I NEED TO MAKE INDICATORE PLS HELP

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DEAR FREINDS


HERE ANYONE KNOW HOW TO MAKE INDICATOR I AM MENTIONING SOME CONDITION PLS MAKE THIS FOR METATRADER 4 MY MAIL ID IS rajaswamym@yah00,com



IF POSSIBLE PLS REVERT ME BACK



Day Trading Technique using Bollinger Bands

Procedure for buy/long trade:


In this strategy we take three candles into consideration before commencing any trade...

  • Primary candle
  • Secondary candle (Confirmation Candle)
  • Trade candle

  • When markets fall, many candles touch lower bollinger band continuously. Primary candle is the last candlestick which touches the lower band during its fall. It must be noted that the colour of the primary candle is NOT important, can be green or red.
  • Secondary candle is the one next to primary candle. It must be a bull candle and close above the previous one. Very important to note that the secondary candle do not touch the lower band. All these 3 features indicate that the stock is tending higher taking strong support at bottom.
  • Trade candle - Initiate the buy/long trade and place stop loss just below the low of first candle.

Note: At times continuously 4 to 5 candles touch the lower bollinger band. Please note that the last candle which touches the lower band must be taken into consideration as primary candle

  • In this method, as the stoploss is very small, target can be same or double the stoploss.
  • The above trade can be confirmed with the help of stochastic indicator as this too is a trend reversal indicator. Make sure %K faces upwards and starts traveling from 20 towards 100

Day Trading Technique using Bollinger Bands

Procedure for buy/long trade:


In this strategy we take three candles into consideration before commencing any trade...

  • Primary candle
  • Secondary candle (Confirmation Candle)
  • Trade candle

  • When markets fall, many candles touch lower bollinger band continuously. Primary candle is the last candlestick which touches the lower band during its fall. It must be noted that the colour of the primary candle is NOT important, can be green or red.
  • Secondary candle is the one next to primary candle. It must be a bull candle and close above the previous one. Very important to note that the secondary candle do not touch the lower band. All these 3 features indicate that the stock is tending higher taking strong support at bottom.
  • Trade candle - Initiate the buy/long trade and place stoploss just below the low of first candle.

Note: At times continuously 4 to 5 candles touch the lower bollinger band. Please note that the last candle which touches the lower band must be taken into consideration as primary candle

  • In this method, as the stoploss is very small, target can be same or double the stoploss.
  • The above trade can be confirmed with the help of stochastic indicator as this too is a trend reversal indicator. Make sure %K faces upwards and starts travelling
  • from 20 towards 100








Procedure for Short selling:


  • Primary candle is the last candle which touches the upper bollinger band. Do NOT take the colour of the primary candle in to consideration.
  • Secondary candle must be a bear candle and close below the previous one representing the trend reversal. As said before, the confirmation candle is not supposed to touch the upper band.
  • Trade candle - Sell initiation to be taken at the start of third candle with stoploss just above the high of primary candle.

Trade confirmation: Stochastic oscillator must face downwards and start traveling from 80 towards 0

This technique can be applied to Equities, commodities, Forex markets for intraday, short term and long term trades irrespective of markets and time frames.

In the whole methodology, Confirmation candle (Secondary candle) is very important step to be followed; which decides the trend. In many cases this candle does not close completely above the previous one (in buy case) or does not close completely below the previous one (in sell case). Never initiate trade in such case as it indicates, markets are not in a mood to change its trend.



 
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