Dear respected Sirs,
This is my first post here , so i will start with a
big big thank you to everyone involved in this wonderfull forum. I have learned much here.
i am starting my trading journey in a few month after learning for so many years, and after studying the work of many traders, from the mega top to the average Joe. My conclusion about their work (probably everybody knows that at this point) is that the difference between the mega top and the good traders is....
the exit strategy !
A 10 years old child can enter the market following an indicator, but managing a trade when its developing is an art , im sure you will all agree on this.
Hence i have reviewed many types of stops and exit strategies.
What boggles my mind , is that i cant find anywhere an implementation of the standard errors bands for mt4.
If i missed something , please i beg you to pardon me , but i just couldnt find it. Kindly point me towards it.
Standard error bands will be my stops because they fit my strategy. And seriously , they are awesome, but it seems like nobody knows about them.
They were created and made public in the Article/Author: "Standard Error Bands" Jon Anderson, Stocks&Commodities Magazine, Traders Tips, 09/1996
This is from multicharts forum :
The construction of standard error bands is similar to that of Bollinger bands. The difference: instead of measuring the variance or degree of volatility around the average price using the standard deviation, standard error bands require the use of the standard error of the estimate around a 21-period linear regression line. The middle band is calculated as the ending value of a 21-period linear regression line and adding two standard errors to the ending value of the regression line to form the upper standard error band. To form the lower standard error band, subtract two standard errors from the end value of the linear regression line.
Upper Band = SmoothedRegressionLine (EndPointOfRegression of Close Price,SDeg) + 2 x SmoothedStdError
Lower Band = SmoothedRegressionLine (EndPointOfRegression of Close Price,SDeg) - 2 x SmoothedStdError
This is from a Phemex blog :
The Standard Error equation is based on a square of the linear regression line and the price average. The oscillator and the bands have different formulas. Here is how to calculate the Standard Error:
Standard Error Formula :
The Standard Error bands are based on a smoothened regression line and four standard errors – two for each regression band. The upper regression line is based on a 21-period regression curve. The line uses smoothening with a Simple Moving Average (SMA) combined with two standard errors.
The lower regression line uses linear regression minus two standard errors. The Standard Error Bands formula is the following:
The Standard Error Bands formula :
And this if from ATAS technical description :
This is extracted from a very interesting article about stops on a hightick website. Fellow trader Mark Kingsburg made this picture :
There is a good article here explaining why SE is superior to moving average in many ways :
https://www.brookstradingcourse.com/gue ... ror-bands/
And im wondering what would a mix of GChannel and this could create
Anyway.
My request would be that a coder would first implement the SE bands into an indicator for mt4 and make a trailing stop EA.
If you would do this , you would be my god , and hell , right now im poor AF , but ill tip you good in 5 years , i wont forget you thats for sure.
If i broke the rules with the attachments , please i beg you to pardon me , im genuinely just trying to point out to relevant information. Please dont ban me.
And if nobody is interested in doing this , then its ok , ill just have to move on to a different platform.
I wish you all a happy life and great trades. Stay awesome , and thank you for reading.
edit : i didnt post in requests because of the long post , attachments , and potentiel into developing new tools for everyone
edit 2 : sorry for bad english
tf m5, m15 does not draw (signals appear online)
