Indicator accessible right here without spending a dime:
https://www.mql5.com/en/market/product/119515/
Much like logic utilized in: Golden MA MTF TT
Overview
“Golden MA” indicator for OB/OS ranges. It is primarily based on Excessive/Lows of upper timeframe (HTF) earlier bar. Solely helpful in swing buying and selling or scalping.
Finest for at the least M15+. For decrease timeframes you may want to vary StartPips to decrease worth to get constant strains. As a result of decrease timeframes could have smaller pip distances.
Options
- Outline Larger Timeframes for Present Timeframe:
- Use a comma-separated record to outline the upper timeframe for the present chart timeframe.
- Instance: M1=H1,M5=H4,M15=D1,M30=W1,H1=W1,H4=MN1,D1=MN1,W1=MN1
- Accessible Value Varieties:
- OCLH: Open, Shut, Low, Excessive common.
- MEDIANco: Median of Shut and Open.
- MEDIANhl: Median of Excessive and Low.
- TYPICAL: Typical value (Excessive + Low + Shut) / 3.
- WEIGHTEDo: Weighted value with emphasis on Open.
- WEIGHTEDc: Weighted value with emphasis on Shut.
- Get Ranges values in Buffers
- Max Previous Bars:
- Specify the utmost variety of previous bars to calculate ranges for.
- Helps management the indicator’s computational load.
- Refresh After Given Variety of Ticks:
- Set the variety of ticks after which the indicator ought to refresh.
- DrawLevels On/Off:
- Toggle to attract the calculated ranges on the chart.
- Will be turned off if solely buffer values are wanted for EAs, decreasing chart litter.
- Draw Finish Of Interval:
- Draw vertical strains on the finish of every greater timeframe interval.
- Helps visualize the beginning and finish of upper timeframe bars, aiding in multi-timeframe evaluation.
Finest Trades:
Indicator default settings are finest for H1. For smaller timeframes like M5,M15 you will have to make StartPips so much smaller. As a result of smaller timeframes could have smaller level distances.
So to attract the strains extra appropriately. Use crosshairs device to determine the most effective distances.
Volatility ought to be good. Normally for pairs which have market open.
Anticipate value to cross Mid Line. After which throughout subsequent few bars, value ought to cross the Purchase or Promote Begin Line. A robust quantity candle is preferrable. (get hooked up VolumeCandles to detect good volumes)
Guarantee that value hasn’t gone too far in breakout bar and crossed a number of ranges. As a result of actually lengthy bars may then have a retracement or enter a variety. So watch out:
All the time commerce in path of total greater timeframe pattern.
If scalping, watch for value to cross Purchase/Cease Finish ranges. After which place a trailing cease. Positively shut by Warning OB/OS or at max by Hazard OB/OS.
Place a cease loss close to Mid line. And Hold take income at the least 1.5-2 occasions Cease Loss. If value is shifting properly, maintain shifting your Take Revenue. If value looks as if it’s ranging, then shut commerce early. And by no means be too grasping 🙂
Instance:
Right here, begin commerce close to the Promote Begin Degree (crimson line) proven with arrow. Cease loss above Mid Line (orange) or above the earlier excessive.
Then across the half the place value begins to decelerate and shaped a pin-bar, it might be good to take at the least some TP.
And Trailing cease might proceed additional. Conserving this a lot TP will be certain that even if in case you have some shedding trades, you’ll nonetheless have extra Earnings total.
Enter Parameters
- Prefix : Prefix for object names utilized by the indicator.
- ChartPeriodStr : String to outline greater timeframes for the present timeframe.
- PriceType : Sort of value to make use of for calculations (enumerated kind).
- MaxPastBars : Most variety of previous bars to calculate.
- RefreshAfterTicks : Variety of ticks after which the indicator ought to refresh.
- StartPips : Variety of pips to begin degree calculations.
- InnerPips : Inside pips for extra ranges.
- DrawLevels : Boolean to toggle the drawing of ranges on the chart.
- BeginningEndOfPeriod : Boolean to attract vertical strains initially and finish of upper timeframe intervals.
- CenterColor : Shade for the middle degree line.
- BullStartColor : Shade for the beginning of bullish ranges.
- BearStartColor : Shade for the beginning of bearish ranges.
- HighColor : Shade for prime ranges.
- LowColor : Shade for low ranges.
- CenterSize : Width of the middle degree line.
- HighLowSize : Width of the excessive and low degree strains.
Buffer Values
The indicator makes use of a number of buffers to retailer calculated values:
- HIGH[] : Excessive costs.
- LOW[] : Low costs.
- OPEN[] : Open costs.
- CLOSE[] : Shut costs.
- MID[] : Calculated median costs primarily based on the chosen PriceType .
- HI1[] to HI5[] : Varied excessive ranges indicating overbought circumstances.
- LO1[] to LO5[] : Varied low ranges indicating oversold circumstances.
Overbought/Oversold Ranges:
The indicator defines numerous ranges to establish potential market circumstances:
- HI1 BUY START: Signifies the start line of a possible shopping for alternative.
- HI2 BUY END: Marks the tip level of the shopping for alternative.
- HI3 REV HIGH: Represents a excessive reversal level.
- HI4 WARNING OB: Indicators a warning that the market is approaching overbought circumstances.
- HI5 DANGER OB: Signifies a harmful overbought situation, suggesting excessive warning or potential for reversal.
Value Varieties Calculations:
The Golden MA Indicator affords numerous value calculation strategies. This is how every value kind is calculated:
- OCLH: Common of Open, Shut, Low, and Excessive costs.Calculation: (OPEN+CLOSE+LOW+HIGH)/4(OPEN + CLOSE + LOW + HIGH) / 4(OPEN+CLOSE+LOW+HIGH)/4
- MEDIANco: Common of Shut and Open costs.Calculation: (CLOSE+OPEN)/2(CLOSE + OPEN) / 2(CLOSE+OPEN)/2
- MEDIANhl: Common of Excessive and Low costs.Calculation: (HIGH+LOW)/2(HIGH + LOW) / 2(HIGH+LOW)/2
- TYPICAL: Common of Excessive, Low, and Shut costs.Calculation: (HIGH+LOW+CLOSE)/3(HIGH + LOW + CLOSE) / 3(HIGH+LOW+CLOSE)/3
- WEIGHTEDo: Weighted common giving extra weight to the Open value.Calculation: (HIGH+LOW+2×OPEN)/4(HIGH + LOW + 2 xOPEN) / 4(HIGH+LOW+2×OPEN)/4
- WEIGHTEDc: Weighted common giving extra weight to the Shut value.Calculation: (HIGH+LOW+2×CLOSE)/4(HIGH + LOW + 2 xCLOSE) / 4(HIGH+LOW+2×CLOSE)/4
Last Notes:
This indicator doesn’t carry out properly for a sluggish sideways ranging market. So watch out. Higher to make use of foreign exchange core pairs.
Preferrred occasions to commerce might be good volatility markets. Watch out throughout information occasions. And cautious when promote it uneven or whipsawing.
