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  • #201
  • Dec 19, 2020 11:45am Dec 19, 2020 11:45am
Hi,

No worries - as long as the indicator works the colors don't matter. As I have quite subtle colored template, Trix colors ensure I don't miss a thing

Take care,
I

Quoting robots4me
{quote} @Ilvez -- you're right. Since there are no Input settings then the Input dialog doesn't include 'Save' and 'Load' buttons. The best I can suggest is to use a template to change the background color -- which will persist across symbol changes. I understand it's not the same as changing line colors, but perhaps there's a background color that makes the line colors more suitable for your viewing.
  • #202
  • Dec 20, 2020 4:32am Dec 20, 2020 4:32am
Quoting robots4me
{quote} @RiskFighter... 3......looks at patterns highlighted by his / her indicators. takes a pee, thinks about it a bit more, and then decides whether to press a button.
My trading loop

  1. Look at the pattern
  2. Think about it a bit more
  3. TAKE A PEE (the detachment from money and emotions)
  4. Repeat step 2 & 3 for as long as required
  5. Decide whether to press a button
  6. Press the button
  7. Back to step 1

  • #203
  • Jan 2, 2021 11:31pm Jan 2, 2021 11:31pm
Quoting robots4me
OnTick() versus OnTimer() Every indicator must implement an event handler that kicks-off its computation and chart display. By far the most common is OnTick(). The way it works is whenever there is a new tick (i.e. change in price) then MT4 calls the indicator's OnTick() routine and the indicator repeats its computations and chart markings. There is no guarantee when new ticks will arrive (with one exception). There may be several per second or only once per hour -- it depends on the pair, trading session and time of day, news, etc. As an aside...
Well explained the difference between the two. Thank you.
Can you please also explain how the two handle slippages, control over time to allow or disallow trailing stop becoming effective? Which is good to thwart plug-ins run by both brokers and liquidity providers to play with slippages and manipulate buying and selling?
Practice makes a person perfect
  • #204
  • Jan 3, 2021 4:06am Jan 3, 2021 4:06am
Quoting simnz
{quote} Well explained the difference between the two. Thank you. Can you please also explain how the two handle slippages, control over time to allow or disallow trailing stop becoming effective? Which is good to thwart plug-ins run by both brokers and liquidity providers to play with slippages and manipulate buying and selling?
Hello @simnz -- I can't give you a precise answer, but I can throw some comments at the wall and perhaps you can then decide which ones stick...

(1) Though OnTick() and OnTimer() also apply to EAs, I've been discussing indicators in this thread. So -- in the context of indicators -- which don't trade -- then slippage and trailing stops don't apply.

(2) OnTick (in EAs) and OnCalculate (in indicators) and OnTimer (in both) are "callback" functions that are implemented by the programmer. MT4 calls OnTick or OnCalculate whenever there is a new Tick (price change) or at the beginning of a new time interval. Windows calls OnTimer at the time interval specified by the coder.

(3) These callback functions execute within a thread (indicator or EA) that runs within the MT4 executable.

(4) When you press MT4's BUY or SELL buttons those commands are sent immediately from your machine, out your network adapter, to your ISP, out to the cloud, and eventually make their way to your broker's machine and software. In terms of latency there is a lot that can happen along the way that have nothing to do with OnTick and OnTimer. And once the requests reach your broker's machine and software there is also a lot that can happen that is unrelated to OnTick and OnTimer.

(5) The same can be said of trailing stops. When the EA sends a command it gets sent immediately from MT4 out your machine's network adapter. But from that point you are at the mercy of your personal network, your ISP, the cloud, broker's network, broker's machine, broker's software. And if your teenage son is playing interactive video games at the same time then your network connectivity will also suffer.

