Elite indicators :) - page 226

Mladen Rakic
151718
Mladen Rakic  

Apeiron

That is a decompiled code (very difficult to read) and at a first test it has a lot of errors in it (try periods over 300 if you can spare crashing your metatrader, it will cause you an immediate "no response")

Even though I can not tell a 100% sure what is it at a first glance it as a kind of a smoothed stochastic. Here is a comparison of max bars and a stochastic with same period set.
Will try to find out exactly what is it (as I said, at a first glance it is a stochastic with an unusual variation of linear weighted ma used for smoothing instead of simple MA, but that is just a first impression) but can not promise anything (as I said, decompiled code is very hard to change) and with the errors found even after this short testing I would not like to run into some other error of it blindly (an error that would cause similar terminal hanging)

regards

Mladen

Apeiron:
Hi Mladen

MTF or Interpolate

0.75 And -0.75 Levels Alerts

Thanks
Files:
jamesphuc72
127
jamesphuc72  

Thanks Mladen. How to use this new indicator?

Hi Mladen,

+ Thanks a lot for your hard work to improve this good indicator more and more.

+ From your newest version that has Weekly data with 1.00, 0.618, 0.500, and 0.382, I noticed there are 2 types of 1.00, 0.618, 0.500, and 0.382 (upper and lower level), but I don't quite understand how to use this new indicator.

So, I just would like to know from you that if these are Fibo retracement levels like those fibo indicators? So, in an uptrend, we just need to wait for price to retrace down to either 0.382, or 0.500, or 0.618 for a Buy setup ? and in a downtrend, we just need to wait for price to retrace up to either 0.382, 0.500, or 0.618 for a Sell setup ?

These levels are automatically calculated based on weekly price data? So, it means that these levels are stronger than the normal 0.382, 0.500, or 0.618 based on Daily price data ?

I am sorry to ask you these basic questions, but this new indicator seems very good, and I need to understand the logics behind it so that I can use it properly and correctly for my trading arsenals.

Thanks a lot for your detailed explanations soon.

Best regards,

James

Mladen Rakic
151718
Mladen Rakic  

James

That indicator is meant to draw any levels calculated according to pivot point and previous period range. So it is a kind of "static" levels indicator and not dynamic ones. Retracement versions of fibo levels I have seen so far are almost all tied to ZigZag indicators where depending on the type of the peak (upper or lower) the direction of the fibos are found.

As of using fibo levels (any fibo levels) : I think I am not a good one to explain their usage. Maybe someone that uses them regularly in trading can present results of levels usage in forex market. The indicator I made, made because there was a request for a reliable (calculation wise and and flexibility wise, hence the option to add any level and any number of levels : to make it possible to draw all the levels with one indicator and to make it possible to try any level without a need to recode the indicator) fibo levels indicator. Honestly, I do not trade fibo levels but then I never traded levels in more than a "recreational manner" and as I said, I am not someone that can give you reliable results of any similar levels trading

regards

Mladen

jamesphuc72
127
jamesphuc72  

Thanks Mladen.

Hi Mladen,

Thanks a lot.

It's fine. I just thought you would know how to use this indicator with best results. So, I will try to figure out how to use it most effectively.

By the way, as requested in my previous post, is it possible that you can add some ABCD Patterns, and some harmonic patterns into this Fibopivot indicator?

I noticed that on either H1 and H4, the ABCD Patterns appear quite often (especially on H4). So, if you can add some harmonic patterns into this indicator, it will be very good and helpful to traders for visual viewing and easier spotting of a reliable trade setup.

Thanks a lot

James

halvardu
131
halvardu  

Hi Mladen!

Can you please make alert on this indicator?. I was thinking about alert when i crosses the zerro line and also an alert when it crosses the 55 and -55 levels.

Hope you have the time?

Regards, halvard

ccjjaa
2038
ccjjaa  

Fibos

jamesphuc72:
Hi Mladen,

+ Thanks a lot for your hard work to improve this good indicator more and more.

+ From your newest version that has Weekly data with 1.00, 0.618, 0.500, and 0.382, I noticed there are 2 types of 1.00, 0.618, 0.500, and 0.382 (upper and lower level), but I don't quite understand how to use this new indicator.

So, I just would like to know from you that if these are Fibo retracement levels like those fibo indicators? So, in an uptrend, we just need to wait for price to retrace down to either 0.382, or 0.500, or 0.618 for a Buy setup ? and in a downtrend, we just need to wait for price to retrace up to either 0.382, 0.500, or 0.618 for a Sell setup ?

These levels are automatically calculated based on weekly price data? So, it means that these levels are stronger than the normal 0.382, 0.500, or 0.618 based on Daily price data ?

I am sorry to ask you these basic questions, but this new indicator seems very good, and I need to understand the logics behind it so that I can use it properly and correctly for my trading arsenals.

Thanks a lot for your detailed explanations soon.

Best regards,

James

Hi

There appears to be 2 schools of thought on how fibo levels are used in an up trend for example some draw the fibo from 0 to the 100 level at the top some 100 to 0, so this means that a retracement to the 61.8% can either be 40% or 60% of the move personally i understand a retracement to the level of 61.8% to be a 40% move down from the 100% high. How do others use fibos.

Regards CJA

Mladen Rakic
151718
Mladen Rakic  
Apeiron
40
Apeiron  
mladen:
Aperion I was wrong : it is not a variation of a stochastic (as I said, very difficult to read from decompiled code) It is a Spearman rank autocorrelation. Here is one version made by rosh (just removed the Maxrange parameter - no need for it, but be careful with long ranges - it is heavy on the processor for long ranges) and a comparison of the two indicators (rosh original can be found here : Коэффициент ранговой корреляции Спирмена - Spearman's Rank Correlation - MQL4 Code Base)
If you thought that the story ends here, you were wrong The "max bars" indicator is a renamed indicator that was also doing the favorite renaming sport and which renaming was allegedly done by Mark Jurik himself : the Jurik TPO. So now we have a renamed Spearman (jurik TPO) and a renamed renamed Spearman (max bars since it renamed tpo). Here are the 3 compared
As a conclusion : a history of this one is really interesting (considering the obvious resemblance to stochastic in its auto correlation version in some cases, even more interesting) Anyway, same old story after all

Thank you very much

Mladen

J_TPO_Clean.mq4

MTF And Interpolate

0.75 And -0.75 Levels Alert

Apeiron
40
Apeiron  

Pictures

*Pictures*

Files:
pictures.jpg 112 kb
Mladen Rakic
151718
Mladen Rakic  

Aperion

Since the original is by all means Spearman rank and since there is no significant value difference between the two, here is this version of Spearman rank mtf, interpolated with alerts added. Alerts are triggered on :
LevelUp broken up

LevelUp broken down

LevelDn broken down

LevelDn broken up

regards

Mladen

Apeiron:
Thank you very much

Mladen

J_TPO_Clean.mq4

MTF And Interpolate

0.75 And -0.75 Levels Alert