Let us build your custom indicator - free service

[Nick]

Hey Guys,

I'd like to invite everyone to submit your technical trading strategies for discussion, with the aim of developing indicators to automate the process. We will develop several indicators free of charge, making the finished product freely available to the community.

Ordinarily, it would cost hundreds of dollars to build a custom indicator or EA, but we're absorbing the entire cost and using our in-house developer, Byron, who's already built several tools for us internally that we use on a daily basis.

We're not doing this for commercial benefit. Everything we build is openly discussed and free. It's simply an exercise to see how much interest there is out there to collaborate and design technical strategies for the benefit of everyone.

We have a strong preference to build indicators instead of EA's because of an apprehension about executing live trades on clients accounts, however, we are open to all ideas.

If you are submitting a strategy or idea, please ensure it's purely mechanical and doesn't have more than 4-5 inputs.

I look forward to discussing your thoughts and building some useful tools to help all of us beat the market together.

[Kichie]

This is a thread I can't get more excited about!

KICHIE FOREX TRADING STRATEGIE - ALWAYS WITH THE TREND DIRECTION.

My trading thesis is simple but effective. My main trading strategies, much like a lot of other traders out there is mostly technical based.

I buy or sell pairs based on consolidation in the market and a break out after the consolidation, that big move we get from an engulfing candle.

Below I have a chart of EURCAD on a 4H time frame, I will show some examples where I look to buy and sell and also why I like to buy and sell these types of trades.

Generally I like price to be medium distance from the EMA as see in E.G #1 and #3.

We don't always get such a smooth ride though, so based on E.G #2 we have more of a consolidation area, this is where i'd wait for price to be closer to the 20 EMA then wait for that engulfing candle to shoot through or away from the 20 EMA over riding the candle stick next to it.

My SL is always placed just above or below previous high or low bars. Below is a link to some examples on a chart.

https://snag.gy/OW37dM.jpg

[Big River Man]

Thanks Nick I reckon this is a good idea and hopefully beneficial to all.
I'm a legend yes I know.
I'll post my 2 initial ideas tonight when get to my shitty ass ancient laptop.

Sent from my SM-G935F using Tapatalk

[Nick]

This is a thread I can't get more excited about!

KICHIE FOREX TRADING STRATEGIE - ALWAYS WITH THE TREND DIRECTION.

My trading thesis is simple but effective. My main trading strategies, much like a lot of other traders out there is mostly technical based.

I buy or sell pairs based on consolidation in the market and a break out after the consolidation, that big move we get from an engulfing candle.

Below I have a chart of EURCAD on a 4H time frame, I will show some examples where I look to buy and sell and also why I like to buy and sell these types of trades.

Generally I like price to be medium distance from the EMA as see in E.G #1 and #3.

We don't always get such a smooth ride though, so based on E.G #2 we have more of a consolidation area, this is where i'd wait for price to be closer to the 20 EMA then wait for that engulfing candle to shoot through or away from the 20 EMA over riding the candle stick next to it.

My SL is always placed just above or below previous high or low bars. Below is a link to some examples on a chart.

https://snag.gy/OW37dM.jpg

Thanks for the input Kichie. There's actually a lot more discretion in your strategy than you might realise and until you can clearly define these candle formations in a mechanical way it's almost impossible to code.

Let me give you a couple of examples:

EG # 1 - What constitutes an "established trend"? Is it a set number candles within a specific price range? If so, how big is the price range and does it differ between pairs?

EG #2 - What is a hammer candle? How big is it and how much does it need to retrace to be fit this criteria?

EG #3 - Price needs to match a candle pattern and also agree with the 20 EMA in this example. The EMA part is easy, but how would we define the engulfing, small doji and how they relate to each other?

This is the kind of strategy that makes sense when seeing it visually, however code doesn't have eyes, so we need to provide defined logic for each criteria.

Something to think about

[Kichie]

i'll get to it nick

[Big River Man]

i'll get to it nick

I was going to say the same thing. Hard to code due to the discretionary element.

