Hi, sometimes an indicator will give multiple signals within short period of time if the necessary conditions are met. Beside setting a time limit between the occurrence of the signals, I am trying to experiment using a pre-defined range instead. However, my empty4 programming sucks and I am hoping I can get some help here.
Basically the idea is to pre-define a target and stoploss level when the entry conditions are met, and subsequent new entry signals will be suppressed if price has not reach either the target or stoploss level. Only when price has moved beyond either the target or stoploss level, then the indicator can start to print new signals. I suppose this can be done by storing the target/stoploss values in an array but coding this is currently way out of my league
Not sure whether this is a good idea but I am hoping this will help to create an indicator that will not print too many "unnecessary" signals on the chart. Appreciate it if I can get some input or feedbacks from the experts in the forum, thanks.