Re: Trend Indicators for MT4
Posted: Thu Sep 15, 2022 1:33 am
Just reposting this think it somehow may have gotten removed.
You are right my friend. I don't care about the signal arrows. Nadaraya Watson nature is to repaint. It has an amazing ability to show price extremes for scalping on M5 or M15 charts. Here is a picture of what I designed myself with using Nadaraya Watson estimator and MT4 own Envelope Indicator. It's very Close to Tradingview one. As you can see in the chart once the price exited the channel it reverses to the mid line.
Neat, I would like to use it, would you contribute and share it with us?tank.turner2 wrote: Sun Sep 18, 2022 10:27 pm You are right my friend. I don't care about the signal arrows. Nadaraya Watson nature is to repaint. It has an amazing ability to show price extremes for scalping on M5 or M15 charts. Here is a picture of what I designed myself with using Nadaraya Watson estimator and MT4 own Envelope Indicator. It's very Close to Tradingview one. As you can see in the chart once the price exited the channel it reverses to the mid line.
Nadaraya Watson estimator (using built-in MT4 indicators)ChuChu Rocket wrote: Sun Sep 18, 2022 10:42 pm Neat, I would like to use it, would you contribute and share it with us?
Seems to work during ranges, but not so well in trends:
Also for strategy you can watch this YouTube video. I've been testing it, on US30, M15 for past two weeks and results are fantastic. M5 is a bit noisy. for Forex pairs adjust the deviation according to the pairs volatility.tank.turner2 wrote: Sun Sep 18, 2022 11:02 pm Nadaraya Watson estimator (using built-in MT4 indicators)
Absolutely :
- Open a clean chart without any indicator
- Download and apply Nadaraya Watson Estimator to your chart (Attached)
- Drag and Drop Envelope from the list of indicators on the Navigator menu
- Set the envelope as follow :
- Period 8
- MA Method Simple
- Apply to : Previous Indicator's Data
- Deviation : 0.40%
Well as you know all markets are in range about 70% to 80% of the time. For Trending market you can buy or sell on the pull back to the channel top or bottom, in the direction of the trend. DO NOT TRADE with this strategy during news time. Common sense.
Brilliant! Really appreciate the walk through you've posted and how this also uses a standard built-in indicator (in a custom & creative way). Thanks a lot Tank - hope you stick around mate.tank.turner2 wrote: Sun Sep 18, 2022 11:02 pm Absolutely :
- Open a clean chart without any indicator
- Download and apply Nadaraya Watson Estimator to your chart (Attached)
- Drag and Drop Envelope from the list of indicators on the Navigator menu
- Set the envelope as follow :
- Period 8
- MA Method Simple
- Apply to : Previous Indicator's Data
- Deviation : 0.40%