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TTM scalper - page 2

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Mladen Rakic
70983
Mladen Rakic  

chriz,

Yes, you got it right

regards

mladen

chriz:
Hi mladen,

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

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.

I think the same too

Thanks again.

Regars,

chriz
muyeenfx
17
muyeenfx  

Long term!

Malden,

I like this indicator. Can this be made into a long term indicator?

Flytox
256
Flytox  
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

Hi Mladen,

is it possible to add an alert to the ttm scalper with subwings specifying which open chart is concerned (symbol and tf). Thank you.

Flytox
256
Flytox  
Flytox:
Hi Mladen, is it possible to add an alert to the ttm scalper with subwings specifying which open chart is concerned (symbol and tf). Thank you.

Please Mister Mladen i really need an alert on this one.

Thanks

Mladen Rakic
70983
Mladen Rakic  

Flytox

Try this on out _______________________

A couple of word how it works : if alerts are on it will always alert on a new or a changed swing bar (it looks what is the time of the last swing bar formed and if it did not alert you of it, it alerts) It is done in this manner because of the changes in swing bars (when they even can be revoked as explained in thread already)

It works in the same manner for sub-swings if sub-swings are shown on chart. If sub-swings are not allowed, it will not alert on sub-swings

Also, alert message contains symbol + time frame of the chart + some additional info about the cause of the alert

regards

Mladen

Flytox:
Hi Mladen, is it possible to add an alert to the ttm scalper with subwings specifying which open chart is concerned (symbol and tf). Thank you.
Flytox
256
Flytox  

thanks to be so responsive .

human18
38
human18  
muyeenfx:
Malden, I like this indicator. Can this be made into a long term indicator?

hi Malden

is it possible to make it work for long term. acutely it is perfect indicator but the problem it is not give a chance to take profit . it change faster than i want, so signal is very good but the most is very near to entry price which drop my account to negative.

i want to use it for swing trading .

but the most important with this indicator it can verify the peak and bottom.

i hope you can do it

best regards

Mladen Rakic
70983
Mladen Rakic  

...

Not sure that I understand the long term in this case, but will give a try ...

The basic "problem" with TTM scalper is that it is looking for swing points. Swing points are throughs (peaks or valeys) with certain number of consecutive highs and lows from left and right side (depending on what kind of a swing is seeked for - upper or lower swing) Right now, in order to make the indicator less sensitive to changes in the past, it is looking for swings with 2 bars in the same direction from both sides (so it looks for a peak or a valley in a 5 bar segment of which 2 bars are in the "future" 2 bars are in the past and the middle one is the swing one)

I think that if we extend those total of 5 bars we are going to have worse results since there will be a longer period in which the swing can change (depending on market changes) and that it will, with that change, become dangerous to use it (even now one has to have some confirming indicator for the general direction and to trade only the swings that conform with trend direction)

Also, making it multi time frame would have the same effect

________________________________

I think that this indicator belongs to the "estimation" category indicators (as almost all recalculating indicators do). In my mind (one might agree or not with it) this is an aid valuable when we (human) already decided on trend and then it helps us with entries. If we are looking at it as a signal for both directions it is a dangerous one.

human18:
hi Malden

is it possible to make it work for long term. acutely it is perfect indicator but the problem it is not give a chance to take profit . it change faster than i want, so signal is very good but the most is very near to entry price which drop my account to negative.

i want to use it for swing trading .

but the most important with this indicator it can verify the peak and bottom.

i hope you can do it

best regards
human18
38
human18  
mladen:
Not sure that I understand the long term in this case, but will give a try ...

The basic "problem" with TTM scalper is that it is looking for swing points. Swing points are throughs (peaks or valeys) with certain number of consecutive highs and lows from left and right side (depending on what kind of a swing is seeked for - upper or lower swing) Right now, in order to make the indicator less sensitive to changes in the past, it is looking for swings with 2 bars in the same direction from both sides (so it looks for a peak or a valley in a 5 bar segment of which 2 bars are in the "future" 2 bars are in the past and the middle one is the swing one)

I think that if we extend those total of 5 bars we are going to have worse results since there will be a longer period in which the swing can change (depending on market changes) and that it will, with that change, become dangerous to use it (even now one has to have some confirming indicator for the general direction and to trade only the swings that conform with trend direction)

Also, making it multi time frame would have the same effect

________________________________

I think that this indicator belongs to the "estimation" category indicators (as almost all recalculating indicators do). In my mind (one might agree or not with it) this is an aid valuable when we (human) already decided on trend and then it helps us with entries. If we are looking at it as a signal for both directions it is a dangerous one.

thank you very much mladen , the total idea is clear. i am really appreciate your help

i applied the indicator using renko system. i am really surprised , the result is very good till now. i will try to use it in next couple of weeks and i will give you my opinion

mladen do you have a good system that you recommend it it to use . i want to get some result in my investment in forex market.

thank you again for your help

human18
38
human18  

hi mladen

i want an expert adviser depending in this indicator if you don't mind

i want to test the indicator in real market movement , as you know it is very difficult if i stay all my day in from on my PC

please help me on that

regards

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