Re: No Nonsense Forex - Indicators

141
Centaur wrote: Fri Feb 10, 2023 7:23 pm Strength Oscillator

Not knowing when a market will trend is the greatest problem for analyst.

Based on the idea that the trend component is stronger when price is father from fair value, and noise (sideways movement) is greater when price is near value, an oscillator can be created to show the strength of the trend component based on this concept.

As the trend increases, the average change in prices becomes larger relative to the high minus the low range for the day.

During an unusual period, when the market gaps open, it would be possible for the difference in prices to become larger than the daily range.

In a sideways market both the change in the prices and daily range will get smaller, but the net price change over a period should be close to zero.

Zero line cross indicator perfect as a C1 or C2 or perhaps and exit indicator.

The oscillator can be smoothed by increasing the signal period, however this introduces some minimal lag in the signal.

An alternative way would be to smooth the output of the indicator with a least squares moving average of about 8 periods.
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Just as an add on this is a momentum indicator and could also work as your volume indicator in your algorithm.
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Re: No Nonsense Forex - Indicators

143
Vulkan Profit

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Re: No Nonsense Forex - Indicators

144
Centaur wrote: Sat Feb 11, 2023 7:00 am Vulkan Profit


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Image
Some additional comments on the Vulkan Profit: This is the basis of the Sidus Method Trading System with two linear weighted moving averages and two exponential moving averages.
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Re: No Nonsense Forex - Indicators

146
melvintwl wrote: Sun Feb 12, 2023 10:14 pm Do we have BSP (Buy Sell Pressure) in MT5?
https://www.tradingview.com/script/jISV ... -pressure/

Same principle as wilder's directional indicators and the vortex but with a different twist.

Seems very promising, will code this...
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Re: No Nonsense Forex - Indicators

148
Centaur wrote: Mon Feb 13, 2023 1:42 am https://www.tradingview.com/script/jISV ... -pressure/

Same principle as wilder's directional indicators and the vortex but with a different twist.

Seems very promising, will code this...

Just a heads up that there's a more widely used version of this indicator on TradingView, which forms the basis for this new thread made by Jimmy.

Are the calculations exactly the same for both versions on TradingView? Just want to make sure the math checks out.
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Re: No Nonsense Forex - Indicators

149
TransparentTrader wrote: Mon Feb 13, 2023 4:57 am Just a heads up that there's a more widely used version of this indicator on TradingView, which forms the basis for this new thread made by Jimmy.

Are the calculations exactly the same for both versions on TradingView? Just want to make sure the math checks out.
The math is slightly different on all three:

version by Tradernawab:
Buy Pressure = EMA(close[0] - low[1], n)
Sell Pressure = EMA(high[1] - close[0], n)

version by fract:
Buy Pressure = EMA(close[0] - min(low[0], close[1]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0], n)

Jimmy's Thread:
Buy Pressure = EMA(close[0] - min(low[0], close[1]) - (min(open[0], close[0]) - low[0]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0] - (high[0] - max(open[0], close[0])), n)

where n is the lookback period, [0] represent current value, and [1] previous value
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Re: No Nonsense Forex - Indicators

150
Centaur wrote: Mon Feb 13, 2023 6:26 am The math is slightly different on all three:

version by Tradernawab:
Buy Pressure = EMA(close[0] - low[1], n)
Sell Pressure = EMA(high[1] - close[0], n)

version by fract:
Buy Pressure = EMA(close[0] - min(low[0], close[1]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0], n)

Jimmy's Thread:
Buy Pressure = EMA(close[0] - min(low[0], close[1]) - (min(open[0], close[0]) - low[0]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0] - (high[0] - max(open[0], close[0])), n)

where n is the lookback period, [0] represent current value, and [1] previous value
I have a tendency to rather agree with the calcs by Tradernawab, any comments?
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