OF OSMA histogram : Yes The previous was having that coding error in it
And just for the sake of compromise, added one option into OEOB : UseMTOSMA. If you set it to true it will use that faulty built in OSMA calculation, if it is set to false it will use the original Gerald Appel MACD (and ultimately OSMA) calculation. This way you have all the bases covered but be advised that metatrader built in MACD and OSMA are not what the original MACD and OSMA are
O e o b indicator
Hello mladen, thank you very much for your skillful services. I would like to know if the O E O B indicator is a stand alone indicator or to use it we must also have all 4 indicators that it consists of.
It is a standalone indicator (everything is embedded in it)
hello mladen, THANK YOU VERY MUCH, may your skills be increased
Bollinger band bars
You posted an indicator on the public thread called bollinger band bars. Attached is a version with a second deviation band. I was wondering if it would be possible to make a new indicator that draws dots that change colour based on certain conditions. Considering that there are not enough buffers in the original to do this but this version would be an alerts version with out all the drawing.
The idea is to that when the bars are above zero an orange dot would form when the high of the candle touches the first bollinger band and a red one when the second bollinger band is touched. Ideally, it would turn green when the close of the bar is bellow the the first bollinger band.
The idea is to create an exhaustion bar indicator along the lines of the what is found in Wave59. I don't know the logic behind that one but eyeing the values on the chart, this could serve the same function.
Will see what can be done. In my experience the trickiest is to do the "touches". It is almost never a touch, so we need some tolerance in the touches (if it is within the toleranec to band then we could assume that it is "touching" it) Will try with % tolereance and will get back with it
Yes, I understand the problem. I have mine set to longer lengths so that the bands are flatter so the conditions are easier to see.
Bollinger bands bars with marked touches ...
Try this version out.
Used this kind of "arrows" since they are always positioned at the correct price (unlike some other arrow types which have displacement from the price they are actual drawn at) You can choose other arrow code in the parameters(dot is 159 for example) Tolerance is set in percents. Colors are adjustable for all touches as well the visibility of the "touches" (you can turn them on or off)
This is very cool. Great for curve fitting standard Deviation levels.
Thanks so much!!!!
Here is a picture of the bb bars set to 50 with 2 and 2.618 Std. Deviations. I have set the tolerance at 8 to highlight an issue which might make this a better indicator. The tolerance is working fine for bars that don't quite reach the bollinger band. If we look at the last hourly signal, there is a wick above one the previous bar. Is there any chance to add a dot above those wicks to say, we are really overbought at this point? Apart from that one thing, it works very well.