Break Out Indicator or System

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Hi all,

Hope all here are doing good and i need to code a simple indicator to test a break out strategy and below i explained simple logic then need to be coded as indicator

1. Allow user to use custom input for number of bar need to be computed for indicator calculation.

2. Calculate the Highest High HH and Lowest Low LL of above input period.

3. Generate signals when current price breaks HH LL of input period ( Signal as Arrow prefered )

5. Calculating targets use factor 4x ( not forex ) of input period used above. For eg : if input is 3 period used then calculate 12 period HH LL as target plot ( Dots prefered )

6. Use opposite of HH LL value as stop point

I hope some one help me to code and test this wonderful indicator. GLGT to a

 
amarnath:
"this wonderful indicator"

What makes you think that this is an wonderful indicator? Do you have backtests to back that claim up?

 

Backtest!

Hi Maji,

Yes i tried some manual backtest based on it for futures commodities and its seems good as u know manual backtesting is time consuming and crumbersome one to make longterm backtest

 

Amarnath,

The logic is fairly simple to code it into an EA. However, I don't want to spend my time on a wild goose chase, unless it is the goose that lays the golden eggs. You have to convince me that it is a successful system before I will do it. Other members maybe kind enough to do it. However, you don't even post the settings that you have found it works, so why spend my time and develop an EA just to give it to you so that you can collect all those golden eggs?

 

I need it as Indicator

Dear Maji,

I need it to plot it as indicator for MT not need as EA

 

Hire a programmer, so you have something new to sell

 

ouchhhh

OUCCHHHH..that's hurt mate

some people just don't wanna share the golden eggs..they said " why buy cow when u can get milk for free"

j/k

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