ChartPolychromatic Indicators for MT4

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Polychromatic Indicators for MT4

The Polychromatic Momentum System and it's technical indicators

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

Polychomatic Momentum Input Parameters

  • Mark = Mark=0 means the position is not marked to the market on the last bar. Mark=1 means it is.
  • ns = The starting bar momentum.
  • ne = The last bar momentum.
  • α = The exponent of the momentum weighting function.
  • bxo = The polychomatic momentum buy level.
  • sxo = The polychomatic momentum sell level.
  • pup = The point amount the Polychomatic momentum curve has to increase from a prior low of the curve made while in a short position to initiate a buy signal (used for SP daily futures).
  • pdn = The point amount the Polychomatic momentum curve has to decrease from a prior high of the curve made while in a long position to initiate a sell signal (used for SP daily futures).
  • Prc = The price. It could also be set to (H+L+C)/3 or a function of O, H, L C.
  • mtmtype = 0 means momentum=prc-prc[I] 1 means momentum=100*(prc-prc[I])/prc[I].
  • XopenBars = Used only for Intraday bars. Don't buy or sell until XopenBars bars have past since the open. 0 = Ignore. Note, this input parameter avoids many opening gap whipsaws.
  • Xtime, = 0, Used only for Intraday bars. Exit position before or at the close. if = 1610 then exit at 4:10pm EST. 0 = ignore .

Product Description

The Polychromatic Momentum system is orientated to short term trading in all bar ranges (1 tic, 1 min, 5min, etc., daily) and with any tradeable price series. This system can also be used on futures, stocks, options, and mutual fund data.
For TradeStation, Multicharts all of the EasyLanguage strategy and indicator codes are directly importable into your choice of TS9 or MC and are fully disclosed. There are no locks of any kind on the EasyLanguage source code. The C++ DLL code is not disclosed. The Input parameters to the strategy and indicator are changeable and optimizable so that the user can develop his own parameter set on his price series and time frame of interest. Although the system results will give parameters for the intraday or daily futures the system was tested on, the user can easily use this system on any tradeable or on any time frame.

For NeuroShell Trader/DayTrader Pro, the Trading Strategy and Indicators are directly imported into NeuroShell via a special setup exe file and are fully disclosed in the Indicator wizard "MA_KeyTrSys" category and in the Trading Strategy Wizard "MA_KeyTrSys" directory. The C++ DLL code is not disclosed. The Input parameters to the strategy and indicator are changeable and optimizable so that the user can develop his own parameter set on his price series and time frame of interest. Although the system results will give parameters for the intraday or daily futures the system was tested on, the user can easily use this system on any tradeable or on any time frame.

As polychromatic indicator are usually more accurate by calculating weighted periods, they can be more useful

so i think this thread will be more of polychromatic indicators,
any one who have polychromatic indicators are welcomed here to post that,

thanks.

starting with Dynamic zones kst (mtf + bars) coded by our artistic coders

These users thanked the author rijay for the post (total 4):
heispark, deepakmadan, 太虚一毫, faulknertrader1


Re: Polychromatic Indicators for MT4

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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
Attachments
These users thanked the author mntiwana for the post (total 2):
heispark, 太虚一毫
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

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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
thanks mntiwana for your reply.

it is very humble of you by telling that i have very little knowlege about it, despite you having vast knowledge and experience.

i am zero in coding and do not know anything of intrinsic coding used for it, i just read what mladen posts and try to understand what he wants to say,

what mladen says, is very useful to put some settings in indicators to be used, though i am not as good as you to use different settings as you do.

you are fabulous in using different settings on simple indicator and your settings puts that indicator on steroids.

hope you will also put up some diamonds from your treasure here with your own settings that will help readers a lot

words of appreciations always falls short of your efforts , for the heavy lifting you are doing on this forum to help others out, devoting your precious time that you are spending for others


thanks again

Re: Polychromatic Indicators for MT4

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thanks to tsar, as i found this indicator with the trading system of tsar, that he has posted in dynamic zone indicator section

as this indicator is polychromatic too, it fits in this thread too.

thanks to our great coders mladen and mrtools for coding this indicator
These users thanked the author rijay for the post (total 7):
Jimmy, ChuChu Rocket, moey_dw, kashyapjdave, Skyold, 太虚一毫, Jedidiah

Re: Polychromatic Indicators for MT4

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POLYCHROMATIC MOMENTUM

ANOTHER GEM OF MLADEN
These users thanked the author rijay for the post (total 3):
Jimmy, 太虚一毫, Jedidiah


Re: Polychromatic Indicators for MT4

10
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
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
These users thanked the author mladen for the post (total 2):
rijay, deepakmadan


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