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Will it be possible for EA Studio to use custom indicators besides the existing indicators? There are some very good custom indicators such as Pallada SE Bars, Tren Alex, Gmacd 2, Hama system, Power Trend, Trend History, XTC Trend Following Indicator. Alternatively, EA Studio should enable the conversion of custom indicators to an EA, and EA Builder has this function.
Just asking!
Regards,
Samuel
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Hey guys,
This is interesting topic and there are a few things that you would need to know about the indicators and EA Studio.
Actually we are planning to create series of videos on the indicators which will explain more about how they work and why in EA Studio we use only the MetaTrader indicators and a few more.
For example, when we say Moving Average Crossover, I am not sure if you know that there is no actual crossing of lines. There are no lines or Moving Averages at all. Every bar has values and there are values for the MA for each bar. The line is just imaginary and with the indicators, it is represented with a line. There is a cool Indicator chart on FSB Pro that shows that.
So what we see on the chart is quite tricky sometimes and many indicators are created from developers and they are done in a way to look really great, very useful, but it real they do not work. Now, I do not say that the mentioned indicators don’t work, I don’t know that. But usually, if they do work, the developer of the indicator would make an EA as well and sell it for a lot of money…if it works 🙂
So in EA Studio, you will find the most practical indicators which work great combined together. And this is where the Generator helps by telling us which indicators we can combine and with what parameters inside.
A lot of tests are done for each indicator before it is added to EA Studio…and I don’t think adding custom indicators will be available at any point because if there is an issue with that custom indicator it will break the code, the strategies, and the whole workflow.
The people will blame EA Studio for that and not the custom indicator…
It’s just if you go to the Mercedes showroom and say “Hey guys, I want to new S-class but is it possible to put BMW breaks?” 🙂
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Hey Samuel,
I am just sharing my experience. Do not take it as convincing. I do not say that custom indicators won’t work. Just explaining why they are not in EA Studio. More to prevent technical issues rather than being profitable or not.
And all the indicators are based on the price and the volume. At the end of the day, they are not that different.
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