Multi Timeframe Indicators - page 107
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alpha24seven;149737 FX5_SelfAdjustingRSI
FX5_SelfAdjustingRSI - MQL4 Code Base
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FX5: "In February issue of Technical Analysis of STOCKS & COMMODITIES magazine David Sepiashvili presented a new idea for adjusting RSI overbought-oversold levels. The advantage of this approached is that it could be applied to multiple market conditions without regard to the calculation period. This standardization facilitates the usage of the indicator in Multiframe analysis.
The article contained two different algorithms for of adjusting the width of the overbought and oversold bands for the RSI. This indicator draws RSI and the self-adjusting overbought-overslold levels.
If the parameter MA-Method is set to true the bands are calculted by moveing average based algorithm. If it is set to false the altarnative standard diviation algorithm will be used."
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Feature Fixed Max/Min on/off (default 1-100) can be switched from Ind.Properties/Common tab.
Speechless...
fxbs,
Thank you so very much! I'm amazed that someone would work so hard and contribute their time and knowledge in such a way to help someone they don't even know.
This is a rare thing in todays world and it is very refreshing.
The best to you.
regards
alpha
i was just wondering if any of you ever thought to make a correspondence between the same indicator on a higher and on a smaller tf at the same time.
for instance, 13 EMA on h4 is equivalent to 52 EMA on h1... or something like this. macd (12,26,9) on h4 would be equivalent to macd (48, 104,36) on h1... and so on.
the reason i'm asking this is that, while a mtf indicator is very useful, an equivalent one might be better in terms of the reaction to price moves.
i was just wondering if any of you ever thought to make a correspondence between the same indicator on a higher and on a smaller tf at the same time.
for instance, 13 EMA on h4 is equivalent to 52 EMA on h1... or something like this. macd (12,26,9) on h4 would be equivalent to macd (48, 104,36) on h1... and so on.
the reason i'm asking this is that, while a mtf indicator is very useful, an equivalent one might be better in terms of the reaction to price moves.Is it like that ? How do you count it ? Sorry, newbie's question....
Regards,
IIN
well, the best way to find out is to have both indicators on the same chart, an mtf and a regular one; then you tweak the regular one until it overlaps on the mtf.
i just posted an estimation... that's the start of the fine tuning.
Is it like that ? How do you count it ? Sorry, newbie's question....
Regards,
IINYou mean something like this?
Red line is the aproximation of the MA you are proposing
Magenta is the Keris way of MTF MA
Golden line are the real values of a higher time frame MA on a lower time frame
As you can see, there is hardly a singe correct value of the aproximated one over a period of time, while Keris's formula gives at least one correct value per period. Anyway, formula for the aproximation in Metatrader would be :
MAperiod=MAperiod*TimeFrame/Period()
If you try to apply this aproximation to moving average derived indicators (MACD for example), you will end up with big, and I mean BIG differences (I have seen a 7-8% difference of a 4H MACD on an 1H time frame)
A counter question : what do you think how many people did try different aproaches to multi time frame indicators?
i was just wondering if any of you ever thought to make a correspondence between the same indicator on a higher and on a smaller tf at the same time.
for instance, 13 EMA on h4 is equivalent to 52 EMA on h1... or something like this. macd (12,26,9) on h4 would be equivalent to macd (48, 104,36) on h1... and so on.
the reason i'm asking this is that, while a mtf indicator is very useful, an equivalent one might be better in terms of the reaction to price moves.Great Idea Scrat
well, the best way to find out is to have both indicators on the same chart, an mtf and a regular one; then you tweak the regular one until it overlaps on the mtf. i just posted an estimation... that's the start of the fine tuning.
Thanks For the great idea, Scrat. I never thought of this way.
Best Regards,
IIN
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Thanks For the great idea, Scrat. I never thought of this way.
Best Regards,
IINPeople, let's get serious
MACD on chart
Hi, is there a way we can have macd plotted in a chart in MTF?
I have two indocators called MACDTrad3 and MACD trad3!. I do now have the source code for them, but I'm sure it will make for interesting reading if we can plot a higher tf macd on the chart. These indicators don't plot the histogram but justthe lines.
Thank you and God bless.
One More Good MTF Candidate
AMA SLOPE would also make another good MTF indi.
It is great on its own but again would be another tool to cut through noise on lower TFs.
Thank you!
Alpha