Hi

As promised this is the indicator I am developing based on TraderAny's EMA_RSI post at
http://www.forexoma.com/forums/viewtopic.php?f=6&t=206

Please note that this is a 'work in progress' project to help me learn to program indicators. It should not be used for real. I haven't yet tested it to ensure that it does what it should in all cases.

I'm only posting the EX4 file at the moment, not the source code. I'll post that when the development is complete and the code is tidy

The indicator shows when
Fast EMA crosses above slow EMA and RSI > set level (default 50)
Fast EMA crosses below slow EMA and RSI < set level (default 50)

Development Plan

Phase 1 - It draws arrows on the chart - Done.
Phase 2 - Modify code to hold arrows off until candle complete.
Part complete, need to finalise.
Phase 3 - Make it display and email an alert.
Phase 4 - RSI Variables. See note below.
Phase 5 - Add highlighting of some candlestick patterns.


Copy to your /experts/indicators folder then select it by insert/indicators/custom/EMA_RSI

RSI Variables.
I will be adding High and Low limits for the RSI so that alerts can be filtered out if the RSI is too high or low to take the trade.
I have included a variable RSI_Centre which allows the user to select a value other than 50. This will be expanded so that there is a separate limit for buy and sell indicators.

All the best

Michael
Edited to correct my name

Thanks Michael

Hi all

Update attached.

Phase 1 - It draws arrows on the chart. - Done.
Phase 2 - Modify code to hold arrows off until candle complete. - Done subject to any feedback from other users
Phase 3 - Make it display and email an alert. - Done
Phase 4 - RSI Variables.
Phase 5 - Add highlighting of some candlestick patterns.

For the alerts in Phase 3 there are two new variables with defaults as shown, change these to suit yourself.
ShowAlerts = True
MailAlerts = False

ShowAlerts will cause the alert pop-up to be displayed.
MailAlerts will cause the alert to be emailed if the settings under Tools/Options/Email are configured for sending email.
NOTE: At the moment MailAlerts only works if ShowAlerts is also True.

Please feed back any comments or issues discovered.

Michael

Hi Michael

Well done, that can be helpful. How do you enter an email alert. How far have you gotten with completing this indicator.

Thanks

Hi Forexstudent

In your MetaTrader platform select Tools then Options then Email and enter the required settings. These are usually the same settings that your email program uses. If you only use webmail you'll have to check your service provider to see if you can get the info required.

Once that is done you need to set the MailAlerts and ShowAlerts variables to True in the indicator.(Charts - Indicator List, select EMA_RSI then Edit)

I'll be changing that section soon to make them independent of each other. I am working on Candlestick pattern recognition at the moment, hopefully I'll get that added in the near future.

I'd appreciate any feedback on the indicator so far...

All the best

Michael

Hi Michael,

Please can you tell me what you make of the following GBPUSD H1 chart.
For some reason not all the arrows appear, for example on the 30 Nov a red arrow should have been triggered, on 01 Dec a blue arrow and also for the 03 and 04 Dec a red then blue then red arrows should have been triggered.

The visualisation is set for all timeframes and yet on the H4 chart no arrows appear.

As I know nothing about programming it could well be that I am not carrying out all the full procedure.
Thanks and regards,
aquiagora

Hi aquiagora

In my updated version there were grey arrows where you expected the red/blue ones. I rechecked my code and found two issues.
1 I was using the RSI from the previous bar for calculating, rather than the current bar - Doh!
2 A crossing of the EMAs was detected when they went from slow < fast to slow > fast, or vice versa. No account was taken for when they had the same value. This has now been changed to slow <= fast to slow > fast and slow >= fast to slow < fast.

I have corrected these errors and recompiled the indicator. This version also has the grey arrows, see my post in the other thread for some discussion on that.
Please let me know if you spot anything else. It is invaluable having someone else looking for errors

Hi Michael,

I hope you had a good night/morning sleep.
Anyway, I have deleted the previous EMA_RSI indicator and tried to install the latest version (several times) but for some reason I still only get blue and red arrows only and no grey arrows. Also on H4 timeframe no arrows at all.
Under the section colors in the Custom Indicator box it just shows blue and red.

How can I overcome this as the download seems to run without any delay or interruption?
The first time I downloaded I was asked if I wanted to replace the existing version and I said yes.
The second time I deleted the file before downloading the new version and it still doesn't seem to be the new version.

Interesting to see that the Russian guy has almost the same system. The difference in EMA must be negligible (I see weboma visited the site about 12 hours ago).
I had been considering if trading this in the H4 timeframe would be workable but it seems H1 is the best. I am sure there must be thousands of manhours of trial and error to have come to the conclusion that the H1 timeframe is the most reliable.
Thanks and regards,
aquiagora

Hi aquiagora

Probably stating the obvious but have you tried shutting down and restarting MetaTrader? If that doesn't work the other option may be to delete the EMA RSI indicator from your chart then re insert it. Other than that I'm struggling to think of what else could be the problem.

If anyone else has the time to check this out and comment I'd appreciate it.

Michael

Hi Michael,

I have just deleted it from the chart under the Chart section - before I just tried under Indicators to delete it and not Charts. I also deleted it from my Program File and have downloaded it again and restarted - this time the blue and red arrows appear on all time frames but I still ain't got no grey arrows.

What else could I do to have the grey arrows?

Thanks,
aquiagora

I deleted my copy and reinstalled from the download. I don't have any grey arrows either!!
I'll investigate and get back to you...

Michael

Fixed - I think!

Please let me know.



Michael

Bingo! - thanks.

aquiagora