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ContiStat MT5

Brief description

The ContiStat indicator calculate statistic frequency of green (up) and red (down) movement in the chart and determine movement dynamics (silver curve). There are two key parameters to understand the ContiStat principle: Block height and Block count. The ContiStat engine convert instrument price chart move to Blocks of constant height (price) regardles of how much time it take.

Example 1: Block height is set to 50. DE30 index price make move from 15230 to 15443 in an hour. 4 green Blocks are generated.

Example 2: Block height is set to 50. DE30 index price make move from 15145 to 15169 and then to 15088 in a day. Only one red Block will be generated since green Block price height condition wasn't met (15145 - 15195).

Block count determine how many consequent Blocks will be considered as statistic sample. Statistic frequency of green and red blocks in the sample is generated then. The movement dynamics is calculated as inverted value of average number of Rates (Candles) in one Block for statistic sample.

Benefit

In constrast with time based methods to determine trend direction (Moving Averages, RSI, OVB etc.), the ContiStat is time-independent. Despite of market volatility, even in seemingly rangin market it can still show what's the chance to get another up or down movement of selected height.

Parameters

  • Block height: Block height in the  instrument price dimension. Range is <0, instrument price>. Good starting value is 0.2% to 0.7% of instrument price or whatever movement is interesting for you. See screenshots for improper parameter setting. See Brief description for parameter meaning description.
  • Number of Blocks for statistics: Block count for statistic calculation. Range is <0, 1000>. Good starting value is 30. See screenshots for improper parameter setting. See Brief description for parameter meaning description.

How to use

Set the parameters properly: Chose your time frame and choose the price movement that is interesting for you. When parameters set properly, dynamics curve will not stick to 0 nor overshoot 1. When setting Number of Blocks for statistics, keep in mind the indicator will tend to oscilate and show coarse output if value too low and will be "lazy" and lagging significantly, when parameter too high.


When parameters set properly:
  • If the Green output curve significantly ( >= 0.65-0.7) higher then the Red output curve and not descending steeply, speculate for Uptrend continuation, look for Long trades, avoid Short trades at all.
  • If the Red output curve significantly ( >= 0.65-0.7) higher then the Green output curve and not descending steeply, speculate for Downtrend continuation, look for Short trades, avoid Long trades at all.
  • If the Green and the Red output curve in narrow band (0.5 +/- 0.05-0.1), don't trade, or speculate carefully for trade reversals on price chart local extremes.
  • If the Dynamics (Silver curve) is too low (<= 0.2), leave the market. Ther's no interesting move (but the situation may change quickly and unexpectedly).
  • If the Dynamics (Silver curve) is too high (>= 0.8) or rising steeple, you're either in trade, having good times, or not and then don't enter, wait for market to calm a little.

Since the ContiStat isn't trade entry point detector, it's good idea to combine with another indicator, for example MACD. Example is shown on screenshot


