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  • #21
  • Oct 19, 2020 2:39pm Oct 19, 2020 2:39pm
Quoting Merka
Hi R4M I have an idea for a simple indicator for entry signal and the context can be your ADR or TMA or whatever you like. It's simply based on stochastic +RSI. Please send me a PM with your email so I can send you some pictures and explanations. Cheers
@Merka -- thanks, but I would never attempt to code something from pictures. If you can describe the algorithm's rules using English or math then I might or might not -- I can't promise anything. Also, I prefer to keep things public and not use PM. Feel free to describe your algorithm here and perhaps others could chip in to help you refine it into a set of rules that are more readily translated to code. You could start by posting a picture or two here.
  • #22
  • Oct 19, 2020 3:41pm Oct 19, 2020 3:41pm
Quoting robots4me
{quote} @Merka -- thanks, but I would never attempt to code something from pictures. If you can describe the algorithm's rules using English or math then I might or might not -- I can't promise anything. Also, I prefer to keep things public and not use PM. Feel free to describe your algorithm here and perhaps others could chip in to help you refine it into a set of rules that are more readily translated to code. You could start by posting a picture or two here.
R4M
See attached folder with description, template and 2 indicators that you don't have.
Load the template so you understand the setting of the 2 EMA.
None of indicators used are repainting/recalculating.
It's not holy grail as some false signals still exist.
I mitigate those circumtancies with MM because I didn't found any alternative indicator good enough for filtering.
Let me know if it's not clear.
Attached File(s)
File Type: zip Indicator 19-10-2020.zip   333 KB | 751 downloads
  • #23
  • Oct 19, 2020 4:13pm Oct 19, 2020 4:13pm
Quoting Merka
{quote} R4M See attached folder with description, template and 2 indicators that you don't have. Load the template so you understand the setting of the 2 EMA. None of indicators used are repainting/recalculating. It's not holy grail as some false signals still exist. I mitigate those circumtancies with MM because I didn't found any alternative indicator good enough for filtering. Let me know if it's not clear. {file}
@merka -- I've attached a screenshot using your template and a copy of your description below:

Attached Image (click to enlarge)
Click to Enlarge Name: merka-stoch-rsi.png Size: 74 KB



################################################################

The following will describe reversal entry conditions for BUY and the signal is taken from H1:

Condition1:
EMA1(24) is applied to RSI(666)
EMA1(24)<RSI(666)

Condition2:
EMA2(24) is applied to Stoch(200)
EMA2(24)< Stoch(200)<Stoch(120)<Stoch(60)<Stoch(5)

Condition3:
Price is coming from below the middle band of TMA and there is space to go to upper band of TMA

Condition4:
Price is <= +0,25% of "grid indicator"

Entry at price levels of "grid indicator": +0,25% or 0% or -0,25% or -0,5% etc....
SL at one or 2 grid level distance (for example entry at +0,25% SL will be at 0% or -0,25%)
TP at 1 or 2 grid levels above (for example entry at 0% and TP will be at +0,25% or +0,5%)

Opposite for sell entry

################################################################

This is nice -- but I don't know what you are asking of me. Without the source code for the grid indicator I have nothing more to go on and I'm not inclined to re-invent the wheel. You have a nice template, so why not trade from it?

The grid indicator is interesting -- I've have not used something like that before. I would have to think about this some more.

Thanks...
  • #24
  • Oct 19, 2020 4:32pm Oct 19, 2020 4:32pm
That grid is simply daily open price (+-0.25%daily open price) for upper or lower levels.
It can be also +-30% or +-40% or whatever spacing you would like. You can set in settings.

The idea is to enter the market with momentum.
If you have time first let's create indicator for conditions 1+2 and from there we can visually bactest history.
Untimely will be nice to code an EA to test history without discretion but I don't want to abuse your time.
I have the fealing that it can give good % success but I can't quantify how much.
  • #25
  • Oct 19, 2020 4:34pm Oct 19, 2020 4:34pm
I found that grid here
https://www.forexfactory.com/thread/post/13221361#post13221361
  • #26
  • Oct 19, 2020 5:31pm Oct 19, 2020 5:31pm
Quoting Merka
That grid is simply daily open price (+-0.25%daily open price) for upper or lower levels. It can be also +-30% or +-40% or whatever spacing you would like. You can set in settings. The idea is to enter the market with momentum. If you have time first let's create indicator for conditions 1+2 and from there we can visually bactest history. Untimely will be nice to code an EA to test history without discretion but I don't want to abuse your time. I have the fealing that it can give good % success but I can't quantify how much.
@Merka -- for now I'm going to pass -- but I will think about it. It is not as though I'm looking for a new strategy to trade -- I'm not. I just felt like sharing some of the indicators I currently use or have used in the past. Everyone's brain works a bit differently -- where one person sees a rock another may see a diamond.

