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MADdash (Moving Average Distance)

  • #3,121
  • Sep 29, 2020 10:25am Sep 29, 2020 10:25am
Quoting jacem
Hi, First of all, thanks to 919gilead for inventing MADdash and honestknave for programming! It has occurred to me earlier that past data should also be displayed, and I read a request to that effect here in the forum the other day. In a couple of weeks, a solution was born, as I think. Some settings verbally (others attached as images): - MA_period, MA_price, MA_method I think is clear, - Threshold: currency strength is in the range of 0-7....
Good job Tamas. If we have more traders like you who build upon what has been developed and take it to another level, we will all be better for it.
Thank you
Low Risk Low Stress High Reward High Probability Trades
  • #3,122
  • Sep 29, 2020 11:05am Sep 29, 2020 11:05am
Quoting 919gilead
{quote} Good job Tamas. If we have more traders like you who build upon what has been developed and take it to another level, we will all be better for it. Thank you
Hey....! Welcome Back George.
  • #3,123
  • Sep 29, 2020 1:58pm Sep 29, 2020 1:58pm
Many thanks for this hard work. Could be very useful.
I found something that could be wrong, where both CHF and JPY have the same colour and value on the M5 grid.
I have the system set on 21 LWMA, and you can see on my M5 chart that the price is above the red 21 LWMA.
But possible I have missed something?
Thanks again.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: HJ.PNG Size: 45 KB
Click to Enlarge Name: HJ2.PNG Size: 51 KB
  • #3,124
  • Sep 29, 2020 2:07pm Sep 29, 2020 2:07pm
Quoting Backspin
Many thanks for this hard work. Could be very useful. I found something that could be wrong, where both CHF and JPY have the same colour and value on the M5 grid. I have the system set on 21 LWMA, and you can see on my M5 chart that the price is above the red 21 LWMA. But possible I have missed something? Thanks again. {image} {image}
Hi,

I see you have the strong (above it) that blue color (super, honestly I didn't even test the colors ).
As I see the chart, the price is above the MAs there too. So I think the color blue is right.
(In the description above, I forgot to describe that the numbers that appear in the Grid table are the distance from the set moving average in points.)

Fx_Jacem

(I hope I understood the question well.)
  • #3,125
  • Sep 29, 2020 2:20pm Sep 29, 2020 2:20pm
[quote=jacem;13190103]{quote} Hi, I see you have the strong (above it) that blue color

OK, I guess I expected to see red when a currency is weaker, in this case the JPY, as we see on the MADASH. So now I am confused. If I look and see the horizontal row all red or all blue, does that not indicate weak and strong? Isn't that the reason for the colours? Again, respect for the hard work and thanks for the reply.
  • #3,126
  • Sep 29, 2020 2:31pm Sep 29, 2020 2:31pm
[quote=Backspin;13190118]
Quoting jacem
{quote} Hi, I see you have the strong (above it) that blue color OK, I guess I expected to see red when a currency is weaker, in this case the JPY, as we see on the MADASH. So now I am confused. If I look and see the horizontal row all red or all blue, does that not indicate weak and strong? Isn't that the reason for the colours? Again, respect for the hard work and thanks for the reply.
Hi,

But yes, colors are used to differentiate strength / weakness in histogam display. (As the guys figured out earlier.) In this case, the candles that have already been closed are just drawn.
When the grid is displayed in the first column, there the two colors play the role above / below for the pairs. The numbers displayed are measured in points as the distance of the price from the set moving average. Here the data is updated at the intervals set in the settings, real-time (candles not yet sealed.)
It is possible to switch the first column to a histogram display, then the above will also apply.

