Multi Timeframe Indicators - page 391
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Engulfing Bar Indicator
Can someone please help me to locate / or to kindly code mt4 engulfing indicator according to these original rules:
Engulfing Bar structure:
The engulfing bar as it states in its title isformed when it fully consumes the previous candle. The engulfing bar can engulf more than 1 previous candle but to be considered an engulfing bar at least 1candle must be fully consumed.
When looking for Engulfing bars we are looking for the large and very obvious barsthat stick out. The bigger the Engulfing bar the better to trade as Engulfingbars are momentum bars, and we want to trade with momentum on our side! Thebigger the bar, the bigger the momentum!
Engulfing bar to be a tradeable, Engulfing bar are:
1: Must be large and obvious,
2: Must form at a swing point.
3.Must consume I previous candle, stronger if it consumes 2 or 3 candles.
I would highly appreciate it so much
Hi all,
I made two indicators, and I'm curious about the opinions from who is using MTF indicators. These indicators draws the line without steps (that's why the name is stepless) and without the refresh problem or backtest incompatibility which standard errors of the MTF indicators.
Stepless MTF RSI (H4 RSI with 14 period in M5):
Stepless MTF CCI (H4 CCI with 14 period in M5):
...
Something like this one here : https://www.mql5.com/en/forum/173574/page239 ?
It is not a rsi or cci but the principle should be same (linear interpolation shouldn't differ too much in the implementation)
Hi all,
I made two indicators, and I'm curious about the opinions from who is using MTF indicators. These indicators draws the line without steps (that's why the name is stepless) and without the refresh problem or backtest incompatibility which standard errors of the MTF indicators.
Stepless MTF RSI (H4 RSI with 14 period in M5):
Stepless MTF CCI (H4 CCI with 14 period in M5):
I would be appreciated if someone add MTF option in this 'KWAN' indicator (attached).
Though we have a MTF KWAN indy but it is in BAR FORM by MLADEN !
Multi time frame "kwan" (coloring changed to non repainting mode too) It is a standalone indicator (no need for the indicator from the previous post)
Thanks Mladen
Really really appreciate your kindness, time effort and quick response
Best Regards
secretcode
thanks, i'll try and give feedback.
hi mladen,
i tried to follow the indi realtime and with the tester, but i can't understand if the previous bar is changing or not. my bad, my eyes...
would it be possible to add a vertical line in the subwindow on the closed (and not going to be repainted) bar?
a line would be better for me compared with an arrow.
sorry for this additional modification and thanks again.
Something like this one here : https://www.mql5.com/en/forum/173574/page239 ?
Yes, my indicator is linear interpolated, but the last bars are weighted, so in M5 (with H4 RSI) not draws salient line, if the first M5 bar (inside the last H4 candle) is a big candle.
...
If you are doing the weighting (or extrapolating) then, in your example, only the last 5 minute bar out of 48 bars that belongs to 4 hour target bar is going to show correct value of the indicator. So, the user will almost never know the exact value of the current bar
Yes, my indicator is linear interpolated, but the last bars are weighted, so in M5 (with H4 RSI) not draws salient line, if the first M5 bar (inside the last H4 candle) is a big candle.
If you are doing the weighting (or extrapolating) then, in your example, only the last 5 minute bar out of 48 bars that belongs to 4 hour target bar is going to show correct value of the indicator. So, the user will almost never know the exact value of the current bar
But while the H4 is not closed, we can not be sure that it is the final value
...
Sorry, but if the indicator does not show the correct current value of the higher time it is doing wrong. It is by definition called a "repainting". If the higher time frame indicator value is nn than it must show nn otherwise it is simply misleading the user
Just imagine : user looks at the 5 minute chart and sees some value and then goes to 4 hour chart and sees, to his surprise, some completely different value. That is why it is a "repainting" (and in this case a real repainting, not what multi time frame indicators do in their normal work)
But while the H4 is not closed, we can not be sure that it is the final value