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Este es posiblemente el indicador de reconocimiento automático de formación de precios más completo que puede encontrar para la plataforma MetaTrader. Detecta 19 patrones diferentes, toma las proyecciones de Fibonacci tan en serio como usted, muestra la zona de reversión potencial (PRZ) y encuentra niveles adecuados de stop-loss y take-profit. [ Guía de instalación | Guía de actualización | Solución de problemas | FAQ | Todos los productos ] Detecta 19 formaciones de precios armónicos difer
** All Symbols x All Timeframes scan just by pressing scanner button ** *** Contact me  to send you instruction and add you in "123 scanner group" for sharing or seeing experiences with other users. After 17 years of experience in the markets and programming, Winner indicator is ready. I would like to share with you! Introduction The 123 Pattern Scanner indicator with a special enhanced algorithm is a very repetitive common pattern finder with a high success rate . Interestingly, this Winner in
IX Power MT5
Daniel Stein
4.17 (6)
IX Power   lleva por fin la insuperable precisión de FX Power a los símbolos que no son de Forex. Determina con exactitud la intensidad de las tendencias a corto, medio y largo plazo de tus índices, acciones, materias primas, ETF e incluso criptodivisas favoritas. Puede   analizar todo lo   que su terminal le ofrece. Pruébalo y experimenta cómo   tu timing mejora significativamente   a la hora de operar. Características principales de IX Power Resultados de cálculo 100% precisos y sin rep
Quantum Trend Sniper
Bogdan Ion Puscasu
4.71 (49)
Introduciendo       Indicador Quantum Trend Sniper   , el innovador indicador MQL5 que está transformando la forma en que identificas y negocias los cambios de tendencia. Desarrollado por un equipo de comerciantes experimentados con experiencia comercial de más de 13 años,       Indicador de francotirador de tendencia cuántica       está diseñado para impulsar su viaje comercial a nuevas alturas con su forma innovadora de identificar cambios de tendencia con una precisión extremadamente alta.
This indicator belongs to the family of channel indicators. These channel indicator was created based on the principle that the market will always trade in a swinging like pattern. The swinging like pattern is caused by the existence of both the bulls and bears in a market. This causes a market to trade in a dynamic channel. it is designed to help the buyer to identify the levels at which the bulls are buying and the bear are selling. The bulls are buying when the Market is cheap and the bears a
Easy By Sell is a market indicator for opening and closing positions. It becomes easy to track market entries with alerts. It indicates trend reversal points when a price reaches extreme values ​​and the most favorable time to enter the market. it is as effective as a Fibonacci to find a level but it uses different tools such as an algorithm based on ATR indicators and Stochastic Oscillator. You can modify these two parameters as you wish to adapt the settings to the desired period. My othe
Golden Spike Premium
Kwaku Bondzie Ghartey
Golden Spikes Detector Notice: Limited-Time 50% Discount on All Products   Due to high interest, only a few (about 8) discounted spots remain for   Golden Spikes Premium .  For those interested, all my trading tools, including Golden Spikes Premium, are currently available at a 50% discount until October 30, 2024 . Feel free to take advantage while it lasts. Acknowledgement and Dedications:  The name of this indicator was Inspired by an Original; Mr Grant Koopman; a Knowledgeable and experienced
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ExtremeFinder
Matous Bartl
5 (1)
Description: ExtremeFinder analyze chart and find local extremes - maximum and minimum. Searched extreme is always of opposite type then previous. Local extreme is confirmed when price difference is higher then set price difference, but not sooner then after set number of candles. Two different types of Local extreme confirmation are performed: Normal for common Price changes, Quick for steep Price changes. Price difference to confirm local extreme can be set as absolute value, in percent of l
ContiStat restricted - Free DEMO version of the ContiStat indicator Free version of the indicator is ment as DEMO of full paid version. Full functionality is available, however The indicator work only on M30 chart period . Find the ContiStat indicator for full functionality Brief description The ContiStat indicator calculate statistic frequency of green (up) and red (down) movement in the chart and determine movement dynamics (silver curve). There are two key parameters to understand the Conti
FREE
ContiStat restricted - Free DEMO version of the ContiStat indicator Free version of the indicator is ment as DEMO of full paid version. Full functionality is available, however The indicator work only on M30 chart period . Find the ContiStat indicator for full functionality Brief description The ContiStat indicator calculate statistic frequency of green (up) and red (down) movement in the chart and determine movement dynamics (silver curve). There are two key parameters to understand the Cont
FREE
DataGrabber The database creator DataGrabber store selected instrument history to .csv files. It's purpose is to automatically create extensive history database. DataGrabber is added to the selected instrument chart window as an indicator. It periodically check presence of bar data on the server and presence of .csv files on client PC (local database). If missing files detected in local database, it's created, filled with data and added to the database. Range of bar history in days bee
Brief description TrendWatch indicator analyze chart trend strength and acceleration. Analysis is based on close price SMA with configurable period. Result is given as set of two curves in the indicator window. Blue (default color) curve identify trend direction and strength. Yellow curve (default color) identify trend tendency to accelerate/deceleare. Scale of curves is normed to maximal value in given time period. Both curves can be additionally smoothed using configurable SMA and/or set to
Brief description The ContiStat indicator calculate statistic frequency of green (up) and red (down) movement in the chart and determine movement dynamics (silver curve). There are two key parameters to understand the ContiStat principle: Block height and Block count . The ContiStat engine convert instrument price chart move to Blocks of constant height (price) regardles of how much time it take. Example 1: Block height is set to 50. DE30 index price make move from 15230 to 15443 in an hour. 4 g
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