IdeaStep Indicators for MT4

1
Step Indicators for MT4

What is a Step indicator?

A Step indicator is the process of visually breaking a sloped line, into "steps". These steps display incremental values in step size. Step size can be specified as pips, and is adjustable within the indicator's options.

How do Steps help in trading?

Technical analysts often use the "slope" of a moving average as a signal, but in ranging markets, an average's slope change will produce a lots of signals. Steps are useful in these conditions as they help to lessen the number of signals by filtering out insignificant changes in an average.

Below is a Step RSI with Floating Levels, the rsi has 6 different rsi option types:

  • Regular RSI
  • Slow RSI(wilders)
  • Rapid RSI,Harris RSI
  • RSX
  • Cuttlers RSI

The Step RSI can be smoothed with a zero lag moving average with a double smooth option, if the smoothing is not desired set the smoothing to less than or equal to 1. The coloring and alerts of the rsi has 4 options:

  • Change color on slope change
  • Change color on Step Rsi cross
  • Change color on outer level cross
  • Change color on middle level cross

The alerts should work depending on what option is chosen.  


Re: Step Indicators for MT4

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v2vboni wrote:
hello mrtools,   i hope this finds you well.

thank you for this indicator... I can now replace my TDI indicator with this one.if you don't mind... is it possible for you to share the buffer number so that I can read the indicator from another indicator?thanks again.
Try using this indicator in order to find out the exact buffer that you are looking for - enter the name of the indicator and the desired number(s) of the buffers you wish to test, and it will be displayed. It will work with any ex4 format indicator the same (just make sure that the indicator name is correct)


Re: Step Indicators for MT4

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v2vboni wrote:  Love it!   thanks a lot!  you are heaven sent in this forex world.   I started to learn a bit of coding by exploring your DailyData indicator middle of last year --but I have the old on... I don't know where to find the one being shown here).   Anyway, Thank you once again.
Do you means this of daily data indicator ?

 
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: Step Indicators for MT4

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alif wrote:Dear Mr.Mladen and Mr.Tools...

Please excuse my poor knowledge, I'd like to know what can be added to these indicators, whether this indicator can also be made as step version?

 Wave trend oscillator 1.2.ex4     

as far as I know this stuff is just one of the many great works by Mr.Mladen, and I really really liked this indicator.

regards.
Here is latest one,upgraded with some more options
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: Step Indicators for MT4

9
alif wrote:Dear Mr.Mladen and Mr.Tools...

Please excuse my poor knowledge, I'd like to know what can be added to these indicators, whether this indicator can also be made as step version?

 Wave trend oscillator 1.2.ex4     

as far as I know this stuff is just one of the many great works by Mr.Mladen, and I really really liked this indicator.

regards.
I agree, WaveTrend truly is a gold mine of an indicator (followed by Chaos VA). I use exclusively and will be posting my setup soon in the Trading Systems thread.

Re: Step Indicators for MT4

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FXSurf wrote: I agree, WaveTrend truly is a gold mine of an indicator (followed by Chaos VA). I use exclusively and will be posting my setup soon in the Trading Systems thread.
hi FXSurf... glad to hear it, hopefully not too much longer for that 


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