Positive Negative Volume Reversal

[logicgate]

Hi there! I have an idea for an indicator.

It will plot a light green + sign under a bar meeting this criteria:

It traded below it's open, reversed and closed above it's open.

A 20 period VWMA is above a 20 period SMA. (you can change those values in indicator options to adjust sensitivity)

CVI (cumulative volume index) is above it's 50 day moving average. (you can change this value in the indicator options to adjust sensitivity).

MFI (money flow index) is above it's 50 day moving average. (you can change this value in the indicator options to adjust sensitivity)

*** You have to choose between CVI or MFI method in indicator options, can't have both at same time***

If the bar is an UP bar (it closed above previous bar close), then the a DARK green + appears (or ++). (you can choose how many bars to look back, 1, 2, etc.. in the case you want it to close above more bars to trigger).

For the bearish signal a red - (minus) sign appears on top of bar, same settings as above, but inverted.

The sign can be + -, arrows, dots, does not matter...

Thanks!! God Bless and good trades!

[Apprentice]

Your request is added to the development list under Id Number 4361

[logicgate]

Your request is added to the development list under Id Number 4361

Thanks very much brother!

Look I forgot to add an important trigger parameter in the criteria list, which allows for more customization, which is:

Bar must have average or above average volume (you can adjust the volume MA in indicator options, good to have SMA and EMA as options).

[Apprentice]

Positive Negative Volume Reversal.lua

(5.79 KiB) Downloaded 434 times

I didn't manage to find any bar which satisfies these criteria.
Can you please confirm, everything is as expected.

[logicgate]

Positive Negative Volume Reversal.lua

I didn't manage to find any bar which satisfies these criteria.
Can you please confirm, everything is as expected.

Brother I am on MT4.

You are saying that you coded the indi and it is not triggering any signal? That is weird... Because I find rather impossible that you don't have a reversal bar on average volume, above a 20/20 VWMA - SMA crossover and a CVI or MFI crossover too.

[logicgate]

Regarding the CVI or MFI crossover:

There are two parameters here. You have the period of the CVI or MFI (which can be 20, 50, whatever), then you have to set the period of it's moving average, let's say 50.

Then you you have a 50 CVI with a 50 moving average. So the trigger is when the base value or "raw" value of the indicator crosses it's moving average, in this case the raw 50 CVI line crossed it's 50SMA line...

[logicgate]

Brother apprentice, check it out:

[Apprentice]

Positive Negative Volume Reversal.mq4

(6.33 KiB) Downloaded 469 times

MT4 version. Still no signals. Maybe I misunderstood the requirements
but it looks right to me.

Can you provide a detailed description, please?
Use Pseudo code whenever possible.

[logicgate]

Positive Negative Volume Reversal.mq4

MT4 version. Still no signals. Maybe I misunderstood the requirements
but it looks right to me.

Can you provide a detailed description, please?
Use Pseudo code whenever possible.

I will take a loot at it. What would help to see why it is not generating the signals is to be able to see the MFI plotted (like an option to show/hide the MFI so you can see the levels and the fast and slow MA to adjust the parameters to your liking). Show/Hide VWMA/SMA so you can adjust the values and see what suits you best. That is why it needs all this inputs for customization so you can use in other timeframes and adjust it. For example you can also add a filter, like not triggering signals if in overbought or oversold territory. But to know what is oversold and overbought you gotta load the indicator on the timeframe you wanna adjust it to, so you can see the proper levels of that timeframe, Anyway, I will take a look at it, then I will try to put some images togehter like the ones I posted here to explain it better.