MA_Candles?

Beginner Questions
1

I use an indicator called MA_Candles on a 5 min chart, where
MA1 =5 and MA2=8. I have set blue for the color of a rising market and red for a falling market.

Can some one please explain the math that is involved in making these calculations.

Thanks

2

Hello,

You need to post a chart showing us your indicator.

From the (very) little detail in your post: I’m assuming that the indicator is based on some sort of MA (‘Moving Average’) crossover system that simply changes the color of the bars themselves indicating whether you should be buying or selling. In addition: the indicator could be based on any ‘flavour’ of moving average e.g. an SMA (‘Simple Moving Average’) or an EMA (‘Exponential Moving Average’) or a WMA (‘Weighted Moving Average’). No matter on which ‘flavour’ of moving average it’s based on (if I’m right on what I THINK your indicator is based on): these are pure mathematical calculations and explanations on how the different moving averages are calculated are posted LIBERALLY on the Internet.

Regards,

Dale.

3

Looking at the code for a similar indi, I believe its based on the slope of the ma for each time frame( you you can tell by just looking at it) and then displaying a color for positive slope or negative slope.

mtf ma noloag.jpg700×368 23.9 KB

4

Sounds good to me!!!

That’s a very interesting indicator you have there. I’m assuming that you’d wait for all of the dots to be the same color and then initiate the trade e.g. daily turns light blue, then the 4 hour turns light blue, and then initiate the trade when the 1 hour turns light blue??? Something like that???

Regards,

Dale.

5

In theory maybe, but what happens if you wait until 4hr line up with the smaller TF, it might be too late!:stuck_out_tongue:
what I see it being used for is if a trade was initiated on smaller TF you would be able to see if its time to exit or maybe stay a little longer if the bigger TF are lining up with the trade.

Regards
Jado

6

I was just thinking back to my ‘Parabolic SAR days’ i.e. you would wait for a (the first) signal to be generated on the longer timeframe (as the longer timeframe SHOULD indicate the direction of the major trend) and then only initiate trades in the same direction on the shorter timeframe (and with your indicator you would in effect be buying or selling pullbacks to the moving averages I would imagine). I suppose there are quite a few ways that one could use an indicator such as yours.

Regards,

Dale.

7

Ahhh, I didn’t think of it that way:D
Thanks

8

ma candle???
sounds like heiken ashi

9

Thanks for all your interest in my question.

#1 I don’t how how to post a chart. If you will explain it to me I will be happy to do so… I have found a similiar chart on this site

forex-tsd.com/attachments/a/53834-ma-candles-ma.gif

#2 I can’t remember how I got this indicator but I think it might have been here.

~ Forex Arena

#3 I use the indicator on a few different TF’s but they are in no way connected to each other. No light blue etc.

I have an idea for using this indicator for an Expert Advisor but I am totally incapable of writing one. Does anyone know of a way for me to have one written for me?

Thanks again

10

ok that one seems to take the slope of the MA to determine if its heading up or down and color them accordingly.
for an EA you can hire programmer and spend $, some do it for free, or you can use EA builder website, just Google it.
I personally used Expert Advisor Builder for MetaTrader 4 to build my EA but it needed some modification and I ended up learning basic programing skill, and now I’m signing up for programming class in my school.
it might be a good idea to learn it your self, MQL4 Tutorial
Regards
Jado

oh and for the attachment. when you want to post a reply just scroll down and click manage attachments and you get a popup window

attach.jpg700×404 41.4 KB

11

Ref: Jado 911

Thanks for your advice but I’m afraid that learning, even the basics of writing an Expert Adviser, is well beyond my very meager computing skills.

I could spend a little $$$ but the free ones sound nice!! How do you think I could contact them?

Thanks again

12

its is up to you, you can find them on forex forums Im not sure if there are any here… I think there is one here he goes by Hellogoodby
http://forums.babypips.com/expert-advisors-automated-trading/28636-got-good-trading-strategy-want-ea.html

Good luck