I will do some research into this.
Just one additional thought :
Donchian channel is very frequently used in a "channel breakout" systems. In a system like that (channel breakout), using current bar for highest highs and lowest lows is more or less meaningless since a breakout will never happen (due to immediate adapting to newer highs or lows) so, for a breakout systems, I think that the one that uses just already closed values should be used
Yea that is exactly what I have done.
I've started learning mql, not to hard to pick up, but the biggest issue is knowing the raw understanding of the various forex indicators and their associated algorythms and more particular when and how they are used.
To this I am clueless, hence my questioning as to whether these algorythmically correct
But if you ask me to write you a 3D Engine in AS3 or c# I will do that blindfolded for you :-)
Thanks again for your input.
Thank you mladen
was asking my self why your TTM_ssa_bars indi doesn't draw any yellow bar when ranging (preset value).
It is not made by me (the TTM_ssa_bars) but never mind
It will show yellow bars only when two consecutive SSA values are exactly the same and it is not likely to happen (comparison is done on double values without any rounding, and the way SSA works, it would mean unchanged price for quite a couple of bars)
Probably with normalization (rounding) or some additional condition (something like : "if absolute slope is less than some value then it is ranging") would show ranging bars
thx mister Mladen
Would you happen to know if MT4 has the ability to supply enough data to implement something exactly like the Volume Patterns as implemented by
Volume Patterns – How to Spot the Professionals at Work
I can only assume the reason that this indicator has never exhisted for MT4 is that MT4 does not provide sufficient data. If this is the case would you know if MT5 will start support additional data on it's feeds similar to platforms like TradeStation and NinjaTrader?
With regards to the indis that emni-watch.com has, I do know that someone on Forex-TSD was able to successfully re-create the "Better Sine Wave" (although I do not know if the author of the indicator, know called 'Sinewave with S&R.mq4' used an improved version of John Ehler's Hilbert Sine Wave) I also beleive that the "TheRumpledOne" (TRO) managed to create an enhanced version of the "Better Volumes" indicator (although it is missing the paint-bar option))
On a side note: I beleive that the John Ehler's - Hilbert Sine Wave is quite a remarkable piece of technical analysis.
It was almost 2 years ago on FF when they were experimenting with VSA indicator but frankly I did not follow that to much (Metatrader 4 never had anything like volumes - only ticks so I did not pay too much attention to what was going on there. Metatrader 5 will have volumes but it will not have volumes for forex symbols again). I do not know who made the VSA indicator there (vaguely think that it was "malkolm"), but sure as hell it was not TRO (TRO's "work" always consists of just one thing : patching a couple of labels and calling it "improvement" in order to be able to ask for donations for something he never did).
As of VSA itself : VSA as is is working with ticks and one should always bare that in mind - those are ticks not volume
With regards to the indis that emni-watch.com has, I do know that someone on Forex-TSD was able to successfully re-create the "Better Sine Wave" (although I do not know if the recreated indicator called 'Sinewave with S&R' used an improved version of John Ehler's Hilbert Sine Wave) I also beleive that the "TheRumpledOne" (TRO) managed to create an enhanced version of the "Better Volumes" indicator (although it is missing the paintbar option)
On a side note: I beleive that the John Ehler's Hilbert Sine Wave is quite a remarkable piece of technical analysis.