Re: Polychromatic Indicators for MT4

11
mladen wrote: Mon Jan 29, 2018 5:58 am

mntiwana

No. The coloring has nothing to do with the name of the polychromatic momentum indicator. The fact that I made it using gradient colors is just coincidence - it is not the cause of the name of the indicator
Dearest Mladen
Thanks for explaining and teaching as always to all of us
all i try to understand from what was in poly and chromatic description
it would be so kind of you when you put more light on,what is polychromatic as an function (kind of math calculation) if not belongs to colors (gradient) - just am curious to learn exact :)
regards
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: Polychromatic Indicators for MT4

16
Guys
To remind of where is the "polychromatic" coming
Dennis Meyers :

Momentum is defined as the difference, or percent change, between the current bar and a bar some lookback period in the past.. The major problem with using momentum based indicators is that the optimum lookback period seems to change over time creating losses with the current chosen lookback period. To avoid the errors due to a single lookback period we create an indicator that takes an weighted average of all significant lookback periods for the tradable. We named this indicator polychromatic because poly means many and chromatic means colors. Thus, polychromatic momentum for this indicator translates into the sum of many momentums.

The momentum magnitudes from different lookback periods are not equalized. That is, the momentum from 17 bars ago will have a range of magnitudes that are much greater than the range of momentum magnitudes of the one bar momentum. For Brownian motion random processes the expected distance a particle can move is proportional to the square root of time. Thus to equalize the effect of differences in magnitude so that the longer bar momentum magnitudes don't swamp the magnitudes of the shorter bar momentums in an average , we will weight the momentum values. The weighting function that we chose here is n α , where α is a system input variable. This weighting will equalize the various momentum magnitudes
I will try to explain once more : it has noting to do with multi coloring. Nothing at all. Dennis Meyers did quite a good job explaining what polychromatic momentum is
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