Thank you fxbs for coding the SMI indicator for me. I am however still struggling to get a proper MTF envelopes indicator.
More bars on chart
I know this is not MTF stuff, but this thread is active and was hoping someone could help me. On my 15 min charts I can only go as far back as 3 March 2007, but i wouold like to go further back.
I have tole the options tab inder charts to put more bars in, like 500000, but still nothing happens.
My Two cents worth-A great tool just got better!
Here is my two cents worth,the Damiani MTF indicator. I think that it is agood tool for sorting out the best periods to trade in, i have presented this indicator in a two colour form with no "firebrick" flatline, and it is in histogram form that you can change if you please...Thanks to the other great members for some good tools...Keep up the good work.
Horizontal lines & overall trend
Im looking for an indicator that draws horizontal lines very x pips, does anyone have an indicator like that??
Also, Im looking for an indicator that would give an overall direction of the trend. I currently use moving average but they lag too much. can anyone help? I trade on the 4h chart.
MTF of standart MT4 Envelopes - one to one
settings are MT4standart: 34,0,0,0, 0.1 ; you can change it to21,000 0.95
Again THANK YOU fxbs
OK. We can work on this here. Here goes.
This is from a system I found on forexfactory. I tried to find it again today, but with no luck. They are placing daily envelopes on, and then trading of the envelope lines. I wanted to post the MTF on their thread to help em out as they are drawing horizontal lines every morning. But as I said I cannot find it now.
Using the MTF moving averages and the MTF envelopes posted by FXBS, 2 or 3 posts above this one, place a daily 21 simple close moving average. Then the envelopes, always time frame 1440 (daily) and ma always 21.
Leave all the other settings to zero. Then just change the deviation settings at the bottom to the following 0.21, 0.34, 0.55, 0.89, 0.95 and 1.17.
Now have a look at any tf, I think 30 min will do for explanantion, and see how price reacts around these envelopes lines.
Now I don't know what to add, as when I had a look at the charts now, I see that it would be nice to have mayb 3 more deviations higher than 1.17. But if I find the other thread, I'm sure that gentleman can help us.
Now we need to have a look and see which other indicator will give us a sort of heads up as to which lines will be used, which lines will be used as turning points. Feel free to help out with this.
The closest thing I can help you out with is this grid indicator, which you can change the setiings for you purpose.
that's a lot of work, CJA, great job
CJA, can you modify mtf to plot defined timefame on current like in pict. below? :
cheers mate. i'll try it.