Re: MT4 Indicator requests and ideas

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A few years ago, I was examining a TMA indicator that included standard deviation bands. I noticed how the bands responded asymmetrically to price movements. Expanding in the direction of price movement and contracting on the trailing side.

The thought was, what happens if I change the calculation so that it inverts the behavior, and then combine the two versions together.

Here is an example using the "TMA+CG Fast TT" indicator. The modified version has line 287 changed from: if(diff>=0) to if(diff<=0).

Below is an image showing the result of loading the stock version with the modified version on top of it. Note how the bands cross as price energy changes direction. Period set to 11 and S.D. to 2.5. Repaint set to True.

I note that there are conditions where price can change too slowly and it fails to respond usefully. Generally I've been running it on 5 minute chart and suggest using periods on the shorter side. I've found a period of 21 useful on the 5min chart. Though have not fully examined or tested. I do see that there are issues with the way the code is implemented. Where it does not behave favorably.

I have not fully examined its behavior and wonder if it is at all useful. Can it be used as an adjunct or an improvement to an indicator, or designed as a stand alone? Can the concept be adapted in other forms to be useful?

Thoughts? Questions?
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Krunal Gajjar