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Indicator obtainable right here without cost:
https://www.mql5.com/en/market/product/119515/
Just 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 will want to alter StartPips to decrease worth to get constant strains. As a result of decrease timeframes can 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 Obtainable Worth Sorts: 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. Might be turned off if solely buffer values are wanted for EAs, lowering chart muddle. Draw Finish Of Interval: Draw vertical strains on the finish of every larger 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 want to make StartPips rather a lot smaller. As a result of smaller timeframes can have smaller level distances.
So to attract the strains extra appropriately. Use crosshairs software to determine one of the best distances.
Volatility needs to be good. Normally for pairs which have market open.
Look ahead to value to cross Mid Line. After which throughout subsequent few bars, value ought to cross the Purchase or Promote Begin Line. A powerful quantity candle is preferrable. (get connected VolumeCandles to detect good volumes)
Be sure that value hasn’t gone too far in breakout bar and crossed a number of ranges. As a result of actually lengthy bars would possibly then have a retracement or enter a spread. So watch out:
All the time commerce in route of total larger timeframe pattern.
If scalping, look ahead to 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 Maintain take income at the least 1.5-2 occasions Cease Loss. If value is shifting effectively, preserve 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 fashioned a pin-bar, it will be good to take at the least some TP.
And Trailing cease may proceed additional. Protecting this a lot TP will be sure that even when 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 larger 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 stage calculations. InnerPips : Inside pips for added ranges. DrawLevels : Boolean to toggle the drawing of ranges on the chart. BeginningEndOfPeriod : Boolean to attract vertical strains at first and finish of upper timeframe intervals. CenterColor : Colour for the middle stage line. BullStartColor : Colour for the beginning of bullish ranges. BearStartColor : Colour for the beginning of bearish ranges. HighColor : Colour for top ranges. LowColor : Colour for low ranges. CenterSize : Width of the middle stage line. HighLowSize : Width of the excessive and low stage 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[] : Numerous excessive ranges indicating overbought situations. LO1[] to LO5[] : Numerous low ranges indicating oversold situations.
Overbought/Oversold Ranges:
The indicator defines varied ranges to determine potential market situations:
HI1 BUY START: Signifies the place to begin 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 situations. HI5 DANGER OB: Signifies a harmful overbought situation, suggesting excessive warning or potential for reversal.
Worth Sorts Calculations:
The Golden MA Indicator gives varied 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
Closing Notes:
This indicator doesn’t carry out effectively for a gradual sideways ranging market. So watch out. Higher to make use of foreign exchange core pairs.
Preferrred occasions to commerce will probably be good volatility markets. Watch out throughout information occasions. And cautious when promote it uneven or whipsawing.
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