Quote:
OK
Heres my updated indicator.
1. By default, the trend is set by whether 4Hr EMA 5 is above or below 4Hr EMA 10. This is the same as simply looking for a cross and the trend is always either up or down - same as the cowabunga blog
2. Changing 'Strict_4Hr_Trend' on the indicator settings to TRUE will mean we are only in an uptrend if EMA 5>EMA10 and RSI(9) > 50 and stoch is above signal line (this generally means stochs are trending up but allows us some 'wobbles' on the way which would otherwise cause the indicator to negate the trend and hardly give us any signals). Opposite for downtrend. This means there are times we have NO TREND - no line is drawn on the 15min chart.
3. Visually, I prefer up trends to be drawn under the price - like support, and downtrends drawn above the price so this is different in this version.
4. 15minute stochs must be trending up OR stoch has crossed signal line. This captures some trades that were in the blog but that the indicator missed before.
Enjoy
Andy
|
Great stuff Andy - many thanks. You clearly know your way round MT4 programing - which I dont :-) . Something I have inquired about previously on this thread is whether an audio alarm can be set in MT when a trade signal is activated - is this possible?
Also can I just check we are still using EMAs on close? There was a discussion a while ago in whether it was better to set the 10EMA to open.
Thanks for your help.
Houmous