Requests & Ideas - page 173
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Zigzag with Volty Channel Stop ?
Try out this one
Left the lines one on the chart simply for comparison with the "line version". Dots are drawn by this one
Hi mladen,
is it possible to combine the zigzag with the attached Volty Channel Stop, with the trailing stop starting points equal to the zigzag points ?
mladen
I cannot help myself asking if there has been some development work on making an EA version of the TF Digital Filter (pls see the post 1708). As an EA to trade only from time to time with low risk and using as many pairs as possible, I think it has some great potential for long term trading. An ensuing discussion on its testing results could be very fruitful and stimulating for this Forum. I know I shouldn't ask have asked again but are we not always looking for ideas to improve trading?. I could add further indications if it helps.
Rsi ( multi level ) histo
Hello mladen and mr tools, i made a request for your kind consideration on the rsi indicator thread ( post 346 ) which is yet to be responded to, so i was wondering if maybe i placed it at the wrong thread and if so possibly move it here,thanks
Wilders dmi summed
HELLO MLADEN, THANKS ONCE FOR THE RSI MULTI PERIOD/MULTI LEVELS WHICH YOU NAMED RSI SUMMED,ITS VERY BEEN VERY USEFUL. I WOULD APPRECIATE IF YOU CAN KINDLY CREATE A WILDERS DMI SUMMED ( HISTO ),IT WOULD HAVE PROVISION FOR AT LEAST 6 DIFFERENT PERIODS EACH WITH ITS OWN LEVEL e.g, 15; 20; 25; 30; 35; 40. WHEN ALL 6 PERIODS RISE ABOVE THEIR RESPECTIVE 6 LEVELS ( AT THE CLOSE OF A BAR ) IT SHOWS GREEN COLOR AND WHEN ALL 6 PERIODS FALL BELOW THE 6 LEVELS IT SHOWS RED COLOR. IT WOULD SHOW GOLD COLOR WHEN THESE CONDITIONS ARE NOT FULFILLED. THANKS FOR YOUR INVALUABLE SERVICE.
winner246
Just to clarify : you do know that the value of the DMI itself is not indicating the dirrection of a trend? The direction is determined from the DI+ and DI- values. So, as an example, DMI can cross all those levels specified by all calculating lengths and, let say, half would indicate down trend and half would indicate up trend. In that case (since it can happen) those readings would be highly misleading
HELLO MLADEN, THANKS ONCE FOR THE RSI MULTI PERIOD/MULTI LEVELS WHICH YOU NAMED RSI SUMMED,ITS VERY BEEN VERY USEFUL. I WOULD APPRECIATE IF YOU CAN KINDLY CREATE A WILDERS DMI SUMMED ( HISTO ),IT WOULD HAVE PROVISION FOR AT LEAST 6 DIFFERENT PERIODS EACH WITH ITS OWN LEVEL e.g, 15; 20; 25; 30; 35; 40. WHEN ALL 6 PERIODS RISE ABOVE THEIR RESPECTIVE 6 LEVELS ( AT THE CLOSE OF A BAR ) IT SHOWS GREEN COLOR AND WHEN ALL 6 PERIODS FALL BELOW THE 6 LEVELS IT SHOWS RED COLOR. IT WOULD SHOW GOLD COLOR WHEN THESE CONDITIONS ARE NOT FULFILLED. THANKS FOR YOUR INVALUABLE SERVICE.
Dmi summed
HELLO MLADEN, THANKS FOR YOUR PROMT RESPONSE. I understand your observation sir,however with the particular periods and levels i recommend for its default setting, its IMPOSSIBLE FOR ALL 6 CONDITIONS TO BE FULFILLED ON THE SAME BAR FOR BOTH THE DMI + AND DMI - ( I USE IT ON THE 1 HR CHART ) and for this reason UNLIKE THE Wilders DMIPM HISTOGRAM WHICH YOU HELPED WITH SOME TIME AGO,WE DONT NEED to place THIS INDICATOR ON 2 DIFFERENT WINDOWS TO SEE BOTH DMI + AND DMI - SIGNALS. IF ITS OKAY, YOU CAN USE THESE PARAMETERS AS ITS DEFAULT SETTING; THE PERIOD COMES FIRST FOLLOWED BY ITS LEVEL. DMI 1,45; DMI 2,40; DMI 3,30; DMI 4,25; DMI 10,20; DMI 36,15. THANK YOU FOR EVERYTHING.
Dmi summed
Hello mladen, as per your comment about its area of use, the signals from this settings indicate momentum which serves as a credible filter ( along with other filters ) for entry - points.
Wilders dmi summmed
HELLO MLADEN, Just to be sure you understand me clearly, i explain further the signal rules. When DMI + Period 1 is ABOVE Level 45, 2 is above 40, 3 is above 30, 4 is above 25, 10 is above 20, and 36 is above 15, the indicator will show GREEN COLOR ON ITS HISTOGRAM BARS. When the DMI - of the same 6 periods are all above their respective Levels, the indicator will show RED COLOR. GOLD COLOR appears when all 6 conditions are NOT Fulfilled for either DMI + OR DMI - .THANKS FOR EVERYTHING.
...
winner246
Here is one example of Wilder's DMI
So the only value that is related to a level is the DMI itself. Values of DI+ and DI- are not related to any level and the values of DI+ and DI- are strictly to be treated in their relation.
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PS: Even Welles Wilder sometimes calls DMI as DMI (Directional Movement Index) and sometimes ADX (as he calls it Average Directional Movement) I prefer to use the DMI for multiple reasons (one of it being the fact that metatrader ADX has nothing in common with the real ADX as far as values are concerned).
Now, I hope this clarifies how Welles Wilder wanted us to use the DMI (ADX)
HELLO MLADEN, Just to be sure you understand me clearly, i explain further the signal rules. When DMI + Period 1 is ABOVE Level 45, 2 is above 40, 3 is above 30, 4 is above 25, 10 is above 20, and 36 is above 15, the indicator will show GREEN COLOR ON ITS HISTOGRAM BARS. When the DMI - of the same 6 periods are all above their respective Levels, the indicator will show RED COLOR. GOLD COLOR appears when all 6 conditions are NOT Fulfilled for either DMI + OR DMI - .THANKS FOR EVERYTHING.
Dmi
Hello mladen, thanks for your response. Maybe this is what i need. Would you be kind enough to create another version of wilders dmipm histogram which you created some time ago. The only change is that it will have 6 periods ,each period with its level. Thanks for everything.