Signal Bars

[Rollins]

Here's a multi signal, multi time frame indicator ported from MetaTrader 4. It works only on the 1min chart and displays EMA (5 vs 9 ), MACD( AVG vs MACD ) and Strength, a combination of CCI, Stochastics and RSI. There could still be some bugs hiding somewhere but results look good.
A description can be found here or posted below.

this is still work in progress, current version v6 looks fine, use with caution.

Limitations: only 1 min charts, only valid if calculated on close(too busy to fix it at the moment)

Edit: mixed up the ema's, my feed was frozen so testing was minimal
Edit v4: corrected a cci bug, macd changed, close time and high/low were wrong
on higher time frames, little testing because part of the internet is unaccessable to me(damn you, ISP)
Edit v5: no functional changes, just added parameters for tweakning the indicator. values seem to be correct.
Edit v6: only changed the cci default period to 13 from 9

[NinjaTrader_JoshP]

Rollins,

Glad to see you got it working! Excellent work. This is pretty nifty. Thanks for sharing.

[Rollins]

Thanks Josh, maybe there is a more elegant solution but I don't know NT so well that's why I went for what works.

Any kind of feedback is appreciated, no matter if positive or negative.
Patches are especially welcome, but pointing out a bug is also ok.

[Rollins]

Time frames are lining up now in v4, other improvements should be minor.
The previous versions were very buggy, i'd advise anyone who sees any use in this indicator to update to the current version.

[KBJ]

Rollins,

Thanks for your work on this indicator.

Do you know where one could get a description of what this indicator shows and how to use it? (Without having to read the code.)

If nothing else is available, perhaps if you could post an annotated screen shot...?

Thanks.

KBJ

[Rollins]

Here's a short description of what the values represent:

EMA:
- fast ema above slow ema -> lime
- fast ema below slow ema -> red

MACD:

- MACD above average and MACD positive -> lime
- MACD above average and MACD negative -> green
- MACD below average and MACD positive -> tomato
- MACD below average and MACD negative -> red

STR:

difficult one, i haven't spent time on figuring out what the values exactly mean, so here is the code

if( RSI > 50 && Stochastics(D) > 40 && CCI > 0 )
col = Color.Lime;
if( RSI < 50 && Stochastics(D) < 60 && CCI < 0 )
col = Color.Red;
if( RSI < 50 && Stochastics(D) > 40 && CCI > 0 )
col = Color.Orange;
if( RSI > 50 && Stochastics(D) < 60 && CCI < 0 )
col = Color.Orange;
if( RSI < 50 && Stochastics(D) > 40 && CCI < 0 )
col = Color.Orange;
if( RSI > 50 && Stochastics(D) < 60 && CCI > 0 )
col = Color.Orange;
if( RSI > 50 && Stochastics(D) > 40 && CCI < 0 )
col = Color.Orange;
if( RSI > 50 && Stochastics(D) < 60 && CCI < 0 )
col = Color.Orange;

[amenlo9]

thanks for the effort.is it possible to add price on it?

[Rollins]

possibles yes, but since I am not using this indicator in my trading and I'm quite busy I have no intention to spend more time on it, sorry.

[tagomi]

I like this tool a lot! I have a suggestion for a modification to make it even better, but don't know how to do. Maybe Rollins or someone of the cracks is interested too.

When in the M1-timeframe, it shows H4, H1, M30, M15, M5, M1
When in the M15-timeframe, all the others < M15 shows the value of M15, what is quite logical.

It would be great when the actual timeframe would be the smallest one. So when in M15-timeframe a shift would happen, like D1, H8, H4, H1, M30, M15.

[mattrader]

Too bad the signal bar can't view in other timeframes. it would be nice if someone familiar with ninja script can improve this indicator, for instance, adding show current price below the signal bar.

[jersey]

For the most part this indicator seems to be working in NT7. The problem I have is I would like to set calculate on bar close to false, it only seems to work on true. I would be thankful for any help to try to fix this.

[cashmoney]

Can this indicator be used for M1 trading? What do you think?