Here it's: Woodie's choppy zone indicator.
Also some new versions of indicators from Igor are attached.
What are the main diferences in the new stepma and steprsi?
First, some my tools for MT4 caused problems of loss of communication with a server. It's not programming bug, because it's problem of MQL4. For example, in Omega TS such problems are not present.
In new versions of indicators of such problems is not present too. It enables to cause them from other indicators and experts.
It is the main difference with the previous versions.
Besides I have added some options to the StepRSI. If Mode=1 you can plot StepMA for the classic version of RSI (not smoothed by SMMA).
Also you can calculate StepRSI for different prices (Open, High and so on).
And still you can use MA instead of the price as it is made in the SMARSI indicator.
You probably have found out differences between the original CZI and my version. The original uses MAs and CCIs, I use StepMA and StepRSI with 2 StepSize = 5 and 15.
Please any advice for improvement.
I tried this Woodie's choppy zone indicator as well and may say that this choppy indicator is working very well on D1 timeframe.
Strict red color is very strong sell. Strict blue is very strong buy.
Yellow and grey color is choppy market.
This indicator may estimate the trend.
And strength of trend (by changing the color of this indicator).
It is the good correlation with Braintrading signal indicators on D1 timeframe because this indicator may be as a filter as well: when we get buy signal and red color of this indicator we are not trading.
Thanks Igorad ! And some idea for improvement
First of all I would like to thank you for your indicators that are very interesting !
Your last one - the stepchoppy-is as usual very interesting, and I think efficient as a swing indicator.
I have an idea for improving this indicator.
This indicator is naturally a bit lagging as it tends to smooth the trend to keep us inside as long as possible. This is great as it avoid whipsaws!!
Now I would like to suggest an idea to try to make it react more quickly on possible exhaustion of the trend.
Here is my idea : put the keltner channel on your graph (or enveloppes or others so that to have like a channel with limits) with parameters to "try" to be at the top and bottoms when the market is rather oscillating. For example for cable with parameters ema 55, atr 20, factor 7 on H1.
Now I think it could be interesting if your stepchoppy could be reacting more quickly as it is approaching the limits ( I mean the reactivity factor is more sensitive when the market is about to turn when approaching these extrems) and reacting normally when it is going more in the middle of these limit.
To say it differently, imagine this scenario : we have a change in the trend, going up. We enter the trade. The price is going up and approaching the upper limit of the keltner channel. As it is approaching the upper limit, the sensitivity of your indicator for a reversal is increasing.... In fact it was just a dip going a bit away from the upper limit and the sensitivity of your indicator is put back to normal. The price is then going up again and we are still in the trade, approaching again the upper limit of the keltner channel (thus making the reactivity of your indicator more sensitive), then price is reversing more strongly and finally triggering a new signal in the opposite way much before as if we were waiting for the normal sensitivity reaction!
Am sorry I was a bit long, but your version of the choppy indicator is interesting, so I wanted to propose you some idea for improvement
Hope I am clear in my explanations.
And again thanks a lot Igorad for your great contributions in this forum!
Second version of the indicator from Igorad.
I attach it to the chart and seems it works very good on M30 timeframe.
I attached your indicator to EURUSD 30 min, first its takes lot of time to process, CPU jumps to 100%, after 5 min, CPU comes to normal but there is no indicator displayed on chart.
Any suggestion, thanks in advance
Could I know the difference between V1 and V2?
You may ask Igorad.
I am acting as a user here: I attached the first version and the second one and see the first one is more good for D1 timeframe. The second one seems more sensitive and i can use it with M30 timeframe for my trading. May be. Just first imagination.
Besides it was small bug in the first version affecting on the visuality.
As to CPU so I do not have this problem.
some modification suggested by nedtour
- added dynamic Sensivity Factor.(StepMA_v7a.mq4)
- added incicator param(StepChoppy_v1.2a.mq4) - now you can see result of
StepMA_v7a if "incicator=StepMA_v7a",or regular one if "incicator=StepMA_v7"
I have not changed sensitivity of the indicator.
I only have fixed a bug concerning repainting last bars.
Still I wish to show you as Step indicators look in Omega TS.