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Re: MT4 Indicator requests and ideas

17082 by TransparentTrader
kvak, mrtools, or any of the wonderful coders on this website: Would it be possible to convert the indicator below into MT4 format?

https://www.tradingview.com/script/ONXv ... nal-Index/

Screenshot 2022-11-27 015301.jpg

The code is below:

Code: Select all

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © peacefulToucan67678

//@version=5
indicator("MADX")
length = input.int(100)
mahigh = ta.ema(high, length)
malow = ta.ema(low, length)
maclose = ta.ema(close, length)
bear = mahigh/maclose
bull = maclose/malow
plot(bear, color=#f44336, linewidth=2, title="MADX-")
plot(bull, color=#006064, linewidth=2, title="MADX+")

I'm thinking this indicator could be expanded upon in numerous ways:

  • Being able to add all averages to the indicator so we aren't limited to just the EMA
  • Ability to edit which kind of moving average you use for "mahigh", "malow", and "maclose" for some interesting combinations
  • Modifying the length of "mahigh", "malow", and "maclose" separately so you aren't stuck with one length for all 3 parameters
  • Adding the ability to see the indicator in MTF/AHTF
  • Arrows for an entry that is visually easier to see
  • Coloring the candles to reflect when the indicator is in bullish/bearish mode
  • Alerts so we don't have to sit at our computers all day for a viable trade signal
  • A button for easier analysis and less CPU consumption

The code looks fairly easy to translate into MT4 language as it's only a few lines at most. Not sure if it is more appropriate to put it in the ADX thread or the Moving Averages thread.

I had the chance to do some very light backtesting on SPX500 1-minute charts using a length setting of 50 and it looks very promising. Losses are small enough that one winner can wipe a couple of them out.

Appreciate you guys and all that you do!
These users thanked the author TransparentTrader for the post (total 2):
kvak, Jedidiah

Re: MT4 Indicator requests and ideas

17084 by mrtools
TransparentTrader wrote: Sun Nov 27, 2022 6:08 pm kvak, mrtools, or any of the wonderful coders on this website: Would it be possible to convert the indicator below into MT4 format?

https://www.tradingview.com/script/ONXv ... nal-Index/


Image



The code is below:

Code: Select all

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © peacefulToucan67678

//@version=5
indicator("MADX")
length = input.int(100)
mahigh = ta.ema(high, length)
malow = ta.ema(low, length)
maclose = ta.ema(close, length)
bear = mahigh/maclose
bull = maclose/malow
plot(bear, color=#f44336, linewidth=2, title="MADX-")
plot(bull, color=#006064, linewidth=2, title="MADX+")

I'm thinking this indicator could be expanded upon in numerous ways:

  • Being able to add all averages to the indicator so we aren't limited to just the EMA
  • Ability to edit which kind of moving average you use for "mahigh", "malow", and "maclose" for some interesting combinations
  • Modifying the length of "mahigh", "malow", and "maclose" separately so you aren't stuck with one length for all 3 parameters
  • Adding the ability to see the indicator in MTF/AHTF
  • Arrows for an entry that is visually easier to see
  • Coloring the candles to reflect when the indicator is in bullish/bearish mode
  • Alerts so we don't have to sit at our computers all day for a viable trade signal
  • A button for easier analysis and less CPU consumption

The code looks fairly easy to translate into MT4 language as it's only a few lines at most. Not sure if it is more appropriate to put it in the ADX thread or the Moving Averages thread.

I had the chance to do some very light backtesting on SPX500 1-minute charts using a length setting of 50 and it looks very promising. Losses are small enough that one winner can wipe a couple of them out.

Appreciate you guys and all that you do!
Thanks for the code, looks doable, kind of past my bedtime now, but if no one gets to it before tomorrow, will try to do a version.
These users thanked the author mrtools for the post (total 3):
Jimmy, Jedidiah, Chickenspicy

Re: MT4 Indicator requests and ideas

17086 by kvak
TransparentTrader wrote: Sun Nov 27, 2022 6:08 pm kvak, mrtools, or any of the wonderful coders on this website: Would it be possible to convert the indicator below into MT4 format?



The code looks fairly easy to translate into MT4 language as it's only a few lines at most. Not sure if it is more appropriate to put it in the ADX thread or the Moving Averages thread.

I had the chance to do some very light backtesting on SPX500 1-minute charts using a length setting of 50 and it looks very promising. Losses are small enough that one winner can wipe a couple of them out.

Appreciate you guys and all that you do!
Hello. You may test my version here..madx..Thanks for idea...
These users thanked the author kvak for the post:
TransparentTrader

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