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Custom Indicators

  • #1
  • First Post: Apr 22, 2007 9:57am Apr 22, 2007 9:57am
There doesn't seem to be a thread about custom indicators, so I thought I'd start one - (Mods, please feel free to move this if appropriate or attach it elsewhere). I've built a number of them as I learn the ins & outs of the language, and would like to pass on the ones that work, particularly in the hope that folks will point out ways to use/improve/correct them, as well as supply their own. If you decide to post your own, please supply what ever functions (out side the standard library) that are called, so that others can try it out as well; and please, no executables (just mq4 type files). Also, copyleft or public domain preferred...

This one works sort of like Bollinger bands, but tracks the data much more closely since it uses a leading edge estimate rather than an average,(which lags the trend by 1/2 the sampling length). I'm working on improving the computational cost via a Kalman Filter, since as it is it uses a fair number of cycles as it is...The way I use it is to lengthen the number of samples until a trend is apparent (on what ever chart I'm looking at), and use the resulting bands to estimate entry, exits, and stop losses. You can also set the "look ahead" variable to get a straight line estimate of where things going, but I avoid it.....Set the STD levels for either of the two available to 0 if you don't want them plotted.
Attached File(s)
File Type: mq4 GRFLeadingEdge.mq4   6 KB | 837 downloads
  • #2
  • Apr 22, 2007 1:30pm Apr 22, 2007 1:30pm
Can you post a picture of this indicator at work?

Thanks
  • #3
  • Edited 2:00pm Apr 22, 2007 1:53pm | Edited 2:00pm
Quoting WHTenn
Can you post a picture of this indicator at work?

Thanks
Sure, no problem. This was done on the 1 hr $Cad chart, using a 5 day sample time (120 samples), with the blue line set at 2 std's, and the reds at +/- 4 stds. FWIW, the std's a re somewhat different than usual, I try and calculate them separately for points above and below the trend. But that's easy enough to change in the code, if you prefer that...FWIW, you might want to compare it with a BB set at 120 periods, shifted by -60, and an std level of 0.7, which would be (roughly comparable in terms of information usage and width)

http://gammarat.com/Forex/30070420/usdcadlsq.gif
  • #4
  • Apr 24, 2007 5:38pm Apr 24, 2007 5:38pm
I keep asking around to see if someone would make me a custom indicator... but no one has ever answered me !!!
  • #5
  • Edited 9:09am Apr 25, 2007 9:05am | Edited 9:09am
Quoting Tiki Trader
I keep asking around to see if someone would make me a custom indicator... but no one has ever answered me !!!
I guess because we are making our own. You were the poster looking for Renko indicator? If so, I know I can't do it because screen type work is not my cup of tea (mine's math & stats). OTOH, if you know any programming at all, the language is pretty easy to use; and if not I would suggest offering to pay someone (again, not me)....

FWIW, I'm just finishing up a kalman filter indicator that gives results very similar to the one above, but about 100 times faster (assuming that the averaging is done on about 120 points), and (for good or bad) more flexible. The speed up should (eventually) make for better estimates of the likelihood intervals (which are what BB are a rough approximation of), and better estimates of price velocity and acceleration, which are important components of risk-return estimation. I'll post the code once it's cleaned up, if there is any interest. Anyway, below is a sample output.

http://gammarat.com/Forex/30070420/usdcadkalman.gif
  • #6
  • Apr 25, 2007 9:45am Apr 25, 2007 9:45am
I sincerely wish I could make my own... but I have looked into it and can easily see it isnot something I can do...

I want an indicator which will turn candles a different color when price goes overbought or oversold on slow stoch... or would put a dot over the candles if we can't get them to change color...
  • #7
  • Apr 25, 2007 11:13am Apr 25, 2007 11:13am
Quoting Tiki Trader
I sincerely wish I could make my own... but I have looked into it and can easily see it isnot something I can do...

I want an indicator which will turn candles a different color when price goes overbought or oversold on slow stoch... or would put a dot over the candles if we can't get them to change color...
I don't use stochastics - I assume that the MT stochastic indicator is the basis for what you look at when you run it, and that the signal line is what you look at (being above or below, say, 80 and 20? if so, I'll see what I can do this weekend, it might be an interesting little exercise in handling objects. (but I have a lot of work to do before I can get around to it. )
  • #8
  • Apr 26, 2007 6:00am Apr 26, 2007 6:00am
Thank you !!! I would sincerely appriciate it !!!!!
  • #9
  • Apr 28, 2007 9:50am Apr 28, 2007 9:50am
Well, I'm starting on it now - but don't expect fast turnaround
Question (since I don't use stochastics, so apologies if these questions sound dumb) - the overbought indicator should go on when the slow stochastic is over 80 and the fast crosses from below it to above it, and the oversold stochastic should go on when the the slow stochastic is under 20 and the fast crosses it from above? (If I am reading Murphy's book right)
  • #10
  • Apr 28, 2007 11:38am Apr 28, 2007 11:38am
Tiki Trader - I've attached a prototype because I want to check my logic before I go and put on the actual objects. One is the source code, the other is compiled. I really prefer sending only source code (as it avoids possible virus issues), but if you prefer the compiled version it's there as well. Put them in your "experts\indicators" folder, and give them a try, as follows:
1)Open a stochastic oscillator window, set to the parameters you like (except the price field and the averaging type, which should be "High/Low" and "Simple")

2) Drag & drop GRFStochastic01 (which should appear in the "Custom Indicators" subfolder ) into the stochastic oscillator window, and set the parameters to the same that you have in the regular window. I haven't set the price field and averaging type yet as something to modify.

