Description of Indicator: ***This measures the day's open / close vs then high lows of the day (range) ***When the open /close is less than 20% of the range, then it's likely that the following day will have a big jump. ***The Thought Process is Simply When (Open - Close) is Less Than 20% Of The Range…Shows Indecision and Breakout is Probable. ***Which way? Use whatever indicator you want to figure out if the market is oversold or overbought.
***NOTE: If Indicator Triggers After Extended Up or Down Move…This = High Probability Reversal.
In Inputs Tab: -Ability to Change The Trigger Value…(This is Percent The (Open-Close) is to the Total RANGE of The Bar). -Ability to Turn On/Off Highlight Bars via Check Box.
To Set Alert: -In First Drop Down Box Select Name of Indicator -In Drop Down to Right Select “Alert Blast Off If Below Trigger”. -Then Select “Greater Than”. -Then Select “Value” -To the Right of Value type in .99 -Select On Bar Close, If not you will get FALSE Alerts.
bassed on this indicator when to buy, at the same proce where we see change in color, or anywhere in that candle?
Cervinmole
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Hello Chris, I am happy to use this script, and I thank you for it.
Nevertheless, I noticed that when I use it in conjunction with another of your scripts, CM_Gann Swing HighLow V2, I have a little problem. First of all, I must tell you, that in this last script of CM_Gann Swing HighLow V2, I made a very small change in colors:
//Highlight Bar Color Plots barcolor(closeAbove() ? color.new(color.aqua , 0) : na) //** avant la couleur était jaune barcolor(closeBelow() ? color.new(color.yellow, 0) : na)
I only changed in the 2nd 'barcolor', blue to yellow.
Well, when the 2 scripts work together, the candles that should be colored yellow become normal again, that is, red. On the other hand I have no problem, for the blue color, nor for the pink color (from the script 'CM_Blast_Off_V1_AlertReady'). What do you think ?
I take this opportunity to write to you to ask you a 2 other questions:
What do you think is the best technical indicator to measure volatility (especially for forex) and what is the value of this indicator that indicates that the market is not trending?
Is there already an indicator that would give on the chart screen (I don't know, maybe in the form of a table) the volatility of the main major currency pairs, and alert us that this pair is in strong trend?
And thank you again for the beauty of your scripts! and especially for your shares (sorry for my bad English)
bitcryptowatch
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Dear Chris Moody, I want to add audio (or text) alerts for Pivot Reversal Strategy. I've been searching for days on how to add alerts. I know it has to be coded... I would appreciate if you could help me.
mobfriend3
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Dear Chris Moody,
Is it possible to modify the code so that it will color only the candles whose body size is less than 50 % of range.
Color candle <=50 % of range
Range= high - low
Body= open-close
Mob
mobfriend3
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Sorry forgot to mention indicator for MT4
touns
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hi, i am a beginner and i wonder how can i use that on mt4? could someone be cool enough to
explain me Thanks for all
ChrisMoody
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Almost every Trading Platform has there own coding language. TradingView's coding language is called PineScript and was designed to be mush simpler to code than MT4's, or any other platforms coding language. Therefore no indicators coded on TradingView are MT4 compatible.
IlyasShaikh
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People are using MT4 extensively now.. don't you think people like you should look at MT4 seriously as per as coding a Indicator is concerned.. Anyway Thanks for explaining ...
binaryking
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Chris, is it possible to modify this script to only show doji's on the over 80 and under 20 OB/OS areas?