Polychromatic Indicators for MT4

The Polychromatic Momentum System and it's technical indicators

Momentum is defined as the difference, or percent change, between the current bar and a bar some lookback period in the past.. The major problem with using momentum based indicators is that the optimum lookback period seems to change over time creating losses with the current chosen lookback period. To avoid the errors due to a single lookback period we create an indicator that takes an weighted average of all significant lookback periods for the tradable. We named this indicator polychromatic because poly means many and chromatic means colors. Thus, polychromatic momentum for this indicator translates into the sum of many momentums.

The momentum magnitudes from different lookback periods are not equalized. That is, the momentum from 17 bars ago will have a range of magnitudes that are much greater than the range of momentum magnitudes of the one bar momentum. For Brownian motion random processes the expected distance a particle can move is proportional to the square root of time. Thus to equalize the effect of differences in magnitude so that the longer bar momentum magnitudes don't swamp the magnitudes of the shorter bar momentums in an average , we will weight the momentum values. The weighting function that we chose here is n α , where α is a system input variable. This weighting will equalize the various momentum magnitudes

Polychomatic Momentum Input Parameters

• Mark = Mark=0 means the position is not marked to the market on the last bar. Mark=1 means it is.
• ns = The starting bar momentum.
• ne = The last bar momentum.
• α = The exponent of the momentum weighting function.
• bxo = The polychomatic momentum buy level.
• sxo = The polychomatic momentum sell level.
• pup = The point amount the Polychomatic momentum curve has to increase from a prior low of the curve made while in a short position to initiate a buy signal (used for SP daily futures).
• pdn = The point amount the Polychomatic momentum curve has to decrease from a prior high of the curve made while in a long position to initiate a sell signal (used for SP daily futures).
• Prc = The price. It could also be set to (H+L+C)/3 or a function of O, H, L C.
• mtmtype = 0 means momentum=prc-prc[I] 1 means momentum=100*(prc-prc[I])/prc[I].
• XopenBars = Used only for Intraday bars. Don't buy or sell until XopenBars bars have past since the open. 0 = Ignore. Note, this input parameter avoids many opening gap whipsaws.
• Xtime, = 0, Used only for Intraday bars. Exit position before or at the close. if = 1610 then exit at 4:10pm EST. 0 = ignore .

Product Description

The Polychromatic Momentum system is orientated to short term trading in all bar ranges (1 tic, 1 min, 5min, etc., daily) and with any tradeable price series. This system can also be used on futures, stocks, options, and mutual fund data.
For TradeStation, Multicharts all of the EasyLanguage strategy and indicator codes are directly importable into your choice of TS9 or MC and are fully disclosed. There are no locks of any kind on the EasyLanguage source code. The C++ DLL code is not disclosed. The Input parameters to the strategy and indicator are changeable and optimizable so that the user can develop his own parameter set on his price series and time frame of interest. Although the system results will give parameters for the intraday or daily futures the system was tested on, the user can easily use this system on any tradeable or on any time frame.

For NeuroShell Trader/DayTrader Pro, the Trading Strategy and Indicators are directly imported into NeuroShell via a special setup exe file and are fully disclosed in the Indicator wizard "MA_KeyTrSys" category and in the Trading Strategy Wizard "MA_KeyTrSys" directory. The C++ DLL code is not disclosed. The Input parameters to the strategy and indicator are changeable and optimizable so that the user can develop his own parameter set on his price series and time frame of interest. Although the system results will give parameters for the intraday or daily futures the system was tested on, the user can easily use this system on any tradeable or on any time frame.

As polychromatic indicator are usually more accurate by calculating weighted periods, they can be more useful

so i think this thread will be more of polychromatic indicators,
any one who have polychromatic indicators are welcomed here to post that,

thanks.

starting with Dynamic zones kst (mtf + bars) coded by our artistic coders