To summarize -- I wouldn't worry about it, at least I don't. The bottleneck will always be the bandwidth of your home network, your ISP, and then the Internet. If every millisecond is truly critical to your trading, then I would suggest trading from a VPS from a well-known company. MT4 performance on a VPS usually suffers, but the benefit is network reliability and connectivity when the VPS is located in a data center with fiber optic connectivity to the cloud. Sending BUY and SELL commands do not use OnTick, OnCalculate, OnTimer -- so how an indicator or EA is architected shouldn't have an affect on slippage. It could have an affect on trailing stops depending on how that was coded -- but the programmer would really have to try hard to screw it up.
  • #205
  • Jan 6, 2021 3:29am Jan 6, 2021 3:29am
R4M-SynergyProTDI Indicator

This indicator is one that I use for discretionary trading. It is a combination of TDI and Stochastics, but displaying the results a bit differently. Turns out that when you chart the same data in different ways then certain patterns may appear that you might have missed before.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-SynergyProTDI-2.png Size: 136 KB


In the screen shot above I've labeled the 3 types of markings -- TDI, TDI Histogram and Stochastics Trend. TDI and TDI Histogram, as you might guess, use the TDI algorithm. Stochastics Trend uses the Stochastics algorithm.

To minimize CPU and memory consumption, I've limited the indicator to use a max of 500 data points. When you first attach the indicator you may need to scroll all the way to the right-hand side of the chart to see the markings.
I shouldn't need to say this, since by now most everyone should understand that an indicator is a tool and is only as good as the hands using it. This indicator does NOT display BUY or SELL signals -- it merely displays clues. Despite their fancy names -- the most common indicators all use some form of moving average, which is simple algebra. @BWilliam summarized it best in another thread: "Well calibrated MAs have the potential to mark price levels as statistical averages where price might react." In other words the markings represent a clue where price might travel -- a "best guess" based on probability. There is no guarantee that future price will match with what the indicator is guessing. That's where your brain comes in. That's why it's called "discretionary" trading.

Attached File(s)
File Type: ex4 R4M-SynergyProTDI.ex4   74 KB | 269 downloads
  • #206
  • Jan 6, 2021 3:37am Jan 6, 2021 3:37am
R4M-SynergyProTDI Indicator (continued)

This next screen shot explains the Stochastics Trend portion of the R4M-SynergyProTDI indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-StochTrend-MTF-2.png Size: 145 KB


In the background you can see the Stochastics indicator (8,3,3), and in the foreground the Stochastics Trend markings -- the blue and purple dots. The Stochastics indicator is just another type of moving average indicator and is often referred to as an "oscillator" type of indicator -- in other words, it oscillates up and down. That is, it trends up and down. Hence, the Stochastics indicator is often used to guess price direction.

(1) The BLUE dots indicate that the stochastics indicator is oscillating (i.e. trending) upward.
(2) The PURPLE dots indicate the stochastics indicator is oscillating (i.e. trending) downward.
  • #207
  • Jan 6, 2021 3:40am Jan 6, 2021 3:40am
R4M-SynergyProTDI Indicator (continued)

In the screen shot below I'll briefly explain the TDI histogram:

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-SynergyProTDI-2.png Size: 136 KB


When the green TDI line crosses the red TDI line upwards and their separation increases, then BLUE vertical lines are drawn. Similarily, when the green TDI line crosses the red TDI line downwards and their separation increases, then PURPLE vertical lines are drawn.

There is nothing special going on -- the same, old green-crosses-red. All I have added are additional markings so that at a glance -- even from a distance -- you can tell there has been a crossing. And then it is up to your discretion whether or not to include this clue with other clues you have been collecting and decide whether or not to push the BUY / SELL button.
  • #208
  • Jan 6, 2021 3:41am Jan 6, 2021 3:41am
R4M-SynergyProTDI Indicator (continued)

And, finally, if your brain can handle it -- everything on one chart -- TDI, TDI Histogram, Stochastics, Stochastics trend. When the markings align then that is a clue that probability is on your side.

Attached Image (click to enlarge)
Click to Enlarge Name: One-chart.png Size: 167 KB
  • #209
  • Jan 6, 2021 4:12am Jan 6, 2021 4:12am
R4M-BBMACD Indicator:

The BBMACD have been around for awhile and it has been proposed that BBMACD (2,13,7) could be a nice substitute for TDI. I'm sharing a modified version of BBMACD that some may find easier to use and more reliable.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-BBMACD-vs-TDI.png Size: 43 KB


The screen shot shows the price chart on top, the TDI RT Clone indicator in the middle, and the BBMACD indicator below. The red and green lines and the crossings that you see in the TDI and BBMAC are, for all intents and purposes, identical. With the BBMACD you also see the blue and purpose dots, which indicate direction. Often times the transition from blue-to-purple or purple-to-blue occurs before a crossing -- this is yuuuuge. Entering or exiting a trade a bar or two earlier than TDI can make a big difference.

