I think i have good idea for such indicator, but unfortunatelly i can't write indicators... But maybe someone will know how to do that

Here's idea:

The base are 2 indicators - support resistance (white dashed line on a chart, value is 6- shows min/max from 6 last bars) and atr (everyone know whats that).

My idea is that this indicator will draw 2 lines in some distance from support resistance (distance based on atr) as it is shown on the chart.
Aim is to not enter long if price is under blue line and short if price is above red line.
I have noticed that 1,5atr filter is a good filter in flat trends.

There should be at least 3 parameters:
1) atr period
2) atr percentage parameter (for ex. 1.5 when line is suppose to be in distance of 150% of atr)
3) support resistane period (how many bars to include in min/max search)

I hope everything is understandable. Sorry for language

Cheers

Attached Images

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Hi,
I wonder if members would share with me and the forum the indicator/s they use and how they use them, to determine at the earliest point in time, when a flat period in the market is at an end and a tradeable rise or fall should be given your attention?

I, like others, know that a cyclical few days are relatively easy to identify and trade off, its knowing when a flat spot is over that always eludes me.

regards
Brandoni

Some more besides the links on prev posts:

DMI ADX-System

Standard Deviation Std Deviation

Vertical Horizontal Filter I need a indicator (VHF)

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Hello Community.
currently i'm using ADX as a tool to identifying current market mode (Trend or Non-Trend)
but as you know. ADX isn't that much efficient for this.
is there better method to identify current market mode?
Thanks for reading.

Look at this post: http://www.forex-tsd.com/84297-post4.html

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My blog on TSD

Hi again r4bb1t,

I know I aswered you already but I want to give you a bit of information to think about and that would help you in your further search or maybe frustrations.

Every indicator that you would find that as you put it "to indentify the current market mode" is actually going to show you a result that you can actually see with your own eyes on the price (chart) itself. Meaning that if an indicator would show you an indication of strong trend and if you would watch the chart or price itself you are going to think "yep I can see that also".
When it will show you that the market is consolidating you gonna have the same reaction again "yep I can see that on the chart also"...

So when you think about this you don't need an indicator to tell you the same thing as what you can see for yourself.
So then one starts to think that he would like to have an indicator that is a step ahead. Meaning that it could tell you from the very beginning if it is GOING to trend or if the market is GOING to range.
But that is the same as looking for a cristal ball indicator.
No indicator in the world can tell you, based on the information it has on that moment, what the market is going to do next.
If price turns 20 pips in the other direction an indicator does not know if that is the beginning of a major trend reversal or if that is going to be a little retracement or if that will be a bigger correction. And that is for every move that would follow next.
That means that an indicator is going to show you a distorted patern (consolidation) if to many of those fals moves will follow up on each other but by then you noticed that already also on the chart itself or the severall losses you made.
If no false moves would be followed up on each other but that price moves in a more or less straight line that indicator is going to tell you that (trend) but then again you will see that on the chart itself.

Whatever the name of that indicator or how colourfull that indicator maybe or whatever woow-feeling you will have at first site when you look to one of those indicators, the outcome will always stay the same: Not possible to predict if price is going to trend or range or consolidate.
Just trade a system or devellope a system that can cope with the fact that price can range or can trend and accepting that losses are a part of trading as breathing is to life.
The advice would be: concentrate on improving your system but accept its negative elements and don't try to waist any time on searching for something that can so called identify the difference between trend and range.

And price itself is the best indicator that you will find. Trust on what you see, no trend-range-indicator will do better then what you see. If price is moving sideways over a longer time it is ranging if price is making new highs or new lows over a period of time it is trending....as simple as that ( clearly explained in this posting http://www.forex-tsd.com/28874-post1.html ...why would you need an indicator that would tell you the very same as what you can see on those 4 charts. And if your reaction or feeling would be that it is not always that easy to recognize it then that feeling on itself is a very good indicator to you that tells you: if you can not recognize it then an indicator would also not recognize more then what you can see and then just stay away from it till it becomes clear).

Friendly regards...iGoR

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Success comes with knowledge. Knowledge comes with experience. Experience comes with time and hard work... (iGoR)
MT Intelligence - Stats for fxigor1

Hey

Does anyone know if there are any indicators that are able to tell you that the market is in a range. I know that you know this when the market goes sideways. I also know that you can use bollinger bands (they contract when the market starts ranging). I also know that EMA's do their thing.

Are there any other indicators?

Thanks for any help
Jake

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