Elite indicators :) - page 94

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right tf

Mladen:Thanks for the new bands,they are more than fine...as usual

GreatYves:Thanks for the Renko script,it doesn`t do exactly the same as Michal`s one but it will more than suffice ...

You know,you are right when you say that the range of a CRB could be the subject of a university thesis...basically,one day I started thinking about...what is the right timeframe?Well,my systems usually work better if I start with H4 as a framing timeframe within which I can then mtf,but I know people that can and do successfully scalp the ES using just m5,m1 and then a tick chart...so,it is obvious that the right TF is not necessarily H4.

Additionally if you read the theories of Trader X(Jason Alan Jankowsky previous nom de plume)about time compression,that basically say that,in regards to trading, 5 minutes are not just 5 minutes...because it is obvious that 5 minutes at the Asian session are not the same as 5 minutes at NFP announcement...so,if we want to "normalize" time in order to compare different periods,we must do so using volatility as the equalizing factor...and then we will be able to understand that 5 minutes at NFP are equal to 4/8 hours at the Asian session....This led me to think...So,we can`t attach the same importance to both M5 periods...BUT...that is exactly what we do if we use a M5 chart,we say that 5 minutes of NFP time are equally relevant as 5 minutes at the Asian session,and this is conceptually wrong,so,our way of charting should be changed.

These theories were very interesting but still didn`t answer my query for the right timeframe,even if they provided another piece of the puzzle(volatility).

Then ,one day, I realized that the right timeframe was no timeframe...If your system works well with H4 use CRBs equalized by the ATR of H4,if your system works well in m15,do the same with CRBs equalized by the ATR of M15...and your results will improve...Why?Because what you have effectively done is to denoise(partially) the timeseries ,with 0 lag,creating a better scenario in terms of Signal to Noise for whatever was working before,to work better now.

The actual stage of my thinking is to test the use Multi CRBs..4 screens each with CRBs equalized to the ATRs of H4,H1,M15,M5 and see if this adds some useful information .

BTW..H4 ATR (100)of GBPJPY has gone from 102 to 79,and we have another 2B buy signal(penetration of previous bottom plus up close plus a close with breakout of the high of the previous bar)in the making(still not completed),so,if the signal happens,it is very probable that we have seen the bottom at 148.58...when volatility compresses,time expands ,and the direction of the previous move is prone to change.

Next week I will start the thread.

Regards

S

 
SIMBA:

Then ,one day, I realized that the right timeframe was no timeframe...If your system works well with H4 use CRBs equalized by the ATR of H4,if your system works well in m15,do the same with CRBs equalized by the ATR of M15...and your results will improve...Why?Because what you have effectively done is to denoise(partially) the timeseries ,with 0 lag,creating a better scenario in terms of Signal to Noise for whatever was working before,to work better now.

(...)

Next week I will start the thread.

Regards

S

Simba, your realization is as enlightening as it is logical. Brilliant.

Looking forward to your thread.

Have a great weekend all. No trading today for me when four witches are flying by...

 
400396:
hi guys,

do we got this one? TripleCCI_Woodies and other CCI Woodies indicators.

and how can i place line on chart that will separate the days?

have a great day .

We have many threads in our forum about CCI Woodies:

- SuperWoodieCCI.

Indicators, trading systems, descriptions, instructions/manuals, wcci patterns and how to trade and so on. Very good thread.

- WCCI indicators' system. Just one system without description.

- Woodie's choppy zone indicator Something about one indicator.

- Jurik Woodie CCI;

- SideWinder for CCI;

- CCI Filter;

- modified version of Woodie CCI (thanks Linuxser).

- https://www.mql5.com/en/forum/177881

- CCi Woodie like + HMA Ogeima Version is on this page.

 

I totally agree, Simba's realization is brilliant indeed. Thank you so much for the information about CRB.

 

Hi,

Hopefully this is the right place to post this, if not could someone please point me in the right direction.

Could someone please mod the indicator Bollinger Band %b (the one I am using is made by Linuxser) for me.

1) Make the price and mode used for the bollinger band calculations chooseable.

2) Have a input to smooth the curve using a moving average (where 1 would be no smoothing)

3) Have it so several (up to three) different periods can be shown in the same chart window, the scale on the window would autosize to the size needed for the largest value.

4) Alerts when a userselectable value is crossed by one or more of the curves (i.e. crossing down over 0.8)

Thank you.

 
SIMBA:
Mladen:Thanks for the new bands,they are more than fine...as usual

The actual stage of my thinking is to test the use Multi CRBs..4 screens each with CRBs equalized to the ATRs of H4,H1,M15,M5 and see if this adds some useful information .

Simba,

once again thanks for your insights. When you're testing, you use Michal's CRB script you've been talking about?

 

...

Nothing to do with the previous ones yet (just something I stumbled upon by the way and it seemed interesting)

A description from a Markos Katsanos book (Intermarket Trading Strategies) :

The age-old problem for many trading systems is their inability to determine if a trending or trading range market is at hand. Trend-following indicators, such as the MACD or moving averages, tend to be whipsawed as markets enter a nontrending congestion phase. On the other hand, oscillators (which work well during trading range markets) are often too early to buy or sell in a trending market. Thus, identifying the market phase and selecting the appropriate indicators is critical to a system’s success. The congestion index attempts to identify the market’s character by dividing the actual percentage that the market has changed in the past x days by the extreme range ....

and

Unlike similar indicators, like the vertical horizontal filter (VHF) orWilder’s ADX, the congestion index is directional for the following reasons:

• It is self-contained in the sense that it eliminates the need for a second indicator to identify the trend direction.

• It is better in identifying trend reversals.

• It provides more accurate readings in cases of temporary pullbacks.

• The chart space is less congested.

PS: signal line is an addition (does not exist in the original) To turn it off just use SignalPeriod< 2.

Files:
congestion_index.mq4  3 kb
cong.gif  17 kb
 

Testing

Snowski:
Simba, once again thanks for your insights. When you're testing, you use Michal's CRB script you've been talking about?

Snowski,

Thanks for your kind words,yes,I will test using Michal`s script,though the same tests could be done with Renko script,and probably similar results.

Regards

S

 
mladen:
Nothing to do with the previous ones yet (just something I stumbled upon by the way and it seemed interesting)

A description from a Markos Katsanos book (Intermarket Trading Strategies) :

and

PS: signal line is an addition (does not exist in the original) To turn it off just use SignalPeriod< 2.

I try to understand, is it showing the ranging in between -20 to +20 and outside -20 or +20 it's trending? Because if you are in a trend change, it obligatory have to pass true this zone without necessarily being in a range state. It almost look like a dynamic rsi.

 

Yves,

It seems that I left out the quote where Katsanos describes the usage . Here it goes :

The congestion index fluctuates between 100 and −100. The larger the absolute value, the less congested the current market. Readings between+20 and−20 indicate congestion or oscillating mode. Crossing over the 20 line from below indicates the start of a rising trend. Conversely, the start of a down turn is indicated by crossing under −20 from above. The CI can also be used as an overbought/oversold oscillator. The indicator signals an exhaustion of the prevailing price trend and warns of an impending price reversal when it reaches an extreme reading either above 85 or below −85 and then reverses direction.

regards

mladen

GreatYves:
I try to understand, is it showing the ranging in between -20 to +20 and outside -20 or +20 it's trending? Because if you are in a trend change, it obligatory have to pass true this zone without necessarily being in a range state. It almost look like a dynamic rsi.
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