Attached File(s)
File Type: ex4 R4M-BBMACD-v1.00.ex4   55 KB | 194 downloads
  • #210
  • Jan 6, 2021 4:17am Jan 6, 2021 4:17am
R4M-BBMACD-v1.00 Indictor (continued)

I'm sharing an updated version of my modified version of the BBMACD indicator. I've added arrows to show the transitions from bullish-to-bearish and bearish-to-bullish trends. The arrow markings, along with the blue and purple dots, provide directional clues -- similar to Stochastics. By combining red-green crossings plus directionality in the same indicator then it becomes easier to identify where the algorithms align and to make your discretionary decsion whether to open a BUY or SELL position.

The screen shot below shows the R4M-BBMACD indicator in the middle and the TDI indicator in the lower subwindow, for comparison.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-BBMACD-arrows.png Size: 48 KB


In addition to fewer "head fakes", BBMACD does NOT repaint nor does it require "refreshing" as @Tekkies consistently complains about and which she claims plagues her use of TDI.

Attached File(s)
File Type: ex4 R4M-BBMACD-v1.00.ex4   55 KB | 295 downloads
  • #211
  • Jan 6, 2021 4:19am Jan 6, 2021 4:19am
R4M-BBMACD-v1.00 Indictor (continued)

The screenshot below shows another comparison of BBMACD versus TDI. In the middle chart I've overlayed Stochastics (8,3,3) on top of R4M-BBMACD. You can see that the blue and purple dots correspond with the slope of the Stochastics indicator and signify direction. By combining these indicators in a single chart it becomes much easier to spot when they align.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-BBMACD-Stochastics.png Size: 61 KB


The red vertical lines that I've manually marked show significant red-green crossings. You can see they are consistent with the transition arrows and may provide sufficient confirmation to enter a bar or two earlier than you would using just TDI -- though that is for your discretion to decide.

And for comparision purposes I've included the TDI indicator in the bottom chart.
  • #212
  • Jan 6, 2021 4:24am Jan 6, 2021 4:24am
R4M-BBMACD-OnChart Indicator

This is a new indicator -- a variation of R4M-BBMACD. The R4M-BBMACD-OnChart indicator uses the same code but displays its markings on the main price chart. Depending on how you like to organize your charts and indicators, this may offer some advantages. Whereas the R4M-BBMACD indicator uses blue and purple dots to denote direction, the R4M-BBMACD-OnChart indicator uses blue and purple lines. The blue and purple arrows denote transitions between trends.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-BBMACD-OnChart.png Size: 65 KB

In the screenshot above the upper price chart shows the R4M-BBMACD-OnChart indicator, the middle chart is the R4M-BBMACD indicator and, for comparison, the lower chart is TDI.

Attached File(s)
File Type: ex4 R4M-BBMACD-OnChart-v1.00.ex4   56 KB | 247 downloads
  • #213
  • Jan 6, 2021 4:28am Jan 6, 2021 4:28am
R4M-TDI-RT-OnChart Indicator

Another new indicator. This one is still a work in progress, but I think it holds a lot of potential. It is based on the non-repainting TDI-RT-Clone indicator. I've modified and rescaled the visual markings to display on the main price chart. When TDI is overlayed on a price chart it provides another clue for your decision making. When TDI is displayed in a subwindow you have no price context -- other than glancing up and down and using the mouse cursor to figure out where in the price chart the TDI markings correspond. But with the TDI markings now overlayed on top of the price chart you now have that additional context in which to evaluate TDI crossings. Plus -- it gets even more interesting, as I'll show in a subsequent post.

The screenshot below shows the R4M-TDI-RT-OnChart indicator in the upper price chart, and the TDI-RT-Clone indicator in the subwindow -- for comparison purposes.

