Hi Admin and fellow members
Please help me with this indicator. It's a combination of 5 indicators to make 1 indicator. It can be turned into EA later but we will discuss the features the EA version will have.
Trend indicators: Zigzag, Forexmassprofit.
Signal indicators : Profx05, RSI, Stochastic oscillator.
How it will work for BUY:
When the trend indicator is UP trend, then the signal indicator cross BELOW my choice level, there should be UP arrow (Buy) alert with sound.
How it will work for SELL:
When the trend indicator is DOWN trend, then the signal indicator cross ABOVE my choice level, there should be DOWN arrow (Sell) alert with sound.
Note: All signal cross ABOVE / BELOW my choice level is valid after bar close and not while bar is still forming.
I have attached an EA that was previously done based on this explanation but this time I want to add more indicator to Trend and Signal.
When you look at the sample EA, you will see how stochastic oscillator properties were done to allow personal settings. I will like it to remain like that and also be for Zigzag and RSI.
Still on the stochastic, you will also see "stoch_value_buy" & "stoch_signal_buy" (the stochs were just separated. No need to separate it again. It can be "stochs_Value_or_signal_buy" which is my choice level that if either value or signal cross Below My Choice level is a BUY trade.
You will also see "stoch_value_sell" & "stoch_signal_sell". No need to separate it again. It can be "stochs_Value_or_signal_sell" which is my choice level that if either value or signal cross ABOVE My Choice level is a SELL trade.
This means we will have something like:
"stochs_Value_or_signal_buy" - 30
"stochs_Value_or_signal_sell" - 70
"RSI_buy" - 30
"RSI_sell" -70
"Profx05_buy" - 30
"Profx05_buy" - 70
Below are the parameters :
Trend: - All / Any ( this means that if I choose "ALL", and Zigzag is TRUE ,Forexmassprofit is TRUE, it means they must always agree on a particular trend to be valid BUT if I choose "ANY" it means Zigzag and forexmassprofit can be independent of each other.
Zigzag - True / false
Forexmassprofit - True / false
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Action signal - All / Any ( this means that if I choose "ALL", Signal indicators that are "TRUE" must always agree on ONE PARTICULAR BAR to be valid to work with Trend BUT if I choose "ANY" it means Profx05, RSI, Stochastic can be independent of each other to work with TREND
Profx05 - True / false
Stochastic oscillator - True / false
RSI - True / false
The EA here is working and I encourage others to download it
Thanks.
Linkback: https://www.forex.zone/indicator-modifications/16/5-in-1-indicator/2560/