Consensus of Five

Here you can post and download custom indicators. PLEASE: Do not start topics unless you are posting your own indicator, they will be moved to appropriate section even if you do.

Consensus of Five

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

green color:
4. dmi positive > dmi negative
5. stochastic k> stochastic d and d< ob level

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

else
blue

Consensus of Five.lua

MTF MCP Consensus of Five.lua

MT4 version is available here.
viewtopic.php?f=38&t=61082&p=107618#p107618

Apprentice
FXCodeBase: Confirmed User

Posts: 29192
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Consensus of Five

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

Posts: 44
Joined: Fri Dec 28, 2012 1:27 am

Re: Consensus of Five

Requested can be found here.
viewtopic.php?f=31&t=29545

Apprentice
FXCodeBase: Confirmed User

Posts: 29192
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Consensus of Five

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`
zoltanh

Posts: 22
Joined: Tue Aug 26, 2014 2:24 pm

Re: Consensus of Five

Fixed.

Apprentice
FXCodeBase: Confirmed User

Posts: 29192
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Consensus of Five

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
zoltanh

Posts: 22
Joined: Tue Aug 26, 2014 2:24 pm

Re: Consensus of Five

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

If not can one be made??

Thankss!
jay1994

Posts: 73
Joined: Wed Jul 24, 2013 6:31 pm

Re: Consensus of Five

Apprentice
FXCodeBase: Confirmed User

Posts: 29192
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Consensus of Five

Requested can be found here.
viewtopic.php?f=38&t=61082

Apprentice
FXCodeBase: Confirmed User

Posts: 29192
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Consensus of Five

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