Consensus of Five

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Consensus of Five

Postby Apprentice » Thu Nov 29, 2012 10:32 am

Consensus of Five.png


This indication is obtained as Consensus of all selected (five) indicators.

green color:
1. cci > buy level
2. macd > buy level
3. adx > entry level and adx < exit level
4. dmi positive > dmi negative
5. stochastic k> stochastic d and d< ob level

red color:
1. cci < sell level
2. macd < sell level
3. adx > entry level and adx < exit level
4. dmi positive < dmi negative
5, stochastic k< d and d > os level

else
blue

Consensus of Five.lua
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EURUSD D1 (03-11-2016 2034).png

MTF MCP Consensus of Five.lua
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MT4 version is available here.
viewtopic.php?f=38&t=61082&p=107618#p107618
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Apprentice
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Re: Consensus of Five

Postby evgeniyn » Fri Jan 11, 2013 7:45 am

Thank you for indicator. Could you please create strategy according to scenario - buy on start of green color and sell start of red color.
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Re: Consensus of Five

Postby zoltanh » Tue Aug 26, 2014 2:36 pm

hi,

i think the ADX was given the other way around for the signal of opening short deals - it still should be above 20 and below 40 as it was given for the long positions.

Code: Select all
if ONE == nil   and  TWO == nil  and THREE_B == nil  and THREE_S == nil and FOUR_B== nil and FOUR_S== nil and FIVE_B== nil  and FIVE_S== nil  then
      open:setColor(period, instance.parameters.No);      
      elseif (ONE == true or ONE == nil) 
      and (TWO  == true  or TWO == nil) 
      and (THREE_B  == true  or THREE_B == nil)
      and (FOUR_B == true   or FOUR_B == nil) 
      and (FIVE_B == true   or FIVE_B == nil)
      then      
      open:setColor(period, instance.parameters.Up);
        elseif(ONE == false or ONE == nil)
      and  (TWO == true or TWO == nil)
      and (THREE_S == false or THREE_S == nil)   
      and (FOUR_S == false or FOUR_S == nil) 
      and (FIVE_S  == false or FIVE_S == nil) 
      then
      open:setColor(period, instance.parameters.Dn);
      else
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Re: Consensus of Five

Postby Apprentice » Wed Aug 27, 2014 2:14 am

Fixed.
Please Re-Download.
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Re: Consensus of Five

Postby zoltanh » Wed Aug 27, 2014 9:14 am

Thanks Apprentice!
Do you think this indicator could be combined with a pivot strategy?
I mean if a candle closes above a resistance/below a support level, it would open a long position if indicator shows green and go for short if the indicator shows red.
This would be a great help!

Thanks,
Zoltan
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Re: Consensus of Five

Postby jay1994 » Wed Aug 27, 2014 2:02 pm

Hi Apprentice, is there a MQ4L version of this indicator?

If not can one be made??

Thankss!
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Re: Consensus of Five

Postby Apprentice » Thu Aug 28, 2014 5:22 am

Your request is added to the development list.
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Re: Consensus of Five

Postby Lnst3797 » Sun Dec 21, 2014 2:45 pm

EWO oscillator strategy works well in combination of Consensus of five indicator>

Would it be possible to add it to this Consensus of five Strategy.
buy when EWO crossover 0 line or bottom and consensus of five is green
sell when EWO crossunder 0 line or top and consensus of five is red

Thanks in advance
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