MBFX Timing v2
The MBFX Timing indicator is a part of the well-known forex “MOSTAFA BELKHAYATE” system.
In fact, MBFX Timing indicator could be compared to a classic stochastic oscillator. It works on a similar principle.
How to trade with the MBFX Timing Indicator?
Look for BUY opportunities when:
MBFX Timing indicator reaches the oversold zone (low levels of the scale).
Late confirmation is line color change to yellow.
Look for SELL opportunities when:
MBFX Timing indicator reaches the overbought zone (high levels of the scale).
Late confirmation is line color change to yellow.
This version 2 seems to be the most comparable to the original strategy than the other older MBFX timing indicator version posted in the library. People would like to trade on the same principle than the Belkhayate system should use this one.
//PRC_MBFX timing 2 | indicator
//06.05.2020
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 version
// --- settings
Len = 7
Filter = 0.0
// --- end of settings
li224=0
if (ld8 = 0.0) then
ld8 = 1.0
ld16 = 0.0
if (Len - 1 >= 5) then
ld0 = Len - 1.0
else
ld0 = 5.0
endif
ld80 = 100.0 * ((High[li224] + Low[li224] + Close[li224]) / 3.0)
ld96 = 3.0 / (Len + 2.0)
ld104 = 1.0 - ld96
else
if (ld0 <= ld8) then
ld8 = ld0 + 1.0
else
ld8 = ld8+1.0
endif
ld88 = ld80
ld80 = 100.0 * ((High[li224] + Low[li224] + Close[li224]) / 3.0)
ld32 = ld80 - ld88
ld112 = ld104 * ld112 + ld96 * ld32
ld120 = ld96 * ld112 + ld104 * ld120
ld40 = 1.5 * ld112 - ld120 / 2.0
ld128 = ld104 * ld128 + ld96 * ld40
ld208 = ld96 * ld128 + ld104 * ld208
ld48 = 1.5 * ld128 - ld208 / 2.0
ld136 = ld104 * ld136 + ld96 * ld48
ld152 = ld96 * ld136 + ld104 * ld152
ld56 = 1.5 * ld136 - ld152 / 2.0
ld160 = ld104 * ld160 + ld96 * Abs(ld32)
ld168 = ld96 * ld160 + ld104 * ld168
ld64 = 1.5 * ld160 - ld168 / 2.0
ld176 = ld104 * ld176 + ld96 * ld64
ld184 = ld96 * ld176 + ld104 * ld184
ld144 = 1.5 * ld176 - ld184 / 2.0
ld192 = ld104 * ld192 + ld96 * ld144
ld200 = ld96 * ld192 + ld104 * ld200
ld72 = 1.5 * ld192 - ld200 / 2.0
if (ld0 >= ld8 and ld80 <> ld88) then
ld16 = 1.0
endif
if (ld0 = ld8 and ld16 = 0.0) then
ld8 = 0.0
endif
endif
if (ld0 < ld8 and ld72 > 0.0000000001) then
ld24 = 50.0 * (ld56 / ld72 + 1.0)
if (ld24 > 100.0) then
ld24 = 100.0
endif
if (ld24 < 0.0) then
ld24 = 0.0
endif
else
ld24 = 50.0
endif
if (ld24>ld24[1]- Filter) then
dirbar=1
r=0
g=128
endif
if (ld24<ld24[1]+Filter) then
dirbar=-1
r=255
g=165
endif
if (ld24=ld24[1]+Filter) then
dirbar=0
endif
if dirbar<>dirbar[1] then
r=255
g=255
endif
return ld24 coloured(r,g,0) style(line,2) as "MBFX timing",70 coloured(168,168,168) style(dottedline), 30 coloured(168,168,168) style(dottedline), 50 coloured(168,168,168) style(dottedline)
Comments
You must be logged in to post a comment.
Hello would someone be willing to release a scan code for this? that would be helpful as I sent out a programming request to support. When the oscillator is above 70 and is yellow for shorting and when the oscillator is below 30 and green for buying? Thanks.
Not optimised values. Simply tried Len = 5 (well 5 days in the week and all that). Buy on Cross Over of Buy Line 2 and Cross Under of Sell Line 2. Daily mean reverting currencies: USD/CHF, GBP/USD, USD/JPY, even the Dow (but not Dax, FTSE, Silver or Brent LCO). 2 yrs data. Spread = 4. Not bad. Low Drawdown too. eg: Dropbox USD/JPY, tiny.cc/ijdsoz Click "No thanks continue..."
Just an update to match the buy and sell lines to the original indicator: (code didn't appear in Add PRT code Chrome browser?) return ld24 coloured(r,g,0) style(line,2) as "MBFX timing", 10 coloured(0,255,0) style(dottedline,2) as "Buy Line 2", 30 coloured(0,255,0) style(dottedline,2) as "Buy Line 1", 50 coloured(100,100,100) style(dottedline,2) as "Mid Line", 70 coloured(255, 0, 0) style(dottedline,2) as "Sell Line 1", 90 coloured(255, 0, 0) style(dottedline,2) as "Sell Line 2"
I just figured it out thanks!