Here is a version that has 2 dtosc values and 2 signal lines and which is placing arrows and triggering alerts only when both dtosc values cross the signal line in a same direction at exactly the same time. It is doing the same thing in multi time frame mode too
Thanks Mladen. It's working fine. This is a great Christmas gift for me. The smoothing, damping and noise settings you've created makes this an excellent indy where the user has so much control.
Do you think it will make any difference in the long term, whether the slower stochastic is inputted first or the higher one first? I have two indies on the chart; the first with settings
5-3-3 then 14-3-3 and the second with 14-3-3 then 5-3-3. The matchups are not identical in all cases.
The last part of my request would be to have an EA made from this if you can. Thanks again.
There is an error in that version (was trying to be too smart and to do what usually goes into 2 loops in one, and then I made a mistake ). When you mentioned that they differ, it was a clear sign that something is wrong (because they must be same if you invert the parameters). Here is a correct version of the indicator (tested that parameters inversion too and now it is working correctly)
PS: leaving the incorrect version too at its original post (mainly as a reminder to me what not to do any more). First value (dtosc+signal) are not going to change. The error was in second value calculation
On this version, the red line is now flat and there are no alerts.
This is how that version (version 2.01) from that post looks like on my PC (used multi time frame) and alerts are working correctly (see the second picture)
Ok, I checked it, it was my doing...it's fine now. Thanks. Can an EA be made from it?
Best to test it now in forward testing for some time and if it proves to be successful in such forward testing, then to start making an EA
I have been testing it for months actually on multiple pairs to get the right settings and it performs extremely well on the EUR-USD and CAN-USD. I have been using two of the same indicators on the chart and wading through multiple alerts to get match-ups. Once the match-ups arrive, they have been correct about 75% of the time overall, usually 80-plus percent in high volatility. So now to have one alert from the two different settings is a blessing.
I found that, the attached CFP indicator works with gold and silver (XAUUSD & XAGUSD), however, it doesn't work with SPX500. Can you please modify it so that it works with SPX500 ?
Thank you in advance,
That indicator works with following fixed symbols in calculation : EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF and USDJPY. If it works for XAUUSD and XAGUSD is probably coming from a fact that there is a high correlation between the basket of currencies applied in the calculation and gold and silver.
But I am afraid that finding out which forex symbols could be used in a basket of symbols that would highly correlate with SPX500 is yet another story and that even if it was found for some period, it would not work for another time period (it would probably work OK for a month or two and then the correlation would be broken - simply because SPX500 itself is a kind of a composite index (based on 500 largest companies) which may or may not have some correlation with forex symbols