Relative Strength Rank

444
Here is an interesting indicator which was translated & coded for MT4 by Mladen called the Relative Strength Rank.

The RS Rank indicator is actually a ranking tool which is used to compare a group of Stocks, ETFs or Futures Contracts to determine which specific instrument is performing best. The indicator creates a score based upon the symbols historical price movement.

As explained by Mladen in our saved notes:
Used default parameters but added options to change all the parameters used in calculation from the first link you posted, and embellished it a bit compared to the code you posted.

Also added something that does not exist in the original - price (price used in calculation of ROC) smoothing. Here is an example of an 2 period price smoothed RSR from the above example - it seems that the price smoothing (mild price smoothing) adds to readability of the indicator and adds only minimal or no lag at all.
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance

LSMA Trend Channel

445
LSMA Least Square Moving Average (Channelled)

This is the Least Square Moving Average channelled made by Mladen for MT4 and is an excellent tool for trading trends and timing swing trading entries.

As explained by Mladen:
Well, first version of LSMA trend was posted long time ago and it was made only to show what some other indicator was about. In the mean time it was renamed (surprise, surprise ... :) ) and posted as something different while nothing at all was changed in it.

The main problem (in my opinion) with the old version was the "oversensitivity" since all it is looking for is a slope of linear regression value (LSMA == linear regression value). This version is a possible way to avoid that "oversensitivity" and ads a kind of a filter on it that might help in avoiding "insignificant" changes.
These users thanked the author Jimmy for the post:
Jedidiah
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance


Trend Analysis Index

446
Trend Analysis Index

This is the Trend Analysis Index which was coded by Mladen for MT4 & is a solid-performing, non-repainting indicator which is suitable for novice traders who are trying to learn how to trade trends and time entries. Even though it was coded back in 2011, a handful of the Forex-TSD traders like fxnewbie began using this over the traditional MACD.


As explained by Mladen:
Trend Analysis Index

This one was initially developed a long time ago (by Adam White), but my search for it on Metatrader did not give any results, so here it is for Metatrader 4 too ...

PS: Default Ma Length in the original is 20 but I decided to use 10 instead. Also, the original uses simple moving average for calculation (MaMode 0) but you might experiment with different modes - might give interesting results (like the example bellow : EMA mode (MaMode 1) and TaiLength 10). So, now we have it for metatrader too. At a first glance it looks useful. Maybe it helps someone in trading
These users thanked the author Jimmy for the post:
Jedidiah
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance

Re: LSMA Trend Channel

447
Jimmy wrote:Sat Jun 29, 2019 11:33 pm This is the Least Square Moving Average channelled made by Mladen for MT4 and is an excellent tool for trading trends and timing swing trading entries.

As explained by Mladen:
Well, first version of LSMA trend was posted long time ago and it was made only to show what some other indicator was about. In the mean time it was renamed (surprise, surprise ... :) ) and posted as something different while nothing at all was changed in it.

The main problem (in my opinion) with the old version was the "oversensitivity" since all it is looking for is a slope of linear regression value (LSMA == linear regression value). This version is a possible way to avoid that "oversensitivity" and ads a kind of a filter on it that might help in avoiding "insignificant" changes.
Jimmy, I am loving this. Is there a way to add alerts and maybe arrows to this please?? It is showing great promise for catching reversals quicker than other tools.

Re: Trend Indicators for MT4 Moderators

448
rain wrote:Thu Jul 18, 2019 1:47 pm Jimmy, I am loving this. Is there a way to add alerts and maybe arrows to this please?? It is showing great promise for catching reversals quicker than other tools.
Rain! That is an excellent idea man and thanks for letting us know that you're liking this indicator.

I'm really hoping Mrtools still has a MQL4 version of the file so some upgrades can be applied :)
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance


Who is online

Users browsing this forum: bbookgenius, Bing [Bot], Facebook [Crawler], Jimmy, kvak, Majestic-12 [Bot], whiteadrian23 and 86 guests