Is there a problem with this indicator. Please let me know so I may have a settled mind. Or do you know of any that may be working like it ?
As far as code is concerned, no problem
But as far as crosses (since touches are as rare as it gets when it comes to time series values - almost impossible to have same values) there can be 18 x 2 = 36 types of alerts in that indicator, and it takes some time to make it
hi mladen or mrtools,
Give it a trend watcher for TMA Bands, it identified the TMA trend?
-Down, UP, Sideway ... strong , weak.... etc...---> an additional notification
What should the criteria for sideways, strong and weak could be?
Slope of the centered TMA can change all the time for the last half period bars, and the slope depends on time frames (the higher the time frame, the greater the slope in points/pips is regardless that they look like they are the same).
We need some mathematical criteria that would uniquely define any of those states, and so far I haven't found any reliable math formula that could do that automatically
thanks for the explanation
Thank you very much for the reply. The mathematical criteria I have not though.
I had thought on a general trend-measuring-indicator. That it the chart supervises.
for example :
So similarly as the GMACD SIGNAL indicator.
Perhaps on the basis of the MA's.
That it recognizes a sideways trend.
GMACD takes trends from a couple of time frames and the takes an average of those multi time frame trends. That solution is not applicable to an indicator like the one you are trying to use
Ok. That is correct.
I thought therefor, you have it.
I would like have to filtered only the sideways trend.
But it doesn't matter.
Then I keep looking.
But the RSI-EMA (crosses) & filtered Stoch is highly necessary.
I apologize, if my English grammar is bad. But my English instruction is already very a very long time ago.
i found this in the inet...
“Sideways Alert Indicator is a very effective tool to indicate sideways conditions on live charts and to determine its levels. It helps us trade within the range or trade the breakout or just simply to filter out sideways market conditions.“
But I don't know whether it works in the M5 TMA centered band .
Is only a demo version. I think it will be calculated on the price level. (breakout trading)
that's right, you're right.
Perhaps, if it would be calculated only for one period, it could work. As an example of M5.
or what do you mean?
In Germany, we say to complex matters, a proverb. It is a difficult birth.
But my dear friend mladen.
The TMA BAND thing can wait.
the EMA RSi filtered Stoch idea is importantly.
thank you very much