Discussing the article: "MQL5 Wizard Techniques you should know (Part 83): Using Patterns of Stochastic Oscillator and the FrAMA — Behavioral Archetypes"
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Check out the new article: MQL5 Wizard Techniques you should know (Part 83): Using Patterns of Stochastic Oscillator and the FrAMA — Behavioral Archetypes.
The Stochastic Oscillator and the Fractal Adaptive Moving Average are another indicator pairing that could be used for their ability to compliment each other within an MQL5 Expert Advisor. We look at the Stochastic for its ability to pinpoint momentum shifts, while the FrAMA is used to provide confirmation of the prevailing trends. In exploring this indicator pairing, as always, we use the MQL5 wizard to build and test out their potential.
For this article, we are once again doing a deep plunge into a created custom Signal Class that brings together the Stochastic Oscillator and the Fractal Adaptive Moving Average. This infusion of two well known indicators is meant to give us a powerful hybrid system whose indicator-end-goal is to provide a ‘pipelined’ binary representation of these indicators’ logic. This primarily serves as a digital noise filter for market patterns. As usual, we are going to consider 10 indicator patterns that cater to different sorts of markets, with the market types under consideration being trending/mean-reverting, correlated/decoupled, and low-volatility/high-volatility. Each of these ten patterns that we’ll define in the custom signal class stands for a particular setup of either FrAMA slope or Stochastic positioning or price-pattern.
Our custom signal class design, therefore, does align well with the MQL5 Wizard’s modular nature and the attached code at the end of the article is meant to be placed in the ‘MQL5\Include\Expert\Signal\Custom’ folder, or as indicated in the header of the attached ‘.mq5’ file. Guidance on doing this, as well as assembling an Expert Advisor with the wizard, can be found here for new readers. Each of the custom signal class’s ten patterns is ‘self-contained’, in that they all get to use the same compute framework, yet users can toggle them on or off, assign different weights to each, or optimize each’s conditions separately in Strategy Tester. Our entire Expert Advisor setup, is therefore not a black-box but as transparent as possible. By being highly customizable, it is in essence adaptive, and better geared to tackle the different market types, at a hyper-tuning level, of trending/mean-reverting markets or correlated/decoupled markets or those with low/high volatility.
Author: Stephen Njuki