ChrisMoody

Custom Indicator Clearly Shows If Bulls or Bears are in Control!

The Two Versions of this Indicator I learned from Two Famous and Highly Successful Traders. This Indicator shows With No Lag Clear Up and Down Trends in Market by Documenting Clearly If Bulls or Bears are in Control. The Version In SubChart 1 Shows Consecutive Closes if the Current Close is Greater than of Less than the Midpoint of the Previous Bar (Why Midpoint Explained in Detail in 1st Post). The Version in SubChart 2 Shows Consecutive Closes that are Greater than or Less Than the Previous Close (Will Discuss Specific Uses in 1st Post). Works on Stocks, Forex, Futures , on All Timeframes.
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study(title="CM_TotalConsecutive_Up_Down_V2", shorttitle="CM_TotalConsec_Up_Down_V2", overlay=false)

dopm = input(true, title="Check = Use Midpoint, UnCheck = Use Prev Close")
dohbM = input(false, title="Highest Bar Look Back Period - Using Midpoint?")
dohbC = input(false, title="Highest Bar Look Back Period - Using Close?")
dostM = input(false, title="Standard Dev - Using Midpoint?")
dostC = input(false, title="Standard Dev - Using Close?")
domaM = input(false, title="Moving Average - Using Midpoint?")
domaC = input(false, title="Moving Average - Using Close?")
hlength = input(4, minval=1, title="Horizontal Line")
length2 = input(50, minval=1, title="Highest Bar Look Back Period")
length4 = input(50, minval=1, title="Standard Dev Length")
length5 = input(2, minval=1, title="Standard Dev Multiple")
length3 = input(20, minval=1, title="Moving Average length")


down_BarC = close > close[1]
up_BarC = close < close[1]

down_BarM = close > hl2[1]
up_BarM = close < hl2[1]

//percentrank = percentrank(barssince(down_Bar), 50)/10
avg_Down = sma(barssince(down_BarM), length3)
avg_Up = sma(barssince(up_BarM), length3)
avg_DownC = sma(barssince(down_BarC), length3)
avg_UpC = sma(barssince(up_BarC), length3)

stdevdm = stdev(barssince(down_BarM), length4)*length5
stdevum = stdev(barssince(up_BarM), length4)*length5
stdevdC = stdev(barssince(down_BarC), length4)*length5
stdevuC = stdev(barssince(up_BarC), length4)*length5

plot(dopm and barssince(down_BarM) ? barssince(down_BarM) : barssince(down_BarC), title="Price Down Based On Midpoint or Close", color=red, style=histogram, linewidth=3)
plot(dopm and barssince(up_BarM) ? barssince(up_BarM) : barssince(up_BarC), title="Price Up Based On Midpoint or Close", color=lime, style=histogram, linewidth=3)
plot(dohbM and highest(barssince(down_BarM), length2) ? highest(barssince(down_BarM), length2) : na, title="Highest Down Bar Lookback - Midpoint", color=red, linewidth=4)
plot(dohbM and highest(barssince(up_BarM), length2) ? highest(barssince(up_BarM), length2) : na, title="Highest Up Bar Lookback - Midpoint",color=lime, linewidth=4)
plot(dohbC and highest(barssince(down_BarC), length2) ? highest(barssince(down_BarC), length2) : na, title="Highest Down Bar Lookback - Close",color=red, linewidth=4)
plot(dohbC and highest(barssince(up_BarC), length2) ? highest(barssince(up_BarC), length2) : na, title="Highest Up Bar Lookback - Close",color=lime, linewidth=4)
plot(dostM and stdevdm ? stdevdm : na, title="StdDev of Down Bars - Midpoint",color=red, linewidth=4)
plot(dostM and stdevum ? stdevum : na, title="StdDev of Up Bars - Midpoint",color=lime, linewidth=4)
plot(dostC and stdevdC ? stdevdC : na, title="StdDev of Down Bars - Close",color=red, linewidth=4)
plot(dostC and stdevuC ? stdevuC : na, title="StdDev of Up Bars - Close",color=lime, linewidth=4)
plot(domaM and avg_Down ? avg_Down : na, title="MA of Down Bars - Midpoint",color=red, linewidth=4)
plot(domaM and avg_Up ? avg_Up :na, title="MA of Up Bars - Midpoint",color=lime, linewidth=4)
plot(domaC and avg_DownC ? avg_DownC : na, title="MA of Down Bars - Close",color=red, linewidth=4)
plot(domaC and avg_UpC ? avg_UpC :na, title="MA of Up Bars - Close",color=lime, linewidth=4)

hline(hlength, title="Horizontal Line", linestyle=dashed, linewidth=4, color=yellow)
Hello ChrisMoody!
I need this indicator for Forex Mt4 trading
Can you help me, say thank to you!

Reply
Please help me having this good indicator!
Thanks so much.
Reply
Hello Chris, I just have two question. Your histogram in how much time is defined? for example: daily TF, how much I have to wait to know exactly if bear or bull are in control? I think at the close of each candle and not while is in formation, right?
Second: based on your experience, which one do you suggest for strategy based on price action?

Have a good day and thank for your indicator.
+2 Reply
Thanks for the indicator. Could you perhaps further elaborate it by creating another similar indicator that at the start of each horizontal interval, identified by any HH, HL, LH, LL (coming for ex by a zigzag on price), starts to paint an histogram plotting the cumulative volume traded during that swing (its shape would appear similar to the histogram of this bull bears indicator you have published here).
This histogram would give an immediate visual representation of how much volume has been traded during each swing, which would be helpful for easily spotting volume divergences on any ------ developing !------ HH, HL, LH, LL.
Thank you.
+1 Reply
I basically added all your custom indicator and playing with them, you rock! I am just curious which of your own indicators you use the most and which of the classic ones?
+1 Reply
2use cristian.d
Ditto.
Reply
ChrisMoody PRO cristian.d
Thanks for the comment...That's not a short answer...as it depends on the market and timeframe I'm trading. If I haven't answered in a day or so remind me...just got back in town and have a lot of questions to answer.
+2 Reply
Hey would you please tell me where can I get the codes for mt4 platform?
+1 Reply
Very useful professional indicator, thanks for coding it!
Reply
Thanx for sharing and for the detailed description in comments - best way to do this as i see. I will have to read it thoroughly :_)
Reply
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