VoltyChannel_Stop

Hi,

This indcator is improved version of the VoltyChannel_Stop which I developed many years ago. Now we have sepatate inputs for the Upper/Lower Band Price with ability to use 26 types of Moving Averages.
Plus I added the new important parameter - Ratchet:

• < 0 - stops follow by the channel strictly
• = 0 - stops move in one direction(similar to old versions)
• > 0 - stops follow by the channel with Multiplier which will gradually decrease with each new HH/LL for uptrend or downtrend respectively.

Code:

//---- input parameters
extern int     TimeFrame            =     0;    //TimeFrame in min
extern int     UpBandPrice          =     0;    //Upper Band Price(ex.2 for High)     
extern int     LoBandPrice          =     0;    //Lower Band Price(ex.3 for Low) 
extern int     Length               =     1;    //MA Period
extern int     MA_Mode              =     0;    //MA Method(see list above)
extern int     ATR_Length           =    10;    //ATR's Period
extern double  Multiplier           =     3;    //Volatility Multiplier   
extern double  Ratchet              =   0.0;    //Ratchet(-1-off,>= 0-on) 
extern double  MoneyRisk            =  1.00;    //Offset Factor(eg.1.2)

extern int     SignalMode           =     1;    //SignalMode: 0-off,1-on 
extern int     LineMode             =     1;    //Line mode : 0-off,1-on  
extern int     DotMode              =     1;    //Dot mode  : 0-off,1-on  

extern string  alerts               = "--- Alerts & Emails ---";
extern int     AlertMode            =     0;
extern int     SoundsNumber         =     5;    //Number of sounds after Signal
extern int     SoundsPause          =     5;    //Pause in sec between sounds 
extern string  UpSound              = "alert.wav";
extern string  DnSound              = "alert2.wav";
extern int     EmailMode            =     0;    //0-on,1-off   
extern int     EmailsNumber         =     1;    //0-on,1-off

Attachment 1424

UPDATES:
2013.11.29 - version v6.1: 2 minor bugs fixed.


Regards,
Igor

Thanks a lot Igorad. I was using old version for the long time and it is great indicator and good improvement.

I just found trading system with EA created within TradingSystemForex forum for the old version of VoltyChannel_Stop indicator. So, it is the trading system :

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Developed by Toxic here.

Friends,

I call the system “FxMatrixPro”….all the indicators of my systems are collected from different online communities and forums…..so I am grateful to all those forums…..I renamed those Indicators….hope original owners wouldn’t mind

FxMatrixPro And Why?
Trend is your best friend…..I am a trend Trader……but I take short rides-short journey……Because my account size is small so I can’t afford huge loss or big SL…..So, I accept maximum 10-20 SL for each Trade….I prefer TF 1M or 5M….beccoz bigger the TF>bigger the SL>bigger the loss…smaller the TF>smaller the SL>smaller the loss….So, this system satisfies my needs and wants…. This system is all about catching and predicting Trend….just look at all images you will know how easy to define the trend and predict the next trend or change of trend….

Defining the Trend (see Introduction Image)
In the “Introduction of the System” image I marked all my indicators….plz read them to understand my system….my first job is to defining the trend correctly….how do I define the trend?

If Standard Deviation Channels (SDC) are in the uptrend and SMA (Period 20 with OHLC/4) is in the same direction then I call that a uptrend….if MA (Trend Alex –at the bottom), FXTraderPro T or R (at the very bottom) and other Indicators (at top right corner) of Different TF are Green I call that a Pure Uptrend….and Vice Versa…..when I am happy with the trend I take trade (see 1st image – pure example of a good trede)…..it need not to be a pure trend……if it is a pure trend I make my move more aggressively by increasing lot…..if I am not happy with the trend or it is a conflicting trend I don’t take any trade….

Conflicting Trend (see the Conflicting Trend Image and the Next Image)
When SCD is in the Uptrend and SMA is in the Down-Trend I call that a Conflicting Trend….it’s always better not to take any kind of trade in this type of situation….becoz this could be an indication of trend change…see the example….how I avoided and predict the next trend….also try to avoid taking trade when there is not trend or it is in Range (see last two examples or Images)…..but if you can predict what could be the upcoming trend then make your move with tight SL….sometimes we could miss big waves by avoiding conflicting trend or Range but don’t be greedy….thing about the opposite.…that may give you a consolation….and Forex will be here for us forever….don’t rush…

Entry
When I am happy with the uptrend and Volty Channel Stop (VCS) gives me a White Circle I take only Long….but before I make my move I look at the 1M TF’s situation….in 1Min TF I must have VCS in the upward…if VCS is in the downward then I wait for the next white circle to appear in 1M TF to take my Long….and Vice Versa…

Exit
With 5M TF I set my SL 10-15 and I Exit my Position in the next Signal….if I take long, I exit when Red Circle appears in my 5M TF….and Vice Versa…..sometimes I take a trade with SL 10, PT 10 and lot 0.1….then I start increasing Lot like 0.2, 0.4, 0.8 and so on until I hit my PT 10….but I suggest you to do it when you are comfortable with the system….however, that strategy works very well as well…becoz of good ratio of Win/loss…..

