Requirements
MT4 - MetaTrader 4
Version 4.00 Build 1360 or greater

Oct 25, 2023 - Updated to v1.3
Download cQ-SSL Banded Moving Average v1.3

The cQ-SSL Banded Moving Average indicator is used as a confirmation indicator. It will generate an orange dot when a SELL is possible, and a blue dot when a BUY is possible. The zip file contains two different versions of the SSL indicators. This is one is the cQ-SSL Banded Moving Average. The cQ-SSL Malibu Banded Moving Average is also included in the zip file. Each of these indicators also has a No-Parameters version and a Histogram version.

The main chart version will save the indicator's current settings to a file. This file can be used by both the No-Parameters version and a Histogram version. The No-Parameters version only has one parameter and that is the preset filename. Here you would put the previously saved parameters created when using the Parameters version. This will allow you to use either the No-Parameters version or the Histogram version in an expert advisor without the need to pass all the parameters (see dialogbox image below). The parameters are loaded once when the indicator is initalized. You only need to call the iCustom("cQ-SSL Banded MA",Buffer#,Candle#) to retrive the indicator's output.

For the SSL part of the indicator you can select from SMA, EMA, SMMA, or LWMA. These moving average types appear to me to be the best ones to use. You can also use a different moving average, period, and additional ATR value (SSL Detection) to change the way the indicator detects when to change (flip) directions. Using a higher period for example will cause the indicator to change directions less. Increasing the SSL Detection MA Multiplier (an ATR Multiplier) will also decrease the number of times the indicator changes direction.

As for the SSL moving averages there is an additional (meaning the normal SSL doesn't have this) SSL ATR Height Period & Multiplier. This will change (increase) the height between the upper and lower bands. You can have it decrease if you set the SSL ATR Height Multiplier to a negative value (ie. -0.25). This controls the how many times the candle's close will peirce the upper or lower bands and draw a dot. There's also an Inverted period and multiplier (SSL ATR Height Invert Period & Multiplier). For example if the set the SSL ATR Height Multiplier to a lager value say 4.0, and then set the SSL ATR Height Invert Multiplier to something like 2.5 you will create bands that flucuate based on price. A large candle will cause the Bands to get closer together. If you don't want to use the inverted parameters just leave the SSL ATR Height Invert Multiplier at 0.0.

The SSL ATR Minimum Level Period & Multiplier can be used to limit distance of the bands from the Moving Average. This can help reduce dots being drawn price is going sideways. Money not lost is money earned.

The Moving Average:

There is a number of different moving aveage types including Half-Trend, Kijun-Sen, LSR, Simple-Trend, and SuperTrend. The moving average's period doesn't have to be the same as the SSL period. Using a shorter period seems to work better but there have been some interesting results to longer periods. This is one of the more important parts of the indicator. You can observe the percent changes of the indicator by looking at the MT4 Terminal Experts tab.

The MA Trade Entry ATR Period & Multiplier can be used in a similar way as the Baseline 1xATR setting for NNFX type trading systems. If price is too far away from the moving average it will draw a red dot.

The MA Maximum (open-close) Height Period & Multiplier can be used to signify when a candle is too large or too faraway from the normal price action. It uses the difference of the open-close and not the high-low. It's good for detecting false breakouts. It does measure the distance from the moving average only the height of the open-close.

The MINIMUM ATR Level Period and Multiplier can be used to detect if the current symbol's ATR is decreasing to a point it might be better to stay out of the trade. It's just the ATR(Period)*Multiplier. The current ATR is calculated using ATR(14)*1.0. If the current ATR falls below the MINIMUM ATR Level any dots drawn will be red. If you have this enabled and the indicator appears to not be working correctly this is probably why. The default value is ATR(200)*0.85. I debated if I should enable it on default and decided it's probably better. You can set it to 0.0 to disable it.