Download MetaTrader 5

TTM scalper

To add comments, please log in or register
Mladen Rakic
61787
Mladen Rakic  

Well, here is an indicator that works almost like TTM scalper.

The explanation for the "almost" : I did not "iron out" the occasional differences that happen between "my" version and TTM version. There are multiple reasons for that. Some of them :

  • the logic of this one is quite clear and I do not see any faults in that logic
  • it seems to work good this way
  • and the last (but not the least) I have a gut feeling that those differences are a result of a "real repainting" in the TTM for tradestation version, so this time I decided to listen to my guts
  • as a comparison : upper is the tradestation version lower is the one posted here

___________________________

Some explanation in order to avoid confusion and disappointments :
indicator is looking for swing points, which means it will mark them "after the fact" - 2 bars after the fact to be precise. So if you see a bar "blinking" (forming) you have to wait for the current bar to close

this indicator, apart from that couple of bars back swing point position marking does not repaint. Swing points can not be determined otherwise, so considering the job it does, I think that it has it's usability. It does not work as ZigZag indicators (even if sometimes it resembles to it) So, once when the swing position is marked, it will not be removed with some higher high or lower low - it simply does not work like that

___________________________

PS: kept the name, but I would like to point out once again that this is not a converted TTM scalper indicator. They are 99% of the time same, but that is all ... Used (converted) standard tradestation functions for swing points (which I think was about time to have on metatrader too) so we are not lagging behind tradestation in that point anymore

Mladen Rakic
61787
Mladen Rakic  

...

In order to clarify the "when" and "which" swing point will be marked, made a mod that has one option added : the showSubSwings. If it is set to true, it will show a 'candidates" that can become a marked swing point, If it is set to false, it works as the previous one. . So the rule would be something like this :

  • if you have a main swing point in one color (let say red now) then a subSwing in blue can become a main one if the close of the current bar is less then the low of the bar next to the subSwing bar (and vice versa)

subSwings are shown in a same colors as the main swings but are thinner and are dotted

__________________________

I hope this mod clarifies how does the indicator work

regards

mladen

mike78
86
mike78  

excellent job Mladen!

thanks

Tistou
48
Tistou  

Oh yeah, many thanks Mladen.

tinear10
67
tinear10  

Many Thanks

Thank you sir!

tinear10
67
tinear10  

Looks great with Multi-Dimensional Fractals

Thank you again for this incredible indicator. It looks great with the Multi-Dimensional Fractals indicator.

I am sure you are going to get the usual "please add an alert" requests

Is this possible?

Files:
chriz.danieli
15
chriz.danieli  

TTM Scalper EA

Hi all,

I'm new here and trying to code an EA for this cool indicator

but since I'm not that good in MQL programming I'd like to

ask you experienced programmers some advice.

The main logic would be simple.

SELL the bar after the "Blue swing mark" has formed .

BUY the bar after the "RED swing mark" has formed .

Exit logic would be based on take profit (in pips..) or when

the opposite signal will come or whatever...

The problem (for me) is : how get those signals .

I looked through the indi's code but I haven't yet

understood well the logic... I'm still studying

Anyway, my idea is to use iCustom , below my code:

double upBuffer = iCustom(NULL,0, "TTM_Scalper",0, ??? )

double dnBuffer = iCustom(NULL,0, "TTM_Scalper",1, ??? )

I think in this way I could get upBuffer and dnBuffer values

and then compare them to evaluate the "kind" of signal.

The problem is I don't really know what I have to pass as

last parameter to the iCustom function : the shift index for the arrays.

I'm confused as I saw the array indexes, where are stored values

of the High and Low swing, may vary....

My approach may be wrong, so please forgive me

and if you want: have a say and let me know.

Perhaps I have to build the EA in bundle with the indi (all in one).

Many thanks to all the contributors here.. you're doing great.

Mladen keep up the excellent job with this indi..

Regards,

chriz.

