Elite indicators :) - page 165

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Momentum

Hello mladen,

would it be possible to make a MTF-version of the attached "Momentum_Burst" ?

It looks interesting on very short TF.

Thanks in advance

derfel

Files:
t3_momentum_burst.mq4  3 kb
 

derfel

Here you go

But this is not going to be a short post __________________________

The indicator you posted is obviously from early days of metatrader coding. In those times there have been a lot of confusion with how to calculate T3. This time I am not referring to calculating all the bars on every tick, but to the formula itself. It took us a long time to sort out what is the original (Tim Tilson) way and what is not (at that time we discovered that it was a change made my Fulks and Matulich in order to lessen the lag of T3), This one uses neither way. The way it is written it is obvious that it is a coding error (made by people converting the code to metatrader in those far, far away times ), but, for the sake of comparison with the indicator you posted I added one more way of calculating. So, now, there are 3 ways of calculating T3 in this indicator :
T3_ calculation:
0 -> original Tim Tilson way

1-> Fulks / Matulich way

anything else -> the "I do not know what" way (I repeat that, in my opinion, it is a coding error and not a new way of calculation invented on purpose, and that is why I do not recommend the usage of this mode) Roughly (but very roughly), if you use 10 in this mode for T3 period, then use 5 in Fulks / Matulich way to get comparable (not the same) results

The rest of the parameters are the standard ones (just changed the name of the "b" to "T3_hot" since it is how Tilson named it)
I left the default calculation to the one I described as undefined (in order to keep it the same as original posted) but be advised that that calculation is not T3

__________________________

Now, after this lengthy explanation, derfel I hope you do not mind the whole story. I just felt that it needed to be told in order to avoid one more error in coding which could cause someone wondering "what the ... is going on" as i was doing when I first compared Tilson way with Fulks / Matulich way. Maybe someone will save some time with this post

regards

mladen

derfel:
Hello mladen,

would it be possible to make a MTF-version of the attached "Momentum_Burst" ?

It looks interesting on very short TF.

Thanks in advance

derfel
 

Momentum Burst

Thank you mladen,

thanks for your fast and profound work.

derfel

 

Momentum_Burst

Dear mladen,

may I ask for a little modification (if it is possible) - I like to put 2 Indicators (for different TF) in the same (sub-) window. But the indicators do not fit on the same Zero-line. I know that is ok, they do what they have to do - because of theit different TFs. But is it possible to arrange that somehow inside the Indicator to make them fit ?

Sorry if that is a silly question.

Thank you

derfel

 

Qqe mtf

Mladen, thanks so much for all your great work.

I cant seem to find YOUR version of an mtf QQE indicator (with the interpolating and done correctly) - if you have done one can you point me to the post please, and if not, could you possibly do one? Thanks so much!

Odysseus

 

Triangular MA

mladen,

Kindly consider this request. Thanks

umeshkathuria:
Mladen,

Attached is the TriangularMA centered abands alerts indicator.

This indicator gives alerts and emails when the price crosses the bands.

Can you modify this indicator to give alerts when:

The previous candle has touched the band and the present candle is of opposite color (Black for upper band and white for lower band).

With AlertonCurrent=false.

Thanks

Umesh
umeshkathuria:
mladen,

By color of candle I meant:

When the 1st candle touches the upper band it is of white color(i.e. its close is higher than its open) and 2nd candle is of black color (i.e. its close is lower than its open) then the indicator gives a Down alert.

When the 1st candle touches the Lower band it is of Black color(i.e. its close is lower than its open) and 2nd candle is of White color (i.e. its close is higher than its open) then the indicator gives an UP alert.

Its a two candle pattern with Triangular MA abands alerts

Triangular moving average is confirming the overbought/oversold condition and candle pattern is confirming the reversal.

I am using H1 timeframe for this setup.

Please find the attached image for details.

Thanks and Regards

Umesh
 

hi mladen,

I had posted earlier concerning a Dynamic Balance Point Indicator.

Apparently it's based on Drummond Geometry, the work of Robert Krause, and Chaos Theory from what I've read so far.

https://www.mql5.com/en/forum/general

mrtools found something that looks promising called SOKOL. Would it be possible to check the code to see if the parameters can be changed for the DBP calculation?

The SOKOL is coded this way

datetime today = TimeLocal (), serverTime = TimeCurrent ();

int offset = 1, currentDay = TimeDayOfWeek (today), serverDay = TimeDayOfWeek (serverTime);

if (currentDay == 0 ||

((currentDay == 6 || currentDay == 1) && serverDay == 5))

offset = 0;

double high = iHigh (0, PERIOD_D1, offset),

low = iLow (0, PERIOD_D1, offset),

close = iClose (0, PERIOD_D1, offset);

BalancePoint = (high + low + close) / 3;

and the metaquotes code settings I found are written this way,

dt:=DayOfWeek();

DBC:=(HighestSince(5,DayOfWeek()=dt,H)+

LowestSince(5,DayOfWeek()=dt,L)+CLOSE)/3;

DBC

I tried to work on the code in metaeditor and realized I have no idea what I'm doing.

I'm still a beginner with coding so this is way over my head. If you could help me with this I would really appreciate it.

