Thread: Mindhero

Hello Funyoo,

This indicator was posted on MQL4 code base. It seems to give pretty good signals except a few false ones. Certainly I have no idea how it works but It is working for me.

I am attaching a screen shot as well as the indicator.

My request to you is to build an ea based on this indicator with following criterias.

Time frame: Dosent matter (15 min recommended)
Use on pairs with spread less than 6.
If possible can have money management features or an option to choose how many lots to be traded.

Entry criteria: enter as soon as the arrow forms and in the respective direction of arrow.
Fixed take profit of 10 pips ( if possible keep an option of setting take profit )
Trade will stop if the opposite signal appear before TP is hit and a new trade will open in opposite direction.
SL at the highest price in last 5 bars ( for short entry) and at lowest price in last 5 bars (for long entry).

I certainly do not have a detailed statement as I am trying many methods. But the screenshot should give you an idea how good are the signals.


Please let me know if this is a feasble idea.


Thanks a lot.

Isn't this indicator repainting? or do the arrows show up 3/4 bars after the bar where they show up?

in that case, you will 'always' be running after the market, so an EA based on that indicator will not give you the result you wish for..

From what I have noticed is that it will form at the begining of the bar. If you look closely it never comes on the reversal bar --- it always next to it. That way it had already calculated the current bar will be a strong down or up trend. It does give some false signals.

I have never seen repainting.

Thanks

I am testing it and is it possible to make modification to open/close trade only when arrow(blue/red) comes up not after if you late in trade.

Thank you in advance.

maybe using stochastic to check trend would be better