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Automated-Trading
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Automated-Trading 2014.11.04 11:03 

Trend Testing:

This indicator will show trend, based on EMA200 of the higher timeframe.

Trend Testing

Author: NeuroJob

speedytina
5
speedytina 2015.01.02 19:07  

Hi NeuroJob;

A couple of questions...

1. Sometimes the indicator will show both red and green bars. How does one interpret such situations? Do I read bars from left to right or vice versa? In other words is the leftmost bar the more recent one or is the rightmost bar the more recent. I tried to figure this out for myself but have come across situations where the indicator color on my daily chart does not agree with the actual 200ema moving average that I place on the weekly chart. This indi is just what I've looking for. I'm just a little unclear as to how to fully interpret it.

2. Does each bar of the indicator represent a specific number of actual candlesticks?

3. Lets assume one would rather use 100ema instead of 200ema. Do I just use MetaEditor to change all 200ema references to 100ema instead? Or is there more to it than that?

Thanks in advance for any help.

speedytina

speedytina
5
speedytina 2015.01.04 01:37  
speedytina:

Hi NeuroJob;

A couple of questions...

1. Sometimes the indicator will show both red and green bars. How does one interpret such situations? Do I read bars from left to right or vice versa? In other words is the leftmost bar the more recent one or is the rightmost bar the more recent. I tried to figure this out for myself but have come across situations where the indicator color on my daily chart does not agree with the actual 200ema moving average that I place on the weekly chart. This indi is just what I've looking for. I'm just a little unclear as to how to fully interpret it.

2. Does each bar of the indicator represent a specific number of actual candlesticks?

3. Lets assume one would rather use 100ema instead of 200ema. Do I just use MetaEditor to change all 200ema references to 100ema instead? Or is there more to it than that?

Thanks in advance for any help.

speedytina

Never mind. problem solved.

I trade from daily charts only. Something just wasn't making sense with the indi readings on my daily charts. It turns out that the indi code was written to show higher time frame 200ema readings only on H4 charts and lower. So on the daily charts it defaults to the current chart 200ema instead of showing the weekly 200ema. So I was not seeing, what I thought I was seeing on my daily or weekly charts. Other traders using daily charts should take note.

So for my own purposes, I have now edited the code to also show the higher time frame 200ema on daily and weekly charts. Its to be now giving me correct readings. I assume I can also play around with different ema values if I want to.

  
      case PERIOD_M1 :  nextTF=PERIOD_M5;     break;
      case PERIOD_M5 :  nextTF=PERIOD_M15;   break;
      case PERIOD_M15: nextTF=PERIOD_M30;   break;
      case PERIOD_M30: nextTF=PERIOD_H1;     break;
      case PERIOD_H1 :  nextTF=PERIOD_H4;     break;
      case PERIOD_H4 :  nextTF=PERIOD_D1;     break;
      case PERIOD_D1 :  nextTF=PERIOD_W1;    break;
      case PERIOD_W1 : nextTF=PERIOD_MN1;   break;
      default: nextTF=PERIOD_CURRENT;

    

Also note that the original code shows: 

[ case PERIOD_H12 :  nextTF=PERIOD_H4;     break; ]

which I assume should read 

[ case PERIOD_H1 :  nextTF=PERIOD_H4;     break; ]


It seems the leftmost indi bars give the most current reading, which seems somehow counter intuitive to me. Maybe its just me but it would make more sense for the rightmost bars to be the most current in keeping with chart flow.

Otherwise it is now in sync on my daily and weekly charts.

speedytina

     

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