User lines on chart as filter

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Let's discuss this idea.

Imagine you know the future (like Sai ;) and want to tell EA: "don't open BUYs under this level" or "open new BUYs only above this trend line".

How do you see it?

How it can be improved?

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Adding a filter with prices as input

The idea is to trade small range bound identities or whenever currency is moving in range bound zone.

Say for example, NGUSD, we will buy in grid/martingale as long as it is between 2 to 6. and sell between 6 to 10. And close the trades when reaches certain global profit. May be we need to be careful when the entity reaches the boundary and needs refinement/study further/SL.

Simply we can disable trades as desired based on the current price and enable martingale. But it does not help the backtest feature.

Hence calls for requirement of the filter with input as prices i.e. buy between a & b and sell between x & y.

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Forex Trader
Quote from Andrey Khatimlianskyi

You can add this indy and these signals as new idea here

any update about these lines? thank you

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Forex Trader

cool idea

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Forex Trader

i think it is better with lines, draw lines and make ea trading between these lines will be more convenient than prices.

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Andrey Khatimlianskyi
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Quote from Forex Trader

i think it is better with lines, draw lines and make ea trading between these lines will be more convenient than prices.

You're right, ideas are very similar. I've merged the topics and started working on this filter.

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I'm going to make it simple and universal.

Line name: uniq object name to work with

Work mode:

  • Buy above / Sell below
  • Buy on cross UP / Sell on cross DN

Distance: distance from the line to activate the filter.

For example, in Buy above mode, with Distance = 10 points, Buys will be allowed only if price >= line + 10 points. With Distance = -5, Buys will be allowed if price >= line - 5 points.

Distance calculation type: points / volatility

Reverse mode: reverse all signals (Buy below, Buy on cross DN).

Use closed bars only: analyze signals on bar close only.

TimeFrame for Use closed bars only mode.

Any suggestions?

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And to add 2 or 3 instances, of course.

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Forex Trader
Quote from Andrey Khatimlianskyi

I'm going to make it simple and universal.

Line name: uniq object name to work with

Work mode:

  • Buy above / Sell below
  • Buy on cross UP / Sell on cross DN

Distance: distance from the line to activate the filter.

For example, in Buy above mode, with Distance = 10 points, Buys will be allowed only if price >= line + 10 points. With Distance = -5, Buys will be allowed if price >= line - 5 points.

Distance calculation type: points / volatility

Reverse mode: reverse all signals (Buy below, Buy on cross DN).

Use closed bars only: analyze signals on bar close only.

TimeFrame for Use closed bars only mode.

Any suggestions?

wow great , thank you :)

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Sai Pratap
Quote from Andrey Khatimlianskyi

I'm going to make it simple and universal.

Line name: uniq object name to work with

Work mode:

  • Buy above / Sell below
  • Buy on cross UP / Sell on cross DN

Distance: distance from the line to activate the filter.

For example, in Buy above mode, with Distance = 10 points, Buys will be allowed only if price >= line + 10 points. With Distance = -5, Buys will be allowed if price >= line - 5 points.

Distance calculation type: points / volatility

Reverse mode: reverse all signals (Buy below, Buy on cross DN).

Use closed bars only: analyze signals on bar close only.

TimeFrame for Use closed bars only mode.

Any suggestions?

Looks great sir.

One doubt sir. Can we have these lines read from another indicator like pivot etc?

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Quote from Sai Pratap

Looks great sir.

One doubt sir. Can we have these lines read from another indicator like pivot etc?

If they have some predefined names, yes. But if they names change dynamically, we will not be able to handle them.

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jay hu
It is a very excellent idea. Please reference the attached linear-regression-channel indicator. I will try to locate the source code of it. Keep up the superb work, Andrey!linear-regression-channel.mp4

linear-regression-channel.ex4