Re: Various (Specialist) indicators for MT4

681
Hi Mr Tools and Coders receptively,

I found this indicator multi currency indicator that reveals the strength of each currency based on percentage change. All currencies start at zero sum from the beginning of the timeframe you select and as the momentum increases/decreases, you can see where the high probably trade setups are. The coder name is Rafei and here’s his formula and explanation:

I have created a new indicator which shows the strength of each (individual) currency based on change percentage. Change percentage of each currency at any time (in a day) according to the open price of the day is calculated according to the following formula:

(the formula is edited)
for ( j = each pair of currency )
currency = currency + ( iClose( Pair[j] , Period() , i ) - iOpen( Pair[j] , PERIOD_D1 , dayCount ) ) / iOpen( Pair[j] , PERIOD_D1 , dayCount ) * 100;

I wanted to know if we had anything similar (or that can be easily created) that has alerts on crosses and a unique ID. Because when using multiple instances, the lines and data become obscured (for the StrengthDaily201 version).
Thanks in advance for any advance and response!




Re: Various (Specialist) indicators for MT4

686
mrtools wrote: Fri Feb 25, 2022 7:19 am Yes, think there are some T3 smoothed versions floating around here, what did you have in mind as far as smoothing?
If you look at the blue line; sometimes (especially when close to MA) its raggedness gives (unnecessary) false signals.
One way to solve this is to use a longer-period-MA. But that means later signals.
An ability to smooth the line (input) could still give early entries while minimizing the number of false signals.
Just a suggestion, of course:

Re: Various (Specialist) indicators for MT4

687
josi wrote: Fri Feb 25, 2022 5:30 pm If you look at the blue line; sometimes (especially when close to MA) its raggedness gives (unnecessary) false signals.
One way to solve this is to use a longer-period-MA. But that means later signals.
An ability to smooth the line (input) could still give early entries while minimizing the number of false signals.
Just a suggestion, of course:
Image
I have this version, it's atr bands but the middle line of the atr band is the ma.

Re: Various (Specialist) indicators for MT4

688
mrtools wrote: Thu Mar 05, 2020 1:10 pm This is the relative volatility index now which has added an option to use an adaptive ema deviation in it's calculation along with a deviation using standard error,standard deviation with and without sample correction. Also optimized the code.
Image
Is there a backwards version of this?
Cheers,

Opita


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