Thanks for testing my "creation"

Fx_Jacem
(I hope I understood your question well.)
  • #3,127
  • Sep 30, 2020 4:47am Sep 30, 2020 4:47am
[quote = honestknave; 12663661] Versión: 1.37 Caducidad: 31 de diciembre de 2020 ¡Deseando éxito a todos! {archivo} [/ cita]

Buenos días ,Honestknave Tendremos un nuevo MADdash para el 2021 ? Please ....
  • #3,128
  • Sep 30, 2020 8:22am Sep 30, 2020 8:22am
Quoting jacem
Hi, First of all, thanks to 919gilead for inventing MADdash and honestknave for programming! It has occurred to me earlier that past data should also be displayed, and I read a request to that effect here in the forum the other day. In a couple of weeks, a solution was born, as I think. Some settings verbally (others attached as images): - MA_period, MA_price, MA_method I think is clear, - Threshold: currency strength is in the range of 0-7....
Excellet! Outstanding work Jacem! I can't wait to dig into this and see how it will help me with my trading. I have always thought being able to see the past currency strength readings is key to making MADDash work. The only solution I found to get this done was to set up a program to take a snapshot of the screen every five minutes, but I never implemented it. This is an awesome solution!

Thank You
ForexJedi1
  • #3,129
  • Sep 30, 2020 10:42am Sep 30, 2020 10:42am
Quoting forexjedi1
{quote} Excellet! Outstanding work Jacem! I can't wait to dig into this and see how it will help me with my trading. I have always thought being able to see the past currency strength readings is key to making MADDash work. The only solution I found to get this done was to set up a program to take a snapshot of the screen every five minutes, but I never implemented it. This is an awesome solution! Thank You ForexJedi1
Hi forexjedi1,

Thank you very much for your kind words. I hope you enjoy my work and will be able to use it.

Regards,
Fx_Jacem
  • #3,130
  • Sep 30, 2020 6:22pm Sep 30, 2020 6:22pm
Can we have a suffix to currency pairs option for this indicator ?
Thanks, will test it out.
It never gets easier, you just get better
  • #3,131
  • Oct 1, 2020 1:34am Oct 1, 2020 1:34am
Quoting Shabs19
Can we have a suffix to currency pairs option for this indicator ? Thanks, will test it out.
Good morning!

Just yesterday I created this function for the indicator. I also tried it on an Oanda broker, it works.
Also, I put a ‘C’ button in the top left corner to switch directly between the grid and histogram display on the front panel.

Attached File(s)
File Type: ex4 MultiBar2.ex4   226 KB | 656 downloads
(2.04)

Fx_Jacem
  • #3,132
  • Oct 25, 2020 4:13am Oct 25, 2020 4:13am
A huge thank you 919gilead and honestknave for birthing and developing the MAD dash indicator. It is very well thought out, flexible and robust. It is an amazing prospecting tool that helps me to quickly get a feel for the 8 currency groups and focus in on the best opportunities matching strength and weakness. In particular I look for trend resumptions after pullback or consolidation. The "time frame recycling" that you mention is particularly helpful in this. Also, I think it's especially important to use moving average settings that fit in well with one's understanding of and style of trading. Thank you again for the indicator's settings' flexibility to enable us to customize this indicator.
Just 1 question: the thread says this indicator expires in Dec 2020. Will we still be able to continue using the indicator that was downloaded before then? Please elaborate about the expiration date.

Shalom and God Bless to both of you.
  • #3,133
  • Oct 25, 2020 8:58am Oct 25, 2020 8:58am
Quoting howard95
Just 1 question: the thread says this indicator expires in Dec 2020. Will we still be able to continue using the indicator that was downloaded before then? Please elaborate about the expiration date. Shalom and God Bless to both of you.
couple of weeks before expiry, it will be extended for another year. this has been so for many years already.
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  • #3,134
  • Oct 25, 2020 2:32pm Oct 25, 2020 2:32pm
Quoting Inthebox
{quote} couple of weeks before expiry, it will be extended for another year. this has been so for many years already.
Thank you for your prompt response.
  • #3,135
  • Oct 31, 2020 2:46am Oct 31, 2020 2:46am
Quoting honestknave
Latest Version: 1.37 ------------------------ Frequently Asked Questions click here ------------------------ What is MADdash? A multi timeframe dashboard looking at price's distance from a moving average. Where do I put the file? In the EXPERTS folder. It is a large dashboard designed to take over a chart. Latest version is an INDICATOR What is the background to MADdash? Back in April I started...
MY MADDASH LOOK LIKE THIS-

