Thank you seems so inadequate..
Use this one instead. This one avoids those errors as well as some repainting errors
Good morning Mladen,
Thank you once again from the bottom of my heart. Much appreciative your expertise.
Request for an indicator..
You are such a brilliant man, could you possibly create an indicator for me that will ALERT me when the price hits the Bottom/Top bands of the ordinary "Envelopes" indicator found under the Indicators Folder in MT4.
Attached is a screen print to show you what I have in mind as well as a simple template to illustrate it best for you.
Many thanks for even considering it.
Choppy Market Index
This is from the most recent CurrencyTrader Magazine (aug 2011): the CMI indicator (Choppy Market Index).
Can you code this for mt4, the calcs appear to be rather simple. And perhaps we can improve this mousetrap even more?
I've attached the relevant article from the magazine (it's a free mag).
Cheers and have a great weekend everyone.
Choppy market index ...
Here you go Along with the document you posted (since Daniel Fernandez describes a complete trading system in that document - default levels are set for that trading system) I think it can be tested now and, in if we see some mode that could improve it, to improve it.
Please tell me how to call this indicator in an EA and the buy/sell logic.
Is it suppose to be "inverted"?
Is the "Choppy Market Index" supposed to be inverted?
No. It is coded as the original document (posted by Snowski) describes and requires. It is not a "trend showing" indicator, but it is best to read the document for explanations how to use it from the original author of the indicator itself
This is one way.
trendNow = iCustom(NULL,psarwmatf,"Parabolic_wma_envelopes_histo for ea",Periods,UpperPrice,LowerPrice,Power,Deviation,4,Current);
trendPrv = iCustom(NULL,psarwmatf,"Parabolic_wma_envelopes_histo for ea",Periods,UpperPrice,LowerPrice,Power,Deviation,4,Current+1);
if (trendNow!=trendPrv) // trend change
myOrderType = 2; // trend is up
myOrderType = 1; // trend is down
you can make the time frame an external parameter, and think this would be good way to code an Ea if you want to use only 1 indicator, and buy or sell on the slope or buy when price going up(blue) and close buy and sell when price going down(red). Made a ea version of the indicator.
This is Frama on jurik with alerts on slope change and mtf.
Have this version if you want regular sma envelopes just set method to 0, has alerts on either high,low breakout or close breakout, also has dots that shows breakout and price moving back inside the envelopes. You have the possibility of 10 different averages 1=SMA2=,EMA,3=SMMA,4=LWMA,5=LSMA,6=TriMA,7=SWMA,8=VWMA,9=HullMA, and 10=NonLagMA"
updated version posted here: https://www.mql5.com/en/forum/general