Extreme Pullback (ATR+ Round Number + Pivot)

[Bowling]

Hi team,

I hope you can help on my request. Looking for a Pullback strategy of the price to "00" round numbers where the price has reached its daily ATR for the last 20 days and also there is Pivot Point on the confluence.

For that, I have the Pivont Point - History indicator.mq4. It shows a R/S boxes but they are not the ATR. Can those boxes be based on the ATR of the last 20 days?

The Box, should have a middle line for the ATR value and an upper limit and lower limit of 20%.

Also, can the Day of the Week be displayed on top? Sunday/Monday (S/M); Tuesday (T); Wednesday (W); Thursday (T); Friday (F)?

The other indicator that I attach is the Sweet Spots.mq4, it is the "00" lines.

What I would like is to do the ATR and the days of the week mod. Also, how those 2 indicators can be put together so an Alert shows on MT4 when any of the Forex pairs reaches those levels? Would that be an EA or any template?

Many thanks, I hope you find this interesting.

[Apprentice]

Your request is added to the development list.
Development reference 1631.

[Apprentice]

I don't understand how it should work. How ATR should affect Pivot?
And it's unclear how it should be combined with 00 levels (there are lot of these values and we always above/below some 00 level.

[Bowling]

Thanks for having a look into it.

First, the strategy is based to catch the Pull Backs and Throwbacks in an area where there are confluence of ATR, 00 levels and and Pivot Points. So, confluence of 3 different variables.

We need,

- Daily Pivot Points
- ATR 14 daily 14 days: create a box with 20% levels (iw. 120%, 80%)
- 00 levels ('50,'00)

Can this be implemented as a scanner for all 28 fx pairs with a pop up alert? Once I receive the alert I will have a look to the price and I will see that the price has reached a Pivot Point, will be in the area of the daily ATR and the price has cross the '00, '50 levels. Price will most likely retrace, so with price action I will be able to enter the trade.

A template would be great, with buttons to display "Round numbers", "Pivots levels", "ATR" ?

Thanks

[Apprentice]

I still don't understand the exact rules required.

[Bowling]

Hi Apprentice, thnks for your reply.

Let's try to start from the beginning as I believe got wrong on the strategy. Instead of ATR, I should have put "ADR", my fault.

So, can an indicator been built with the below?
- Daily, Weekly, Monthly Pivot Points. To select which ones to show on the graph from the inputs

- ADR: Average Daily Range, please draw a range box from the ADR value, ie. 20% high and 20% low range, for both the High and the Low values. To select from the inputs the number from which days to calculate the ADR.

- Round Number: '00 and '50

The indicator should be able to provide those levels for the number of days you select from the Inputs.

Last one, can you create buttons where you can select from the Graph which Indicators you want to select?

I hope it make more sense now...

Thanks,

[Apprentice]

Your goal is to have, ADR based pivot point look alike.
My question, what will be the starting point?
Pivot point line, Mid point between day low and day high?

What if we l draw different percentages between day low and day high.

[Bowling]

Hi Apprentice, I draw some picture so I hope it is a bit clearer now.

Would like to add the buttons, so the lines and the ADR does not stand on my graphs, I like the graphs to be clean so I can focus on the price action.

Any queries, let me know...

Thanks,

[Apprentice]

Your request is added to the development list.
Development reference 1897.

[Bowling]

Hi, to mention that I would like the indi to plot historic data for backtesting...

Thanks,