Polychromatic Indicators for MT4

Moderators: mntiwana, mrtools


mladen wrote:
Mon Jan 29, 2018 5:58 am
mntiwana wrote:
Sun Jan 28, 2018 4:40 am
I have a very little knowledge about mostly things
Poly chromatic is not a type of indicators but a feature (one from many) within indicators regarding type of coloring that depends on look bar back periods (number of bars back) if applied on value/period 2 it will not show any extra colors except 2 as per my little knowing and is used and can be used in any type of indicator (mostly it was applied on MOM indicators in past by Mladen/Mrtools) - but experts can better explain and guide me,too

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 :)
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.


Guys,try to post properly at their appropriate threads with original names for to avoid misleading/confusing users
here is Mrtools coded indicator with some description
"Dynamic zones kst & bars"
Dynamic zones kst & bars.mq4
(14.72 KiB) Downloaded 427 times
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.


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
Origin : http://meyersanalytics.com/pcmtm.html
I will try to explain once more : it has noting to do with multi coloring. Nothing at all. Please follow that link : Dennis Meyers did quite a good job explaining what polychromatic momentum is


shaileshm wrote:
Mon Jan 29, 2018 4:13 pm
I found the rainbow stochastic finally. Here is how it can be traded for binary options. Using additional support resistance + a minimum amount of PA knowledge virtually eliminates all losses.

Hello shaileshm,

may I ask you for the small white dot indicator in the picture ?


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