DislikedGood thread and idea you've started here fukinagashi. As i'm a proponent of what i've coined 4Dcharting (using lower time frame charts with higher time frame data in the mix) i like the idea proposed here, in particular looking at multiple closes outside TDTLs (which i've been using for many months since reading DeMark's great book). My thoughts on charting/TA include the idea that multiple hits on a lower time frame (or in our case closes) at a known suppor/resistance may have more validity than a single hit on a larger time frame. I know this thread is in the Mouteki niche forum and the bigM based the original on 4hr charts, though i find no problem looking at the 1hr if it helps bring in the pips. And in the end, this model is based on a known and proven style from a great trader Tom DeMark as written in his book "The New Science of Technical Analysis"... As a wise old man (King Solomon) once wrote; "There is nothing new under the sun"...we must keep in mind, that just about any system or model these days is just a rehash and hack of someone else's work, as is the Mouteki Trading Model (just as mine is or any i've seen here at FF) is. Just ramblin'.
As a side note, i have forwarded the indicator's post link to a fellow trader and MT4 coder as he fixed a similar bug in an indicator he and i were working on. Hopefully if he has the time the "erasing" bug will be fixed and we can keep the indicator on the chart with our other TA.
Post Script: My friend here at FF was able to fix the bug, now the indicator can be used with any number of other MT4 tools on the same chart and they are all compatible. Yippie. I would mention his name but then he might be deluged with bug fixes. Suffice it to say he is a great help and his behind the scene assistance is greatly appreciated! I've given the link to the indicator directory at the Mouteki Resource page just in case there are other mods we want in the future, this link will still be good:
thanks for the info, how do I actually input it into myMT4 platform, at the moment I have the MetaEditor up?