And regarding an EA -- I'll be honest -- no way. I would never do that again here a FF. I prefer to leave the trading decisions and money management to the individual.
  • #27
  • Oct 19, 2020 5:40pm Oct 19, 2020 5:40pm
Quoting Merka
I found that grid here https://www.forexfactory.com/thread/post/13221361#post13221361
@Merka -- I'm familiar with that thread. That's the one where I was called a pig for presenting a different perspective and then pushing back when scolded for it. Since I was getting into to much trouble on other threads, I then decided to stick closer to home and start a new one where only I can call myself a pig... That thread left a bad taste in my mouth and I have zero inclination to spend time reading it.
  • #28
  • Oct 19, 2020 6:16pm Oct 19, 2020 6:16pm
OnTick() versus OnTimer()

Every indicator must implement an event handler that kicks-off its computation and chart display. By far the most common is OnTick(). The way it works is whenever there is a new tick (i.e. change in price) then MT4 calls the indicator's OnTick() routine and the indicator repeats its computations and chart markings. There is no guarantee when new ticks will arrive (with one exception). There may be several per second or only once per hour -- it depends on the pair, trading session and time of day, news, etc. As an aside -- whoever is curious enough and asks what the exception is (or even knows what the exception is) gets a gold star.

This generally works fine except when ticks arrive too frequently or when an indicator requires lots of time to perform its calculations or when too many indicators are attached to one chart. You may have encountered times when MT4 appears slow to respond or even hangs. Or maybe you have to refresh a chart to see the latest markings.

Each chart runs in its own "thread of execution" -- which means, MT4 gives each chart a small CPU time slice to complete *ALL* its computations. And by *ALL* I mean all indicators attached to that specific chart -- whether they are attached to the main chart or subwindows. Once that CPU time slice has been exhausted, then the thread is killed and MT4 gives a small CPU time slice to the next chart. Even if the first chart hasn't completed its computations and markings, MT4 kills it and moves on to the next chart.

If the previous CPU slice given to a chart doesn't complete, then when that chart later gets refreshed it appears that something has changed. That is not not necessarily the fault of the indicator. It's likely due to ticks arriving to frequently, which results in the indicator not being able to complete its computations within its given time slice. This single-threaded architecture used by MT4 was replaced and improved in MT5, but who wants to use MT5 (most brokers won't touch it).

Turns out there is an alternative event handler that can be used -- OnTimer(). MetaQuotes makes zero effort to document its underlying architecture -- probably for security reasons. So -- the use of OnTimer() is not well known and rarely used. When OnTimer() is used the developer associates a time interval with the timer -- e.g. 2 seconds -- and then every 2 seconds Windows (not MT4) calls the indicator's OnTimer() routine and the indicator performs its computations and updates its markings on the chart. Furthermore, the computations are not interrupted by MT4 killing the indicator's thread. Using OnTimer(), instead of OnTick(), helps mitigate the problem of the indicator's thread getting bogged down by too many ticks or not having enough time to complete its computations.

Most all my indicators use OnTimer() instead of OnTick() -- which is one reason why I rename them and add the 'R4M' prefix.
  • #29
  • Oct 19, 2020 8:03pm Oct 19, 2020 8:03pm
Hi R4M, following your posts the past month has been entertaining, thank you.

If your interested and are looking for something occupy those idle hands and keep you out of trouble, I've got a request to code @mladen's Marney range Indi (extended) so that the values appear on the main chart.
https://www.mql5.com/en/forum/179807/page192

I imagine it to be similar to @nickbixy's averangelines that plot the lines in a dynamic fashion. So that as price moves the lines adjust real-time as well as multi tf.
https://www.forexfactory.com/showthread.php?p=12876298#post12876298

With the extended Marney one could have future ranges plotted as well.

