I am trying to find the equivalent of the Ninja Trader and Trade Station momentum indicator ttMExR for MT4 used in this system on Renko Bars.
Has anyone ever seen this before?
Here is more info on the indicator and a better link.
Although ttMEx has user inputs that can
be changed, I am sending this out as a separate indicator with the renko
I think it will be easier to simply
apply this indicator to the renko charts, as well as being less likely
that the different parameters get used on the time or tick charts.
ttMExR Parameter Defaults:
I made the ttMExR parameters faster,
because I could see that it gave better synch with the renko bricks and
the ttEnvelopeR indicator.
This is likely a function of getting
fewer of the renko bricks that we would tick bars or time bars. I made
the ttM indicator parameters, which are used as a dot shift condition,
The ttEnvelopeR indicator is new for the
renko charts and will be used instead of ttDC. This indicator is a
price envelope that shows a moving average line and dots for the outer
envelope that are green or red, depending on 2 conditions: (1) whether
price is above or below the moving average (2) whether momentum is
position or negative.
Note: The momentum condition uses ttM, but with different parameters than we normally use that will be mentioned in a moment.
TS ttEnvelopeR Parameter Defaults
Adding a picture