The program allocates points to a running total when the conditions of an indicator are reached
Scores are between 1-5 as follows:
1 – Ranging Market. Do not trade
2 – Trend may be forming. Do not trade
3 – Early stages of trend. Monitor
4 – Trending Market. Trade
5 – Strong Trending Market. Trade
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 |
// Declaration of Indicators Indicator2 = ADX[14] Indicator3 = DIplus[14](close) Indicator4 = DIminus[14](close) Indicator5 = SAR[0.02,0.02,0.2] Indicator6 = Average[10](close) Indicator7 = ExponentialAverage[30](close) Indicator8 = RSI[14](close) //Events Event1 = Indicator2 >= 15 Event2 = close > Indicator5 //Price above SAR Event3 = Indicator3 > Indicator4 //DI+ above DI- Event4 = Indicator6 > Indicator7 //10SMA above 30EMA Event5 = indicator2 >= 20 //ADX above 20 Event6 = indicator2 >= 25 //ADX above 25 Event7 = indicator8 <70 //RSI below 70 Event8 = close < Indicator5 //Price below SAR Event9 = Indicator3 < Indicator4 //DI+ below DI- Event10 = Indicator6 < Indicator7 //10SMA below 30EMA Event11 = Indicator8 >30 //RSI above 30 // Detection of bullish and bearish engulfing lines IF Event7 AND Event6 AND Event5 AND Event4 AND Event3 AND Event2 AND Event1 THEN Score = 5 ELSIF Event7 AND Event5 AND Event4 AND Event3 AND Event2 AND Event1 THEN Score = 4 ELSIF (Event7 AND Event4 AND Event3 AND Event2 AND Event1) THEN Score = 3 ELSIF Event7 AND Event3 AND Event2 AND Event1 THEN Score = 2 ELSIF Event11 AND Event6 AND Event5 AND Event10 AND Event9 AND Event8 AND Event1 THEN Score = 5 ELSIF Event11 AND Event5 AND Event10 AND Event9 AND Event8 AND Event1 THEN Score = 4 ELSIF Event11 AND Event10 AND Event9 AND Event8 AND Event1 THEN Score = 3 ELSIF Event11 AND Event9 AND Event8 AND Event1 THEN Score = 2 ELSIF Event1 THEN Score = 1 ELSE Score = 0 ENDIF RETURN Score |
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I’m afraid that the graph don’t correspond to the indicator because it seems there is no “score” on graph
Thanks
Zilliq
Thanks for pointing that out. I’ve linked a screenshot which shows the indicator. Note that it applies to both long and short trades. The trade trigger being a score of 4 or 5
Screen Shot 2016-03-20 at 23.18.29.png
Wow great thanks … looks good!
Do I set the colour shades up from within the indicator ‘spanner options’ and by inserting a horizontal line at 1,2,3,4 and 5 first then doing colours at those levels?
Many Thanks
GraHal
Thanks for your comments and yes, that is exactly how I set up the colour levels.
Thanks I have added this in my watch list. Has anyone tried it yet ? Does it work on currencies and indices ?