Attached Image (click to enlarge)
Click to Enlarge Name: R4M-TDI-RT-OnChart.png Size: 63 KB

Attached File(s)
File Type: ex4 R4M-TDI-RT-OnChart-v1.00.ex4   58 KB | 249 downloads
  • #214
  • Jan 6, 2021 4:29am Jan 6, 2021 4:29am
R4M-TDI-RT-OnChart Indicator (continued)

Check-out the screenshot below -- I've overlayed the R4M-BBMACD-OnChart indicator on top of the R4M-TDI-RT-OnChart indicator. Once you get past the fact it looks like a Christmas tree, there are several clues here to be gleened in a single glance. Plus, the visual markings are displayed in the context of the price chart.

The two red rectangles highlight two TDI crossings I wanted to point out. You can see the purple arrows prior to the down-crossings. This is yuuuge...

The purple and blue arrows come from BBMACD and provide directionality clues. When trading in real-time TDI often presents "head-fakes" -- these are crossings that subsequently turn out not to be crossings. But you learn that only after-the-fact. The combination of BBMACD plus TDI-RT on a price chart can provide those additional clues that make discretionary trading decisions a bit more easy on the brain.


Attached Image (click to enlarge)
Click to Enlarge Name: R4M-TDI-RT-OnChart-Plus--BBMACD-OnChart.png Size: 61 KB
  • #215
  • Jan 6, 2021 5:05am Jan 6, 2021 5:05am
@rosalieone recently wrote to me reporting a bug in the R4M-ADRIndi indicator -- which I subsequently fixed. And during the course of fixing the bug it rekindled some fond memories from the "MM (Money Maker) Detective Indicator (https://www.forexfactory.com/thread/911239-mm-money-maker-detective-indicator?)" thread -- in particular, how much I like and still lean on ADR. In the past, @rosalieone has shared some interesting and innovative observations about ADR.

I've recently begun to migrate from H4 trading to D1 -- partly because it seems to better suited for the strategies I'm currently working on and, also, because there is an inherent connection between D1 and ADR. ADR is one of the few, in any, metrics you can really touch and hold in your hand. There really is an ADR. You may think the markets run 24/5, but they really don't. That is, retail traders can trade 24/5, but banks and financial institutions open at 8a and people go home at 5p. Though you can still trade during off-hours, the majority of trading occurs during business hours. That's why the ADR repeats itself -- banks open, people work a few hours, banks close. Same thing every day.

Attached Image (click to enlarge)
Click to Enlarge Name: ADR-plus-Nihilist.png Size: 56 KB

The screen shot above marks the ADR over a period of several days on an H4 chart. In the subwindow I display a modified version of one of Nihilist's indicators. The vertical red lines show where a Nihilist green or red dot intersects the broker's 00:00. Actually, as I look more closely, for this broker it looks like the ADR begins at 20:00. Anyways, pretend it's 00:00. Every time the green or red dot predicts the correct, initial price direction I've placed a W (for "win"). I marked 9 intersections -- all 9 are "winners".

When we enter trades during the London or New York sessions we can be anywhere within the ADR. But when we enter trades at the beginning of the ADR -- actually, at broker's 00:00, we only need to get the initial direction correct for a short period (to bank a few Pips), and thereafter we don't care since we are out for the rest of the day. That's the added "edge" -- we only need to be correct the FIRST 2 hours. We are protected the other 22 hours (because our trades are closed). This also has the advantage of almost zero DD at the end of the day -- I believe -- though I need to trade this a bit longer to say for sure. Since broker's 00:00 occurs during Sydney or Tokyo sessions then there seems to be a tendency to hold that initial direction without head fakes.

A while ago I blocked discussion on this thread by only allowing "High Impact" members to comment. I'll try unblocking to see what kind of, if any, discussion unfolds. But I reserve the right to block it again.

