I want to create an indicator that would keep me out of choppy markets

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Hello,

I want to create an indicator that would keep me out of choppy markets. I only

want the indicator to help me enter trades that have moved at least 1 pip per 1

minute during a certain (variable input) time frame.

I want the indicator to record the price ('benchmark price') immediately after

loading and again after every 1 minute to compare with the current price. I

want the indicator to have 5 colored squares, for example: a 15 pip, 20 pip, 30

pip, 45 pip, and 60 pip indicator squares in a horizontal line from smallest to

largest, left to right.

If the current price has increased/decreased at least 1 pip per 1 minute from

the benchmark price, the indicator would color the corresponding square green.

For the 15 pip square it would need to move at least 15 pips from the benchmark

price in 15 minutes or less, 20 pips in 20 minutes or less for the 20 pip

square, 30 pips in 30 min etc...)

If it has not moved at least 1 pip per minute, it would color the square red

(similar to Signal Bars). The indicator would be able to be placed in any one

of the 4 corners of a chart.

After the indicator is loaded (or the EA that uses this indicator is loaded) it

will start to record the benchmark prices immediately (updated every 1 minute).

The indicator will compare the current price at the end of every 1 minute with

the benchmark price, which is also reset every minute.

The indicator will not have to wait to indicate color. After 1 minute, it It

will start comparing the current price with the benchmark price and color the

corresponding square green or red. For example, if the pair has moved 30 pips

in 8 minutes after loading the indicator; the 15 pip square, the 20 pip square

and the 30 pip square will all be green. The 45 pip and 60 pip square will

still be red. If the pair has moved 60 pips in 42 minutes, all squares will be

green

The indicator would reset after a trend change on the main trading indicator (such as nonlagMAv7), then will follow the rules outlined above.

 

This is a very intersting idea.

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