Looks nice though of course!

Sent from my SM-G935F using Tapatalk

[barnacle]

Let me give you a couple of examples:

EG # 1 - What constitutes an "established trend"? Is it a set number candles within a specific price range? If so, how big is the price range and does it differ between pairs?

EG #2 - What is a hammer candle? How big is it and how much does it need to retrace to be fit this criteria?

EG #3 - Price needs to match a candle pattern and also agree with the 20 EMA in this example. The EMA part is easy, but how would we define the engulfing, small doji and how they relate to each other?

This is the kind of strategy that makes sense when seeing it visually, however code doesn't have eyes, so we need to provide defined logic for each criteria.

Something to think about

Have default parameters, however, some parameters can be changed by the user.
Make it easier to program, otherwise it will be a factory floor system (1 Setting for all).

[Nick]

Have default parameters, however, some parameters can be changed by the user.
Make it easier to program, otherwise it will be a factory floor system (1 Setting for all).

That sounds like a good idea, but what parameters exactly?

We can use existing indicators and identify correlations between them relatively easily, however when it comes to coding candle patterns it becomes much harder.

[Big River Man]

So an simple indicator that I would think would be interesting would be based on this guy called Jared Johnson. Now this is all public knowledge and widely available on the internet so I will cut and paste the basic premise.
I think this could be turned into a indicator
1. Obviously it doesn't HAVE to be on 15M chart but can be relevant for whatever TF you stick it on.
2. Rather than 400 it would be good if this was a number able to be manually changed as different pairs behave differently. Could be 200, could be 500. Whatever.

So the idea would be to have the indicator to paint when the parameters are set. I have a snapshot of from somewhere that i can't remember but at the moment my computer isn't letting me upload it.

Very happy for people to add to this without making it hugely over-complicated. Obviously it would be too hard to make an EA of that strategy but I am sure we could get some added filters in to make the indicator better?

[Big River Man]

Have some more ideas but is taking me too long to connect to website sorry. Will add to this thread much more later

[Nick]

Hello .... ?

Sorry for the lack of response Renko.

To be honest this didn't get anywhere near the amount of interest that I hoped for.... Only 270 views and virtually no discussion about the suggested strategies. I thought it would be a cool to automate part of your strategies and get some open discussion happening here, but it turns out I was wrong.

It's surprising, because we're essentially offering thousands of dollars worth of coding for free.

If things change in the future and there is genuine interest from the community to get involved in building something together then we'll still do it, but for now we're parking the idea.

[Big River Man]

Sorry for the lack of response Renko.

To be honest this didn't get anywhere near the amount of interest that I hoped for.... Only 270 views and virtually no discussion about the suggested strategies. I thought it would be a cool to automate part of your strategies and get some open discussion happening here, but it turns out I was wrong.

It's surprising, because we're essentially offering thousands of dollars worth of coding for free.

If things change in the future and there is genuine interest from the community to get involved in building something together then we'll still do it, but for now we're parking the idea.

Also disappointed.
Hopefully can be revisited in the future. I'll continue the hunt for a coder.

Sent from my SM-G935F using Tapatalk

[philtre71]

[Kichie]

Sorry for the lack of response Renko.

To be honest this didn't get anywhere near the amount of interest that I hoped for.... Only 270 views and virtually no discussion about the suggested strategies. I thought it would be a cool to automate part of your strategies and get some open discussion happening here, but it turns out I was wrong.

It's surprising, because we're essentially offering thousands of dollars worth of coding for free.

If things change in the future and there is genuine interest from the community to get involved in building something together then we'll still do it, but for now we're parking the idea.

Unfortunate.. It excited me!

[Nick]

Thanks Phil, I'm keen to hear more about how you go about commissioning development on mql5.com

For clarity, development time runs at about $80/hr, which is fairly standard in western world. As soon as there are more than a couple of conditions within an EA/indicator it can easily chew up several hours of development and testing.