Scanning Multiple Currency Pairs for Indicator Buffer Crossovers
Summary
The article describes an MT4 indicator that scans a user-selected list of currency pairs for crossovers between two buffers from an external indicator. It reads the symbol list from a file, retrieves recent buffer values, and flags upward or downward crosses. Alerts can appear in the terminal and optionally be sent by email. The external indicator may be a moving average pair or another indicator with two usable buffers, such as Stochastic or MACD.
The scanner repeats the check across selected timeframes, starting at the chart’s current timeframe and proceeding to lower ones, and recalculates when a new bar appears. The article explains how to create the symbol list through Market Watch and notes that price history must be loaded for scanned instruments. Buffer ordering must be identified correctly, since swapping the two buffers changes the crossover interpretation. This is an alerting and monitoring tool, not a strategy evaluation: it provides no evidence that crossover alerts are profitable, and its coverage depends on the configured symbols, timeframes, indicator buffers, and available history.
Key ideas
- The indicator scans a file-based list of symbols for crossovers between two buffers of an external indicator.
- An upward or downward crossover can trigger a terminal alert and an optional email notification.
- The chart timeframe sets the starting point for checks that continue through lower configured timeframes.
- The buffer indices must match the external indicator’s line ordering for crossover direction to be interpreted correctly.
- Scanned symbols need loaded market history, and the alerts themselves do not demonstrate trading profitability.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.