Attached File(s)
File Type: ex4 R4M-ADRIndi.ex4   60 KB | 328 downloads
  • #216
  • Jan 7, 2021 3:26am Jan 7, 2021 3:26am
Quoting robots4me
@rosalieone recently wrote to me reporting a bug in the R4M-ADRIndi indicator -- which I subsequently fixed. And during the course of fixing the bug it rekindled some fond memories from the "MM (Money Maker) Detective Indicator (https://www.forexfactory.com/thread/911239-mm-money-maker-detective-indicator?)" thread -- in particular, how much I like and still lean on ADR. In the past, @rosalieone has shared some interesting and innovative observations about ADR. I've recently begun to migrate from H4 trading to D1 -- partly because it...
Thanks Bro. You are never selfish with sharing profitable information like this. God bless you richly Sir and a happy and profitable new year 2021 to you.
  • #217
  • Jan 7, 2021 2:08pm Jan 7, 2021 2:08pm
Quoting robots4me
@rosalieone recently wrote to me reporting a bug in the R4M-ADRIndi indicator -- which I subsequently fixed. And during the course of fixing the bug it rekindled some fond memories from the "MM (Money Maker) Detective Indicator (https://www.forexfactory.com/thread/911239-mm-money-maker-detective-indicator?)" thread -- in particular, how much I like and still lean on ADR. In the past, @rosalieone has shared some interesting and innovative observations about ADR. I've recently begun to migrate from H4 trading to D1 -- partly because it...
I have been an avid ADR user. Your findings about US market hours tally with my own performance from ADR trading. I must concede earlier I could not connect my trading between 18:00 to 23: 10 for indices with US office hours. Now your finding makes complete sense to me.

You may be able to convert the existing indicator into a sort of visual backtester by allowing three more short lines , in addition to existing open yellow line, for (a) entry ADR level (b) TP ADR level (c) SL ADR Level and by providing Start and end trading hours . Statistics may be printed as comments and Vlines may be printed from Start and end trading hours.

I start trading based at 50% ADR with 23% TP on short side side and 67% TP on long side.
Can you please share your ultratrend histogram indicator?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: ADR backtester visual.jpg Size: 472 KB
Practice makes a person perfect
  • #218
  • Edited Jan 8, 2021 4:10am Jan 7, 2021 2:20pm | Edited Jan 8, 2021 4:10am
Quoting simnz
{quote} I have been an avid ADR user. Your findings about US market hours tally with my own performance from ADR trading. I must concede earlier I could not connect my trading between 18:00 to 23: 10 for indices with US office hours. Now your finding makes complete sense to me. You may be able to convert the existing indicator into a sort of visual backtester by allowing three more short lines , in addition to existing open yellow line, for (a) entry ADR level (b) TP ADR level (c) SL ADR Level and by providing Start and end trading hours . Statistics...
@simnz -- this is great -- thank you. I have to think more about the additional lines -- if I do add them I will post the modified indicator.

The Ultratrend indicator is a modification of Nihilist's Ultra Trend indicator.
  • #219
  • Edited 5:10am Jan 8, 2021 4:57am | Edited 5:10am
Quoting robots4me
That's the added "edge" -- we only need to be correct the FIRST 2 hours.
Hello, I have to say many thanks for your indicators. They are extremely useful, at least for me. If about ADR/Daily open idea, I remember that almost similar strategy was discussed on one of Russian forex forums some years ago. The idea was to enter the market in accordance with the first 4H candle of the day. In this case, the direction is unknown at 00.00, you have to wait till 4 AM. Bullish candle - then open buy. Bearish - open sell. It worked better for JPY pairs.
  • #220
  • Jan 8, 2021 5:14am Jan 8, 2021 5:14am
Quoting Loqito
{quote} Hello, I have to say many thanks for your indicators. They are extremely useful, at least for me. If about ADR/Daily open idea, I remember that almost similar strategy was discussed on one of Russian forex forums some years ago. The idea was to enter the market in accordance with the first 4H candle of the day. Bullish candle - then open buy. Bearish - open sell. It worked better for JPY pairs.
@Loqito -- thanks for the good word about the indicators.

And about the ADR / Daily open idea -- that's very, very interesting to learn it has been discussed before. That gives me even more confidence there is something to it. And the fact it would work better on JPY pairs kind of makes sense. Most ADR indicators begin their computation at broker's 00:00 time -- and for GMT+0, GMT+1, and GMT+2 brokers (which almost all are), then their 00:00 time would occur early in the Tokyo session.

@Loqito -- thank you...
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