ToR 1.02 - Trending or Ranging - page 13
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Hello Nittany 1
Before thanks for your good job for newbies like me on the Forex this type of indicators can give me trust on me.
Maybe you can help me, I trade whith chart 15M my indicator is CCI_Woodies_Lnx_v4 parameters is (CCI:34)(TCI:10)(per LSMA:25)(Trend:5) whith your version 1.20 witch parameters I have to setup for best synchronization ? excuse my english I' french...
A+
Hi nittany , can you explain more how to uses this indicator (ToR_1.20) ?
where is the best situation to buy and where is best sell signal from this indicator. More thanks if you explain too about trend friend Indic.
regardI don't trade in ranging markets, I like trending only. What I look for is a strong trending indication on as many timeframes as possible. It takes longer for a trend signal to spread to the longer timeframes if the move in the price action is shorter.
You can probably get by with ToR and stochastics on your charts if you're just starting out. The stochastics settings should be standard 8,3,3.
If you're trading on the 15 min for example you want the 15 min to show a strong trend in your desired direction plus on the shorter timeframes as well. Then check stochastics to see if it agrees, then trade in that direction.
Hello Nittany 1
Before thanks for your good job for newbies like me on the Forex this type of indicators can give me trust on me.
Maybe you can help me, I trade whith chart 15M my indicator is CCI_Woodies_Lnx_v4 parameters is (CCI:34)(TCI:10)(per LSMA:25)(Trend:5) whith your version 1.20 witch parameters I have to setup for best synchronization ? excuse my english I' french...
A+For the 15 min I would setup the CCI: 14 and the TCI: 6
What you want to look for is ToR indicating a trend in your desired direction, let's so for example a buy on the 1, 5 and 15 min timeframes if you are trading on the 15 min. At the very least, the 1 and the 5 min.
Using our example of a buy order, you want the CCI to indicate both CCI and TCI to be above zero and heading uphill.
Once you are in your order look for break levels. If CCI goes above 100 consider that your next exit signal. For example if you're in a buy, CCI breaks 100, then in the next 2-3 candles it closes below 100 then close your order. If CCI breaks 200 then use that as your level.
For sells you want trend down as indicated by ToR and CCI to be below zero.
If you want a Woodie's CCI that automatically adjusts to the same periods used in ToR 1.20, I modified a Woodie's to automatically change the periods according to timeframe. You can download it here:
https://www.mql5.com/en/forum/176411/page7
For the 15 min I would setup the CCI: 14 and the TCI: 6
What you want to look for is ToR indicating a trend in your desired direction, let's so for example a buy on the 1, 5 and 15 min timeframes if you are trading on the 15 min. At the very least, the 1 and the 5 min.
Using our example of a buy order, you want the CCI to indicate both CCI and TCI to be above zero and heading uphill.
Once you are in your order look for break levels. If CCI goes above 100 consider that your next exit signal. For example if you're in a buy, CCI breaks 100, then in the next 2-3 candles it closes below 100 then close your order. If CCI breaks 200 then use that as your level.
For sells you want trend down as indicated by ToR and CCI to be below zero.
If you want a Woodie's CCI that automatically adjusts to the same periods used in ToR 1.20, I modified a Woodie's to automatically change the periods according to timeframe. You can download it here:
https://www.mql5.com/en/forum/176411/page7Thanks a lot for your help
A+
Thanks Nittany
ToR 1.20
OK, the latest version of ToR now adds CCI on three timeframes, 1 min, 5 min and 15min
with both Entry and Trend user adjustable. The calculation is done price typical so it
will match up with woodie's CCI numbers.
OK, 1.11 was broken, if anyone has it delete it and use 1.12 instead or the new 1.20.
This indicator I originally wrote to simple tell between trending and ranging markets.
But now it's almost a little trading system in itself.
The next version will give plain text buy and sell signals in addition to what is shown in
1.20.
Other functionality remains the same.
This indicator shows you whether a pair is trending or ranging.
For trending markets use moving averages and for ranging
market use oscillators.
It shows ADX values for multiple timeframes to help you
decide which trading technique to use.
Sometimes you'll see short-term trends against the H4
and D1 trend.
Green is up, Red is down, Blue is ranging. There are two arrows
for both up and down depending on the strength of the trend.
There is a 45 degree arrow up and down for beginning trend and
a 90 degree arrow up and down for strong trends. The squiggly
lines represent ranging.
Also, it seems to me that in ranging markets you'll get conflicting
info from ADX on different timeframes.
Version: 1.20
1.20 - added CCI with two periods in 1, 5 and 15 min
1.12 - fixed some bugs in 1.11
1.11 - changed to "stronger" and "weaker", added 4 Hour
1.10 - added ADX increasing and decreasing notice
1.03 - adjusted spacing, fonts, unreleased
1.02 - added arrows, ranging icon, no zero space state
for icons/arrows, spacing got messed up, now
fixed
1.01 - unreleased, reduced number of colors, functional
1.0 - unreleased, too many colors for ADX valuesGreat job Nittany!..
Can i know the blue and red dot based on what indicator and is it repaint? And i would like to hv that indicator pls.
Apreciate assistance!
how to use it. would you pleat detail it about how to know it is ranging or trending.
I am reading a forex book, and it makes me think of something...
I notice that most of the systems that i come across,,,fails during sideways markets...and work well during breakout of trending mkts(thx to MACD,Moving Avg and Laguerre)....
so I am constantly looking for a Non-trending indicators that I 'd like to coporate in my sytem...(Stoch is my current non-trending indicator)...
Any suggestion??
Nittany, U r most welcomed to view my journal too...
sonic
I took a liberty of simplifying the code
Hi nittany1!
I really like your TOR indicator, because my strategy almost same like your, but I like to watch the oscillators, not only the numbers (sorry my poor english). Would you give me a favour? I need an alert (opinion, I mean: if I want, I can turn it on or off) in your indicator: when the ADX above the line (20 or 25 it could be possibility). In this case, I would know, which pair get power. I watch 12 pair on 2 monitor, so it would be very helpful!
Thank you!
Peter Fx