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Re: MT4 Indicator requests and ideas

dmnik, Mon Jul 31, 2023 9:06 pm

Dear programmers! Be so kind, convert this script to code for MT4. Thank you!

The indicator is named "TMO Scalper" and is designed for lower time frame scalping, specifically 1-5 minute charts. Here's a breakdown of its features:

Time Frames: The indicator allows you to select three different time frames: TimeFrame1, TimeFrame2, and TimeFrame3.

TMO Oscillator Calculation: The indicator calculates a custom version of the "True Momentum Oscillator" (TMO) using the selected time frames. It then smooths the oscillator data with EMA (Exponential Moving Average) and generates signals based on the crossovers of the main and signal lines.

Visualization: The indicator plots the TMO oscillator and its signal lines on the chart. It also prints custom signals as up and down arrows based on specific conditions related to the TMO oscillator's behavior.

Customization: The indicator allows various inputs to be customized, such as signal colors, line colors, and whether to show or hide certain elements like signals, cloud fills, lines, etc.

Time Frame Alignment: The TMO Scalper indicator only prints signals when the higher aggregation (TimeFrame2 and TimeFrame3) is aligned with the current lower aggregation (TimeFrame1).

Time Frames Preffered by Traders:

1. 1m / 5m / 30m - This one is perfect for catching the fastest moves. However, during choppy days the 1min can produce more false signals..
2. 2m / 10m / 30m - Healthy middle, the 2min aggregation nicely smooths out the 1min mess. Short term gauge is turning slowly (10min for a signal to confirm).
3. 3m / 30m / 60m - This TF is awesome for day traders that prefer to take it slow. Obviously, this combination will produce far less signals during the day.
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