Sunday, February 28, 2016

Custom Indicator Development

This is an example of a custom indicator that I have developed for a client. It's essentially a type of "scanner" - checking multiple instruments and timeframes for bullish / bearish crosses using the Ichimoku indicator.

In addition to providing visual indication, it can also provide alerts (sound, pop-up or email). So, it will alert you when a specified condition occurs (on any of the monitored instruments or timeframes).


Of course, this type of "scanner" idea can be used for anything, e.g. price crossing moving averages, "golden cross" (50/200 MA cross), candle patterns, etc.

Monday, February 22, 2016

Stocks, oil and gold (from 1/1/2016)

Look at the % change and correlation of major stock indices, oil and gold since the start of the year.

GBP down after UK / EU deal

The UK / EU "deal" finally over, and the main UK politicians have joined campaigns either for Brexit or against it. GBP down over the weekend.

Friday, February 19, 2016

Oil sliding lower

Well the "deal" on oil doesn't seem as good as hoped for: 1) it was a freeze not a cut (and a freeze at record high levels to boot), 2) Iran "supports" the idea of the deal (but didn't actually say that it would take part in it), 3) Saudi Arabia said it won't cut.

So, the gloss has worn off and the gains made earlier in the week, have all but re-traced. Oil is back below $30.

Thursday, February 18, 2016

Support / Resistance indicator (Release 3)

I just uploaded Release 3 of this indicator.

Release 3:
  • Indicator now loads its own historic data, so it can identify and display support / resistance zones that are beyond the normal chart data area
  • Additional support for external signals and strategies

The first point means that the indicator can load more data that is actually used (or visible) in the chart. The second point means the indicator generates "outputs" (showing the nearest 3 support and nearest 3 resistance levels), these can be used to trigger events (such as alerts) in other indicators / strategies.

For more information on the Support/Resistance indicator look here.

Tuesday, February 16, 2016

Oil - buy the rumour sell the news

Definitely a case of "buy the rumour sell the news" in oil. Oil and risk assets rallied overnight and into the early trading on signs of a deal at Opec. However, the Saudis only agreed to a "freeze" where many were expecting "cuts". Oil currently retracing most of the earlier gains.

Friday, February 12, 2016

Highs and Lows (Release 3) - now with alerts !

I've just uploaded a new release of the Highs and Lows indicator. It now supports alerts!

Release 3:
  • Added alerts

More information can be found here.

DAX - scalper's dream on day like today

DAX has been a scalpers dream today, lots of rotation with reasonable size swings. The Support / Resistance indicator is really working well too. Combined with the Session Lines, this is looking like an awesome combination.

Big Round Numbers (Release 2) - now with alerts !

I've just uploaded a new release of the Big Round Number indicator. It now supports alerts!

Release 2:
  • Added custom level
  • Added alerts

More information can be found here.

Tuesday, February 9, 2016

Monday, February 8, 2016

Support / Resistance Indicator

Swing highs and swing lows show previous turning points in a market. These are places where supply overcame demand or demand overcame supply.

They are natural choices for projecting support and resistance levels. Every swing point is a potential support or resistance level. However, for effective trading, we should focus on major swing highs and swing lows.

The Support/Resistance indicator identifies significant swing highs and swing lows in the price action. There are 2 parameters that control this: the “strength” and the “minimum delta”.

The “strength” defines a range of bars, such that a swing high (or low) is only identified if it is the highest (or lowest) price in this range. For example, a “strength” value of 5 defines a range 5 bars to the left and 5 bars to the right of the candidate swing point.

The “minimum delta” defines an additional criteria, such that the difference between the candidate swing high (or low) and the lowest (or highest) bar in the tested range must also be a minimum certain size (in pips).


The combination of “strength”, “minimum delta” and the time-frame that you use allows the indicator to find swing points of various significance according to your preference.

When a swing high (or low) is identified, a resistance (or support) zone is created and projected on the chart to the right of the swing point.

A zone is used rather than a distinct level in order to take into account that these levels are rarely an exact price, and a degree of under-shoot or over-shoot is usually experienced. This under-shoot / over-shoot can be caused by the front-running of significant levels, stop hunting, or simply due to the random noise of price action.

Identified resistance zones persist on the chart until the price breaks above it, at which point a “flip-zone” is created (i.e. previous resistance becomes support).

Identified support zones persist on the chart until the price breaks below it, at which point a “flip-zone” is created (i.e. previous support becomes resistance).





This indicator is now available on the store.

Risk-off start to the week

Lower China FX reserves and oil seems to be driving the markets lower this morning. Also, follow-through from Friday's NFP.


More information about the Multi-Compare Indicator can be found here.

Sunday, February 7, 2016

Session Lines (Release 10)

I've just uploaded a new version of the Session Lines indicator.

Release 10:
  • Added option not start sessions on Sundays

Basically, this overcomes an issue with Sunday data causing a short (and not very useful) session, also it means that the "previous high/low/mid" relate to Friday's session. Sunday data is not totally ignored however, it basically gets absorbed into Friday's session.

More information on the Session Lines indicator can be found here.

Tuesday, February 2, 2016

Big Round Numbers Indicator

The "big round numbers" (e.g. EUR/USD 1.2800, USD/JPY 99.00) are natural levels of support and resistance. These are psychological levels (easy for humans to think about), as well as "lazy" levels when setting entries or profit targets. Additionally, the importance of the big round numbers has also increased because they are used for options barriers levels.

As a result, a lot of orders are placed around these levels.

The “Big Round Numbers” indicator is a very simple but effective indicator that high-lights these levels on your charts. The indicator can be set to show levels of 50, 100, 250, 500 and 1000 pip increments. Of course, colours and line widths are customizable.

The indicator can now provide “alerts” on live markets, when price crosses one of the displayed levels.





This indicator is now available on the store.

Big Round Numbers Indicator

The "big round numbers" (e.g. EUR/USD 1.2800, USD/JPY 99.00) are natural levels of support and resistance. These are psychological levels (easy for humans to think about), as well as "lazy" levels when setting entries or profit targets. Additionally, the importance of the big round numbers has also increased because they are used for options barriers levels.

As a result, a lot of orders are placed around these levels.

Hot off the press, is a very simple indicator that high-lights these levels on your chart. The indicator can be set to show levels of 50, 100, 250, 500 and 1000 pip increments. Of course, colours and line widths are customizable.


This indicator will be available on the store soon.

Highs and Lows indicator

The highs and lows of the current day, week, month or year can often be significant levels for trading. These are places where stop loss orders tend to accumulate, and the levels can be targets for stop-runs, reversals, and key levels for break-outs. They can also often act as support and resistance.

There is no one strategy that works in all cases, but something significant usually happens at these levels, and so it is clearly useful to have them marked on your charts, as key reference levels.

The indicator can show the high/low levels for current day, week, month, year and 52-week periods. Of course, colours and line widths are customizable.




 This indicator is now available on the store.

Monday, February 1, 2016

Highs and Lows Indicator

Just putting the finishing touches to a simple, but useful indicator. It shows the highs and lows for current day, current week, current month, current year and 52-week period. These are shown as coloured semi-transparent bars on the chart.

These levels are important, for support/resistance, break-out ranges, stop-loss clusters, etc.


The indicator is ready, just need to complete the documentation.

Multi-Instrument Compare