Side note....when my mother was arrested for protesting the Vietnam war. She would turn to the officer and tell them she respected them for their Pride Integrity and Guts. She told me that's what P.I.G. stood for
Attached File(s)
File Type: mq4 marney_range_indicator_-_extended.mq4   4 KB | 516 downloads
File Type: mq4 AverageRangeLines_v1.1.mq4   11 KB | 496 downloads
  • #30
  • Edited 11:07pm Oct 19, 2020 10:51pm | Edited 11:07pm
Quoting ScALpipTaToE
Hi R4M, following your posts the past month has been entertaining, thank you. If your interested and are looking for something occupy those idle hands and keep you out of trouble, I've got a request to code @mladen's Marney range Indi (extended) so that the values appear on the main chart. https://www.mql5.com/en/forum/179807/page192 I imagine it to be similar to @nickbixy's averangelines that plot the lines in a dynamic fashion. So that as price moves the lines adjust real-time as well as multi tf. https://www.forexfactory.com/showthread.php?p=12876298#post12876298...
@ScALpipTaToE -- what kind of alias is that? It took me several attempts to type it without making an error... (actually, I did cut / paste).

Excellent post -- thanks. And I appreciate the story about your mother. And I was there, too. Upon reflection I'm not so proud of how I behaved, but when you're 18 and stupid then you do stupid sh-t. At least one thing has changed -- I'm no longer 18.

When I first read your post I thought "oh, no it's starting -- everyone and their brother is going to ask me to code another indicator. I thought there was already a thread for this". But after taking a look at it I've had a change of heart -- I will give it a shot. And I should be clear -- I started this thread because I was getting into "too much" trouble. I still need to reserve a bit of time to get into "some" trouble.

Below is a screenshot of the marney indicator you uploaded. It's interesting and different -- thanks...
Attached Image (click to enlarge)
Click to Enlarge Name: marney-indicator.png Size: 35 KB

With just a quick glance the pattern that I see is whenever a thin pink or blue line extends beyond the thick pink line then that would serve as a signal.

@ScALpipTaToE -- would you mind sharing with us how you would trade this indicator?



EDIT: And here's a brief description from @mladen replying to a question on mql5.com (slightly edited by me):

--------------------------
@mladen:

In Marney volume/range indicators the averages are calculated the following way (let us assume that we are using hourly charts) :

- we take a range -- e.g. 01:00 -- and add it to sum
- then we take the range for 01:00 one day ago and add it to sum
- then we take the range for 01:00 two days ago and add it to sum
- and so an until we sum up all we need and divide it by the number of bars used
--------------------------

I think this is used to create the repeating thick, pink line. So -- when a range sticks its nose above the average we may interpret that as a signal. Feel free to correct me if that is wrong.
  • #31
  • Oct 19, 2020 11:47pm Oct 19, 2020 11:47pm
Thank you for this. I would use it in a similar way to the work you did with @BishopDotun. Possible reversals as tf's line up, a way to see extremes in price. I just find it makes more sense to me to average ranges of the particular time of day rather than consecutive candles.

Correct, the vertical line is the current range and the thick pink is the Ave of that time in the past so many days...I think Caspar Marney suggested 50 days and 10 days for the volume Indi.

It's interesting to match up the volume and range Indi to do wyckoffian, vsa or pvsra analysis with. With a range outside of Ave and a volume under Ave show a lack of liquidity and a tendency to fill the gap. With a range under ave and more than ave volume tends to act as s/r.

Hmm, the Marney indi's data could be used for bill Williams' market facilitation index (mfi) Indi

Thanks again
  • #32
  • Oct 19, 2020 11:58pm Oct 19, 2020 11:58pm
Quoting ScALpipTaToE
...It's interesting to match up the volume and range Indi to do wyckoffian, vsa or pvsra analysis with. With a range outside of Ave and a volume under Ave show a lack of liquidity and a tendency to fill the gap. With a range under ave and more than ave volume tends to act as s/r...
@ScALpipTaToE -- interesting -- something new!! I will noodle on this -- thank you for keeping me out of trouble...
  • #33
  • Edited 12:50am Oct 20, 2020 12:18am | Edited 12:50am
Quoting ScALpipTaToE
Thank you for this. I would use it in a similar way to the work you did with @BishopDotun. Possible reversals as tf's line up, a way to see extremes in price. I just find it makes more sense to me to average ranges of the particular time of day rather than consecutive candles. Correct, the vertical line is the current range and the thick pink is the Ave of that time in the past so many days...I think Caspar Marney suggested 50 days and 10 days for the volume Indi. It's interesting to match up the volume and range Indi to do wyckoffian, vsa or pvsra...
@ScALpipTaToE -- the more I stare at it the more interesting it becomes. The closest 'metric' I've encountered so far that has the ability to "predict" the future is the ADR -- which I like a lot. And this marney strategy with its repeating average range at particular times of the day seems to have that flavor, as well.

