steps in (but experienced programmers only, please!)...

Chance

Still calling out to any experienced programmer who can build on Lucid's work. Anyone?