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Re: MT4 Indicator requests and ideas

4223 by mrtools
uncle wong wrote: Wed Sep 19, 2018 8:42 am Dear Mrtools

Is it possible for you to convert this indicator to mql4?
Seems like i converted it.

Another great indicator from Mladen and explained by him::::

Range Expansion Index (REI) definition :

Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength. It was developed by Thomas DeMark and described in his book https://www.amazon.com/Science-Technica ... 0471035483.

The indicator values change from -100 up to +100. REI is an enhanced oscillator, as it stays neutral during a flat and shows trends only when considerable top or bottom have been reached.

This version :

This version is made according to Mark Jurik's idea : according to him, REI can be made as rsx(high) + rsx(low) - and the result should be much smoother. So, this version is doing exactly that.

Also, this version is adding a bit modified confidence bands in order to make the trend changes spotting easier (some more information on confidence bands you can find here : https://en.wikipedia.org/wiki/Confidenc ... ion_bands One parameter needs an explanation - the confidence bands shift :

It is the number of bars that the bands are shifted in order to provide usable crosses of REI value and confidence bands. Without it, the results would be illogical, and that is the reason why the indicator limits the minimal shift to +1. The greater the shift, the more the bands are shifted but some experimenting is recommended (mild shifting is producing quite good results)

You have an option to chose between three color changing modes :

color change when outer levels are crossed
color change when middle level (a sort of a "zero line") is crossed
color change on slope - that is the default mode
Usage :

In this version use color changes change as potential trend start and end signals

PS: For a working, updated version please see: Range Expansion Index with RSX option.
These users thanked the author mrtools for the post (total 13):
FBI, Jimmy, moey_dw, Dimitri, hannele, appsoluxions, AlexLoco, talaate, uncle wong, SilverBB, kashyapjdave, myrx, Jedidiah

Re: MT4 Indicator requests and ideas

4225 by TEAMTRADER
mrtools wrote: Tue Sep 18, 2018 6:43 am

Didn't have the HMA you were using as iCustom, so built one in and added the bands.
I've tried every setting on this indicator but it will not duplicate what the Hma bands achieve.
Is it possible to add the Hma setting to your bands indicator?
I need it because I am using it as an on screen signal with on chart stochs and the Hma setting is the best.
Thanks
TEAMTRADER

Re: MT4 Indicator requests and ideas

4226 by AlexLoco
Hello mrtools, mladen... I would like to see if closing my positions on ADR levels fits my strategy. All the ADR indicators that i have, they project the levels only the current day... I would like to ask you if there is any ADR indicator like channel, so i can visually backtest it on the charts...
Is there such a thing? if not, can be done?
If yes, can you make an option to project also inside the channel a "sub channel" showing an X percentage of the ADR?

Re: MT4 Indicator requests and ideas

4230 by TEAMTRADER
mrtools wrote: Thu Sep 20, 2018 7:10 am

No I meant the "HMA" it's calling in iCustom.
The indicator you posted HMA_Bands (attached) does not have the HMA setting.
It has 8 settings for the moving average (bands method) but it does not include HMA.
I have tried to duplicate the HMA with various settings on the 8 moving averages but cannot get it to match.
The HMA Bands indicator I originally posted does reproduce the HMA setting whereas the HMA_Bands indicator (attached) does not.
Thanks
TEAMTRADER

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