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I need a Metatrader programmer expert that will help me modify an indicator. The indicator draws automatic rectangles based on price action supply and demand imbalances. If we agree and you have the experience to do this, we will need to connect on Skype so that I can share my screen and show you on the charts dozens of examples, it's crucial for you to understand it.
It essentially looks for these areas on any timeframe, draws a rectangle taking into, price labels at the top and bottom of the rectangle and changes the color of the rectangle based on how strong the area is, based on certain parameters.
This is what it essentially does on a H4 timeframe. The same applies to any timeframe, D1, H1, M30, etc. Since price is fractal, the same patterns occur on all timeframes.
You will also find 2 PDF files that explains what the indicator is exactly doing, explained by another programmer. The first file with the name ORIGINAL is just summary of what the creator of this indicator explained about the indicator. The second PDF file is a more detailed explanation of how the indicator draws the zones, what it considers to be a strong, touched and weak zone and how the zones change color and fill/unfilled statuses as they are touched by price.
These are the types of zones detected by the indicator:
• Supply zone: Rally - Base - Rally
• Demand zone: Drop - Base - Drop
But the indicator does not detect a very important type of zone, crucial when price has strength and momentum and we want to trade with the trend, what can be called "speed bumps".
There are 2 types of speedbumps, like the normal supply/demand zones described above:
• Supply speed bump: rally - base - rally. Seen when timeframe's trend is up
• Demand speed bump: drop - base - drop. See when timeframe's trend is down
I need someone that adds this functionality to the existing automatic indicator, that is:
• Detection of both the supply and demand speed bumps
• Change of color depending on how many times has been touched, if it's weak or not
• Have the option to fill or unfill the areas
• Exactly the same thing we do for Rally-Base-Drop and Drop-Base-Rally rectangles already detected by the automatic indicator
It will take some testing in order to fine tune the indicator to display the zones correctly, because there are subtle changes and they may look different, but it shares the same features: price rallies, stops (bases) for a small time, and then continues rallying strongly. Opposite for a supply speed bump, where price drops, bases for a small time and then it keeps on dropping.
The attached word document explains exactly what I need. The PDF files explains how the current indicator works, essential to understand what needs to be done with the new kind of rectangles (the speed bumps)
They are obvious to the eye, but I need the indicator to draw them automatically for me. It will require testing on your side and on my side until it's fine tuned and it shows the rectangles accordingly.
The indicator's source codes are attached.