Adaptive lookback indicators - page 22

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...continued from above

Hi Mladen,

I've provided an indicator that has the adjustable 'bar level' feature I'm hoping you can incorporate into your histogram indicator. I hope this helps in your understanding of what I'm requesting. Please note that I only require the change in slope colours that you've already programmed whereas the attached indicator has three colours for zones changes.

Thank again!

-spotforex

multisymbol_color_rsi_lq_1.0m6.mq4

 

spotforex

Here is this version.

It enable you to do what you described but a bit different than your reference, but I think that it is going to be easier to set up what you are after with this one. First of the parameters : metatrader can not change #property values like maximum dynamically from the code, and then a "trick" must be used. For that purpose ValueMaximumparameter is used. To specify upper bound (maximum) of the indicator (ps: you must use same maximum for every instance of the indicator you plan to have in a same sub-window). ValueToSetis used to specify what value you want for the current instance of indicator to be used when it is drawn on chart. By combining those 2 parameters you can set up as much indicators in a same window as you want to.

Here is an example of 4 different time frames in a same sub-window with only 4 hour indicator showing arrows on chart

regards

Mladen

 

Greetings Mladen,

Thanks again for fulfilling my past requests. Words can't describe my appreciation for your time and effort in bringing my ideas into fruition.

While perusing Mark Jurik's website I came across a comparison of his RSX and VEL:

How does VEL compare to RSX ?
Both VEL and RSX measure market momentum.

VEL measures momentum direction and speed accurately to scale. If bar-to-bar price changes double in size, VEL's chart will double in size. In other words, VEL provides true momentum.

This makes VEL not useful for thresholding, such as when you want to trigger a BUY/SELL when VEL crosses over/under a (non-zero) threshold value. The reason is because the threshold will require almost continuous readjustment as the magniture of price changes grows/shrinks over time. However, this property is very useful in divergence analysis, where you want to accurately compare price turning point values to momentum turning point values. CLICK HERE for a graphic example of this use in divergence analysis.

RSX, in contrast, measures momentum direction and **quality**, not speed. If trend quality is pure (i.e. having tiny reversals) then RSX signal is strong. If quality is weak, such as when a trend is congesting into a trading range, then RSX signal becomes weak. This makes RSX ideal for showing market reversals and the demise of trends weakened by excess volatility.

RSX is also bounded between the range of 0 to 100. In contrast, VEL is unbounded and can have any value. This scale-invariant nature of RSX makes it suitable for thresholding, as the threshold level does not need to change over time, as it would for VEL. Consequently, you can define BUY and SELL zones with RSX, whereby a SELL order is never executed when RSX is above the BUY ZONE threshold level, and a BUY order is never executed when RSX is below the SELL ZONE threshold level.

Since you've created a RSX pa adaptive - alerts & arrows indicator, could you create a VEL pa adaptive - alerts & arrows version? Based on Jurik's statement above, this should make for a great divergence indicator. And rather than having an alert on slope change, can you modify it for zero crossovers. Although VEL pa is adaptive, would it be possible to have an adaptive zero line just as you've created with your dynamic zone indicators?

Thanks again!

-spotforex

mladen:
spotforex

Here you go

regards

Mladen
 

Velocity pa adaptive

spotforex

Here it is Again, I used default parameters that could make it roughly comparable to velocity 14, but, as usual they are just similar. Here is a comparison of the pa adaptive (upper) and the regular (lower)

The rest of the features is already : alerts, arrows, inverted, for symbol ... but since velocity is not that smooth as rsx, one should be careful with slope direction changes.

regards

Mladen

 

Distribution versus Nearest Window

Not sure whether to post this to 'Adaptive' or 'Dynamic' thread

Mladen, how about picking a few of your favorite adaptive and/or dynamic indicators and modify them to use the distribution of values to vary / adapt / 'dynamize' the indicator?

At present, the (adaptive/dynamic) modification of the indicator is driven by a (an adjustable) near term window or smoothing.

Instead, scan the previous n (100s, 1000s ?) bars and create deciles (octiles, n-tiles ?) to hold the distribution counts.

If not too difficult, add the capability to use (A) center or (B) +/- n-standard deviation values

In this way, the indicator is driven by...

(A) the statistical 'nature' of the indicator and not merely the recent past (as in, perhaps the indicator's 'nature' or real tendency is reflected in its distribution not just where it was 14 bars ago)

-OR-

(B) reversals (or even breakouts, I suppose) played off of extreme values based on the +/- n-standard deviation.

 

Hi MrTools,

thx for this, this is a good one. I have a problem when i switch from h1 to h4, the arrows are scattered all over the chart, as if it doesn't refresh or something. I have two channels, h1 and h4 both are set with arrows to true.

Any idea?

 

Try this version

 

Thx guys for being so quick, the latter is working for me.

Thanks again.

 

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