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Re: Bollinger Band type indicators for MT4

#635
tatlongtruong wrote:
Sat Dec 12, 2020 4:12 pm
mrtools wrote:
Thu Dec 10, 2020 5:37 am


Found the bars were probably repainting, try this one. The projection part will repaint sometimes.
does it repaint?
No, non-repainting. Only the "prediction" section does. But that's with all prediction style indicators. It's just a guide.
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Re: Bollinger Band type indicators for MT4

#637
tatlongtruong wrote:
Sat Dec 12, 2020 5:15 pm
ChuChu Rocket wrote:
Sat Dec 12, 2020 4:20 pm


No, non-repainting. Only the "prediction" section does. But that's with all prediction style indicators. It's just a guide.
thank for your reply, but what is the prediction section?
The "Prediction" section are the lines that extend beyond the price bars/candles. It's an extension of the indicator (dotted lines) just for guidance purposes. Several indicators feature this such as the Future MACD (Prediction) indicator for MT4 etc. and the indicator itself does not repaint, but the Prediction section will repaint and adjust according to the new bars made. I wouldn't call this repainting, just recalculating as there is no trickery on purpose.

The easiest thing to do is just remove the "Prediction" section completely by choosing a blank color for those, so this does not disrupt your trades :)
Prediction-indicator-example.png
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Re: Bollinger Band type indicators for MT4

#638
I remembered seeing an indicator named something like "inverse bands" on a forum. I couldn't find the indicator again as I searched but liked the idea the name was suggesting. So decided to build an indicator on that idea. The usage could be to identify trend and range or breakouts but should be used as a part of strategy not stand alone, I recommend.

PS: For the Candlestick Overlay, please see: Inverse Bollinger Bands Candlestick Overlay for MT4.
Untitled.png
Inverse bollinger bands.ex4
(9.64 KiB) Downloaded 612 times

Re: Bollinger Band type indicators for MT4

#639
Darks wrote:
Mon Dec 14, 2020 1:36 am
very good idea - and very promising signals.
I think - visually - it could be improved if you had different colours for (changing) slope, i. e.
blue for up - signalling uptrend when below price
red for down - signalling downtrend when above price

Re: Bollinger Band type indicators for MT4

#640
Darks wrote:
Mon Dec 14, 2020 1:36 am
I remembered seeing an indicator named something like "inverse bands" on a forum. I couldn't find the indicator again as I searched but liked the idea the name was suggesting. So decided to build an indicator on that idea. The usage could be to identify trend and range or breakouts but should be used as a part of strategy not stand alone, I recommend.
Hello Darks,

Thanks for the interesting indicators you share here, I really appreciate your efforts.
Can you confirm that this "inverse bands" indicator is the same as the Bermaui bands. I have an MT5 indicator (see below) that looks the same it only lacks the squeeze component from your indicator. (Which makes yours even better 😊)

As the original creator Al Bermaui explains the idea behind the indicator is:

1. Calculate Standard Deviation as an oscillator that moves between 0 and 100. I will name it Bermaui Deviation percent (BD %).
2. If "BD %" is near zero then volatility is at its extreme. In addition, if "BD %" is near 100 then volatility is very low.
3. High volatility means a great probability for a trending market, while low volatility means side-way or ranging market.
4. Middle Line is a Simple Moving Average (SMA) because Standard Deviation is calculated depending on SMA.
5. Add "BD %" to a simple moving average with the same number of bars in the calculation to get The Upper Bermaui Band.
6. Subtract "BD %" from a simple moving average with the same number of bars in the calculation to get The Lower Bermaui Bands.

If you can confirm that these indicators are actually the same (or the difference between them) I will also post the MT5 indicator in the correct thread.
2020-12-13_15-29-48.png
Bermaui Bands.mq5
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