SpikeHunter Indicator (R4M-SpikeHunterIndi.ex4) new update
I've updated the SpikeHunter indicator and uploaded it to the other thread -- "Custom Indicators for TMA-ADR Reversal Trading and BBMA" (https://www.forexfactory.com/showthread.php?t=920925). All indicators are bundled in a *.zip file.
This version supports 8 different envelope-types that you can access from the buttons at the lower-right corner. This should make it much easier to experiment with and see how the different envelope / band curves affect the signals. The supported envelope types are:
1. M1 TMA
2. Keltner ATR
3. smLazyTMA
4. ATR Envelope
5. Headley Bands
6. TMA Centered
7. TMA + CG (mladen)
8. Kijun Sen
I've also added another visual cue -- Fractal Channel. It provides a nice confirmation that the signal generator is doing a good job. If you wish, the Fractal Channel can be hidden by setting 'ShowFractalChannel' to false. The Fractal Channel is not used for any computation.
I think my favorite envelopes are @Swingman's LazyTMA and TMA centered. I'm curious what other people think.
Unless someone has a compelling reason to add more, I think I'm done with envelopes.
So far the SpikeHunter indicator has implemented signal generation (via the envelopes) and filtering (to minimize the number of false positives). Going forward, the next thing I'll add is an Exit condition. I've mentioned the RSX indicator before and I think it would do a nice job. The Exit condition will be used in place of TakeProfit. I'll also add ADR for use in calculating a stop-loss appropriate for each pair. I will also place graphical elements on the chart so you can see where the corresponding StopLoss and Exit would occur for each signal.
And finally, I'm creating a metric that will allow us to compare the performance of the different envelope types on different pairs. The metric will be a guesstimate of WinRatio. It will take into account the signals, Exits and stoplosses over the most recent 1000 bars.
I've updated the SpikeHunter indicator and uploaded it to the other thread -- "Custom Indicators for TMA-ADR Reversal Trading and BBMA" (https://www.forexfactory.com/showthread.php?t=920925). All indicators are bundled in a *.zip file.
This version supports 8 different envelope-types that you can access from the buttons at the lower-right corner. This should make it much easier to experiment with and see how the different envelope / band curves affect the signals. The supported envelope types are:
1. M1 TMA
2. Keltner ATR
3. smLazyTMA
4. ATR Envelope
5. Headley Bands
6. TMA Centered
7. TMA + CG (mladen)
8. Kijun Sen
I've also added another visual cue -- Fractal Channel. It provides a nice confirmation that the signal generator is doing a good job. If you wish, the Fractal Channel can be hidden by setting 'ShowFractalChannel' to false. The Fractal Channel is not used for any computation.
I think my favorite envelopes are @Swingman's LazyTMA and TMA centered. I'm curious what other people think.
Unless someone has a compelling reason to add more, I think I'm done with envelopes.
So far the SpikeHunter indicator has implemented signal generation (via the envelopes) and filtering (to minimize the number of false positives). Going forward, the next thing I'll add is an Exit condition. I've mentioned the RSX indicator before and I think it would do a nice job. The Exit condition will be used in place of TakeProfit. I'll also add ADR for use in calculating a stop-loss appropriate for each pair. I will also place graphical elements on the chart so you can see where the corresponding StopLoss and Exit would occur for each signal.
And finally, I'm creating a metric that will allow us to compare the performance of the different envelope types on different pairs. The metric will be a guesstimate of WinRatio. It will take into account the signals, Exits and stoplosses over the most recent 1000 bars.
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