As I stare at the repeating thick, pink line then I can see that its direction also provides a clue -- and we know its direction in advance!! For example, if a thin pink bar extends beyond the average at its peak or as it declines, then that aligns with a bearish price movement. And if a thin blue bar extends beyond the average but as the average is rising, then that aligns with a bullish price movement.

EDIT: Below are examples of what I mean...
The optimal time to BUY is during the upside of the average (thick pink line), and the optimal time to SELL is during the downside of the average. Since we know the average in advance, then it kind of serves as a clue as to which direction the price is headed -- kind of like how we use ADR.
Attached Image (click to enlarge)
Click to Enlarge Name: marney-optimal-BUY.png Size: 11 KB

Attached Image (click to enlarge)
Click to Enlarge Name: marney-optimal-SELL.png Size: 12 KB
  • #34
  • Oct 20, 2020 5:49pm Oct 20, 2020 5:49pm
Since this is my thread, I'm going to take a risk and share what I think is the best trading video. After watching the video go do something you've never done before.

So, grab a beer, kick back in a comfy chair, zoom your monitor to full screen and enjoy the next 9 minutes. In the meantime I'm working on the Marney (Price) Range indicator that @ScALpipTaToE uploaded a few posts ago...

https://www.youtube.com/watch?v=4wuBCQrHl2E&feature=youtu.be
  • #35
  • Oct 20, 2020 6:45pm Oct 20, 2020 6:45pm
Thank you R4M for your simple and straightforward explanation of OnTick() versus OnTimer() ...

Kudos

In this forum full of "experts" sometimes I wonder at the level of confusion that exists in peoples minds and why it translates to no markets results

Keep it simple folks

Thanks
  • #36
  • Oct 20, 2020 7:39pm Oct 20, 2020 7:39pm
R4M-MarneyRange
R4M-MarneyRange-OnChart

A few posts back @ScALpipTaToE posted the source code for marney_range_indicator_-_extended.mq4 and asked if I would consider modifying the indicator such that its values appear on the main chart. Normally I would pass on such a request, but after building and running this indi I saw something different and intriguing. The "range" part refers to the price range -- i.e. the size of each bar in a particular chart (i.e. time frame). Over the course of 50 days, the price range of each bar at the same time interval is summed and then divided by the number of bars in the summation. What results is a *repeating* average price range for each bar at that time of the day.

I decided to break this task into 2 stages. The first stage is the R4M-MarneyRange indicator -- which includes two modifications: substituting the OnTick() event handler with OnTimer() (for reasons I described in an earlier post), and adding blue and purple dots to mark *candidate* signals. I want to emphasize the term *candidate*. You do not necessarily trade a candidate signal. Since we are discretionary trading in real-time, a candidate signal alerts your brain there may be a potential setup and we should now further poke around and look for additional clues, hints, confirmation before opening a new trade. The red line is the average price range plotted one day into the future.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-MarneyRange.png Size: 36 KB


The purple and blue dots make it easier to see candidate signals, but I think they occur too frequently for this indicator to be used directly for trading. However, I noticed that if the candidate signals are filtered such that only transition candidate signals are used, then a much better picture emerges. And what I mean by transition candidate signals is a blue dot preceed by a purple dot or a purple dot preceeded by a blue dot. This should be become more clear below.

The next screenshot is from a lower time frame -- you can see that the price range bars often fill the average line quite nicely. As a result, the red line that plots the average price range one day into the future can provide a valuable clue.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-MarneyRange-M30.png Size: 43 KB


The screenshot below is the R4M-MarneyRange-OnChart indicator. It marks candidate signals on the mainchart, which makes it easier to see how they align (or don't align) with the price bars. This is nice, but too difficult to trade because of the many signals (in my opinion).