3)You should get a (red, default) line that is generally flat, but spikes to 100 in the oversold state, and 0 in the overbought state. Does this conform to what you are looking for? If so, I can change the code to put objects like arrows or rectangles on the main screen. But if the algorithm isn't producing spikes when you think they should, pls let me know. It's easier to fix now than later.
Cheers;
CB
Attached File(s)
File Type: mq4 GRFStochastic01.mq4   3 KB | 703 downloads
File Type: ex4 GRFStochastic01.ex4   3 KB | 621 downloads
  • #11
  • Apr 28, 2007 12:13pm Apr 28, 2007 12:13pm
I have installed the indicator... let me check it out a little... I am sorry I am having guests today at my house and will not have much time to look at it... I will try to reply better this evening or tomorrow
I do SINCERELY appriciate your time !!!
  • #12
  • Apr 28, 2007 12:21pm Apr 28, 2007 12:21pm
Not a problem - these things give me a chance to learn more about the language. Enjoy your guests; they're more important!
  • #13
  • Apr 28, 2007 1:10pm Apr 28, 2007 1:10pm
Quoting HalifaxCB
Not a problem - these things give me a chance to learn more about the language. Enjoy your guests; they're more important!
i say down with the guests, kick them out to the curve and check out your indicator instead.

guests? sounds more like pests to me. tell me this, can any of those guests create a customized indicator for you if you asked them.

i don't think so.
BAM BAM BOOM! -bravado
  • #14
  • Apr 28, 2007 1:50pm Apr 28, 2007 1:50pm
Quoting bravado
i say down with the guests, kick them out to the curve and check out your indicator instead.

guests? sounds more like pests to me. tell me this, can any of those guests create a customized indicator for you if you asked them.

i don't think so.

Lol... That tends to be my view, but it's not very politically correct
  • #15
  • Apr 29, 2007 1:19pm Apr 29, 2007 1:19pm
In the next couple of posts I will show you what I have when I donwload your indicator...

I will also ask that if you can send PM me your e mail address I can send you a file which will actually give you a clear example of what I need... it is a template similar to one that Rob Booker uses on xtick which is a platform similar to mt4

While what you have sent me is not the same as what I was really looking for, we might be able to make what you have done work for me... remember I know nothing about how you did what you did, so I have no idea how to ask for it to be different... best way is to really show you which means I need to send you an e mail file... or can we send PDF files here ?? I will try to send it here... lets see...
  • #16
  • Apr 29, 2007 1:21pm Apr 29, 2007 1:21pm
Here is a chart with the indicatoe you posted...
Attached Image
  • #17
  • Apr 29, 2007 1:23pm Apr 29, 2007 1:23pm
This is a PDF file from Rob Bookers daily updates... here you will find charts which he gets from xtick and a template made just fro him... I can do all the ma's no problem... but you will see that the candles on the charts change collors as the stoch goes from oversold or overbought and back again.. this is what I want to do in MT4
Attached File(s)
File Type: pdf xtick.pdf   134 KB | 734 downloads
  • #18
  • Apr 29, 2007 1:30pm Apr 29, 2007 1:30pm
Your indicator actually would be ok for me IF... the spike would begin as soon as the first stoch signal line goes oversold or overbought at 20, 80... and the return to the middle point exactly when the the one of the stoch signal lines come out of overbought or oversold... I would imagine that instead of spikes, we would then have more of a square pattern.

You will have to forgive me for my complete lack of knowledge of how to do any of this... !!!

Thanks again for all your time on this !!!

Yeah I would have prefered not to have guests yesterdau, but it was a sister that I have not seen in almost 20 years !!! And she was just passing through town for one day... no choice there for me !!!
  • #19
  • Apr 29, 2007 3:55pm Apr 29, 2007 3:55pm
Id be grateful if someone could code the following

1. a userdefined timezone convertor indicator for mt4. This would save everyone having to convert in their head, the difference between their local time and the time of the mt4 broker server they use



2. a range bar indicator. Range bars are not dependent on time but on depth of price action

eg. if the user sets the range bar to be 10, then after every 10 pip, a new candlestick bar is created. The length of time taken to create the bar doesnt matter. So if eurusd moved up from 100, to 110 in 1minute, then one candlestick bar would be completed. If eurusd moved up from 100, to 110 in 5 hours, then again only one candlestick bar would be completed.
another INTP
  • #20
  • Apr 29, 2007 9:38pm Apr 29, 2007 9:38pm
Quoting Tiki Trader
Your indicator actually would be ok for me IF... the spike would begin as soon as the first stoch signal line goes oversold or overbought at 20, 80... and the return to the middle point exactly when the the one of the stoch signal lines come out of overbought or oversold... I would imagine that instead of spikes, we would then have more of a square pattern.

You will have to forgive me for my complete lack of knowledge of how to do any of this... !!!

Thanks again for all your time on this !!!

Yeah I would have prefered not to have guests yesterdau, but it was a sister that I have not seen in almost 20 years !!! And she was just passing through town for one day... no choice there for me !!!

That's cool it's just a learning experrience for me. BTW I just emailed you my address. I just wanted to know if the peak of the spikes line up with where you would expect the signals to be, if so, then I don't have to do any more reading about stochs & can put on the coloured bars, or what ever.

Cheers;
CB
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