3-drives indicator

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3-drives indicator

Postby krazii » Tue Jan 16, 2024 5:42 pm

Hello, could you please create an MT4 indicator based on the following?

Example:
Image

Requirements:
1. The candle which penetrates the prior low must form the new low
2. The new drive low must close above the prior drive low (OR the next candle must close above the prior drive low)
3. Minimum one candle separation between each drive
4. Each drive low should print an UP arrow accordingly (correction)
5. Configurable look-back period
6. MTF

Optional setting #1: the low of each drive should print a horizontal ray for a configurable number of candles
Optional setting #2: after drive2 has formed (and 1-additional candle has closed without penetrating drive2 low) - enable notification of "potential 3rd drive"
Optional setting #3: after drive3 has formed - enable notification "3rd drive completed w/o confirmation"
Optional setting #4: after drive3 has formed (and 1-additional candle has closed without penetrating drive3 low) - enable notification "3rd drive completed"

NOTE: the opposite pattern (bearish 3-drives) should also be configurable based on the same (inverse) logic.

Thanks in advance!
Last edited by krazii on Sat Jan 20, 2024 11:27 am, edited 1 time in total.
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Re: 3-drives indicator

Postby Apprentice » Sat Jan 20, 2024 4:35 am

We have added your request to the development list.
Development reference 83
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Re: 3-drives indicator

Postby krazii » Thu Feb 01, 2024 4:55 pm

Sorry but this doesn't follow any of my requirements listed above.
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Posts: 12
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