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Re: Various (Specialist) indicators for MT4

#381
traderokey wrote:
Sun May 09, 2021 8:06 pm
The indicator displays correctly for currencies but is inverted for indices and some commodities. The inversion can be cool when combined with other indicators in the same sub-window.
ok, thank you! I understand. Maybe one can add an "invert" function. Have you got an example how such combination would look like to see the benefit? I don't trade currencies.


Re: Various (Specialist) indicators for MT4

#382
RplusT wrote:
Sun May 09, 2021 8:49 pm
ok, thank you! I understand. Maybe one can add an "invert" function. Have you got an example how such combination would look like to see the benefit? I don't trade currencies.

This is an example with Gold. It can be combined with any oscillator. It doesn't add much additional information. Just the visual effect and maybe confirmation.
In this example, it has been combined with coppock curve averages in the first sub-window and Awesome arrows alerts mtf 1.02 in the second sub_window.
The indicators don't have fixed maximum and minimum, so requires a lot of messing around to fix the scales which will need adjusting with every sharp market move.


Gltich combo.PNG

Re: Various (Specialist) indicators for MT4

#383
traderokey wrote:
Sun May 09, 2021 9:52 pm
This is an example with Gold. It can be combined with any oscillator. It doesn't add much additional information. Just the visual effect and maybe confirmation.
In this example, it has been combined with coppock curve averages in the first sub-window and Awesome arrows alerts mtf 1.02 in the second sub_window.
They indicators don't have fixed maximum and minimum, so requires a lot of messing around to fix the scales which will need adjusting with every sharp market move.



Gltich combo.PNG
Ok, I see. Thank you for your feedback and the effort to make a visual example.

Re: Various (Specialist) indicators for MT4

#384
mrtools wrote:
Sun May 09, 2021 12:00 pm
Added all the averages.
traderokey wrote:
Sun May 09, 2021 8:12 pm
This is perfect! Thanks Mrtools.
The Glitch Index is an interesting one, expecially now that it's upgraded with all "Averages", it can now take advantage of the ADXVMA (thanks Mrtools) :)

As explained by Mladen, and outlined in the February 2004, Active Trader magazine (attached below), it was inspired by the more successful stock systems that have appeared in the Trading System Lab.

Please have a read of the PDF attached, in particular Page 28.
Glitch_index_example_chart.jpg
active-trader-magazine-2004-february-issue-glitch-index-article-pdf.pdf
(3.84 MiB) Downloaded 185 times
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Re: Various (Specialist) indicators for MT4

#385
GSF wrote:
Tue May 18, 2021 8:50 pm
PPOdifferent.png

When I put on chart, default settings except the display option I get something different. Looks like the Histo 0-1 is doing a zero line cross signal. Which is a nice option, but not one of the options (it should be). Curious as why because your screenshot shows the correct (slope change) color change. If you could look into this, and perhaps add the zero line cross as signal option. This would make the PPO more flexible. Thank you for all your hard work in this forum, it is truly appreciated....

GSF

From Post #3156
Did a new version, seems okay. You can choose either color on slope,signal cross or zero cross.,

PS: For PPO Laguerre versions, please see here: PPO Laguerre Reversal indicator for MT4.
Percentage Price Oscillator.ex4
(36.18 KiB) Downloaded 296 times
EURUSDM15.png


IndicatorRe: Various (Specialist) indicators for MT4

#388
Sutatong wrote:
Thu May 20, 2021 1:35 am
Is this basically a MACD?
Good question :thumbup:

PPO Vs MACD

PPO oftentimes will look (almost) exactly the same as MACD, but the PPO is better for higher timeframe charts like the Daily, Weekly and Monthly as the larger charts have bigger variances in price when viewing years of price history.

So the larger the timeframe and differences in price movement on the chart you are viewing, the more useful the PPO will be vs. using MACD.

Both tools are Momentum indicators but:

  • MACD reports the absolute difference between the EMA's
  • PPO reports the difference as a percentage

PPO also works better than the MACD for gauging trends on highly volatile currency pairs due to the large movements in price.

Hope this clears things up :)

PS: Here's a small document which also notes the differences between MACD vs PPO vs DPO indicators (3rd page).
ppo-vs-macd-vs-dpo-indicators.pdf
(130.98 KiB) Downloaded 68 times
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How to: Identify major Support & Resistance using the line chart


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