Thank you so much..
Here you go
Thank you so much, Mladen.
Just the way I wanted it.
Much appreciate you.
I need a quite complicated indicator.
First of all it will be like renko chart. In separate offline chart with live update.
I try to explain the construction:
Suppose I start to do the calculations at the beginning of a new candle.
The indicator should calculate the range that is being formed, then a maximum or a minimum, I think, and when he reached the range of x (external variable in pips) closes the candle on the chart offline restarting the calculation.
The purpose of the indicator is to try, assuming you know the range of laterality, capture only the large movements of the cross.
I hope I was clear enough, but any additional indication deems appropriate, ask.
Linear Regression Channel with automatic Length
im currently in linear regression channels.
the main problem seems to be to find the optimal length of the channel.
would it be possible to autamticaly define the optimal length by using a zig zag?
and if so, is there already an indicator who does this or could this be coded?
thank you very much and best regards,
Thank you Mladen! appreciate it.
Swami rapid RSI ...
Swami charts revisited
This one is using rapid rsi calculation with an addition of price pre-filtering and result post smoothing (if one wishes it) so it is a bit more flexible, a bit faster and a bit more adjustable than the "regular" swami RSI, Second example is with filter set to 15
Hey Mladen, where can one find out more on how to use indicators like that swarm one. How do we go about using the colors with the indicator?
In the original Ehlers (see his site where he introduces some of those : http://www.swamicharts.com/Swami/ ) used colors only and the "amount" of color was to show what is the trend. But since I think that it is very difficult to use it in that way (try it out - set the color of the "generic" value to none and try to use it then) I decided to add the "generic" value that can be used then as any other indicator with overbought and oversold levels crosses. In that case colors are additional information and a possible early warning of change. Also, It is interesting that the "generic" value tends to be robust and highly responsive in the same time (to my surprise since it takes an average of a whole series of values) and it makes it a bit better than the "underlying" indicator used
So, in short, that is how I use them.
Mladen i attach an image that can explain what i need.
Let assume that i put a 10 pips range like renko bar. The difference is that the indicator have to calculate it from new high or new low if the candle is not close.
It is not necessary the past chart. The live is sufficient
Waiting your reply,
Thanks for the info and advice Mladen.
RSI swings 2 ...
This is this indicator : https://www.mql5.com/en/forum/178733/page22 with and addition of rsi methods choice (0 -> rsi, 1 -> Wilders rsi, 2 -> rsx and 3 -> Cutller's rsi) and price filtering option. It can be adjusted a bit more and more precisely this way and I think that all in all it makes it a useful indicator. As usual some parameters experimenting is advised (see the lower example with period set to 20)