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-MarneyRange-OnChart.png Size: 45 KB


I added a setting called 'Alternating transitions' that when set to 'true' (the default) will then filter the candidate signals to only include transitions. And as you can see in the screenshot below then a much better picture emerges. Furthermore, overlaying the centered TMA results in a chart that even I could trade.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-MarneyRange-OnChart-plus-LazyTMA.png Size: 41 KB

One last point -- when trading H4 you really only need to get a couple of bars right to win lots of Pips. You aren't necessarily looking for long runners. Winning a couple of bars could easily earn you 50-60 Pips. It's absolutely okay to then walk away (even if in hindsight you later learned there were additional Pips on the table).

Attached File(s)
File Type: ex4 R4M-MarneyRange.ex4   43 KB | 512 downloads

Attached File(s)
File Type: ex4 R4M-MarneyRange-OnChart.ex4   47 KB | 592 downloads
  • #37
  • Oct 21, 2020 5:16am Oct 21, 2020 5:16am
Quoting C-12
{quote} Don’t forget the title of this thread is "Indicators for Discretionary Trading"
Oh sorry, I thought it is "Let's collect all useless harmful and dangerous repainting shit in one thread talking about ticks vs time and showing fake historical screenshots of the things that never happened" thread.

I thought TMA was just one of indicators, but as I see it is the heart of that "trading" thread. So I'm out. This is too funny for me to explain obvious things. People love magic and repainting indicators that are showing bright future. Keep going!
Observer effect
  • #38
  • Oct 21, 2020 9:17am Oct 21, 2020 9:17am
Quoting ryuryu
{quote} Oh sorry, I thought it is "Let's collect all useless harmful and dangerous repainting shit in one thread talking about ticks vs time and showing fake historical screenshots of the things that never happened" thread. I thought TMA was just one of indicators, but as I see it is the heart of that "trading" thread. So I'm out. This is too funny for me to explain obvious things. People love magic and repainting indicators that are showing bright future. Keep going!
Ryuryu,

Steve is more of an advanced coder than a trader. Since you joined in 2020; he had a thread last year 2019, where there was lot of discussion and many iterations of different indicators. In the end he came out with a EA that has fair value price denoted by a TMA and an ADR off set. Some of the indicators in this thread are versions of the old indicators from the previous thread and some new ones.

I think your heart is in the right place to warn others about the behavior where people show many historical charts for nefarious purposes.

Steve isn't one of them,for starters, one loses track of how many times he keeps saying he is an amateur trader. What this thread is currently a set of indicators given out and Steve is going about it in a free flow style. The end game here is not something that happens in scam threads. Have a open mind, you can add a couple of indicators to your arsenal.

Thanks
  • #39
  • Edited 7:47pm Oct 21, 2020 11:47am | Edited 7:47pm
Quoting ryuryu
{quote} Oh sorry, I thought it is "Let's collect all useless harmful and dangerous repainting shit in one thread talking about ticks vs time and showing fake historical screenshots of the things that never happened" thread. I thought TMA was just one of indicators, but as I see it is the heart of that "trading" thread. So I'm out. This is too funny for me to explain obvious things. People love magic and repainting indicators that are showing bright future. Keep going!
@ryuryu -- thank you, child, for letting us all know what you think. Now go outside and play... When you grow up you are free to return -- but for now I just don't have the patience. And thanks for reminding me why I started this thread in the first place -- for exactly this reason -- I can now say BYE, BYE to you...
  • #40
  • Edited 2:59am Oct 22, 2020 2:34am | Edited 2:59am
R4M-GetTrend

The R4M-GetTrend indicator combines both trend and momentum elements. For trend it uses fast (10 EMA) and slow (44 LWMA) moving averages. And for momentum it uses blue and purple lines to indicate where the difference between slow and fast MAs is increasing.

Attached Image (click to enlarge)
Click to Enlarge Name: GetTrend-Indicator.png Size: 34 KB

For trading purposes, I don't necessarily go for the crossings. I'm more interested in the blue / purple lines. When the blue / purple lines stop then I'm looking to Exit.


Oh -- I almost forgot to overlay with the centered TMA that helps to provide a "context". This is for @ryuryu's benefit because I know how lost he would feel without the centered TMA.

Attached Image (click to enlarge)
Click to Enlarge Name: GetTrend-plus-LazyTMA.png Size: 49 KB



Attached File(s)
File Type: ex4 R4M-GetTrend.ex4   68 KB | 587 downloads
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