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Help in programming an indicator

  • #1
  • First Post: Jul 10, 2008 5:23am Jul 10, 2008 5:23am
"SMR's short term momentum oscillator is constructed by taking about a 2, 3, OR 4 day moving average of the closing price and subtracting around a 9, 10 or 11 day moving average of the closing price. Subtracting one number from the other will produce either a positive or negative number."

So it'll be an oscillator that can be configured to be a 2/9, 3/10 or 4/11.

Add on a smoothed 15, 16 or 17 day moving average. So this indicator will look like a stochs.

Can anyone please programme this indicator for me? It'll be greatly appreciated.

By the way, this indicator is from Chick Goslin's book. Chick is an excellent trader and we would do well to learn from him.
  • #2
  • Jul 10, 2008 7:10am Jul 10, 2008 7:10am
What you're describing is exactly the MACD, isn't it?

Just use the desired settings, and it will show the difference between the two MAs (fast MA minus slow MA equals MACD main line) and the MA of the difference (MACD signal line).
Dave
  • #3
  • Jul 10, 2008 7:12am Jul 10, 2008 7:12am
Quoting JodyOng
"SMR's short term momentum oscillator is constructed by taking about a 2, 3, OR 4 day moving average of the closing price and subtracting around a 9, 10 or 11 day moving average of the closing price. Subtracting one number from the other will produce either a positive or negative number."

So it'll be an oscillator that can be configured to be a 2/9, 3/10 or 4/11.

Add on a smoothed 15, 16 or 17 day moving average. So this indicator will look like a stochs.

Can anyone please programme this indicator for me? It'll be greatly appreciated.

By the way, this indicator is from Chick Goslin's book. Chick is an excellent trader and we would do well to learn from him.
Just use MACD.

MACD(x,y,z) where x = 2,3,4, y = 9, 10, 11, z = 15, 16, 17

RIPPIN' THEIR PIPS BEFORE THEY RIP MINE
  • #4
  • Jul 10, 2008 7:21am Jul 10, 2008 7:21am
Quoting JodyOng
"SMR's short term momentum oscillator is constructed by taking about a 2, 3, OR 4 day moving average of the closing price and subtracting around a 9, 10 or 11 day moving average of the closing price. Subtracting one number from the other will produce either a positive or negative number."

So it'll be an oscillator that can be configured to be a 2/9, 3/10 or 4/11.

Add on a smoothed 15, 16 or 17 day moving average. So this indicator will look like a stochs.

Can anyone please programme this indicator for me? It'll be greatly appreciated.

By the way, this indicator is from Chick Goslin's book. Chick is an excellent trader and we would do well to learn from him.
what method of MAs do u want for the calculation? Simple moving average, Exponential moving average, Smoothed moving average, or Linear weighted moving average? or would u like to have an option to choose in the input list?
Programming for a better future.
  • #5
  • Jul 10, 2008 10:12pm Jul 10, 2008 10:12pm
Yes it is exactly like a MACD but my MACD comes with a line and a histogram. I'm looking for a MACD with 2 lines and no histogram. And the calculations should be all based on simple moving averages.
  • #6
  • Jul 11, 2008 7:48am Jul 11, 2008 7:48am
Quoting JodyOng
Yes it is exactly like a MACD but my MACD comes with a line and a histogram. I'm looking for a MACD with 2 lines and no histogram. And the calculations should be all based on simple moving averages.
not sure if this is what you're asking for. I merely changed the codes for Custom MACD from Histogram to Line.

STM line is green and use Simple Moving Average
Smoothed line is red and use Smoothed Moving Average
Attached File(s)
File Type: ex4 STM_oscillator.ex4   3 KB | 510 downloads
File Type: mq4 STM_oscillator.mq4   2 KB | 541 downloads
Programming for a better future.
  • #7
  • Jul 12, 2008 1:27pm Jul 12, 2008 1:27pm
Thanks a lot for that Zen. I managed to get it up on my charts and would just like to request a simple change. Is there anyway you can get the charts to show different colors for an up move or down move? Look at the oscillator i posted. The SMA of the 3/10 changes its color depending on its movement.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_034.png Size: 22 KB
  • #8
  • Jul 13, 2008 11:38am Jul 13, 2008 11:38am
Is this it?
Attached File(s)
File Type: ex4 STM_oscillator.ex4   3 KB | 555 downloads
File Type: mq4 STM_oscillator.mq4   3 KB | 563 downloads
Programming for a better future.
  • #9
  • Jul 13, 2008 1:00pm Jul 13, 2008 1:00pm
Yes, thank you so much zen!
  • #10
  • Jul 13, 2008 9:10pm Jul 13, 2008 9:10pm
May I know what the indicator is about?

sonic
  • #11
  • Jul 13, 2008 11:05pm Jul 13, 2008 11:05pm
This indicator is to show intermediate and short term price flows. It is taken off from the book, Trading Day by Day written by Chick Goslin. Google him out. He's a superb trader and if I had gotten this book in my early trading days, I would definitely cut off a few years of study.

