Elite indicators :) - page 518

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Ish

In the original Ehlers (see his site where he introduces some of those : http://www.swamicharts.com/Swami/ ) used colors only and the "amount" of color was to show what is the trend. But since I think that it is very difficult to use it in that way (try it out - set the color of the "generic" value to none and try to use it then) I decided to add the "generic" value that can be used then as any other indicator with overbought and oversold levels crosses. In that case colors are additional information and a possible early warning of change. Also, It is interesting that the "generic" value tends to be robust and highly responsive in the same time (to my surprise since it takes an average of a whole series of values) and it makes it a bit better than the "underlying" indicator used

So, in short, that is how I use them.

ismael360:
Hey Mladen, where can one find out more on how to use indicators like that swarm one. How do we go about using the colors with the indicator?

Thanks

Ish
 
dasio:
Hi Mladen.

I need a quite complicated indicator.

First of all it will be like renko chart. In separate offline chart with live update.

I try to explain the construction:

Suppose I start to do the calculations at the beginning of a new candle.

The indicator should calculate the range that is being formed, then a maximum or a minimum, I think, and when he reached the range of x (external variable in pips) closes the candle on the chart offline restarting the calculation.

The purpose of the indicator is to try, assuming you know the range of laterality, capture only the large movements of the cross.

I hope I was clear enough, but any additional indication deems appropriate, ask.

Thank you

Mladen i attach an image that can explain what i need.

Let assume that i put a 10 pips range like renko bar. The difference is that the indicator have to calculate it from new high or new low if the candle is not close.

It is not necessary the past chart. The live is sufficient

Waiting your reply,

Thank you

Files:
renko_variation.gif  34 kb
 
mladen:
Ish

In the original Ehlers (see his site where he introduces some of those : http://www.swamicharts.com/Swami/ ) used colors only and the "amount" of color was to show what is the trend. But since I think that it is very difficult to use it in that way (try it out - set the color of the "generic" value to none and try to use it then) I decided to add the "generic" value that can be used then as any other indicator with overbought and oversold levels crosses. In that case colors are additional information and a possible early warning of change. Also, It is interesting that the "generic" value tends to be robust and highly responsive in the same time (to my surprise since it takes an average of a whole series of values) and it makes it a bit better than the "underlying" indicator used

So, in short, that is how I use them.

Thanks for the info and advice Mladen.

Ish

 

RSI swings 2 ...

This is this indicator : https://www.mql5.com/en/forum/178733/page22 with and addition of rsi methods choice (0 -> rsi, 1 -> Wilders rsi, 2 -> rsx and 3 -> Cutller's rsi) and price filtering option. It can be adjusted a bit more and more precisely this way and I think that all in all it makes it a useful indicator. As usual some parameters experimenting is advised (see the lower example with period set to 20)

Files:
rsi_swings_0.gif  36 kb
rsi_swings_2.mq4  7 kb
rsi_swings_2.gif  35 kb
 

Rapid Rsi with pivot lines ...

This indicator https://www.mql5.com/en/forum/174385/page31 but changed to use rapid Rsi for calculation and with an addition of price filtering (for the rest of the description please read the post from the link) :

 
dasio:
Mladen i attach an image that can explain what i need.

Let assume that i put a 10 pips range like renko bar. The difference is that the indicator have to calculate it from new high or new low if the candle is not close.

It is not necessary the past chart. The live is sufficient

Waiting your reply,

Thank you

Can i have a reply about my request? otherwise I organize myself in any other way.

Thank you for your disponibility.

 

...

dasio

There are 2 problems :

    [*=1]a problem of start in time : since that would not be a "standard time" data it depends on a starting point and, the same way as renko does, it would make it change current values too (name it any name but the essence is that it would change current values on time frame changes, symbol changes, restart ...)

    [*=1]if it is to be restricted to certain sizes, it has to be an offline chart. "Cutting" a bar when it exceeds some value is not enough to make it work for next period and the again comes in the first point as an additional burden to it

The first point is, for example, a reason I do not use renko charts and it is the main reason why I did not start making this either. I had a few unfortunate episodes (the centered TMA, SSA, Hodrick/Prescott filter for example) that made me regret making recalculating stuff and that made me decide not to do it again (since I simply do not have time to tell over and over that recalculating stuff can not be used the usuall way). This way (by not making that kind of code) I am not forced to explain anything why a recalculting stuff needs different approach and quite frankly it makes me calmer in a lot of situations

I wish a pleasant weekend to all

dasio:
Can i have a reply about my request? otherwise I organize myself in any other way. Thank you for your disponibility.
 
mladen:
dasio

There are 2 problems :

    [*=1]a problem of start in time : since that would not be a "standard time" data it depends on a starting point and, the same way as renko does, it would make it change current values too (name it any name but the essence is that it would change current values on time frame changes, symbol changes, restart ...)

    [*=1]if it is to be restricted to certain sizes, it has to be an offline chart. "Cutting" a bar when it exceeds some value is not enough to make it work for next period and the again comes in the first point as an additional burden to it

The first point is, for example, a reason I do not use renko charts and it is the main reason why I did not start making this either. I had a few unfortunate episodes (the centered TMA, SSA, Hodrick/Prescott filter for example) that made me regret making recalculating stuff and that made me decide not to do it again (since I simply do not have time to tell over and over that recalculating stuff can not be used the usuall way). This way (by not making that kind of code) I am not forced to explain anything why a recalculting stuff needs different approach and quite frankly it makes me calmer in a lot of situations

I wish a pleasant weekend to all

Thank you for your reply, but i know this issue. However i think it can be useful. I

I do not need the past. Also because my intention is to start it when I think we are near a Low or a high.

In this way would be useful to filter the laterality Until confirmed and would be useful for the continuation of the trend.

It is not necessary the rule of Renko for the construction of the bar against trend. This must be constructed as the other

You could try to program it or not?

Thank you

 

Hello Mladen,

Would it be possible to modify the MT5 version of the High-Low activator to an MTF version with alerts (same as the attached MT4 version)?

Many thanks,

Gramski.

(P.S this really works well on 4hr with a Lb period of 8- very much appreciated)

 

High low activator - multi time frame ...

Gramski

Here you go

Gramski:
Hello Mladen,

Would it be possible to modify the MT5 version of the High-Low activator to an MTF version with alerts (same as the attached MT4 version)?

Many thanks,

Gramski.

(P.S this really works well on 4hr with a Lb period of 8- very much appreciated)
Files:
hl_mtf.png  83 kb
high_low_activator_-_mtf.ex5  20 kb
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