Elite indicators :) - page 167

peterke
54
peterke  

Triangular bands request

umeshkathuria:
mladen, Kindly consider this request. Thanks

I think an alert when the price touches the band ( the first time for each candle) would be more effective. Otherwise it could be nearly two periods before a signal is given. Use would then be able to watch for an entry from this point ( first touch)

I use the triangular bands as part of a 1 hour scalp setup and an alert would be hlpful

regards

Peter

umeshkathuria
30
umeshkathuria  

Hi

I have tried to add the alerts, email and arrows at these points but there is some error in the code. it is getting compiled properly but when I attach it to the chart, its not showing arrows properly. Can anyone help me fixing it.

Umesh

umeshkathuria:
mladen,

Kindly consider this request. Thanks

mladen,

Kindly consider this request. Thanks

Quote:

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

Quote:

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

Mladen Rakic
151720
Mladen Rakic  

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

Fudomyo
89
Fudomyo  

Thank you mladen!

It's very interesting how this works! The SR levels seen to work really well on the 30M and 1H TF for ranging markets. (it seems to go out of sync a bit on break outs, is that because it's factored on the last period balance point?)

I'm not sure if you saw my last post concerning the fixed balance point versus the dynamic balance point for the SR levels, but I have a feeling the intention of the dynamic point is for trend determination and the fixed balance point is for SR.

does that make sense?

kind regards,

Fudo

mladen:
Fudo,

Here is the pivot version of dynamic balance point.

One additional parameter : dbpTimeFrameForPivots. With it choose the period for which you want the pivots to be calculated (so it can draw horly pivots, 4 hourly pivots, and so on... )
In the formula you supplied I used
previous period balance point highest for high

previous period balance point lowest for low

previous period last balance point (a sort of close) for balance point
regards mladen
umeshkathuria
30
umeshkathuria  

Thanks mladen

Thanks a lot mladen

This is exactly what I was asking for. I really appreciate your efforts.

Thanks and Regards

Umesh

mladen:
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
Alex
93
Alex  

Request for midpoints

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 regards

Files:
dj_lines.mq4 5 kb
Mladen Rakic
151720
Mladen Rakic  

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

profitrader21:
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 regards
umeshkathuria
30
umeshkathuria  

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

mladen:
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
umeshkathuria
30
umeshkathuria  

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

Umesh

peterke
54
peterke  

TMA alerts

mladen:
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