Re: MT4 Indicator requests and ideas

11872
Would someone be able to code an indicator (X) that, when applied/dragged (like the MT4 Moving average indicator) to another indicator (Y) window, shows the difference between the current value of Y-indicator and the value of Y for the previous candle? And represent it as a histogram.
For example:
  • when the Y-indicator reaches it's peak, this X-indicator would start turning from positive to negative (cross the zero line).
  • also, when Y-indicator slows down (but keeps going up), this X-indicator would start turning downwards... and viceversa.
I guess this would be a simple way of measuring the evolution of the Y-indicator slope, and allow to enter or exit trades earlier when used on some smoothed indicators that can give late signals.

If such indicator -or similar that can measure the slope of another indicator- has already been shared here before, would someone mind pointing me in the right direction?
Blai5 Vigia Indicator + Introduction: here

Re: MT4 Indicator requests and ideas

11874
DrNefario wrote: Sun Jan 10, 2021 2:16 am Would someone be able to code an indicator (X) that, when applied/dragged to another indicator (Y) window, shows the difference between the current value of Y-indicator and the value of Y for the previous candle? And represent it as a histogram.
For example:
  • when the Y-indicator reaches it's peak, this X-indicator would start turning from positive to negative (cross the zero line).
  • also, when Y-indicator slows down (but keeps going up), this X-indicator would start turning downwards... and viceversa.
I guess this would be a simple way of measuring the evolution of the Y-indicator slope, and allow to enter or exit trades earlier when used on some smoothed indicators that can give late signals.

If such indicator -or similar that can measure the slope of another indicator- has already been shared here before, would someone mind pointing me in the right direction?
If I'm understanding correctly don't think you would need 2 indicators.

Re: MT4 Indicator requests and ideas

11875
mrtools wrote: Sun Jan 10, 2021 3:35 am

If I'm understanding correctly don't think you would need 2 indicators.
Correct, what I named Indicator "Y" in the example, could be a Stochastic with slow settings, or a MACD or whatever other indicator you would like to use.
What I'm looking for is the indicator I named "X" for loss of a better name.

Just like you can drag the MT4 Moving Average or Bollinger Bands indicator to another indicators window and apply it to "first indicators data" or "previous indicators data"... I'd like to know if someone could code an indicator whose value is the diference of the current and the previous candle value of whatever indicator it is applied to (maybe also include the option of applying it to "first indicator data" or "previous indicator data", so you could measure the slope of the moving average of an indicator, for example).

Essentially, it would measure the changes in slope/inclination of whatever indicator it is applied to.

Sorry if I made it sound too unclear, English isn't my first language.
Blai5 Vigia Indicator + Introduction: here




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