SelfMAde MT4 Indicator for Auto Trend Lines.
Indictor calculate the waves (impulses) and then pivot points.
This indicator don't use any ZigZag algoritm.
It ease for use and, I think, is very usefull.
Thanks! It looks interesting. I checked it in tester. The indicator puts the pivot points post factum; the dots appear several bars after the extremum took place, of course it's logical, so how to use it?
Not post factum, but after completed factum.
I'll describe information about it later. (time managment)
But if you know Russian,
you can get information from ProfiForex Traders Forum - Ïîêàçàòü ñîîáùåíèå îòäåëüíî - Ñêëàäíîé ìåòð – íîâàÿ ôèãóðà òåõíè÷åñêîãî àíàëèç
Self-made algorithm calculation of impulses (waves) of the high and low periods is put in a indicator’s base. Any ZIGZAG
Algorithm even in work, therefore a code yet I don’t spread. But beta-version of the indicator can be tried. It fully working
Better to use this indicator as the advanced tool of the technical analysis. There are similar tools in Omega and other programs However, so it seems to me, that in a basis of their construction lay ZigZag.
High_period=70 Value of the high period. It is desirable from 50. It will define global impulses.
Low_period=13 Value of the low period. It is desirable not less than 10. Smaller values can create mistakes. It is caused by that, calculation of low impulses is made on the current timeframe, without inquiries of younger timeframe data
Trigger_Sens=0.003 I s responsible for sensitivity of calculations, just for the low period. Than above themes is less sensitive, than below themes there are more mistakes.
StayLinesAfterDelete=false If will be TRUE all trend lines will stay on the price chart, after indicator cleaning
DrawHighPivotSemafor=True If True, draws semaphores of the high period, false - does not draw
DrawLowPivotSemafor=True The same to low period
DrawHighTrendLine=True If True automatically draws trend lines of the high period, false - does not draw
HighTrendLineResColor=Red; Color of upper resistance trend lines of the high period
HighTrendLineSupColor=Maroon; Color of upper resistance trend lines of the high period
HighTrendLineStyle=2 Trend Lines Style
HighTrendLineWidth=0 Trend Lines Width. It adjustable only if HighTrendLineStyle=0
Additional useful adjustment:
HighTrendLineExt=1.5 Factor of prolongation (extension) of the trend lines in the future, i.e. the trend line doesn’t stp on the second point, and it is prolonged forward (in the future). If 1 - any prolongation, the line begins in the first point and comes to an end in the second. If 1.5 - the line will be extended in 1.5 times, etc
HighTrendLineInMemory=10 To not draw trend lines on the price chart for all history , leaves so much how many you want. If ZERO draws all trend lines of the history.
Adjustments of the low period trend lines precisely same as well as the high.
Plans for the future:
1. To improve algorithm of calculation of waves (use of the low timeframe data )
2. Additional constructions of the “fans” " Lihvidov’s developing meter" , patterns (Wolf Waves, Gartli and so on)
3. Elliott waves calculation
Good luck everybody
I think this indicator will be very useful to experienced traders
Why only experienced traders?
This indicator can help beginners with definition of the big number of graphic figures.
However, thanks for a response.
For those who knows Russian.
On this forum two new tactics of trade come into a question with this indicator
Èíäèêàòîð Wave_AutoTrendLines (äëÿ ÌÒ4) - Ñòðàíèöà 2 - ProfiForex Traders Forum
Dont forget that we have a Thanks button
I submit the final version of the indicator.
1. Improved algorithm for calculating wave
2. All the errors corrected, which were seen by users
What is new:
1. Text & sound wave Alarms are added for High and Low periods. The High period Alarm is on by default.
2. Added junior waves calculation period. Rates are calculated on the data from lowest period. The new purple semaphores are drawing.
3. The Trigger_sens adjusted for all carrency. There is no need to change it. Best value 2-3
4. You can adjust the position of semaphores
5. Large capacity of the various settings
New useful addition
Indicator calculates the forecast trend line
This is a new pink line that appears immediately after the new red semaphore
It is the forecast trend line
It may change its position, because it following the current situation. But it very accurately reflects the prices behavior.
Very useful for trade decisions
This is the latest version of the indicator and contains many usefuls.
This is a comprehensive tool for organizing successful trade
This is only a demo version.
The commercial version is much cheaper compared to similar systems for Omega.
Because there is no such instruments for MT4
Also for commercial version:
Instruction describing the trading tactics on the basis of this indicator is attached . As well as the continued assistance and tips
If you have any questions please contact
Good luck All