Looking For Accurate Trendline/Trend Zone Indicator That My EA Can Measure
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Any recommendations? I had tried Demark Lines but they didnt seem very accurate and the trendlines where all over the place. What do you all use? Thanks in advance this community is awesome!
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@laneciar Try "SHI channel true" indicator. I'm working with it right at the moment. Very useful. Unfortunately it has only one buffer, but a very good one, it actually shows when to enter the trade. Used in combination with other conditions and data, to get if it is a sell or a buy, it is very good. What do you use mt4 or mt5?
For the mt5 there is a "NB" version on the mt5 codebase with more buffers.
For mt4 I have something modified, with middleline, slope and distance but couldn't get the Upperline and the lower line into buffer.Also, in a EA, from my experience, the entry does matter, but then it is also important what size of stop loss, exit strategy, trailing no trailing, scaling, etc.
So if an EA is loosing, but you have 50 percent win rate, or more... it's something else, not the entry. Tweak and tweak.
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@ambrogio Wow, thanks, it's true I'm not too familiarized with getting signals from indicators as objects. Tried to do it few times but with no success, so I relied more on buffers, and adding buffers into the mt4.
I attach the modified version (mt4), if it helps.
Having the slope and the middle line is really good, because if buffer 0 is above middle line, then it's obviously a sell, and vice versa. More slope is strong trend, yet some EA could be developed for range, specifically. Depends on strategy.
The last two buffers don't work, if someone can get the two trend lines to work, and post here an updated version from this indicator, that would be awesome.
Until then, your solution is perfect, thanks.For the uploaded indicator:
Buf (0) is the entry
Buf (1) channel size
Buf (2) slope
Buf (3) middle line
Buf (4) should be Upper trend line, doesn't work
Buf (5) should be Lower line, doesn't work. -
@ambrogio THank you so much I will try this out!!!!
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@cpxiom Thank you as well your information has really helped me!
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@ambrogio For some reason when I back test the bot refuses to buy or sell even when the bid/ask prices surpasses TL1 or TL2, do I need to set the candle ID to 0, 1, 2 or what do you recommend?
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@laneciar I had the same problem. The Ma 5 being on candle close, rarely crossed, so I put it on candle high and candle low, it was a bit better, but still didn't take all the entries. Don't know why... that's why I like to rely more on the buffers. Try the indicator I uploaded, it has slope and middle line, ...for one strategy I use the red buffer for entry. If you look with visual, you can see it's making a red circle. Try to combine with other indicators maybe, for entry / exit, and use the SHI for trends, this depends only on your imagination and other indicators you may know of. It would be great to be able to have those lines in buffers. Maybe someone can do that. I will try to remodel something from the mt5 version, but I am not a programmer.
Still it's pretty hard to have a profitable EA. In my experience I saw I have to boil down to specific timeframes, and specific Instrument. That's what I am doing lately. See where I have best results, and then tweak for that instrument.
In the beginning I believed I could make a general EA for anything. Maybe it's possible, but spreads are different, the decimals are different, pips are different, etc. Generally I tried to work with percentage to go around these problems, but some specifics are needed as I see.
I had some profitable results, but only on the 15 min, and one instrument, etc. It is weird, because There are highly correlated instruments... like indexes. US30, US500 for example. And I get different results... So then I doubt the EA Also, if the profit goes up, then back again on minus, and then ends in profit... that's still not reliable. -
Try Ask> TL2, but I also noticed that this indicator flashes, it may be that it has problems. Perhaps there is something better on the net
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@cpxiom Okay ill try the buffer method thank you!
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@ambrogio Hello, thanks. I did try with Market properties, but still misses some entries. I saw also that it flashes, and mostly so when I have more indicators in one EA.
I use this indicator for manual trading and it doesn't disappear just like that
in real time. Maybe because of the backtester? -
@ambrogio I will definitely look for some, I have came across any good ones lately but thank you!
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@cpxiom Would you by chance no how to make it where the computer only buys when the slop is increasing, whereas the computer sells if the slop is decreasing?
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@laneciar Yes, here some screenshots. But got some errors with the buffer 3 (middle line) I guess.
Now I figured to make two bots. One that only sells, one that only buys.
Will look into the code of the indicator more in depth, but will take some time. Maybe tomorrow.Buffer 2 is the slope. Above some value... depends on the currency. That's why I said it seems that I have to be more specific on the instrument, and so on. When backtesting, if you give visual mode, then skip till the end, but then you scroll with the mouse, it takes you trough it and you can see the angles. The size and slope is noted up in the left corner of the chart.
I have mac so I have to do it like this. Don't know with windows. The mt5 gave visualisation simply... but my broker has mt4.
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@cpxiom How would you get the value compared to the slope? Could you do something like, "if the slope is positive, then trend would be upwards", and vice versa?
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@laneciar That value is because of some angle. If it is more steep upwards, then the value increases on the positive. If it is more steep downward then the value is negative.
So If buffer 2 is above value +2 for ex, (3, 4, depends on the currency... I saw 0.3, etc).
And if buffer 2 is below value -2.
Then buy or sell.
You make two columns of chains of conditions. One for buy, one for sell. -
@cpxiom Okay thank you.. what is the equation to calculate the slope of the specific currency? I may be able to go from there. Also we can talk on the forums if you want to continue, or we could use another platform if it is easier like discord?
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@laneciar I use no equation... Don't know... If there is one I would like to know also
I just look up at the corner of the chart where there is an output from the indicator. And see what value has a good slope, on that particular currency and timeframe.
I am also a newbie with this, I don't know too much.
There are some videos on you tube if you are just starting out, they give a good idea for the basics. -
@cpxiom Well i actually did find a indicator that measures slop with a line(slope direction line), i used a large period since I will go off the trend of H4, it shows a blue line when uptrend and a red when down trend. I just cant figure out how to pass it when the line is either blue or red.. and indicator appear never works for me.
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@laneciar If it's another indicator I don't know. It should have buffers to output those values. If it has buffers, the steps to do the EA are the same.
I use SHI for manual trading.
Don't know if the lines from the two indicators coincide, because SHI uses fractals to define the trends.
