CandlesticksRe: Step Indicators for MT4

722
mrtools wrote: Sun May 15, 2022 3:07 am Step average (ATR Based) for MT4 & MT5

From Mladen Rakic:

Basics:

We are all using averages for market assessment. One of the ways averages are used is using the change of the slope of the average as a signal. But that way tends to produce a lot of signals in ranging market. One of the way to lessen that number of signals is to filter out insignificant changes in average.

This version:

It is using percent of ATR (Average True Range) as a filter. It is done in order to fix one of the weak points of using fixed (pips) step size : different time frames tend to have different results for fixed step size (ie: higher time frames become almost without steps and lower time frames still have those steps for same setting). Percent of ATR usage fixes that and makes it a sort of adaptive. The rest is the same: if the average does not changes for more than the required step, the value of the average remains the same. Otherwise it is changed in order to reflect the nearest value based on the required steps. Averages supported are the following:

  • simple moving average (SMA)
  • exponential moving average (EMA)
  • smoothed moving average (SMMA)
  • linear weighted moving average (LWMA)

Usage:

You can use the color changes as signals

ps) the mt4 version is using Mladen's Atr function instead of the built in Atr and a few more averages.

Dear mrtools,

I am testing this indicator on the renko charts on xauusd, and I have observed that it repaints or recalculates the entire chart after every few bricks formed in either direction !!!
I was surprised to see that it did the same even after restarting the mt4 terminal

Either the signals bar's colour change would have moved or disappeared altogether
I have attached pictures of the same indi with arrows to demonstrate the issue

unfortunately its the same with other instruments of different renko brick-sizes too

Also, while the renko-bricks are forming during live market, the indicator line which is already printed keep changing colour to sell/buy many a times.

SIr, could this simple and amazing indicator be fixed ?

Thanking you
Best Regards
SS

Re: Step Indicators for MT4

723
SS33 wrote: Tue Jul 09, 2024 8:51 pm Dear mrtools,

I am testing this indicator on the renko charts on xauusd, and I have observed that it repaints or recalculates the entire chart after every few bricks formed in either direction !!!
I was surprised to see that it did the same even after restarting the mt4 terminal

Either the signals bar's colour change would have moved or disappeared altogether
I have attached pictures of the same indi with arrows to demonstrate the issue

unfortunately its the same with other instruments of different renko brick-sizes too

Also, while the renko-bricks are forming during live market, the indicator line which is already printed keep changing colour to sell/buy many a times.

SIr, could this simple and amazing indicator be fixed ?

Thanking you
Best Regards
SS
Okay can't find that code in my files will make a new version for testing. Please keep in mind I don't know of any renko charts that don't repaint and that could very well be the issue.

ps) Just dawned on me have this version, I know it doesn't repaint and it's the same just has more stuff added.

Re: Step Indicators for MT4

724
mrtools wrote: Tue Jul 09, 2024 11:48 pm Okay can't find that code in my files will make a new version for testing. Please keep in mind I don't know of any renko charts that don't repaint and that could very well be the issue.

ps) Just dawned on me have this version, I know it doesn't repaint and it's the same just has more stuff added.
Dear mrtools

Thank you for the quick response

I have attached the video to understand the issue better with these indies on live renko chart (20 pip brick - xausud)

both share the same settings on the chart, however the later one (with more options) seems to draw/signal a different result to the simpler one!

Earlier during the day, I had it tested on Indian indices (the simpler one: step ma (atr based)) , it did a complete reverse signal on previous renko candles during live session while all the other indices were stable and never did reprint/recalculate/repaint) on the live chart while new bricks were forming

Best Regards,
SS

Re: Step Indicators for MT4

725
SS33 wrote: Wed Jul 10, 2024 12:59 am Dear mrtools

Thank you for the quick response

I have attached the video to understand the issue with these indies on live renko chart (20 pip brick - xausud)

both share the same settings on the chart, however the later one (with more options) seems to draw/signal a different result to the simpler one!

Best Regards,
SS
The renko is what is repainting. Nothing I can do about that.


Re: Step Indicators for MT4

726
mrtools wrote: Wed Jul 10, 2024 1:05 am The renko is what is repainting. Nothing I can do about that.
Dear Sirs,

could it be because of the usage of atr calculations ..? just wondering...

also because the other indicators are not recalculating, I keep wondering what could be the issue ...
only the step ma indicators are recalculating and the other indies are not ....
step ma indi I think is a good one and I really want to test it and use it as part of strategy... but this recalc thing is worrying me!

just for your reference, attached a video
It can be seen that the other indicators are stable, step indis are recalc'ing on incoming ticks...


Best Regards,
SS

Re: Step Indicators for MT4

727
SS33 wrote: Wed Jul 10, 2024 1:21 am Dear Sirs,

could it be because of the usage of atr calculations ..? just wondering...

also because the other indicators are not recalculating, I keep wondering what could be the issue ...
only the step ma indicators are recalculating and the other indies are not ....
step ma indi I think is a good one and I really want to test it and use it as part of strategy... but this recalc thing is worrying me!

just for your reference, attached a video
It can be seen that the other indicators are stable, step indis are recalc'ing on incoming ticks...


Best Regards,
SS
Again, renko recalculates it's bars every time the terminal has a restart or hiccup, without an anchored start time it will repaint. Anyway, noticed some slight differences in the atr/std calculation as you said and corrected it and for sure these versions will not repaint if you see repainting it will more than likely be from the renko you are using causing it. Have heard of only one non-painting renko but have never verified it to be so.


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