The MegaFxProfit indicator is a trading signals oscillator that use the median price position according to the recent highest high and lowest low boundaries of the market price.
The oscillator use a small smoothing function to make it more readable and therefore give delayed but clear signals of the market direction.
It could assimilate to a moving average of median price that cut the middle of a Donchian channel to send trading signals. Nothin new here, but I translated it from MT4 version following a request in the trading indicators forum.
The MegaFX indicator plots green and red signal arrows according to the oscillator cross of the zero line. The indicator should be used in conjunction of any other technical analysis or other set of trading indicators.
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//PRC_MegaFX Profit | indicator //04.11.2019 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //converted from MT4 code // --- settings period=21 // --- end of settings if barindex>period then hhigh = highest[period](high) llow = lowest[period](low) mean = (High + Low) / 2.0 temp = 0.66 * ((mean - llow) / (hhigh - llow) - 0.5) + 0.67 * Ld36 temp = Min(Max(temp, -0.999), 0.999) mega = Log((temp + 1.0) / (1 - temp)) / 2.0 + result / 2.0 Ld36 = temp result = mega if result crosses over 0 then r=0 g=255 drawarrowup(barindex,result) coloured(r,g,0) elsif result crosses under 0 then r=255 g=0 drawarrowdown(barindex,result) coloured(r,g,0) endif endif return result coloured(r,g,0) style(line,2) as "MegaFX Profit", 0 coloured(255,255,0) style(line,3) as "0 level" |
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Everytime an indicator or expert has “Mega”, “Ultra”… in it, it’s a pathetic loser XD But thanks for sharing 🙂
You’re welcome! 😉
thanks Nicolas very good idea for trading fx…. Just one question : what is the difference between v1 and v2 ?
I wasn’t aware of 2 versions?
prc_megafx-profit.itf
prc_megafx-profit-2.itf
?
Sorry, I removed the first file, it was not supposed to be here 🙂
Hi Nicholas. how to do this with indicator settings. Well – period, of course. Thank you.
Sorry, I attached a screenshot, but this did not work. I had the following go. How to make the settings line 20 and 24. Thank you.
Sorry but I dont understand your question. You can change the period of calculation at line 8 in the code.
I understand it. The question is, if I want to receive a signal not from level 0, but, for example, from -1 and +1, etc. How to do it so as not to edit the code, but to change it in the indicator settings. Thanks.
the question is removed, thanks. I had to learn programming))) everything was simple
Hello Nicolas,
Thank you and congratulations for your work.
The entry signals seem interesting.
What would you suggest as exit signal?
thank you in advance and good day to you.
Bonjour j’arrive pas a integrer l’indicateur sur mt4 comment faire svp mercii
Il ne s’agit pas d’un indicateur MT4, je vous suggère d’utiliser ProRealTime qui est une meilleure plateforme de trading: https://trading.prorealtime.com/fr/