I SEE THE LETTERS AND FIHURES ARE BIGGER THAN THEIR "BOXES"... i modify Font size and made all tge madash smaller but with the same problem

CAN YOU HEL ME ? THANK YOU
Attached Image (click to enlarge)
Click to Enlarge Name: photo_2020-10-28_23-18-26.jpg Size: 134 KB
  • #3,136
  • Nov 4, 2020 10:46am Nov 4, 2020 10:46am
hello gents lovely tool with correct settings and correct time to take reading

may i please ask - is c dash stream lined version of mad dash? as sometimes because im running three during high volatile time it will cause my mt4 to run slow ( i also am indicator heavy - I AM NOT CRITISISING WONDERFULL TOOL!!!)

i am just simperply asking if there is some one wiser on the thread to make simple humble sudjestions to me to perhaps help navigate this

many thanks
  • #3,137
  • Nov 5, 2020 5:18am Nov 5, 2020 5:18am
Quoting RoninTheory
... may i please ask - is c dash stream lined version of mad dash?
Hi RoninTheory,

No, it isn't. I've seen that it is also claimed in a video uploaded to this thread that MADdash and csDash are related, but they are not.

In this post, Honestknave (creator of both indicators) explains that csDash is based on Bid Ratio calculations.

MADdash on the other hand is pure price action of individual pairs around a common moving average of your choosing.

For example, look at the 20EMA on the M15 EURUSD chart. At the time of the screenshot, the price was 30 pips above the 20EMA.
Attached Image (click to enlarge)
Click to Enlarge Name: Distance1.png Size: 24 KB


Now look at MADdash and you will see the correlation. MADdash = Moving Average Distance dashboard.
Attached Image (click to enlarge)
Click to Enlarge Name: Pips.png Size: 65 KB



This is a very basic explanation, as there are many more options in MADdash, like not using pip distance, but ADR and ATR distance instead, etc.

Hope this clears up the confusion.

Cheers

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #3,138
  • Nov 5, 2020 1:38pm Nov 5, 2020 1:38pm
Quoting LifeHunt3r
{quote} Hi RoninTheory, No, it isn't. I've seen that it is also claimed in a video uploaded to this thread that MADdash and csDash are related, but they are not. In this post, Honestknave (creator of both indicators) explains that csDash is based on Bid Ratio calculations. MADdash on the other hand is pure price action of individual pairs around a common moving average of your choosing. For example, look at the 20EMA on the M15 EURUSD chart. At the time of the screenshot,...
thankyou lee really kind of you to take the time to put that into an understandable fashion
  • #3,139
  • Nov 30, 2020 2:47am Nov 30, 2020 2:47am
Quick question;

Will MadDash Alerts still funktion if ive turned off the first 2 blocks(so only; m15, m30, h1, h4, d1 are active)?
Reasoning behind this is that in the indi settings it states that it uses this diff between the first 2 time blocks to calculate alerts, what happens if ive disabled those? Do the alarms get shifted to the difference of m15 and m30 in my case or do they still work normally with m1 and m5 diff?

Would be lovely if someone had the answer
  • #3,140
  • Edited 11:39pm Nov 30, 2020 9:09pm | Edited 11:39pm
Quoting honestknave
{quote} I'm looking forward to watching how the trading ideas behind this one develop - I think it has a lot of potential! Many thanks to you for the initial concept of MTF MA distance, and for thoroughly testing the dashboard.
Hi kind @919gilead @honestknave

Thank you so much for programming this, its very good :-)

Will this version still work after 31st Dec 2020?
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