molanis.com/forum - Tools for MetaTrader : The place to ask about the best expert advisor builder, expert advisor downloads, and expert advisor programming

Hello Molanis

I want to build an indicator that combines input from five other indicators: Momentum, RSI, MACD, Moving Average and ADX, as well as price position from the previous candle. I want to give a simple numerical value to each indicator value for a possible total of 25 points for a long trade. So then this new custom indicator would show values from 1 to 25 in a seperate window on the chart. The CIB value (between 1 and 25) would indicate the overall condition that would be favourable to a enter a trade. The higher the number in the indicator window, the more favourable the condition would be to enter the trade. (Also -1 to -25 for sell).

I don't want five seperate indicator lines in one window because each indicator has its own type of numerical value and scale could not be properly shown to scale if they were put on one window all at once. Therefore I want to transfer each indicator value condition to a numerical value first and have the scale from -25 to +25.

Can this be done?

Thanks, AlGer

For example (regards my previous post),

If Momentum 14 is higher than 100 and is rising, (current bar value is greater than previous bar value) then it is assigned a value of 2
If momentum 14 is higher than 100 and is rising compared to 2 bars ago, then this indicates a possible trend, and it is assigned a value of 1
If rsi is over 50 and rising (current bar value is greater than previous bar value) then it is assigned a value of 2
If rsi is over 50 and is rising compared to 2 bars ago, then this indicates a possible trend, and it is assigned a value of 1
If macd value is higher on current bar than previous bar then it is assigned a value of 1
If macd value is higher than its signal line, then assign it a value of 1
If the +DI line is higher than the -DI line , then assign a value of 1
and so on and so on...... for a total possible value of 25 in the case of displaying a value for a possible buy entry.

Is it possible to do this with the MT4 CIB?

Cheers, AlGer

Second Question:

I want to be able to design an indicator that will be able to determine how many related currency pairs are showing a positive trend in a given time frame compared to the other related currency pairs in that group.

For Example, there are seven currency pairs related to the Euro. If I look at all seven at once in a profile on MT4 in the 4 hour Time Frame and if I use a 13 period moving average to determine the trend up or down, I will see some of those Euro currency pairs with an uptrend and some with a down trend. If all are up and none are down, then I want my indicator value to show +7 meaning all currency pairs on MT4 are showing a positive trend on the 4 hr chart.

Similarly, if 6 are showing up and 1 is showing a flat moving average, then the value would be +6. If 6 were showing up and 1 is showing a downtrend, then the value would be +5, meaning there are 5 more pairs showing an uptrend compared to the number of pairs showing a downtrend in that time frame. If the value is 0, that would mean there are just as many related currency pairs with an uptrend as there are with a down trend.


Therefore the custom indicator, shown in a seperate window would have the values -7 to +7, with a level of 0 in the middle. A single line would connect the different values from one candle to the next.

Would I be able to design a custom indicator in MT4 like this?

Cheers, alGer

The current version does not support if conditions. You need conditions to build the indicator you want.

Is, or do think Molanis will be working on providing an upgraded version of CIB supporting if conditions?

Will do but will take some time (months)