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ChartRe: Step Indicators for MT4

#502
Step average (ATR Based) for MT4 & MT5

From Mladen Rakic:

Basics:

We are all using averages for market assessment. One of the ways averages are used is using the change of the slope of the average as a signal. But that way tends to produce a lot of signals in ranging market. One of the way to lessen that number of signals is to filter out insignificant changes in average.

This version:

It is using percent of ATR (Average True Range) as a filter. It is done in order to fix one of the weak points of using fixed (pips) step size : different time frames tend to have different results for fixed step size (ie: higher time frames become almost without steps and lower time frames still have those steps for same setting). Percent of ATR usage fixes that and makes it a sort of adaptive. The rest is the same: if the average does not changes for more than the required step, the value of the average remains the same. Otherwise it is changed in order to reflect the nearest value based on the required steps. Averages supported are the following:

  • simple moving average (SMA)
  • exponential moving average (EMA)
  • smoothed moving average (SMMA)
  • linear weighted moving average (LWMA)

Usage:

You can use the color changes as signals

ps) the mt4 version is using Mladen's Atr function instead of the built in Atr and a few more averages.
cb__82.png
! Step average (atr based).ex4
(55.1 KiB) Downloaded 348 times
Step average (atr based).mq5
(10.51 KiB) Downloaded 128 times

ChartRe: Step Indicators for MT4

#503
Step average (STD Based) for MT4 & MT5

From Mladen Rakic:

Basics:

We are all using averages for market assessment. One of the ways averages are used is using the change of the slope of the average as a signal. But that way tends to produce a lot of signals in ranging market. One of the way to lessen that number of signals is to filter out insignificant changes in average.

This version:

It is using percent of STD (Standard Deviations) as a filter. It is done in order to fix one of the weak points of using fixed (pips) step size : different time frames tend to have different results for fixed step size (ie: higher time frames become almost without steps and lower time frames still have those steps for same setting). Percent of STD usage fixes that and makes it a sort of adaptive. The rest is the same : if the average does not changes for more than the required step, the value of the average remains the same. Otherwise it is changed in order to reflect the nearest value based on the required steps. Averages supported are the following:

  • simple moving average (SMA)
  • exponential moving average (EMA)
  • smoothed moving average (SMMA)
  • linear weighted moving average (LWMA)

Usage:

You can use the color changes as signals.

ps) the mt4 version has all the added prices and a few more averages.
cb__83.png
! Step average (std based).ex4
(55.85 KiB) Downloaded 294 times
Step average (std based).mq5
(10.6 KiB) Downloaded 112 times

Re: Step Indicators for MT4

#504
@ mrtools

Respected Sir,

Request you to Please Add : Arrows & Colour Bars to :
1) ! Step average (atr based).ex4 &
2) ! Step average (std based).ex4


Thanks for your Time, Efforts, Support.

IdeaRe: Step Indicators for MT4

#505
thomdel wrote:
Tue May 17, 2022 12:12 am
@ mrtools

Respected Sir,

Request you to Please Add : Arrows & Colour Bars to :
1) ! Step average (atr based).ex4 &
2) ! Step average (std based).ex4


Thanks for your Time, Efforts, Support.
Cool idea thomdel, I like it. These two sets of indicators have great potential 👌
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Re: Step Indicators for MT4

#506
thomdel wrote:
Tue May 17, 2022 12:12 am
@ mrtools

Respected Sir,

Request you to Please Add : Arrows & Colour Bars to :
1) ! Step average (atr based).ex4 &
2) ! Step average (std based).ex4


Thanks for your Time, Efforts, Support.
If possible also add buffers for the buy sell arrow... :hug:

Re: Step Indicators for MT4

#509
jng640 wrote:
Tue May 17, 2022 12:52 am
If possible also add buffers for the buy sell arrow... :hug:
The last 2 I posted the arrows are using buffers (up arrow = buffer# 7 and down arrow = buffer # 8)


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