2009.05.02 TRO_Reversal_Indicator

[TheRumpledOne]

2009.05.02 TRO_Reversal_Indicator




Found this idea HERE.


FREE MT4 version of TRO_Reversal_Indicator, INCLUDING SOURCE CODE, attached.


PLEASE DO NOT POST MY INDICATORS ON OTHER FORUMS.



Update: added Pop Up and email alerts

Update: changed to match better specs

[verbtheory]

Avery, thanks indeed! Easily one of the handiest indi's available now.

One request, can you please add an alert?

Thanks!

[TheRumpledOne]

Alerts added.

Now a request for you... please post a chart showing it on Forex Factory.

[PTG]

Tro,

I read the following on FF:

Well yes, the actual Head Fake filter actually means:

1. Two consecutive ups, with the second high-close distance greater than the first one.

2. Vice versa for two consecutive downs.

The 3rd arrow from the right doesn't conform to that spec if I'm right, in which case it would lead me to inquire about the following:

a) is the indicator based on a different spec and if so what is it
b) is the spec as per the spec above but not correctly implemented ?

[verbtheory]

Alerts added.

Now a request for you... please post a chart showing it on Forex Factory.

Thanks Avery, if you can adjust per the previous post that would be great.

Basically the second consecutive close needs to be the same color candle and the distance of the open to close needs to be greater than the preceding same color candle.

Then gladly will I post away!

[TheRumpledOne]

- 2 consecutive up closes, where the 2nd close candle is larger than the 1st
or
- 2 consecutive down closes, where the 2nd close candle is larger than the 1st


====================

The way I read it, I thought it was higher closes. Are you saying an UP CLOSE is a green candle? So 2 consecutive green candles with the current candle close above the previous candle close?

The better the specifications, the better the code!!

I still don't see a chart posted at FF!!

[TheRumpledOne]

OK... I updated the indicator.. .the least you can do is post a few charts on FF!!

[verbtheory]

OK... I updated the indicator.. .the least you can do is post a few charts on FF!!

Check! Posted brother.

[left]http://i43.tinypic.com/xdec2a.jpg[/left]

One last thing, that would be good is if we can have input variable for how many candle closes that we count. So say we wanted to count 3 candle closes with open-to-close distances greater than the one before.

Thanks Avery!

[Ganglion]

Thank you very much. It is very useful.

[TheRumpledOne]

"One last thing, that would be good is if we can have input variable for how many candle closes that we count. So say we wanted to count 3 candle closes with open-to-close distances greater than the one before. "

That would need a total rewrite.