Barabba,
Did you program it yet? I'm browsing the web for it and can't find.
Thanks
Here is the code in mq4. Sorry, I haven't gotten the hang of NT yet.
//+------------------------------------------------------------------+
//| Elders Safe Zone.mq4 |
//| Cubesteak |
//| www.cubesteak.net (http://www.cubesteak.net) |
//+------------------------------------------------------------------+
#property copyright "Cubesteak"
#property link "www.cubesteak.net (http://www.cubesteak.net)"
//----
#property indicator_buffers 1
#property indicator_color1 Red
#property indicator_chart_window
//----
extern int LookBack=10;
extern int StopFactor=2;
extern int EMALength=21;
extern color LineColor=Crimson;
//----
double ExtBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexBuffer(0,ExtBuffer);
SetIndexStyle(0,DRAW_LINE,2,1,LineColor);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double SafeStop=0;
int counted_bars=IndicatorCounted();
int limit=Bars - LookBack - 3;
for(int shift=limit;shift>=0;shift--)
{
double EMA0=iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift);
double EMA1=iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift+1 );
double EMA2=iMA(Symbol(),0,EMALength,0,MODE_EMA,0,shift+2 );
double PreSafeStop=ExtBuffer[shift+1];
double Pen=0;
int Counter=0;
if (EMA0 > EMA1)
{
for(int value1=0;value1<=LookBack; value1++)
{
if (Low[shift+value1] < Low[shift+value1+1])
{
Pen=Low[shift+value1+1] - Low[shift+value1] + Pen;
Counter=Counter + 1;
}
}
if (Counter!=0) SafeStop=Close[shift] - (StopFactor * (Pen/Counter));
else SafeStop=Close[shift] - (StopFactor * Pen);
if ((SafeStop < PreSafeStop) && (EMA1 > EMA2)) SafeStop=PreSafeStop;
}
if (EMA0 < EMA1)
{
for(value1=0;value1<=LookBack; value1++)
{
if (High[shift+value1] > High[shift+value1+1])
{
Pen=High[shift+value1] - High[shift+value1+1] + Pen;
Counter=Counter + 1;
}
}
if (Counter!=0) SafeStop=Close[shift] + (StopFactor * (Pen/Counter));
else SafeStop=Close[shift] + (StopFactor * Pen);
if ((SafeStop > PreSafeStop) && (EMA1 < EMA2)) SafeStop=PreSafeStop;
}
PreSafeStop=SafeStop;
ExtBuffer[shift]=SafeStop;
}
//----
//----
return(0);
}
//+------------------------------------------------------------------+
Here it is in MetaStock. I have stripped out the information headers to save space but the author is Jose Silva.
{ User inputs }
coefficient:=2;
bkpds:=10;
pds:=21;
adv:=1;
type:=1;
plot:=1;
{ Downside penetrations }
DwSidePen:=
If(type=1,Mov(C,pds,E)>Ref(Mov(C,pds,E),-1),1)
AND L<Ref(L,-1);
DwSideDiff:=If(DwSidePen,Ref(L,-1)-L,0);
DwPenAvg:=Sum(DwSideDiff,bkpds)
/Max(Sum(DwSidePen,bkpds),.000001);
StLong:=Ref(L-DwPenAvg*coefficient,-1);
StopLong:=If(C<PREV,StLong,Max(StLong,PREV));
{ Upside penetrations }
UpSidePen:=
If(type=1,Mov(C,pds,E)<Ref(Mov(C,pds,E),-1),1)
AND H>Ref(H,-1);
UpSideDiff:=If(UpSidePen,H-Ref(H,-1),0);
UpPenAvg:=Sum(UpSideDiff,bkpds)
/Max(Sum(UpSidePen,bkpds),.000001);
StShort:=Ref(H+UpPenAvg*coefficient,-1);
StopShort:=If(C>PREV,StShort,Min(StShort,PREV));
{ Stop signals }
entry:=Cross(Typical(),Ref(StopShort,-1));
exit:=Cross(Ref(StopLong,-1),Typical());
{ Clean signals }
Init:=Cum(IsDefined(entry+exit))=1;
bin:=ValueWhen(1,entry-exit<>0 OR Init,
entry-exit);
entry:=bin=1 AND (Alert(bin<>1,2) OR Init);
exit:=bin=-1 AND (Alert(bin<>-1,2) OR Init);