Discussing the article: "MQL5 Wizard Techniques you should know (Part 64): Using Patterns of DeMarker and Envelope Channels with the White-Noise Kernel"

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Check out the new article: MQL5 Wizard Techniques you should know (Part 64): Using Patterns of DeMarker and Envelope Channels with the White-Noise Kernel.

The DeMarker Oscillator and the Envelopes' indicator are momentum and support/ resistance tools that can be paired when developing an Expert Advisor. We continue from our last article that introduced these pair of indicators by adding machine learning to the mix. We are using a recurrent neural network that uses the white-noise kernel to process vectorized signals from these two indicators. This is done in a custom signal class file that works with the MQL5 wizard to assemble an Expert Advisor.

Python has a host of technical analysis libraries that can easily be imported and use to implement a variety of indicators. The current problem is, though, that they are not all standard and some of them are missing some indicators. For instance, for this article the pandas technical analysis library is missing the DeMarker oscillator while this is available in the ‘ta’ or technical analysis module. On the other hand, the Envelopes, though present in pandas technical analysis library, is absent in the ‘ta’ library in its raw form. This is because ‘ta’ offers related indicators of Bollinger Bands and the Donchian Channel instead.

And the funny thing is, these days implementing your own indicator "from scratch" is about as much hustle (if not less) as installing one of these libraries to use these standard functions. And so, we implement our own functions for DeMarker and Envelopes, which, on paper, should allow our Python to run slightly faster given the fewer module references.

Author: Stephen Njuki