New Indicator creation

[shabz]

Is it possible to create an indicator that uses 2 other indicator's conditions to alert 1 of 4 possible conditions on a chart ?

The indicators I have in mind are the Osma and the Hull moving average.

 

I would like to have Strong BUY, Weak BUY, Strong SELL & Weak SELL printed as 4 types of arrows with alert with the 4 conditions are met.

 

A simple strategy made simpler by a visual signal.

Edited August 7, 2010 by shabz
wording

[Guest Todayke]

Yes, it is possible. Write down the rules!

[chrisbenjy]

yes, on "MetaEditor" along the bottom on the debug menu it says "help". Click on it and then scroll down and on the left hand side click "Technical indicators". Then scroll down again and click "iCustom". Then read that page.

 

It should help you with your query, but if you get stuck just post another question on here.

 

Chris

[shabz]

Simple Rules: Price bar must close for each condition.

Above both 10 Sma & 40 Hma = Buy . Below both 10 Sma & 40 Hma = Sell. (Must have adjustable parameters)

Filter for Strength is the Osma. (again parameters adjustable).

Above 0 level & Rising = Strong Buy, Above & Falling = Weak Buy

Below 0 level & Falling = Strong Sell, Below & rising = Weak Sell

 

I will attach the indicators that I am using. The SMa is the standard one with MT4

 

Indicators attached below

Edited August 8, 2010 by shabz

[shabz]

These are the indicator files:

 

http://www.4shared.com/file/qQbOtuM_/HMA_40_slow.html

http://www.4shared.com/file/h1FY0743/MACD_OsMA_4ColorH_2LVar_mtf.html

[iwjw]

Is it possible to create an indicator that uses 2 other indicator's conditions to alert 1 of 4 possible conditions on a chart ?

The indicators I have in mind are the Osma and the Hull moving average.

 

I would like to have Strong BUY, Weak BUY, Strong SELL & Weak SELL printed as 4 types of arrows with alert with the 4 conditions are met.

 

A simple strategy made simpler by a visual signal.

 

Didn't test it properly but maybe it's useful for you:

http://[email protected]/file/MDTod9Vl/_shabz.html

[shabz]

Hi iwjw,

 

Indicator looks fine the way it is set up, I am finding the arrows are not lining up quite as well to the conditions - some are late, some are totally missing. Maybe the attached screenshot might help.

 

http://www.4shared.com/photo/g3T_vjmq/04_Aug_08_1500.html

[iwjw]

Hi iwjw,

 

Indicator looks fine the way it is set up, I am finding the arrows are not lining up quite as well to the conditions - some are late, some are totally missing. Maybe the attached screenshot might help.

 

http://www.4shared.com/photo/g3T_vjmq/04_Aug_08_1500.html

 

The missing of signals might have something to do with my display filter (where the alert is generated) to show a signal only once

If same type of signal occurs consecutive the indi will not show the second signal I guess

For signal being late, the arrow occurs on that candle that would be the opening candle for the trade. So the conditions were met one candle prior

But the code is really simple so it shouldn't be that hard to fix it

btw. the indi is looking good on a renko chart

 

EDIT: just saw it...I'm using the signal line of the OsMA and not the histogram

Edited August 8, 2010 by iwjw

[Guest raw]

These are the indicator files:

 

http://www.4shared.com/file/qQbOtuM_/HMA_40_slow.html

http://www.4shared.com/file/h1FY0743/MACD_OsMA_4ColorH_2LVar_mtf.html

 

Could you please Upload again? Second file not available. Thx.

 

Raw

[shabz]

Hi iwjw,

 

Can you have the signal firing on the close of the candle where the condition is met, rather than the open of the next candle ?

 

The filter is the Osma histogram, you can take off 2 lines of Macd, by setting them to none. Also was I correct with the colours of the arrows for Strong & Weak ?

[iwjw]

Hi iwjw,

 

Can you have the signal firing on the close of the candle where the condition is met, rather than the open of the next candle ?

 

The filter is the Osma histogram, you can take off 2 lines of Macd, by setting them to none. Also was I correct with the colours of the arrows for Strong & Weak ?

 

I've changed the arrow position, but for me the indi would be a repainter now

Fixed a bug in alert functionality....the bug is still in the first version

Changed to OsMA histogram

Don't know whether the implementation is correct now, but for me the indi would be unusable now because of the tons of signals

I'll play around with the signal line version a little bit and leave the _2 version as it is

http://[email protected]/file/4DFUfSh8/_shabz_2.html

[shabz]

Hi iwjw,

 

The Macd indicator is mtf, when I set it to 15 TF on a 5 min TF, the Osma histogram is OK for the SELL side, but on the BUY side (dark blue bars) there are errors I'm sure. Need to check if there is a coding error there ?

It will definitely improve the signal I am sure, if we can correct the indicator errors.

 

I don't mind all the extra signals, it only confirms the direction of trend. You can always filter them in terms of strength. But fixing the macd might help.

Edited August 8, 2010 by shabz