Kind regards,

Fudo

I think this could be a very useful tool if it were set up properly, basing the calculation on a floating 5 day timeframe will give us a completely different vantage point of current support and resistance than the current static weekly/daily pivot methodolgy. Ultimately a MTF version with both the fixed and dynamic levels projected would be excellent for calculating higher TF support and resistance for the lower TFs.

What do you think?

Files:
sokol_1.mq4  11 kb
 

Fudo

From the description this is one version (it is a daily dynamic balance point on a 4 hour chart - I post this as an example even if it is not supposed to work on a lower time frame, but that is a deviation that I decided to make):
_____________________________ Some explanations :
Even if it uses time frame as parameter it is not a multi time frame indicator. Instead, it uses that time frame to find highs and lows that are used in calculation. For example :
For a length 5 days dynamic balance point, on Friday it will use data from Monday 00:00 till the bar it calculates to find high / low and combined with current close it calculates the balance point
Parameters:

dbpLength-> length (in target time frames) to calculate

dbpTimeFrameForHighLow-> target time frame to use for calculations

_____________________________

As of Drummond geometry, the chaos and the rest that guy is talking about : forget about it. For a daily target time frame dynamic balance point is simply (highest in the last n days + lowest in the last n days + current close) / 3. The metastock code is a weekly dynamic, but I decided to make daily the default time frame (I think it is more suitable for forex) but you can easily use any time frame you like

PS: will make a version that does exactly (as the time is concerned) as the metastock version, but I think that, value wise, difference is not going to be significant

regards

mladen

Fudomyo:
hi mladen,

I had posted earlier concerning a Dynamic Balance Point Indicator.

Apparently it's based on Drummond Geometry, the work of Robert Krause, and Chaos Theory from what I've read so far.

https://www.mql5.com/en/forum/general

mrtools found something that looks promising called SOKOL. Would it be possible to check the code to see if the parameters can be changed for the DBP calculation?

The SOKOL is coded this way

datetime today = TimeLocal (), serverTime = TimeCurrent ();

int offset = 1, currentDay = TimeDayOfWeek (today), serverDay = TimeDayOfWeek (serverTime);

if (currentDay == 0 ||

((currentDay == 6 || currentDay == 1) && serverDay == 5))

offset = 0;

double high = iHigh (0, PERIOD_D1, offset),

low = iLow (0, PERIOD_D1, offset),

close = iClose (0, PERIOD_D1, offset);

BalancePoint = (high + low + close) / 3;

and the metaquotes code settings I found are written this way,

dt:=DayOfWeek();

DBC:=(HighestSince(5,DayOfWeek()=dt,H)+

LowestSince(5,DayOfWeek()=dt,L)+CLOSE)/3;

DBC

I tried to work on the code in metaeditor and realized I have no idea what I'm doing.

I'm still a beginner with coding so this is way over my head. If you could help me with this I would really appreciate it.

Kind regards,

Fudo

I think this could be a very useful tool if it were set up properly, basing the calculation on a floating 5 day timeframe will give us a completely different vantage point of current support and resistance than the current static weekly/daily pivot methodolgy. Ultimately a MTF version with both the fixed and dynamic levels projected would be excellent for calculating higher TF support and resistance for the lower TFs.

What do you think?
 

Wow! That was amazingly fast. Thank you so much.

That was a great idea to add the flexibility of adjusting the dbpLength and target time frame. very nice.

Is there a way to have the indicator draw the balance point as a horizontal line and factor support and resistance levels off of it based on these calculations?

Resistance1 = 2 * BalancePoint - low;

Resistance2 = BalancePoint + (high - low);

Resistance3 = high + 2 * (BalancePoint - low);

Support1 = 2 * BalancePoint - high;

Support2 = BalancePoint - (high - low);

Support3 = low - 2 * (high - BalancePoint);

mladen:
Fudo From the description this is what I made (it is a daily dynamic balance point on a 4 hour chart - I post this as an example even if it is not supposed to work on a lower time frame, but that is a deviation that I decided to make):
_____________________________ Some explanations :
Even if it uses time frame as parameter it is not a multi time frame indicator. Instead, it uses that time frame to find highs and lows that are used in calculation. For example :
For a length 5 days dynamic balance point, on Friday it will use data from Monday 00:00 till the bar it calculates to find high / low and combined with current close it calculates the balance point
Parameters:

dbpLength-> length (in target time frames) to calculate

dbpTimeFrameForHighLow-> target time frame to use for calculations

_____________________________

As of Drummond geometry, the chaos and the rest that guy is talking about : forget about it. For a daily target time frame dynamic balance point is simply (highest in the last n days + lowest in the last n days + current close) / 3. The metastock code is a weekly dynamic, but I decided to make daily the default time frame (I think it is more suitable for forex) but you can easily use any time frame you like

regards

mladen
 

Fudo,

Will do

As of the comparison : I was right Here is a weekly balance point (works exactly as the metastock formula - for example on the picture it is a balance point from 5 Thursdays ago till today) compared to 25 day daily balance point. Red one is the daily, blue one is the weekly.

As you can see, differences are hardly significant and they are coming from a logical error in metastock indicator : when they are calculating 5 weeks they are actually calculating 5 weeks + 1 day (today) If you set a number of days to 26 in "our" (metatrader version) you are going to get exactly the same values (see the lower picture : the thin black line enclosed within the blue line is the 26 day pbo If today is Thursday then the starting day for a 5 week period can not be Thursday but must be Friday (that is the extra day they are having)

regards

mladen

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