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Name:
Indicator Strength
Author: Catan (2009.04.08 08:19)
Downloaded: 7547
Download:
 Indicator_Strength.mq4 (10.2 Kb) View

This indicator displays, in histogram form, the difference between either:

  1. a fast and slow moving average (MA_Power=true)
  2. main and signal lines of a MACD indicator (MACD_Power=true)
  3. main and signal lines of a stochastic indicator (Stochastic_Power=true)

Only one option can be choosen (default is moving average) at any one time, although another indicator can be opened for another option.
This indicator also displays average (strength) levels of difference values above and below the zero line. This feature can be disabled (Set_Levels=false).
This indicator is meant to gauge the power/strength behind a price move.


7 comments  To post a new comment, please log in or register
Hi, great indicator! Is it avaliable for MT5?
20.08.2012 14:36 URSUS
rocnation:

Great work on the Indi. Is there an EA available for the indicator?



really like the idea of this indicator but for some reason when I load onto chart, I am not seeing the histogram, do you have any suggestions? regards

Dave

23.01.2011 04:29 pullend

Great work on the Indi. Is there an EA available for the indicator?


04.08.2009 23:13 rocnation




Great Indicator. My EA truned from LOSS to Profit when I used this indicator as filter to filter out false signals.


Results without Indicator


Results with Indicator as filter

20.07.2009 00:04 netFX
donmajor wrote:

This is a great work. Thank you for sharing. A great filter for my trading strategy

What are the other indicators used in this chart?


11.07.2009 22:54 OpaBert

How can this be modified to change the color in the histogram to YELLOW when values decrease above 0 and increase below 0?

Yellow would then represent a warning that the directional strength is decreasing.

11.07.2009 22:52 OpaBert

This is a great work. Thank you for sharing. A great filter for my trading strategy

17.05.2009 15:41 donmajor