Could anyone code this Oscillator in MT4 (can call it MTOsc) please and perhaps provide an MTF version? Unfortunately,the coding is too difficult for me at present.http://www.fxfisherman.com/forums/im...milies/sad.gif
It is an oscillator that gives good signals when peaking below zero (i.e. peak in -ve territory=enter short),troughing above zero (i.e. trough in +ve territory=go long).A virtue is that it is smooth,i.e. does not have many off-putting "wrinkles".This is the coding (fairly self-explanatory) that I use with the IT-Finance package,ProRealtime:
y=ExponentialAverage[par1](close)
y1=5*ROC[2](y)
y2=ExponentialAverage[par2](y1)
y3=Tema[par3](y2)
par1,par2 and par3 are user parameters. The indicator works well with par1=20,par2=3,par3=7
It would be helpful if zero line was included, if poss.
Again,ideally,one colour is to be used when osc line rising (default=blue,say),another when falling (default=red,say) as colour change will highlight the entry signals.
Multiframe use: Can use the entry signals as above in a higher time-frame as a filter for trades in lower frame (either again using the indicator itself or your own approach or both). Example W=higher,D=lower; M=higher,D=lower etc.
Oscillator movement in higher frame can uncover excellent trends in lower frame (eg as noted by William Blau and others).
Many thanks.
Mike
It is an oscillator that gives good signals when peaking below zero (i.e. peak in -ve territory=enter short),troughing above zero (i.e. trough in +ve territory=go long).A virtue is that it is smooth,i.e. does not have many off-putting "wrinkles".This is the coding (fairly self-explanatory) that I use with the IT-Finance package,ProRealtime:
y=ExponentialAverage[par1](close)
y1=5*ROC[2](y)
y2=ExponentialAverage[par2](y1)
y3=Tema[par3](y2)
par1,par2 and par3 are user parameters. The indicator works well with par1=20,par2=3,par3=7
It would be helpful if zero line was included, if poss.
Again,ideally,one colour is to be used when osc line rising (default=blue,say),another when falling (default=red,say) as colour change will highlight the entry signals.
Multiframe use: Can use the entry signals as above in a higher time-frame as a filter for trades in lower frame (either again using the indicator itself or your own approach or both). Example W=higher,D=lower; M=higher,D=lower etc.
Oscillator movement in higher frame can uncover excellent trends in lower frame (eg as noted by William Blau and others).
Many thanks.
Mike