Elite indicators :) - page 167
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profitrader21
Here you go
It needs some explanation : due to metatrader limitation of 8 drawing buffers, what I did is an option. The option is to draw middle lines or not. When you set it to false, it works like before. If set to true it shows only middle lines. So, if you place 2 indicators on the same chart you can get them to display like this :This much I can do using buffers. To make them display all it would require to make them as line objects. Let me know if this solution is OK or you need it as one indicators (as I said, as objects, which has its cons)_________________________
PS: while at it decided to make the "objects only version" too. In this one there is no need to have 2 indicators on chart, but it does not use buffers at all._________________________regards
mladen
Hi Mladen,
Can you please add midpoints on this indicator? Keep the same calculation, just add the midpoints. I would appreciate if you can do this by the begining of next week. Thank you very much in advance.
Best regardsmladen, few more thing to add:
1. Please make the arrows appear on completion of the candle i.e. for arrows add Alertoncurrent=false .
2. Arrows are not giving alerts and emails. Kindly check that.
Thanks
Umesh
mladen
I have made slight changes to the arrow conditions and I have done one major change with the bands. I have tried to use different timeframes for upper band and for lower band and I am getting good results.
The logic behind using different timeframes is:
On visual back testing I found that down arrows are doing good job in giving reversal signals but the Up arrows were failing occasionally.
Reason could be that he trend on longer time frame is down and when price bounces back and hits upper band the down arrow gives a good down signal.
Keeping this is in view I have used lower time frame (current time frame) for upper band and higher time frame for lower band and modified the indicator to two indicators one giving upper band and down signals on lower time frame and other giving lower band and Up Arrows on higher time frame.
One can use (M15 and H1 time frame) or (H1 and H4 time frame).
If trend is down:
Use lower time frame for UPPER Band and Higher time frame for LOWER Band
If Trend is UP:
Use lower time frame for LOWER Band and Higher time frame for UPPER Band
How to know when trend has changed:
In down trend, the upper band is of lower time frame, so when the price bounces back to this band go short.
The lower band is of higher time frame, when price crosses and closes below this band, it is most likely that the market is over sold, now when we get buy signal on this higher time frame lower band we can change from down trend to UP trend settings.
In Up trend, the Lower band is of lower time frame, so when the price comes back to this band go long.
The upper band is of higher time frame, when price crosses and closes above this band, it is most likely that the market is over overbought, now when we get sell signal on this higher time frame upper band we can change from UP trend to DOWN trend settings.
mladen, Please review this strategy and if you find it making any meaning kindly merge the two indicators to one indicator with different timeframes for upper and lower bands and it would be very great if you can you write a code in this that can automatically swap time frames when price crosses and closes beyond the band of higher time frame.
Regards
Umesh
Umesh, Try this one : the lines of code of interest to you are lines from 134 to 137. I think I got your conditions right but please do check them. Some additional condition comes to mind (like if high lower then upper band when previous high broke the upper band and similar for lower band) but did not code those regards mladen
TMA alerts
Umesh, Try this one : the lines of code of interest to you are lines from 134 to 137. I think I got your conditions right but please do check them. Some additional condition comes to mind (like if high lower then upper band when previous high broke the upper band and similar for lower band) but did not code those regards mladen
Mladan, does the "alert on current" indicate a cross of the band?
rgds
Peter
...
Peter,
I did not change the alerts, so if the alertsOnHighLow is set to true then the alert is triggered when the high or low cross the bands and if set to false, it is triggered when the close crosses bands
The "alert on current" simply means does it allert on current (still opened bar) or on a previous (first closed) bar. So, if the alertsOnCurrent is set to false it will alert only when the bar closes
regards
mladen
Mladan, does the "alert on current" indicate a cross of the band?
rgds
Peterumesh,
Let me check : you want an arrow to appear only when the bar is closed and while it is opened you do not want any arrows on an opened (current) bar?
Also, I would just like to remind you that along with the centered triangular moving average recalculation it is going to add lag to arrow appearing, and to please always bear in mind that centered TMA is always going to look very good on history because of its recalculation (that is the reason why I never recommended centered TMA to be used in a EA but as an aid in manual trading A good thread about it by simba can be found here here : https://www.mql5.com/en/forum/179608
regards
mladen
mladen, few more thing to add:
1. Please make the arrows appear on completion of the candle i.e. for arrows add Alertoncurrent=false .
2. Arrows are not giving alerts and emails. Kindly check that.
Thanks
Umeshmladen
Arrows and alerts are not the major concern and you can ignore this request.
I request you to visit my last post on previous page and see if you can do something about that.
Thanks
Umesh
umesh,
Let me check : you want an arrow to appear only when the bar is closed and while it is opened you do not want any arrows on an opened (current) bar?
Also, I would just like to remind you that along with the centered triangular moving average recalculation it is going to add lag to arrow appearing, and to please always bear in mind that centered TMA is always going to look very good on history because of its recalculation (that is the reason why I never recommended centered TMA to be used in a EA but as an aid in manual trading A good thread about it by simba can be found here here : https://www.mql5.com/en/forum/179608
regards
mladenumesh,
I have been using these bands and mtf TM arrows as well, and can tell you that you will get false entries when higher timeframe is trending in a different direction as lower/current tf. This week the higher TFs were trending UP most of the week on the majors. The point is that this may reverse and for example if next week the higher TF is trending lower, u will see much of the opposite of this past week (u will get many bad/false up arrows on the lower/current tf chart).
One possible enhancement could be a built -in filter for the arrows to only display current TF arrows in direction of higher tf chart trend.
Mladen, can this be done?
ALSO, I HUMBLY REQUEST an mtf version of your excellent modified ADXm smoothed
THANKS!
Odysseus
mladen,
Hi. Could you please simply fix these alerts so that they alert correctly by email at the beginning of the next bar? It makes no difference to me whether or not they appear and disappear on the current bar.
Your programming skill is a great value for elite subscribers!
Thanks to umesh for sharing his great ideas regarding tma bands.
Chris
umesh,
Let me check : you want an arrow to appear only when the bar is closed and while it is opened you do not want any arrows on an opened (current) bar?
regards
mladenChris,
If I am correct you are referring to alerts in a multi time frame mode. If yes, they are fixed now (they are now taking into account the target time frame too, so the target time frame is strictly honored - previous version did not take into account the high, low and close of the target time frame but those were taken from a current time frame, also interpolated values were used for alerts and they should not)
If you set the alertsEmailto true it will send an email too. Some details how to set up metatrader to send emails can be found here : Secrets of MetaTrader 4 Client Terminal: Alerting System - MQL4 Articles . I am sending you these details simply because I do not know if the problem is in setting up the email alerts which is explained in detail at that link
regards
mladen
mladen,
Hi. Could you please simply fix these alerts so that they alert correctly by email at the beginning of the next bar? It makes no difference to me whether or not they appear and disappear on the current bar.
Your programming skill is a great value for elite subscribers!
Thanks to umesh for sharing his great ideas regarding tma bands.
Chris