Elite indicators :) - page 173

Mladen Rakic
151719
Mladen Rakic  

traderduke

Here you go

The basic problem you had is that you ran into an 8 buffers limitation and that is why it did not work (even though you declared one additional buffer, it was actually not existing (you could eventually see it in run time errors - the "invalid buffer index" error) so room for that additional buffer needed to be made

Anyway, here it is (compared the "old" one up with the new one down)
PS: if you set the smoothing CDPeriod to 1, you are going to get the original (un-smoothed) Schaff trend cycle (so you have all the bases covered, sort of speeking)

regards

mladen

traderduke:
mladen,

I was trying to the add the smoothing effect of one of your "SchaffTrendcycle1" indicator to one that changes color but I failed badly. I left the text of changes in the new indicaror "Schaff Trend Cycle nrp". I was woundering if you could help me correct it.

Thank You

Ray
newtrader100
105
newtrader100  

Alert when both ADX and +/-DI slope up

mladen,

Thanks again so very much for your amazing work.

If it doesn't already exist, might you cook up an alert for ADX that alerts when both ADX line and DI plus/minus line slope up?

And if it's not alot of extra work, perhaps with optional additional confirmation from upsloping deviations?

...Might be getting into EA territory here...

Thanks again and again for your previous help!

Files:
Mladen Rakic
151719
Mladen Rakic  

Correlations - macd to price

These indicators are a part of a test and might be useful in a couple of things.

Original idea came from metastock (I saw in their "formula primer" that they gave an example of correlating macd to price) This one is what is closest to their correlation (and Tradestations correlation) and is putting macd and a chosen price into correlation. The nature of this correlation demands smoothing (result smoothing by all means - set PosCorrSmoothPeriod to 0 and you will see what I mean), and I decided not to use the simple moving average used by metastock in their version but to use Jurik smooth
Immediately a "stronger version" : instead of using the correlation used in the previous, this one uses Pearson correlation. The interesting thing is that it is obvious that without smoothing the correlation is rather poor (just see the comparison : upper is without price smoothing, lower is with a 5 period price smoothing)

To remind : correlation -1 in this case would mean that there is no correlation (translated to other kind of talking it would be what we know as divergence)
Mladen Rakic
151719
Mladen Rakic  

Correlations - RSI to price

A RSI to price version of Pearson correlation

Interesting is the high correlation even without any smoothing

Mladen Rakic
151719
Mladen Rakic  

Correlations - Stochastic to price

A Stochastic to price version of Pearson correlation

And a logical result : correlation is not that high as one would expect taking into account the wide spread usage of Stochastic
That would be it for now. Appart from seeking for divergences, I think that these indicators are showing a bit more : nature of some indicators and what we should or shouldn't expect of some of the indicators (or can we use some of them for divergences or not)

A pleasant weekend to all

casaliss
109
casaliss  

Average Directional Movement Index

Hi Mladen

Average Directional Movement Index

Non Or Interpolate

MultiTimeFrame

Thanks

traderduke
531
traderduke  

Schaff Trendcycle1

mladen:
traderduke

Here you go

The basic problem you had is that you ran into an 8 buffers limitation and that is why it did not work (even though you declared one additional buffer, it was actually not existing (you could eventually see it in run time errors - the "invalid buffer index" error) so room for that additional buffer needed to be made

Anyway, here it is (compared the "old" one up with the new one down)
PS: if you set the smoothing CDPeriod to 1, you are going to get the original (un-smoothed) Schaff trend cycle (so you have all the bases covered, sort of speeking)

regards

mladen

mladen,

I had hoped by leaving my feable attemp at programmiing in the text you would show me the errors of my ways.Thank you very much for the explaination and programming lesson. With each nugget of knowledge I hope to bother you less.

Thanks Again

Ray

Mladen Rakic
151719
Mladen Rakic  
Files:
jamesphuc72
127
jamesphuc72  

Dear Mladen. Please tell me how to use this indicator. Thanks a lot

Dear Mladen,

I wish to learn how to use this indicator properly (when to go short, and when to go long, based on what signal?, where to put stop loss, and take profit? and which time-frame is good to use this indicator?).

Thanks for your information.

By the way, your indicator is really very nice. If I know how to use it correctly, then, it will be very perfect.

Regards,

James

Mladen Rakic
151719
Mladen Rakic  

James

Entries should be easy : when it changes the direction (color) one should enter. Just an impression : my first impression is that it is good for scalping (so that it could be used on 5 minute time frame for example : here is a picture of a 15 minute swing line on a 5 minute chart - placed a comment where roughly you can see where would you gain or loose (but it is just a rough estimate))
But also, longer time frames seem to be showing some good signals, so, it is up to individual to find out a best suited way to use it (suited to ones needs and preferences)

__________________________

As of stop losses : maybe a good way of managing stop losses would be to use a trailing stop (that could prevent some orders already in gain become a losing ones - in case of sudden opposite swings - and it could prevent those "price excursions" on the opposite side of the swing line cause premature closes) In any case, a position should be closed if the direction changes

__________________________

The good thing about this indicator is that, unlike other swing detecting indicators, it does not change previous signals (a lot of swing indicators are in fact a kind of a zigzag, this one has nothing to do with a zigzag) So, if the color is changed and a bar is closed, it will not change.

PS: since the indicator depends on highs and lows, and since those can change on an opened bar, one should wait for the bar to close (so if you use alerts, set the alertsOnCurrent to false)

regards

mladen

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