Forex Abiroid ProfitPercent Scanner MA Confluence MT4 Indicator:
About the Forex Abiroid ProfitPercent Scanner MA Confluence MT4 Indicator
Main Signal Indicators (Any One): MA Cross (In-built) or Hull, OBV Cross, Heiken Ashi Cross
Validation Indicators (Preferably less than 3): OBV (with Min Distance), Heiken Ashi, ADX, SuperTrend, PSAR, Higher TimeFrame EMA Alignment
Main Signal will first generate a BUY/SELL Signal when:
If MA Cross True:
- BUY: Fast MA crosses Slow MA upwards
- SELL: Fast MA Crosses Slow MA Downwards
If OBV Cross True:
- BUY: OBV Crosses OBV-MA upwards
- SELL: OBV Crosses OBV-MA downwards
If Heiken True:
- BUY: Heiken Changes from Bearish to Bullish
- SELL: Heiken Changes from Bullish to Bearish
If MA Cross is true and OBV Cross and Heiken are also True, it will only use MA Cross as Main Signal. While OBV and Heiken will be used as Validating Signals.
There can be only 1 Main Signal which will generate the BUY/SELL Arrows. All other indicators will be used for validation only.
Once a BUY/SELL Signal is generated, it will check all validating indicators and see if they also indicate a BUY/SELL.
If they don’t validate, then signal is ignored. Or else if everything is in Confluence then you will get a BUY or SELL Arrow and SL and TP lines will be generated.
All Signal Settings:
MA Cross Checks (Main Signal)
- MA (In-Built with MT4)
- Hull MA
OBV Cross Check (Main or Validation)
In Dashboard, for MinOBVDist (Minimum OBV Distance) you can also set different values for different timeframes. This will also work in Arrows Indicator.
It’s useful in arrows because you might want to save a common template that the dash will open. And would like all values to be preset.
OBV-MA: Is the Moving Average of “OBV_MA_Period” number of last OBV Values. Using “OBV_MA_method” Moving Average Method.
BUY: OBV should be at least Min Distance above OBV-MA
SELL: OBV should be at least Min Distance below OBV-MA
Heiken Cross Check (Main or Validation)
BUY: Heiken should be Bullish
SELL: Heiken should be Bearish
ADX should be above Threshold for both BUY and SELL
BUY: +DI should be above -DI
SELL: -DI should be above +DI
BUY: SuperTrend should indicate Buy (Blue)
SELL: SuperTrend should indicate SELL (Orange)
BUY: PSAR dot should be under the price
SELL: PSAR dot should be above the price
EMA Higher Timeframe Align (Validation)
If Number of timeframes is 3, it will check current timeframe alignment with 2 higher timeframe alignment.
If all are aligned with Main Signal, then it will allow the signal.
Dashboard Indicator Settings:
The scanner dashboard will also have the same settings as the Arrows indicator.
Note: Don’t use too many validating Indicators as it might slow down the Dashboard a lot when using too many pairs and timeframes.
If using 1 Main Indicator and 3 validating indicator, it can take about 2-4 seconds for an individual pair/timeframe. Depending on Validating indicator used.
SuperTrend is slower than remaining. And Multi higher timeframe EMA Checks can also slow it down, if check is for too many higher timeframes.
Best configuration is to use 1 Main Indicator and 2 Validating indicator.
Profitable setup Example:
OBV Cross (Main Signal)
gives great percentages for Forex M15+ trade pairs.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)