MT4-LevelStop-Reverse version 2.0
This is a combination of two VT Trader trading systems. The first is the default VT-LevelStop-Reverse and the second is one that was modified to allow customizing the ATR settings for calculating the stop line. I've tried to combine these 2 versions into a single MT4 indicator.
The default VT version allows you to use two modes, optimized, and manual. Optimized mode calculates the stop line by using a 14 period EMA smoothed ATR(14) multiplied by a fixed multiplier of 2.824. In manual mode, you set a fixed number of pips you want the stop line to be drawn. In my MT4 version, there are two modes:
1. ATR mode (customizable ATR period, multiplier, and smoothing)
2. Fixed stop mode (customizable fixed stop)
The input parameters are as follows:
- UseATRMode - This calculates the stop line based on ATR using customizable period, multiplier and smoothing.
- NonATRStopPips - If "UseATRMode" is false, then this value is the number of fixed pips to place the stop line.
- ATRPeriod - If "UseATRMode" is true, then this sets the ATR period.
- ATRMultiplier - If "UseATRMode" is true, then the ATR value will be multiplied by this value when calculating the stop line.
- ATRSmoothing - If "UseATRMode" is true, then this will smooth the selected ATR with an EMA of this smoothing period.
- UpArrowColor - The color the Up arrows will display in.
- DnArrowColor - The color the Down arrows will display in.
- ArrowDistance - This can adjust the distance away from the stop line that the arrows appear. By default, the arrows appear directly above or below the stop line. A positive number here will move the arrows further away from the price. A negative number will move it closer to the price.
- AlertSound - If true, this will sound an alert when the reverse condition has been triggered.
- AlertMail - If true, will send email to the email address registered with MT4.
- ShowComment - This will turn on/off the comment on the chart. Turn off if you have other indicators that put data there and you don't want it overwritten.
For Auslanco's 15M strategy, use the following settings:
UseATRMode = true
ATRPeriod = 28
ATRMultiplier = 2
ATRSmoothing = 0
For the default VT-LevelStop-Reverse behavior, set the following:
UseATRMode = true
ATRPeriod = 14
ATRMultiplier = 2.824
ATRSmoothing = 14
To use this indicator, copy it to your <MetaTrader Folder>\experts\indicators folder. Then restart MT4. It will appear in the custom indicators list.
Before installing, go to your <MetaTrader Folder>\experts\indicators folder and delete any previous copies. The files to delete are:
Version Beta 0.2
- Minor bug fixes.
- Remove extra "UseVTDefault" option.
- Add smoothing option for compatibility with default VT version.
Version Beta 0.3
- Delete objects at startup.
- Use a more unique object name prefix.
- Change ATRBuffer and SmoothBuffer to be non-indicator buffers.
- No need for UpSignal and DnSignal to be buffers.
- Change arrows to display at the stop line.
- Fix bug on current bar drawing that would cause multiple arrows to appear.
Version Beta 0.4
- Fix bug in non-indicator buffers that was causing erroneous data in the ATR buffer and smoothing buffer.
- Fix some problems with the original VT formula that caused arrows to be drawn incorrectly if the price closed at the exact same level as the stop line.Fix bug in non-indicator buffers that was causing erroneous data in the ATR buffer and smoothing buffer.
- Add some print statements for arrow tracking.
- Always smooth, just use 1 for a value if no smoothing is indicated.
- Add ShowComment option
- Fix multiple arrows being drawn in the same place.
- Try to fix an issue where arrows sometimes disappear.
- Add alerts.
- Name arrow objects incrementally rather than via random number.
This is just a quick change to the default momentum indicator to put the line at zero instead of 100 to make it more compatible with the VT Trader momentum. Other than that, not much different.
Lately, Auslanco has been using 3 momentum periods for his analysis. This indicator allows you to specify 3 different momentum periods in the same indicator to save space. This one has both an MT4 and a VT version. The VT version is called "vt_Momentum Multi.vtscr" and the MT4 version is called "Momentum-Multi.mq4".
This indicator was developed as an analysis tool to go with Auslanco's Momentum strategies. Because Auslanco pays a lot of attention to what the momentum indicator is pointing to at the beginning of a new bar, this indicator captures the momentum reading at that time and displays it to the user.
The display is a series of alternating colored short line segments. Each segment spans just 2 bars. Each individual line segment is showing what the momentum reading was at the beginning of the most recent bar of the two.
A standard momentum line is drawn in a light colored dotted line so you can see the actual momentum readings when they differ.
I wouldn't expect people to have this indicator on the charts all the time, but it can be used as an analysis tool to verify the validity of momentum readings and to remember what it said at the beginning of various bars.
It has one input parameter which is "MomPeriod". This is simply the momentum period you wish to use.
- Initial release
Version 1.1 (18 Nov 2007)
- Changed name
- Added support for 2 hour charts
This is a port of the VT Trader Stochastic-RSI-Oscillator to MT4. The new version (1.1) fixes a bug in the calculations that was causing values above 100 and less than zero. Should look more like the VT version now.
RSIPeriod = The RSI Period to use (Default 8)
PeriodK = The Stochastic %K period. (Default 8)
SlowPeriod = The final smoothing (slow) value (Default 3)
- Initial Release
Version 1.1 (14 Nov 2007)
- Fixed bug in calculation of hhv/llv to use current bar. This prevents values over 100 or less than zero.
This was modified from another indicator I found somewhere. This indicator shows up in the chart window and just shows the time the current bar has been active so you can see easily when it will close. It also can display the server time, but since that's displayed by default above the current prices, it is off by default.
Since I've reached the total of downloads I can add to this post, I will provide a link to the indicator.
Other indicators that are useful for Auslanco's strategy can be found at the website here