Better Bollinger Bands... - page 15

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jbozman:
Great. So what is needed to fix it? Can you please fix it or provide one that overcomes those flaws?

I really like the MTF version as the bands remain the same across time frames.

Also, attached is an MTF Moving Average. Does this have the same inherent problem or is it okay? If it's problematic, is it too much to ask to help fix it too so these aren't issues?

I'm not trading yet, and developing my own method and need these as part of it. I'm thankful you pointed out the repainting issue.

Here's the MTF MA:

EDITED POST:

I get that you said the bands are calculated okay. Fractional isn't that important, but it would be really nice to have. I also understand that the lower TF doesn't match up with the higher TF on the MTF. Is there a way to overcome this? I'd like for it to update. I'm not knowledgeable enough to speak to the updating with the MTF and the higher TF. I just know I'd like to see the same representation across TFs.

jbozman

Only regarding lower time frame now : it can not be done since we do not have any criteria that would allow us to filter out lower time frames "insignificant" bars. We would end up always missing lower time frame data

 
mladen:
jbozman Only regarding lower time frame now : it can not be done since we do not have any criteria that would allow us to filter out lower time frames "insignificant" bars. We would end up always missing lower time frame data

Just so I am clear on using this MTF BB...let's say I use it to enter on the 15 min and 5 min chart, but I also use it on 30 min, but not to enter...just to see where price is relative to the bands.

For example sake, let's say I want to use an 800 on 15 min bb, which is a 2400 on 5 or 400 on 30.

Is it best to code it as 800 on 15 or 2400 on 5 min in meta editor to eliminate the significance of repainting on 5 min chart? It sounds like the repainting won't be an issue if I code it as 800 on 15. That way, when using it on 15 or 5 to enter, it won't repaint.

I do use this indicator on the 30, but it's mainly for a general area of price relative to the bands. If it's better to code it as 400 on 30 min, please let me know. While I can tolerate some repainting, I don't want the 30 min to be drastically "off" because it's not calculating properly if coded as 800 on 15.

Hope that makes sense. If not, let me know and I'll try my best to explain.

Thanks

 
jbozman:
Just so I am clear on using this MTF BB...let's say I use it to enter on the 15 min and 5 min chart, but I also use it on 30 min, but not to enter...just to see where price is relative to the bands.

For example sake, let's say I want to use an 800 on 15 min bb, which is a 2400 on 5 or 400 on 30.

Is it best to code it as 800 on 15 or 2400 on 5 min in meta editor to eliminate the significance of repainting on 5 min chart? It sounds like the repainting won't be an issue if I code it as 800 on 15. That way, when using it on 15 or 5 to enter, it won't repaint.

I do use this indicator on the 30, but it's mainly for a general area of price relative to the bands. If it's better to code it as 400 on 30 min, please let me know. While I can tolerate some repainting, I don't want the 30 min to be drastically "off" because it's not calculating properly if coded as 800 on 15.

Hope that makes sense. If not, let me know and I'll try my best to explain.

Thanks

jbozman

Not sure that I understand correctly, but let me try

You are probably talking of a thing I call "naive multi time frame" (don't misunderstand the term, I just called it once that way, and it stayed in my head. That way was used by Alexander Elder among others, so it is not so "naive" but they mainly used it in times when computers were not so accessible and it was easier to use that way than to try to combine data)

For example : bb period 20 on 5 minutes. If you want to simulate bb from 15 minute without actually checking 15 minute data, then use bb period 60 (since 15 minute is 3x5 minutes). On 30 minute that would be bb period 120 and so on ...

_______________________

It is not a bad way. It is an approximation (with some weak points) but the good points of that method are stronger than the weak points, so you can use it like that too

 
mrtools:
This is better bollinger bands mod with alerts and mtf.

its not working for my latest mt4, could someone upload the working version ? thx

 
santis:
its not working for my latest mt4, could someone upload the working version ? thx

Hi Santis, updated it to work on new mt4 builds.

 

This is better bollinger bands mod with alerts and mtf.

updated version posted here: https://www.mql5.com/en/forum/173534

 
mrtools:
Hi Santis, updated it to work on new mt4 builds.

working TY

 

I noticed an issue (?) with the better bollinger bands. The code didn't have style/width, so I added it and made sure that names were consistent. color0/width0/style0., etc.

The 15 min timeframe was fine..it was as I wanted...the middle band was MediumSpringGreen width 2. Bands were LightSteelBlue, style dashdotdot.

When I switched to the 5 min timeframe, what I thought was the middle band switched color/style with another band...it went from MediumSpring Green to LightSteelBlue...As you can see from images, nothing changes in the indicator window in MT4...names/colors/width/style stays same on both 5 min and 15 min charts.

So the middle band in code looked like it was middle band on 15 min, but not on 5 min...???

Images are attached along with template and indicator. I added _jl to name so it doesn't rewrite indicator as named above.

I'm not a programmer...but I've done this before and never had a switch like this. I'm sure there is code elsewhere that is causing this to happen??

Can you please fix?

Thanks,

jbozman

 
jbozman:
I noticed an issue (?) with the better bollinger bands. The code didn't have style/width, so I added it and made sure that names were consistent. color0/width0/style0., etc.

The 15 min timeframe was fine..it was as I wanted...the middle band was MediumSpringGreen width 2. Bands were LightSteelBlue, style dashdotdot.

When I switched to the 5 min timeframe, what I thought was the middle band switched color/style with another band...it went from MediumSpring Green to LightSteelBlue...As you can see from images, nothing changes in the indicator window in MT4...names/colors/width/style stays same on both 5 min and 15 min charts.

So the middle band in code looked like it was middle band on 15 min, but not on 5 min...???

Images are attached along with template and indicator. I added _jl to name so it doesn't rewrite indicator as named above.

I'm not a programmer...but I've done this before and never had a switch like this. I'm sure there is code elsewhere that is causing this to happen??

Can you please fix?

Thanks,

jbozman

jbozman

This one should be the correct one : better_bollinger_bands_mtfalerts_nmc_jl_1.mq4

 
mladen:
jbozman This one should be the correct one : better_bollinger_bands_mtfalerts_nmc_jl_1.mq4

It works Ok now for me

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