Desperatly need alert indicator for break of previous candle.

Hi I desperatly need a indicator to Email+Screen alert me when the current price candle breaks the price of the previous High/Low candle.

If the indicator can also be chosen to only alert of breaks to one direction that would be great. for instance in an uptrend most candles have a higher lows, therefore the indicator will move the alert to the low of the closed candle. Im hoping to use this indicator to help me get ready for a price reversal.

PLease see attached pictures for clarification.

I have searched the whole web and can not find a indicator like this. I can put in horizontal price alerts to do this but i trade of the 4hour chart and that would mean i would need to adjust the alert manually every 4 hours, which isnt that convienent.

If you can help me i would be so grateful. If anyone else needs this indicator i am willing to pay for your time. Depending how much you would charge.

Many thanks in advance..

Byn

Perhaps one of the reasons you didn't find one is because this kind of indicator is very difficult to write. Specifically finding the trend. I have been trying for months to do it and have been partially successful. I have looked at some of the solutions others have developed and they aren't as good as mine. But I must stress that mine is still a work in progress. I am sure that there something out there that will trigger an alert on the signal bar as you have specified, but it won't do the part of determining the trend very well. You probably will have to go with that indicator and determine the trend yourself.

hey byn.... current price candle breaks the price of the previous High/Low candle....

so really all your after is something that will alert when

a.... the prior 4 hour high is broken.....

or

b..... the prior 4 hour low is broken.....


and you want the ability to manually choose which direction, high or low..... ie, a or b...... correct......h

Hi Codemeister
im not after the indicator to determine the trend as im using it as a reversal of a trend. I will use moving averages and MACD to determine the trend. I will then use the price action of the candles to enter and exit the markets. So yes i just want the signal on the single previous bar. If you have something like this id appreciate it very much. I presumed that this indicator would have been developed and I have tried searching with no luck, so this is my last resort.

Hi Hayseed,
yes you got my requirements bang on. and you also stated it alot more clearer than me in a fraction of the words i used. cheers..
Any help or pointers would be much appreciated.

Many thanks.

hey byn..... here ya go.... it's an ea so put it in the experts folder.... alerts and emails only....

the timeframe by default is 240, 4 hour, but change at will....

you can select the pips difference.... default is 1, but you can set it to any number.....

you can select to recieve the highbreak alerts and/or the lowbreak alerts....

alerts the pair, timeframe and current bid both via on screen alert and sends email if you have email set up in metatrader.....

this will alert/email 1 time per bar.... otherwise you'll end up with a email at every tick......


so, if you have the timeframe set on 240, you can attach the ea to a lower timeframe chart for multiple alerts..... with timeframe set at 240, if you attach it to the 5 minute chart, you'll get 1 email every 5 minutes if the "4 hour" conditions are met....

give me a holler if it's not clear..... or any mistakes are noticed.....h

Holly crap!! how did you do that so quick! I basically just had a bath came out and you had done it. let me give it a go and test it. ill be getting back to you soon. cheers mate..

Hi Hayseed, i dont seem to be getting any alerts. (summary of what i did)

I added the expert to expert folder. Closed and Open Metatrader.
Opened 5min chart, attached byn expert.

I left the common Tab alone. (no changes)
left enable alert (on long and short positions)
left no tick in allow live trading (not that i want that anyway)
left no tick in allow dll imports
left a tick in allow import of external expert

On the inputs tab i changed the time to 5 mins (me being impatient)
left pips as 1
set alerthighbreak as true
set alertlowbreak as true

click ok and waited for the price to break the previous candles high or low which it did, but there was no alert.

I hope its something simple to fix. ill test it on the 4hr but will have to wait to for the price to break the previous candle..

Thanks again.

hey byn..... left no tick in allow live trading (not that i want that anyway)


//---

allow live trading is often confusing.... you'll need it ticked...... many ea's don't place trades at all....

such as this one.......there is nothing in the ea to place or effect trades in any way.... but you still want it to work, you must allow live trading.....

//-----

On the inputs tab i changed the time to 5 mins (me being impatient)
left pips as 1
set alerthighbreak as true
set alertlowbreak as true

perfect..... you could also set the timeframe to 0 ....

it's a good idea to lower the timeframe to test it like you did..... the usdjpy is a good one to try right now......h

I have a similar method but using HighLow_Custom. The problem is that it has no labels showing price and time frame on lines and since I use 2 time frame breakouts at the same time, it becomes a bit confusing. Can you modify the code so it shows the labels on the lines? I think it can be useful for this method too (or not).

