A SIMPLE INDICATOR BASED ON CANDLESTICKS ONLY

MQL5 Indicators

Specification

I need an indicator for filtering with another indicators

I have a predefined signals for an uptrend and the opposite for a downtrend

The indicator displays an arrow above /below a candle when price will go up/down. if the price goes in the opposite direction the indicator goes to the next stage of the custom signal.

PROGRAM FLOW

1. Start indicator (Vertical line ,IF Reference candle is BULL hence UPTREND)

2. Display Bull signal on each and every candle until we have 4 consecutive loss (Bear Candle)

3. Once we have 4 straight bear candle in an uptrend, we begin to alternate the signal from Bear to BuLL and BUll to Bear untill we get a WIN!

4. ONCE we WIN, the WIN Candle becomes our new Reference Candle ( if the win is a Bull candle then we are still in an UPTREND so we start the uptrend sequence .... IF the WIN ! is a BEAR then the trend has changed to downtrend we start the downtrend custom signal

INDICATOR FLOW DIAGRAM

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Project information

Budget
30+ USD
For the developer
27 USD
Deadline
from 1 to 7 day(s)