Cowabunga system MT4 indicator

[Viso]

Originally Posted by JeffNLisa

If you have a MT4 generic demo account, the folder you want will be in "Program Files" and it will be called "MetaTrader 4". If you got your MT4 from a specific broker, then in "Program Files" there should be a folder that is named after your broker. If that's the case, then substitute that folder's name for "MetaTrader 4" in the following:

Locate the
//metatrader 4/experts/indicators
folder and put "Cowabunga- any pair.mq4" in to that folder

Then locate
//metatrader 4/templates
folder and put "Cowabunga_template.tpl" into that folder

Then close MT4 if you still have it open, and restart it.

Once you have your chart open, click "Charts" hover over "Template" and click on "Cowabunga_template".

If I'm not mistaken, the template loads the indicator automatically, but you can load just the indicator seperately by clicking "Insert" hover over "Indicators" hover over "Custom" and then click on "Cowabunga- any pair" and then click "OK"

Jeff

Thank you, much appreciated.

[andyk]

Jeff

You're right about the 'no signal'. I was looking at the wrong chart. I'll have a look through code and see if I can figure this out. I've confused us both vis a vis the 4hr requirements - theres no MACD, but stochs, RSI (14) and EMA 5/10. I still can't fathom the rule for the trend though. Do we have to wait until EMA cross up + stochs are heading up + RSI >50. If only 2 conditions are met are we still in a downtrend. This might lead to times when we are in no trend, and would also negate the ema cross.

For example,
If EMA's cross up but RSI<50 we are still in a downtrend ? If RSI then goes above 50 but next candle comes below 50 without EMAs crossing down where are we?

Perhaps we should say, regardless of EMA crosses, if EMA5 > EMA 10, and stochs are heading up, and RSI >50 we're in uptrend. The converse for downtrend, and if any of the 3 conditions doesn't match, we have no trend.

Thoughts anybody ?

OK I think I see it now. If we're talking about a lack of the second BUY signal on 7th November - when I look at the 15min stoch signal line, it is actually fractionally lower on the more recent candle so although stoch has crossed up, the signal is still moving down very slightly.(I get it at 23.6327 followed by 23.1750 on NorthFinance demo).

Maybe we should change the condition to 'both stochs pointing up, or a stoch cross' on the assumption that a cross up is just as bullish. I can do this if people want and repost the indicator.

[JeffNLisa]

Viso - YW!

andyk - Yes, you're right in MACD is NOT a req for the trend. My mistake. It's RSI I forgot.

Perhaps we should say, regardless of EMA crosses, if EMA5 > EMA 10, and stochs are heading up, and RSI >50 we're in uptrend. The converse for downtrend, and if any of the 3 conditions doesn't match, we have no trend.

Yes, exactly.

I think the problem with the indicator is that if the RSI and Stoch requirement are not met on the SAME BAR as the 5EMA cross, it misses the trend change altogether. With NO ill will toward pipalot for making it!

And yes, if it can be made so that ANY TIME that all 3 indicators are in line, it changes the trend, then I think we'll have exactly what we want. I don't have a clue how to program that, if you do then yes please.

Stochs I do not fully understand, and don't know what goes into the two lines that you see. But I do recall someone asking about whether BOTH lines must be trending, or whether BOTH lines must be out of overbought/sold territory. I seem to recall that BigPippin or PipSurfer said that only one of the two stoch lines must agree with all other indicators.

Don't know if that helps anything.

But yes, if you can make it so it indicates trend ANY TIME the three indicators agree even if they don't all happen on the same bar, that would be good, I think.

Thanks,

Jeff

[aexhg]

Yes. If you remove the requirement in the code for both the stochastic signal within the 15minute block. It captures the buy signal fine. There are quite a few other signals that are missed too but altering the code in this way allows them to be captured as in the Cowabunga blog.

[andyk]

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

[jordie8701]

Hi Andy,

Many thanks for putting the indicator up for grabs.. I have gone through some instructions on how to apply the indicator to my MT4. It is appearing in the expert advisors section (bottom left), but nothing is happening when I 'attach to a chart'. Do you have any idea why this might be? Any thoughts would be helpful.

Cheers

Jords

[andyk]

Jords

Can't remember which file I zipped - it may need compiling again. Try opening the metaquotes editor (press the yellow diamond next to new orders in Metatrader and load up the cowabunga V2 file and press compile). You may then need to restart metatrader and reattach it to your chart.

You should then just be able to double click on the V2 file in the expert window (bottom left) after opening a new chart. Try this and let me know what you get......

Andy

PS Anyone interested in an optimised 40-100 pips a day 'James' indicator (a different post but I thought I'd ask the cowabunga brotherhood)

Edit... Jords - just re-read your post - is it in the indicators - not expert advisors - directory. It needs to be in indicators. Just a thought.

[Timebandit]

Hi all, thanks for creating and sharing these great templates and indicators. Just wondered if anyone has managed to use Cowabunga-any-pair and cowabunga-templates on a PC using Windows Vista.
I've loaded them on 2 PC's with Windows XP with no problems but I'm unable to load successfully on a machine using Vista. When I load them on Vista machine RSI and OsMA charts are missing and I don't know how to manually loadOsMA. any advise would be appreciated

Timebandit

[ThE_KiLLeR]

timebandit,

try right click on metatrader and then disable all visual vista options,
I had a similar problem with the saxo bank plataform

[JeffNLisa]

Originally Posted by andyk

PS Anyone interested in an optimised 40-100 pips a day 'James' indicator (a different post but I thought I'd ask the cowabunga brotherhood)

Yes, I am. I haven't followed that system at all, but I spend all day in front of the charts already, couldn't hurt to test it.

So yea, if you optimised an indicator for it, I'd like to see it--

Thanks,

Jeff