Thank you a lot.

hey ajr..... sometimes in deals like this you can have the higher timeframe set at a much larger size..... it's important to apply the largest line first... it must be applied first.....

the labels might get in each others way at times when the lines overlap depending on their location.... we could code in adjustments for that case......where did you have in mind locating them.....h

Hi Hayseed,
I checked the allow live trading but still no alerts.
I also dont have a smiley face in the top right if that means anything.
I though id let you know that cos a EA i tested before had a smiley face when i checked the allow live trading.

If i selected the time as 0 would this mean that on every tick above or below previous tick you would get a alert?? (just of of curiosity)

I did test it on 1 and 5 min time parameter though and no joy..

Thanks again for you help..

hey byn.... something seems amiss..... there should be a smiley face.... otherwise it is not attached and there will be no alerts....

the timeframe is the period which you want to be alerted of breakouts....

0, means current charts timeframe.....

5, means 5 minute

15, 15 minute
and so on....


you can set the timeframe at 240, which is 4 hours and still attach the ea to the 5 minute chart.... you will only get alerts for the 4 hour breaks.....

just rechecked again.... it works here.... recheck everything to figure out why no smiley face.....

in the picture below, the ea is attached to the 5 minute chart usdjpy and the ea setting is 15 , or 15 minutes..... it alerted when the 15 minute high was broken.....h

Hi Hayseed,
I think i need shooting! i didnt click the play button on the expert adviser!! haha so now i have the smiley face and im also getting alerts.
Ive tested for abit now and noticed the following.

The Alerts come at the open of the candle and only if the condiction is met.
So for my alert to be accurate i would set time as 240min and then switch to the 1min chart so that if a 1min bar opens above the high of the 4 hour bar i would get an alert. which is perfect.

however i have found one sceanario where the alert will fail. If the high of 4 hour is 100 and the open minute bar opens at 95 then moves to a high of 105 and then returns to close at 95 (or below 100) there will be no alert. This will not happen often but it does.

However i thank you very much. I am planing to use it for my 4 hour system which i have manually backtested, the results are in the attached spreadsheet. It is based on a 1-1 risk reward, however the win rate is 65%, each trade for the results are 4% of equity however just change the lot size formula to calculate for 2% as most would recommend. The equity curve for last 15 months is at the end and there is a monthly % gain or loss on the right. have a look and see what you think? this one is for GBPUSD only, the system also works on EuroUSD. It must be used only on low spread pairs as the risk/reward is 1-1..

Byn.

hey byn.... it's based on the bid, not the close of any particular bar.... so when the bid + pips is greater than the previous 4 hour high it will alert.... so if the price rises above , you get the alert whether if falls back below or not....

and of course if you wanted to be alerted when the daily high was broken you'd set the timeframe at 1440....


//---
but i see a error.... originally i took it as if the high was 1.3450, you wanted to be alert 1 pip away, a preemptive alert.... as it is wriiten now, you will recieve the alert when the bid is 1.3450 because bid+1pip > 1.3450 .....

now i'm thinking if the prior high is 1.3450 you want to be alerted at 1.3451....

if so, we need to adjust the math, or you'll have to type in -1 instead of 1.....h

Well, the tabs may locate on top of the line. I've seen an indicator having a buffer for positioning the tabs a few steps back or forward. And the color corresponding with the color of line. I just don't remember the indicator...

Thank you a lot for answering.

AJR

It's really not that hard, Byn. It would take about 5 minutes for me..

Hi Hayseed,

Boy, has it taken me a while to track you down! Finally found you.

I use your EA for Higher High Lower Low alerts and it's great.
Trouble is I get more signals tha I can handle because it can trigger several time during the timeframe and I watch multiple pairs

Do you have anything in your library that will do the same thing but based on the bar close so I only get alerts when the current bar closes telling me if if the high/low of the just closed bar was higher/lower than the high/low of the bar before that. The option to select working off the open/close as an alternative would be pretty good too.

Thanks for any help

Haha, do u need to tell this?

Hayseed is no. 1. Ok, then u're no.2...just kidding..

I am dumber, I cannot make it below 5 minutes...

cheerz

Hi,

Can anyone provide an MT4 Indicator that alerts and/or displays on a current candle close above/below the previous candle high/low.

Thanks,
Dave