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IS the indicator updated?
Forex, awful to watch, AWESOME to play
- Joined Nov 2014 | Status: Member | 1,300 Posts
It's very nice dashboard. Can you please explain further your alert system?
At the moment, it is a very rudimentary alerting system (from a code perspective) that fits George's requirements. At the bottom of this post is some outline into the logic, but essentially it just looks at the TF1 and TF2.
Criteria 1:
The MA distances of both the base and the quote currencies on TF1 must have reached the Alert Threshold.
So if the Alert Threshold is 10 pips, the base currency's value must be at least +10 pips and the quote currency's value must be -10pips or less. (opposite for SELL).
Criteria 2:
The MA distances on both the base and the quote currencies must be greater on TF2 than TF1.
Hope that helps
- Joined Nov 2014 | Status: Member | 1,300 Posts
honestknave and 919gilead Thank you very much for sharing your EA and knowledge. I have been looking looking for this sort of indicator/ea and was developing basic one. But this one Mind blowing and lots of work you did by coding and graphically.
- Joined Nov 2014 | Status: Member | 1,300 Posts
There has been some interest in using the values of MADdash in other EAs.
In order to make this easier, I am releasing a new version of MADdash.
IMPORTANT: this is now an INDICATOR (not an EA) so please make sure you add it into the appropriate folder.
All subsequent releases of MADdash will also be an indicator.
If you're not a coder looking to use these values in an EA then you don't need to read on
I have decided not to use buffers. There are 5 timeframes with 8 currencies in each, which would require 40 buffers.
While this is certainly possible to do, I fear it will turn MADdash into a resource hog very swiftly.
Instead, MADdash now creates temporary GVs with the following naming conventions. You should be able to retrieve these values in the normal way.
Good luck
In order to make this easier, I am releasing a new version of MADdash.
IMPORTANT: this is now an INDICATOR (not an EA) so please make sure you add it into the appropriate folder.
All subsequent releases of MADdash will also be an indicator.
If you're not a coder looking to use these values in an EA then you don't need to read on
I have decided not to use buffers. There are 5 timeframes with 8 currencies in each, which would require 40 buffers.
While this is certainly possible to do, I fear it will turn MADdash into a resource hog very swiftly.
Instead, MADdash now creates temporary GVs with the following naming conventions. You should be able to retrieve these values in the normal way.
Good luck
There has been some interest in using the values of MADdash in other EAs. In order to make this easier, I am releasing a new version of MADdash. IMPORTANT: this is now an INDICATOR (not an EA) so please make sure you add it into the appropriate folder. All subsequent releases of MADdash will also be an indicator. If you're not a coder looking to use these values in an EA then you don't need to read on
- Joined Jul 2010 | Status: Great hopes make great men | 1,991 Posts
{quote} Sorry George, looks like we cross-posted.
Low Risk Low Stress High Reward High Probability Trades
- Joined Jul 2010 | Status: Great hopes make great men | 1,991 Posts
honestknave and 919gilead Thank you very much for sharing your EA and knowledge. I have been looking looking for this sort of indicator/ea and was developing basic one. But this one Mind blowing and lots of work you did by coding and graphically.
Low Risk Low Stress High Reward High Probability Trades
- Joined Jul 2010 | Status: Great hopes make great men | 1,991 Posts
{quote} Hello alop, At the moment, it is a very rudimentary alerting system (from a code perspective) that fits George's requirements. At the bottom of this post is some outline into the logic, but essentially it just looks at the TF1 and TF2. Criteria 1: The MA distances of both the base and the quote currencies on TF1 must have reached the Alert Threshold. So if the Alert Threshold is 10 pips, the base currency's value must be at least +10 pips and the quote currency's...
It may be difficult arriving @ the best alert criteria because this is a MTF tool but if anybody has any suggestions, I'm sure Andrew will look into it. I guess it depends on how you use the indicator.
I'm done for now and going for a snooze.