Basically this works with a 49 SMA to dictate the trend. If you want to know more, drop me a pm.
  • #12
  • Jul 14, 2008 8:19am Jul 14, 2008 8:19am
Jody,

Here's what I came up with so far.
comparing to your chart, I'm still short of 3 lines. Can you tell me what they are?

you'll need all 3 of my custom indicators attached below.
Attached File(s)
File Type: ex4 STM_Candle_Painter.ex4   5 KB | 581 downloads
File Type: mq4 STM_Candle_Painter.mq4   6 KB | 661 downloads
File Type: ex4 STM_oscillator.ex4   4 KB | 626 downloads
File Type: mq4 STM_oscillator.mq4   4 KB | 753 downloads
File Type: ex4 MA_2_colors.ex4   4 KB | 564 downloads
File Type: mq4 MA_2_colors.mq4   3 KB | 653 downloads
Programming for a better future.
  • #13
  • Jul 14, 2008 8:21am Jul 14, 2008 8:21am
here's some templates to speed things up.

I've set them to the 3 different settings you mentioned in the first post.

Let me know if there's anything missing or incorrect.

Zen
Attached File(s)
File Type: tpl stm_2_9_15.tpl   2 KB | 561 downloads
File Type: tpl stm_3_10_16.tpl   2 KB | 562 downloads
File Type: tpl stm_4_10_17.tpl   2 KB | 527 downloads
Programming for a better future.
  • #14
  • Jul 14, 2008 9:02am Jul 14, 2008 9:02am
No you've got everything here Zen. Good Job! Anyway I guess in order to pay you back for all the wonderful stuff you've done today, I'll summarize how to use this for you.

First thing, point system. If prices are above the 49 SMA, give it a +1. Neutral give it a zero and if prices are below give it a -1. For the oscillator, the ML which is the slower moving line, points are given 2 way. If the line is above 0, give it +0.5, below 0, give it -0.5. If prices are at 0, no score. For the SL, which is the faster moving line, all we want is its direction, if it's pointing upwards, +1, pointing down, -1.

Only add points in the direction of the trend, meaning you don't minus points off the score. +2 is a buy, can buy or can hold. -2 is the opposite. +1.5 to -1.5 is neutral meaning sidelines.

This point system basically let's you know where the trend is in the market. But its not the holy grail. There is a HUGE element of discretion in this. Firstly, you have to anticipate the movements of the 3 lines. For example, 49 SMA might be neutral, but you have to know how the 49 SMA is calculated. 49 days of closing price are taken to make the average. Therefore, if the 49th day or the days at the end are lower than current, you can more or less anticipate the MA to move higher because the previous values are dropped off and the current values added. So far so good?
  • #15
  • Jul 14, 2008 10:03am Jul 14, 2008 10:03am
Attached Image (click to enlarge)
Click to Enlarge Name: jodyong.gif Size: 17 KB


Found this on the net.
RIPPIN' THEIR PIPS BEFORE THEY RIP MINE
  • #16
  • Jul 14, 2008 10:11am Jul 14, 2008 10:11am
Cool beans. Hahaha I can't help but notice my name on that indicator. But the point system is not that important. The key is in knowing how the indicators work and anticipating the movements.

Key laws of Trading by Chick

1. The future is never known
2. Continuation is more likely than change
3. Prices fluctuate.
  • #17
  • Oct 9, 2008 8:48pm Oct 9, 2008 8:48pm
Zen, thanks for the indicators. Appreciate it.

I'm reading Chick's book now also and going to field test the indis to see how they work/compliment my current system.

Will keep you posted here. Thanks for e indicators.

Btw, anyone here have indicators to display the x hours ATR, y days ATR and z weeks ATR as a _number_ on the corner of the screen instead of the typical indicator window type tt comes w MT4?

I know a prop who uses that and pivots to trade. Hit bottom on range for ATR x weeks + near pivots --> he goes long.
One Mind, Any Market
  • #18
  • Jul 9, 2010 2:37pm Jul 9, 2010 2:37pm
Anyone can help? STM indicator STM_oscillator.ex4 (4.1 KB, 38 views)http://cdn.forexfactory.com/images/attach/mq4.gifSTM_oscillator.mq4 (3.6 KB, 58 views)http://cdn.forexfactory.com/images/attach/ex4.gif is not updating in any TF. Can it be fixed? If you can do this please let me know, Greg.
  • #19
  • Jul 10, 2010 12:53am Jul 10, 2010 12:53am
Quoting Cyrus
Zen, thanks for the indicators. Appreciate it.

I'm reading Chick's book now also and going to field test the indis to see how they work/compliment my current system.

Will keep you posted here. Thanks for e indicators.

Btw, anyone here have indicators to display the x hours ATR, y days ATR and z weeks ATR as a _number_ on the corner of the screen instead of the typical indicator window type tt comes w MT4?

I know a prop who uses that and pivots to trade. Hit bottom on range for ATR x weeks + near pivots --> he goes long.

this can be really helpful looking forward to see if some body can programe such indicator.

regards
  • #20
  • Last Post: Oct 7, 2012 5:27pm Oct 7, 2012 5:27pm
Quoting Zen_Leow
what method of MAs do u want for the calculation? Simple moving average, Exponential moving average, Smoothed moving average, or Linear weighted moving average? or would u like to have an option to choose in the input list?
Zen

I am not a programmer. Please, could I ask you to kindly change this indicator (STM_oscillator) so that we could have the option to choose the method of MAs used (EMA, SMA, smoothed, linear-weighted)?

Also, in order to match the concurrent formula of Chick Goslin's method, could you please change the formula of the STM_Candle_Painter so that it paints lime price bars when 1) 49sma is in upslope and 2) slow line of STM_oscillator is in upslope and it paints red price bars when 1) 49 sma is in downslope and 2) slow line of STM-oscillator is in downslope? (Presently, the candle painter paints green bars when price > 49sma and slow line of oscillator is in upslope.)

My thanks if this could be arranged

California
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