CodeNo Nonsense Forex - Indicators

#1
For any good NNFX indicators, please use this Feed. Even if you don't code, any ideas or backtest results on indicators are welcome. Whereas far as possible, I will recode all indicators into MT5.

As a noob , I see I've left a remark on someone else's topic LOL... Here is a repost of my first contribution.

Kaufman's Adaptive Moving Average (KAMA)

Developed by Perry Kaufman, Kaufman's Adaptive Moving Average (KAMA) is a moving average designed to account for market noise or volatility. KAMA will closely follow price when the price swings are relatively small and the noise is low. KAMA will adjust when the price swings widen and follow price from a greater distance. This trend-following indicator can be used to identify the overall trend, time turning points, and filter price movements.

I've Included ATR bands, for No Nonsense Forex Traders. ATR is based on Wilders original calculations, meaning the ATR smoothing is via a rolling moving average and not some made-up garbage.

Indicator can be used as a BASELINE for NNFX traders.

I've also included an entire set of price derivatives to choose from.

For use in an EA, buffer numbers are as follows: 0 - KAMA_LINE, 1 - UPPER_ATR_LINE, 2 - LOWER_ATR_LINE.
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KAMA.mq5
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Re: No Nonsense Forex - Indicators

#2
Market Phase Indicator

My little adaptation of Welles Wilder's ADX, Version 2.

Version 1 used ADX - ADX[1] effectively rate of change to determine the positive or negative slope of the ADX line. Positive being trending, and negative or zero being ranging. The rate of change introduced a 1 bar lag, creating late entries for trend trading strategies.

Version 2 uses a trigger line of the ADX, trigger_line = ADX[1]. This regains the previously lost 1 bar. The indicator reacts quickly to short-term trend fluctuations, so not perfect in any sense.

Any ideas of filters I can introduce to limit the number of entries will be great.

For the NNFX traders, I reckon this will make a nice secondary confirmation indicator, C2.
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Market Phase.mq5
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Re: No Nonsense Forex - Indicators

#3
Volume Price Confirmation Indicator (VPCI)

Developed by Buff Dormeier. The VPCI reveals the proportional imbalances between price trends and volume-adjusted price trends. An uptrend with increasing volume is a market characterized by greed supported by the fuel needed to grow. An uptrend without volume is complacent and reveals greed deprived of the fuel needed to sustain itself. Investors without the influx of other investors ( volume ) will eventually lose interest and the uptrend should eventually breakdown.

A falling price trend reveals a market driven by fear. A falling price trend without volume reveals apathy, fear without increasing energy. Unlike greed, fear is self-sustaining, and may endure for long time periods without increasing fuel or energy. Adding energy to fear can be likened to adding fuel to a fire and is generally bearish until the VPCI reverses. In such cases, weak-minded investor's, overcome by fear, are becoming irrationally fearful until the selling climax reaches a state of maximum homogeneity. At this point, ownership held by weak investor’s has been purged, producing a type of heat death capitulation. These occurrences may be visualized by the VPCI falling below the lower standard deviation of a Bollinger Band of the VPCI, and then rising above the lower band, and forming a 'V' bottom.

For NNFX traders I think this falls under VOLUME or EXIT, take your pick.
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Volume Price Confirmation Indicator (VPCI).mq5
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Re: No Nonsense Forex - Indicators

#4
Hello, may I suggest using some of the Top 10 indicators:
-Itrend Averages
- Waddah Attar Explosion Averages with ATR DeadZone
- Trend Direction & Force index
- Jurik "Volty" Volatility Bands
-Adaptive Jurik Filter

I think these 5 indicators are good for the nononsense strategy.

Anyway, thanks for the contribution.

Re: No Nonsense Forex - Indicators

#5
William Blau's Ergodic True Strength Index (Ergodic TSI)

The Ergodic TSI is a double smoothed true strength index with a signal line. It is intended to act like a stochastic indicator without the 'compression' often seen with stochastics at extremes. As a result, it helps to register long trends.

The only change made to the indicator is the signal line, Blau said to use another EMA of the Ergodic TSI to generate a signal line, but this entry is late so I've changed it to the Ergodic TSI one period back.

For NNFX traders this is a PRIMARY CONFIRMATION indicator.
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Blau Ergodic TSI.mq5
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Re: No Nonsense Forex - Indicators

#6
@mhipolito thanks for the suggestions, will be posting some of them soon, but my concern with Jurik is the calculations behind it, it's probably the best kept secret of technical analysis. Each person posting something along the lines of Jurik has a different understanding of the filters utilized. My personal opinion: its just a 2 pole Gaussian filter over marketed by the Jurik research group in search of a quick buck or two. So I prefer not having anything to do with the word Jurik, instead I'll be applying Gaussian Filters.
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Re: No Nonsense Forex - Indicators

#7
Besides the whole purpose of introducing new technical analysis techniques is for it to be scrutinized by the public domain, this introduces learning and improvements on techniques. The fact that they are not willing to do so makes me think "Scam".
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Re: No Nonsense Forex - Indicators

#8
Modified Explosion Indicator

This indicator is based on Waddah Attar's original indicator. I only incorporated a dynamic dead zone line based on the ATR times a factor of 3.7. I've also included a smoothing of the trend histogram using linear regression to a period of 8 (period is not adjustable, due to the increase of lag if this value is increased), to prevent sudden moves above and or below the explosion line / dead zone line.

For those not familiar with Waddah Attar's explosion indicator: the trend histogram is literally a histogram of a MACD where values below zero is made positive. A MACD is the difference between a fast exponential moving average and a slow exponential moving average. The explosion line is the difference between the upper Bollinger band and lower Bollinger band, and finally the dead zone line represent volatility in the form of an ATR calculation set to a period of 100 (not adjustable).

Possible future work: Applying standard deviation directly to price is fundamentally incorrect (foundation of a Bollinger Bands calculation). The reason is that price do not have a Gaussian probability density function (Gaussian / Normal PDF). Hence one need to transform price to a near Gaussian PDF before the application of a standard deviation. Work done by John F. Ehlers (Fisher Transform).

NNFX traders can use this indicator as a VOLUME indicator or EXIT indicator.
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Modified Explosion.mq5
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