|cQ-Waddah Attar Explosion Deluxe Version 2.0 MT4 Indicator|
August 12, 2021
You can find Version 1.0 down below
This is version 2.0 of the cQ-WAE Deluxe MT4 indicators. WAE (Waddah Attar Explosion). This one is more refined than version 1.0.
This is the cQ-WAE dlx (Deluxe) version which can be used as a volume indicator in your trading algorithm. If you don't know what an trading algorithm is, I'm refering to the No Non-Sense Forex type of trading algorithm. Simply, the algorithm consists of a baseline indicator, 2 confirmation indicators, atr and volume indicators, and an exit indicator. Together these indicators form your trading algorithm.
The indicator gives a BUY or SELL signal depending upon if the Blue or Orange Bars are above the NTZ levels. The NTZ levels are the solid blue and dark orange lines as well as the dotted blue line shown in the above picture. The bars become brighter when there is enough volume to make a trade. Then depending upon what the other indicators in your 'algo' you may possibly enter a trade.
The indicator uses the same algorithm as the original AWE indicator. It has over 30 moving average types from which to create the MACD used in the algorithm. You can mix and match moving averages to create some very different settings.
It has 4 NTZ (No Trade Zone) algorithms, 4 of which are based upon Bollinger Bands and the others use a moving average.
Single Band BBands
To help make it a little easier to find a good setting I added what I call Tandem Ratio Modes. One for the Fast and Slow MACD and one for the NTZ period. Both are based upon whatever the Fast MACD period currently is set to. For example if the Fast and Slow MACD Tandem Ratio is set to [1.0 to 2.0] and the Fast period is 20 then the Slow period is multiplied by 2.0 making it 40. Changing the Fast period changes the Slow period based upon this ratio. The same type of thing is applied to the NTZ, again both are based upon the Fast MACD setting. You can also turn this function off if you don't want to use it.
This indicator's buttons can be placed in a separate subwindow on the chart. This allows you to see more of the indicator as well as avoids calling up the indicator because the button clicks fall through and hit the indicator.
There are 10 LOCAL and 10 GLOBAL presets where you can save your settings. The 10 GLOBAL presets can be shared with other charts in MT4. The 10 LOCAL presets can only be used on the particular chart.
Most of the functions can be accessed by the buttons. Here's the button layout.
|cQ-Waddah Attar Explosion Deluxe Version 1.0|
June 27, 2021
Version 1.0 is very similar to version 2.0 except this version has 4 more NTZ algorithms and processes the NTZ differently.
This version has 8 NTZ (No Trade Zone) algorithms, 4 of which are based upon Bollinger Bands and the other based on the ATR.
BBands - Single Band
Two of the ATR NTZ algos (the Two Bands ones) use what I call a directional ATR. This generates an UP ATR level and a DOWN ATR level. The input is created using the difference of the (previous close - current close), high - low, or if the current close is above the previous close then its (previous low - current high), if the current close is below the previous close then its (previous high - current low).
Of the 8 NTZ algos, 4 of them use an ATR INVERSE function which sets the NTZ level using the ATR generally with a large setting like 50 or 100. This places the level above the nominal NTZ levels and when the BBands or ATR (shorter term) react to price, it forces the NTZ level down below the blue or orange bars making them brighter, and hence telling you there's enough volume to possibly get into a trade.