I don't fully understand MT4's platform yet, so any comments on how to improve would be appreciated. I understand that the number of my variables could have been reduced, but this code was an exercise for me. I will be attempting more indicators in the future.
Thank you to igorad for the Low-Pass filter code. Its more or less a spin-off of their code.
I understand that the Low-Pass filter is like an averaging process, so this indicator is similar to a MACD.
Basically, my friend and I noticed that two Low-Pass filters were giving good signals when you tweak the PctFilter parameter. This being so, I made a Convergence/Divergence indicator to pin-point these crossings.
Nice indicator, thanks a lot look forward to seeing more of your future developments.
Can one of the excellent programmers here add "buy/sell" arrows in the main chart for one of these indicators?
(Color change in bars = arrow in chart).
If one is done, I can (try to) do the other two myself.
The most ideal situation would be to only get an arrow if all three indicators are pointing in same direction/are aligned, but I guess that would mean combining all three indicators into one, or move them into an EA...?
Thanks alot in advance!
I finally did change the name and working fine.. I just need arrow when color change on the chart..
million thanks Mladen
FTLM_hist with buy/sell Arrows.
P.S. Please download fixed version.
Thanks a ton Igorad, much appreciated!
The starting point for making it is was something I have been considering as illogical for some time : why do the bands in Bollinger bands or Keltner channel, or any xxx bands have to be symmetrical to the central value? It simply does not seem logical (at least to me it doesn't ).
In time of trends we can not expect "the opposite" band to be reached the same way as the "trend side band". Placing those symmetrically simple negates trends. I know that a lot of people will tell that there is no such thing as "trend" but if we keep the definition within "a prevailing movement in one direction" than we have it.
So this one does : if there is a movement in one direction, the "opposite" band is narrowing. If the price movement is random-ing, bands tend to be symmetrical
Very interesting thought, makes a lot of sense.
Appreciate you sharing this here...I sense opportunities with this.
First this one (in the one that you posted there were some problems in the multi time frame mode and it was not a non-repainting version (colors could repaint in some cases)) So those things are correct in this one and it is using allAverages v 2.5 (that is the one I have on my PC, hence I changed it from version 2.3a that is used in your version)
Mladen, I am a great supporter of the SchaffTrendCycle indicator you built, especially the "nrp" version. As you recall I had the problem with the MTF version from the start and when I saw this Post, I was very excited as I am still using the "head-rearing-cobra" in MTF format but have learned to adapt to its behaviour as it gives me the clue that I am looking for.
Attach is a screen-print of a 30-M chart with Schaff on the right hand side and same setting Schaffs on the M-5 TF on the left.
First sub window is the new version you just posted with the "old" version underneath it. Both with same settings and set @ M-30 TF.
I marked the turning points with horizontal lines and numbered it on M-30 for your kind perusal.
It clearly does not do what it is suppose to do in MTF format.
Any suggestions or explanation for this, please? I really would like to use an MTF-version that is solidly stable and from watching the new one with the use of SnapShot, it is stable.
Looking forward to hearing from you.
I am replacing the Keltner Bands in an EA with your version (Asymmetric Bands) to see how this will impact trades.
Had a question about buffers, but figured it out - hence edit.
Now, I am assuming that you have used a MAMethod 1 and that you set a close (0) as an input parameter for Pricein the "new" indicator (in order to make it use EMA instead of JSmooth as it is by default in the "new" one, and to make it calculate the Shaff trends cycle they way the original Schaff trend cycle is calculated) If not, than you are comparing the incomparable.
If yes (you used those parameters) from the document attached at the original post (here : https://www.mql5.com/en/forum/176577 (that is an original document from Doug Schaff - attaching it here once again for everyone's convenience)) the conclusion is that you are comparing a Schaff trend cycle with a non-Schaff trend cycle. You can compare what should the code do and check if the "new" version is indeed the same as Doug Schaffs original.
Could you Add Arrow on the Schaff Trend Cycle
on the chart when color change.