Originally Posted by
;
ToR 1.02
I composed my first indior!
This indior shows you whether a pair is trending or ranging.
For trending markets utilize moving averages and for that range
market use oscillators.
It reveals ADX values for multiple timeframes that will assist you
settle on which trading technique to use.
Sometimes you'll see short-term tendencies against the H4
and D1 trend.
It's up to you whether you exchange at a ranging market. It seems
to me that trading using all the long-term tendency is best.
Having said that, the reason I made this indior would be to
to let the trader decide at a glance what to do, or even to
do so. Remaining out of a market is a place also.
I will adjust the spacing between the objects, but it is useable
at the moment. If it pops up in use and displays crap please
take a screenshot and post it to the forum then shoot me an
email, I'll debug.
I've included two screenshots, one having a including illuion and
one having a solid trending example.
Green is up, Red is down, Blue is ranging. There are two arrows
for both down and up depending on the strength of this trend.
There is a 45 degree arrow down and up for starting trend and
a 90 degree arrow down and up for strong tendencies. The squiggly
lines signify ranging.
Additionally, it seems to me that in ranging markets you'll receive conflicting
information from ADX on different timeframes.
Model: 1.02
1.02 - added arrows, ranging icon, no distance state
to get icons/arrows, spacing got messed up, today
adjusted
1.01 - unreleased, diminished number of colours, functional
1.0 - unreleased, too many colours for ADX worth
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