Conclusion
It is a very simple system for small traders….almost 7 out of 10 trades click….becoz you are catching the trend but making small journey…..system will tell you whether trend is in up, down or range….and you will act accordingly….and Haikin Ashi will help you not to panic….don’t trade High spread with this system in Small TF…..if you use it for High spread use a 20 SL….you can try it with all time Frames…..works with all time frame very very well…..but adjust your SL according to your TF……just give it a try, this system wouldn’t disappoint you…..just trust me it wouldn’t….

Remember One thing if you are not happy with the trend don’t trade…..don’t fight against the trend or market….go with the flow….and don’t be emotional.....listen to your brain not your heart….and this system will help you to do so….

always always always remember - No Trade is a Part of Trade

Long
SDC = UPTrend
SMA = UpTrend
VCS = White Circle
If Pure Up Trend = High Risk with big lot (optional)

Short
SDC = DownTrend
SMA = DownTrend
VCS = Red Circle
If Pure DownTrend = High Risk with big lot (optional)

Exit
IF Long = Red Circle
If Short = White Circle
Or MM with 10-15 SL and 10-15 PT (optional)

Note – If anybody can come up with better findings or Long/Short/Exit strategy I will very happy….Download the Zip File…..you will get all required Indicators and Template for this system….I will be waiting for your feedback….

Happy Trading and Thx for reading

With Regards
Toxic

more to follow ...

continuing ...

after range :

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And please find attach the simple EA which was created for old the version of this indicator (indicator and EA are inside zip file).

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PS. Next version with timefilter is attached (VoltyChannel_Stop EA v1.1)

Next update

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VoltyChannel_Stop indicator for Metatrader 5 - MT5 CodeBase - download from here.

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It's all that I found about this indicator.

Important: Please download fixed version v6.1.

Thanks Igor for this awesome update.

Hello Igorad,

I have compared the last version of price channel stop v9.2 with volty channel stop v6.1. I have seen that in price channel stop when the price is set to median price, aside from using the median prices for the channel level calculations, the dots change direction when the current candle's median price breaks the channel. But in the volty channel stop v6.1 when the price is used as median price, median prices of candles are used for channel level calculations only.

Can you also make a new version in which the dots in volty channel stop changes direction when the median price of the candle breaks the channel (in case median prices are used in the inputs menu) without changing the algorithm of the indicator. I only want the changing direction of the dots to occur when the set price level of the candle breaks the channel.

Thank you very much..

Originally Posted by msepn77

Hello Igorad,

I have compared the last version of price channel stop v9.2 with volty channel stop v6.1. I have seen that in price channel stop when the price is set to median price, aside from using the median prices for the channel level calculations, the dots change direction when the current candle's median price breaks the channel. But in the volty channel stop v6.1 when the price is used as median price, median prices of candles are used for channel level calculations only.

Can you also make a new version in which the dots in volty channel stop changes direction when the median price of the candle breaks the channel (in case median prices are used in the inputs menu) without changing the algorithm of the indicator. I only want the changing direction of the dots to occur when the set price level of the candle breaks the channel.

Thank you very much..

Hi msepn77,

Please check out the updated VoltyChannel Stop indicator with ability to choose the breakout price mode(BreakOutMode parameter):

• 0 - by Close
• 1 - by Upper/Lower Band Price
• 2 - by Upper/Lower MA(Length,MA_Mode)

Attachment 5414

Important Note. VoltyChannel_Stop_v6.3 is for the new MT4(build 600 and above).

Regards,
Igor

Originally Posted by igorad

Hi msepn77,

Please check out the updated VoltyChannel Stop indicator with ability to choose the breakout price mode(BreakOutMode parameter):

• 0 - by Close
• 1 - by Upper/Lower Band Price
• 2 - by Upper/Lower MA(Length,MA_Mode)

Important Note. VoltyChannel_Stop_v6.3 is for the new MT4(build 600 and above).

Regards,
Igor

Hi Igor.

Sorry but I've downloaded the above file(s) and placed them in the correct folder, but I can't see/add them. What do I do wrong? Do I have to compile them first, or...?

Pixie