Hercs
2933
Hercs  
mladen:
In order to clarify the "when" and "which" swing point will be marked, made a mod that has one option added : the showSubSwings. If it is set to true, it will show a 'candidates" that can become a marked swing point, If it is set to false, it works as the previous one. . So the rule would be something like this :
  • if you have a main swing point in one color (let say red now) then a subSwing in blue can become a main one if the close of the current bar is less then the low of the bar next to the subSwing bar (and vice versa)

subSwings are shown in a same colors as the main swings but are thinner and are dotted

__________________________

I hope this mod clarifies how does the indicator work

regards

mladen

========================

Thank you again for a fine indicator which I have tested from the day you posted it the first time in the Elite section.

Having said that, I noticed this morning that the indicator marked a candle 7 candles back. (Seven so as to no typing error).

Can you possibly think of any reason why? I know that you mentioned it was not necessarily the final product.

Looking forward to hearing from you.

Mladen Rakic
61787
Mladen Rakic  

...

Valeo,

The reason for making the "with sub swings" version was exactly that : to clarify what does the indicator do and how does it do.

- step one : it marks a candidate (which is a 3 bar swing point)

- step two : if the close price of the current bar goes lower than the low of the bar next to the swing bar for a swing high or if the close goes higher then the high of the bar next to the swing low bar then, and only then it becomes a valid scalper bar.

_________________________

So the idea of this indicator is rather simple and hence, I think, not such a bad one : if a swing bar is not confirmed by the price movement, that swing bar is simply ignored (you will notice quite a lot of sub swings that never became a "scalper" bar. But if it becomes a "scalper bar" (meaning it becomes the "thick one" and a current bar closes) it will not repaint. There is no limitation in numbers, the only limitation (and condition) is the price movement

Btw: the original idea for it is not from the TTM people but from John Carters "Mastering the Trade" book

chriz.danieli
15
chriz.danieli  

Hi mladen,

many thanks for your explanation. Now I think I got it.

mladen:
Valeo,

- step one : it marks a candidate (which is a 3 bar swing point)

- step two : if the close price of the current bar goes lower than the low of the bar next to the swing bar for a swing high or if the close goes higher then the high of the bar next to the swing bar then, and only then it becomes a valid scalper bar.

In this case (see attachment), the scalper bar was marked after the close of the third bar from the "candidate".

From what I understand : if the current bar doesn't close lower than the LOW of the bars next to the "candidate" swing bar (in the case of a Swing High), you will check the next one... and if it doesn't meet the conditions, you will be checking the next one again.

That's the reason why a scalper bar may be marked after 2, 3, 4.. X... bars after. As Valeo told us before...

So, if we are "lucky" a scalper bar will be marked after the close of the

second bars ;-) ( 2 bars after, as you wrote on your first post).

If not, a scalper bar may be marked "i dunno" bars after. It all does

depend on price movement to confirm.

Am I right?

Sorry for bothering you, but I'm trying to code an EA based on this indi.

mladen:
So the idea of this indicator is rather simple and hence, I think, not such a bad one :

I think the same too

Thanks again.

Regars,

chriz

Files:
grafic.gif 18 kb
Hercs
2933
Hercs  
mladen:
Valeo,

The reason for making the "with sub swings" version was exactly that : to clarify what does the indicator do and how does it do.

- step one : it marks a candidate (which is a 3 bar swing point)

- step two : if the close price of the current bar goes lower than the low of the bar next to the swing bar for a swing high or if the close goes higher then the high of the bar next to the swing low bar then, and only then it becomes a valid scalper bar.

_________________________

So the idea of this indicator is rather simple and hence, I think, not such a bad one : if a swing bar is not confirmed by the price movement, that swing bar is simply ignored (you will notice quite a lot of sub swings that never became a "scalper" bar. But if it becomes a "scalper bar" (meaning it becomes the "thick one" and a current bar closes) it will not repaint. There is no limitation in numbers, the only limitation (and condition) is the price movement

Btw: the original idea for it is not from the TTM people but from John Carters "Mastering the Trade" book

Many thanks, Mladen. I run the "Subswings" ON as I want to see precisely what you explained in the beginning and I thank you for that. I do understand it better especially during the period when it "searches out" the anchor and therefore the number is irrelevant. Sorry, but thank you anyway.

To add comments, please log in or register