GraniteChief wrote: Thu Jan 30, 2025 9:39 pm Hi traders / coders,

Does anyone have an MT5 version of EOTF with change of colour on slope change? Price crossing is easy to spot but slope change is more difficult. If someone has a version with both options then that would be amazing!

Kind regards,
GC

Hello, have this version, you can choose color change on slope or on price cross.

mrtools wrote: Fri Jan 31, 2025 1:33 am Hello, have this version, you can choose color change on slope or on price cross.

Thank you @mrtools for being so responsive and helpful.
Kind regards,
GC

mrtools wrote: Tue Oct 17, 2023 2:39 am Added alerts and arrows.

Thanks mrtools for the indicator, please can you add a yellow bar to give a sign of change in the next colors. for example before an arrow comes up, a bar should comes first in the bar. with this we know that bar would change colour and new arrow coming out.thanks

Tayejohn wrote: Sat Feb 01, 2025 3:53 am Thanks mrtools for the indicator, please can you add a yellow bar to give a sign of change in the next colors. for example before an arrow comes up, a bar should comes first in the bar. with this we know that bar would change colour and new arrow coming out.thanks

Hello, far as I'm aware there is it can't be done in a non-repainting way, because the bar will always be changing before it closes.

Optimized Trend Tracker

I found this code on TradingView and converted it to MT5.
Only basic MAs, no arrows for signals but buffer for direction.

"Optimized Trend Tracker OTT is an indicator that provides traders to find an existing trend or in another words to ser which side of the current trend we are on.

We are under the effect of the uptrend in cases where the prices are above OTT ,
under the influence of a downward trend, when prices are below OTT
it is possible to say that we are.

The first parameter in the OTT indicator set by the two parameters is the period/length.

OTT will be much sensitive to trend movements if it is smaller. And vice versa, will be less sensitive when it is longer.

As the period increases it will become less sensitive to little trends and price actions.

In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.

The OTT percent parameter in OTT is an optimization coefficient. Just like in the period
small values ​​are better at capturing short term fluctuations, while large values
will be more suitable for long-term trends."

AlgoAlex811 wrote: Sat Feb 01, 2025 10:08 pm Optimized Trend Tracker

Have you coded the MT4 version too?

wojtek wrote: Sun Feb 02, 2025 7:47 am Have you coded the MT4 version too?

Nope, sorry.
I don't use MT4 anymore.

wojtek wrote: Sun Feb 02, 2025 7:47 am Have you coded the MT4 version too?

Maybe this one.

Just some food for thought...

OTTs with different percents

Follow Line Indicator

From author Kivanc Ozbilgic (the same of previous OTT) an indicator based on trend following.

From his words:
"The main idea behind the calculation is volatility:
-Indicator Line increases as price goes above Bollinger Bands but with 1 standard deviation.
-Likewise when price moves below the lower Bollinger Band with 1 Standard deviation, Follow -Line decreases down.
-As you can imagine, indicator stays as a flat line when price moves between the bands.

There are two critical settings about the indicator:

1- Bollinger Bands Deviation is set to 1 as default but if you want to have early signals you have to decrease that amount. Also you'd better increase that to have flat values on sideways market conditions for not getting chopped by the early but false signals.

2- ATR Filter is activated in default settings and the indicator follows the trend with a distance from Highs and Lows considering ATR (default length 5) values. If you turn off the ATR filter, the indicator line only takes into account the Highs and the Lows. Indicator will get more agile but the risk of choppy signals can be taken that time. I personally advise you to increase the Bollinger Band Deviation from 1 to between 1.5-2 to stabilize the fake signals when ATR filter is turned off.

Signals can be shown on the graph:

BUY: when Follow Line changes direction from red to blue.(which means Price is above Bollinger Upper Band with 1 standard deviation)
SELL: when Follow Line changes direction from blue to red. (which means Price moves below Bollinger Lower Band with 1 standard deviation)"