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Custom Indicator

Discussion in 'General Forex Talk' started by ____________, Jan 2, 2008.

  1. ____________

    ____________ Private

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    What do you guys think about this indicator?
    I just finished the first beta version, I'm gonna use it to identify the market inertia, red means only sell, blue stay away, green only buy. I will be looking the indicator at a higher timeframe of where i'm trading, like.. I will look the daily or weekly chart, if its green I will be looking for buy in 4h.

    [​IMG]
     
    #1 ____________, Jan 2, 2008
    Last edited: Sep 12, 2011
  2. Hannan

    Hannan Recruit

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    Inertia Indicator

    Hi,

    I just looked at the chart n indicator. I am new to this forum. Anyway, I am curious about ur indicator... First thingy, color looks good ;)

    BTW, you are using 4H chart to pinpoint entry point, and daily or weekly chart to find trading opportunity, right? Please confirm.
     
  3. ____________

    ____________ Private

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    Hannan, I will look at D and W charts to identify where the market is going, and I'll look for entry points in the 4h charts ONLY in the direction D and W tells me. I will be doing some backtesting today, I think the indicator could works good for swing trading the 4h too. Like in this chart http://img27.picoodle.com/img/img27/4/1/3/f_Untitled2com_23f57ce.jpg
    The indicator in Daily turns red so i look for sell in 4h, a simple price below 55sma signal gives a good trade there, exit could be the indicator turning green in 4h, but as i said i will not use it for signals.
     
    #3 ____________, Jan 3, 2008
    Lasted edited by : Aug 15, 2015
  4. ____________

    ____________ Private

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    Code:
    http://img02.picoodle.com/img/img02/4/1/3/f_1m_0424c4f.gif
    http://img03.picoodle.com/img/img03/4/1/3/f_2m_610739d.gif
    I finished the "Power Meter", it measures the bullishness or bearishness of the market.
     
    #4 ____________, Jan 3, 2008
    Last edited: Sep 12, 2011
  5. Hannan

    Hannan Recruit

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    Back Testing Custom Indicator

    Hi,

    How did your backtesting being coming up? May you share the result with us?

    Thanks in advance.
     
  6. ____________

    ____________ Private

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    The automatic backtesting in mt4 is useless, I tried it but I had no real results, the trades doesnt follow the plan, but yesterday I backtested 7 months manually and it looks pretty good, without filtering signals I only found ONE fake signal, I will post some images of this first test later if you want to check it out.
     
    #6 ____________, Jan 5, 2008
    Last edited: Sep 12, 2011
  7. ____________

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    This are a few examples in major pairs.
    The signals used in the chart are only an 8 and 21 ema crossover in the 4h chart.
    ******************************************************
    EMA crossover down in 4h && daily indicator is red.
    [​IMG]
    http://www.imagehosting.com/out.php/i1488841_1.jpg
    Exit could be first ema crossover up, and daily indicator turns blue.
    ******************************************************
    EMA crossover up in 4h && daily indicator is green.
    [​IMG]
    http://www.imagehosting.com/out.php/i1488847_2.jpg
    Exit could be first ema crossover down, and daily indicator turns blue.
    ******************************************************
    EMA crossover up in 4h && daily indicator is green.
    [​IMG]
    http://www.imagehosting.com/out.php/i1488862_3.jpg
    Exit could be first ema crossover up, and daily indicator turns blue.
    ******************************************************
    Stop loss should be at last valey or peak, and should be trailed because sometimes it catchs big trends just at the beginning. Also I think it works better in bigger timeframes, but I don't feel confortable even testing long terms trading yet, because of the risk involved (higher sl).
     
    #7 ____________, Jan 5, 2008
    Last edited: Sep 12, 2011

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