hi people.. newb here...not sure if any experienced traders check in here or if there are any newbs that can help...but i have been looking at a couple of indis i have come across on the net and think combined they may be of some help in determining entry points..my brief analysis is manuallydone by eye and only on GU 1hr chart so far.. unless they repaint (which im not sure they do)..they seem to denote a good place to get in at the high or low of the bar where the signals are given, in the direction of say the Trendlord indi....
are there any mt4 gurus out there that can maybe backtest this and determine the best money management sl versus tp for possible exits as well etc if its worthy?...and if it is & they are of use, create an ea for singals/manual trading not robot...(maybe combine with more powerful indis for further confirmation)
the indis are damiani volatmeter and chopiness index 2.. put the in the same indi window and set the level on the chop index to 50.. as i understand the indis simply when the grey line of the damini volatmeter crosses below the green line of the damini volatmeter that denotes ranging market has ended.. adding the choppiness index and taking note when its red signal line is below the 50 line this adds weight to the volatmeter signal..
open to suggestions....
forgive the lack of code one of them..as i dont have it.
cheers naboo
are there any mt4 gurus out there that can maybe backtest this and determine the best money management sl versus tp for possible exits as well etc if its worthy?...and if it is & they are of use, create an ea for singals/manual trading not robot...(maybe combine with more powerful indis for further confirmation)
the indis are damiani volatmeter and chopiness index 2.. put the in the same indi window and set the level on the chop index to 50.. as i understand the indis simply when the grey line of the damini volatmeter crosses below the green line of the damini volatmeter that denotes ranging market has ended.. adding the choppiness index and taking note when its red signal line is below the 50 line this adds weight to the volatmeter signal..
open to suggestions....
forgive the lack of code one of them..as i dont have it.
cheers naboo
Attached File(s)
Damiani_volatmeter.mq4
3 KB
|
462 downloads
Damiani_volatmeter.ex4
3 KB
|
402 downloads
Choppiness index 2.ex4
3 KB
|
455 downloads