Good trading and green pips to all
Shalom
Low Risk Low Stress High Reward High Probability Trades
- Joined Jul 2010 | Status: Great hopes make great men | 1,991 Posts
There has been some interest in using the values of MADdash in other EAs. In order to make this easier, I am releasing a new version of MADdash. IMPORTANT: this is now an INDICATOR (not an EA) so please make sure you add it into the appropriate folder. All subsequent releases of MADdash will also be an indicator. If you're not a coder looking to use these values in an EA then you don't need to read on
Low Risk Low Stress High Reward High Probability Trades
- Joined Nov 2014 | Status: Member | 1,300 Posts
hi honestknave, you know, each pair has a different pip value. for example; 1 lot eurusd : 10 usd 1 lot eurgbp : 15.8 usd is this a problem ? regards
All I can observe is this:
Some time ago, I was first introduced to the idea of basket strength using MAs by a very well-educated gentlemen on the mathematical side of things.
It was a different technique to this, but what I will say is that the different pip values were not a concern for his method.
That's not to say I'm not comparing apples to pears, because I might be.
But we're not comparing the MA of USDJPY to the bid of EURUSD or anything like that.
Out of my depth, and happy to admit it
- Joined Nov 2014 | Status: Member | 1,300 Posts
{quote} It may be difficult arriving @ the best alert criteria because this is a MTF tool but if anybody has any suggestions, I'm sure Andrew will look into it. I guess it depends on how you use the indicator. I'm done for now and going for a snooze. Good trading and green pips to all Shalom
- Joined Mar 2013 | Status: High Risk High Gain Master | 298 Posts
Aggressive, High Risk, High Gain, High Accuracy
- Joined Jul 2011 | Status: Member | 246 Posts
{quote} Good question, and someone with more mathematical prowess than me would need to give you an answer. All I can observe is this: Some time ago, I was first introduced to the idea of basket strength using MAs by a very well-educated gentlemen on the mathematical side of things. It was a different technique to this, but what I will say is that the different pip values were not a concern for his method. That's not to say I'm not comparing apples to pears, because I might be. But we're not comparing the MA of USDJPY to the bid of EURUSD or anything...
this column can provide a different persperctive and we can see what's going on
thanks
- Joined Nov 2014 | Status: Member | 1,300 Posts
{quote} Hello honestknave, It is quite easy to solve it, just divide [pip value] by [current price] and you will get a percentage change, that would be more objective than pips value. This is suggestion that i mailed to George Regards, Michael
Thanks for the suggestion.
Let's see what George has to say about it. As you can see from his earlier posts, he is using MADdash with a not-insignificant level of success so I don't want to suddenly change the calculation method on him.
From my own simple perspective, will your suggested solution not introduce it's own problems? The MA is calculated off the raw prices but you want to factor (only) the current price when doing the calculation
I'm a trader/coder not a mathematician, so I'm happy to be corrected
- Joined Nov 2014 | Status: Member | 1,300 Posts
{quote} perhaps adding a new column and ma distance can be multiplied by the pip value. this column can provide a different persperctive and we can see what's going on
As you can see, free space on the dashboard is already at a premium with people complaining it won't fit on their screen. So I need to give careful consideration to adding any more information to the dashboard. Plus I would hate for it to end up as just being a jumble of numbers and columns that are nearly impossible to quickly analyse.
- Joined Nov 2014 | Status: Member | 1,300 Posts
Some great points being raised about the calculation method and associated pip value debate: I'm going to leave it open for discussion on here for a while before I implement anything.
I hope nobody takes this the wrong was because I'm talking in general terms now (not about anything that has been said on here). All too often I see a relatively simple concept excessively complicated until it essentially becomes unworkable, or ending up with a tool so full of options that no one really knows how to use it.
I'd love to see some robust arguments made one way or the other about the calculation method before I commit to changing the calculation method.
I hope nobody takes this the wrong was because I'm talking in general terms now (not about anything that has been said on here). All too often I see a relatively simple concept excessively complicated until it essentially becomes unworkable, or ending up with a tool so full of options that no one really knows how to use it.
I'd love to see some robust arguments made one way or the other about the calculation method before I commit to changing the calculation method.
- Joined Mar 2013 | Status: High Risk High Gain Master | 298 Posts
{quote} Hello Michael, Thanks for the suggestion. Let's see what George has to say about it. As you can see from his earlier posts, he is using MADdash with a not-insignificant level of success so I don't want to suddenly change the calculation method on him. From my own simple perspective, will your suggested solution not introduce it's own problems? The MA is calculated off the raw prices but you want to factor (only) the current price when doing the calculation
Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy