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MTF Fractal Channel indicator Programming Help

  • #1
  • First Post: Jun 19, 2010 10:17am Jun 19, 2010 10:17am
Hi I have been looking into diagonal Fractal channels and was wondering if some one can help modify a indicator to extend the the channel trend lines as they are cut of when a new fractal appears. This does not help in using the trend line as a future S&R point.

I have the attached F-channel and a MTF fractal indicator and have attached some screen shots to show what would make this a better indicator.

Also to really trade of these S&R lines you would need to make this indicator a MTF. So that you can pull up a 5 min chart and have the 1hr and 4 hr extended trendlines to trade of.

Please see the example screen shots and any programming assitance you can provide will be much appreciated. I think many traders would find this indicator useful.

one last Feature that would make this really good is that Fractal trendlines are only drawn after the 5th candle and for backtesting it would be great to have that trendline a different colour after that point. So for example the trendline connecting the points can be a blue colour and the extended part of the trendline be another e.g orange.

Once we have the indicator developed we can progress on how to trade of these S&R points even though there are many threads on Trading S&R.

Hope some one can help. As it gets a bit tedius drawing these lines.

Byn
Attached Image(s) (click to enlarge)
Click to Enlarge Name: f-channel example.gif Size: 28 KB
Click to Enlarge Name: f-channel lines extended.gif Size: 35 KB
Click to Enlarge Name: f-channel 5min lines extended.gif Size: 35 KB
Attached File(s)
File Type: mq4 F-Channel.mq4   3 KB | 2,707 downloads
File Type: mq4 MTF_Fractals.mq4   3 KB | 3,552 downloads
  • #2
  • Jul 2, 2010 7:21am Jul 2, 2010 7:21am
Hi Byn

Maybe this is what you want. All I've done is set the trend line ray property to true... this extends the lines infinitely... (looks a mess! ).

Hope this helps anyway.

David
Attached File(s)
File Type: mq4 F-Channel(RAY).mq4   4 KB | 2,091 downloads
  • #3
  • Jul 2, 2010 12:58pm Jul 2, 2010 12:58pm
Here's a poor attempt at simulating MTF until a real programmer comes along... EU 15m looks interesting...

(thicker lines are older fractal channels)

David
Attached File(s)
File Type: mq4 F-Channel(RAY)MTF.mq4   4 KB | 1,899 downloads
  • #4
  • Jul 2, 2010 2:44pm Jul 2, 2010 2:44pm
Quoting d-Squared
Here's a poor attempt at simulating MTF until a real programmer comes along... EU 15m looks interesting...

(thicker lines are older fractal channels)

David
Hey thanks for trying. At least we can use the 4hr and just zoom in, maybe not scale down the chart quite yet.. yeah i had a look at the 15 min. and did a screen shot.. not sure if the lines from indi are correct but it would have picked todays top..lol ..

I see theres actually some people down loading this mess.. haha.. but its a good work in progress.. good job..

Just a note for everyone whos interested, im just trying to make a indicator that will help in displaying diagonal trend lines, like the many horizontal S&R's you see about. the only ones i found was demark and mousi%^& but they only display the last trend lines. with this indi you will be able to select how many you want in the parameter..

All the best..

Byn
Attached Image (click to enlarge)
Click to Enlarge Name: mtf fractal.gif Size: 16 KB
  • #5
  • Jul 2, 2010 3:16pm Jul 2, 2010 3:16pm
Quoting d-Squared
Here's a poor attempt at simulating MTF until a real programmer comes along... EU 15m looks interesting...

(thicker lines are older fractal channels)

David
Hi D-Square- I Appreciate your help with the fractal indicator. As you can program it would be good to team up with someone to help me with my trading Ideas/strategy's. obviously if you think there shit then you can just say im not wasting my time on that crap. but if your interested then maybe we can work on it together.

Anyhow, I basically trade of horizontal S&R levels inc EMA's and with price action. and a part of S&R levels are obviously diagonal trend lines. That is why i requested that indicator, for a quick reference to see where price is to the Diagonal Trend line or shall i says Linesssssssss..lol.. im only using it as a guide.. but anyway that comes later.

Ive been very interested in the MW system lately but
especially in the close of the bar price. Basically we trade a MW price close pattern of a S&R level. have a look at todays chart.. and we take it from there..
Attached Image (click to enlarge)
Click to Enlarge Name: mw price close.gif Size: 27 KB
  • #6
  • Edited Jul 3, 2010 12:12am Jul 2, 2010 10:39pm | Edited Jul 3, 2010 12:12am
Quoting Byn
Hi D-Square- I Appreciate your help with the fractal indicator. As you can program it would be good to team up with someone to help me with my trading Ideas/strategy's. obviously if you think there shit then you can just say im not wasting my time on that crap. but if your interested then maybe we can work on it together.

Anyhow, I basically trade of horizontal S&R levels inc EMA's and with price action. and a part of S&R levels are obviously diagonal trend lines. That is why i requested that indicator, for a quick reference to see where price...
Hey Guys,

I use a very similar idea....

This is my MTF Fractal indicator picture shows. Fractals become bigger and darker edged as the timeframe of the fractal increases. There are better ways of placing the fractals object position, I just don't know them.
Attached Image (click to enlarge)
Click to Enlarge Name: MTF Fractals.jpg Size: 62 KB




Not to sideline you or anything.....
But with FractalChanel indicator... What I found is that on the upper fractal channel (your red lines), if those trendlines are sloping upwards they are rarely useful later on.
The reverse is true also on the down channel (you green lines) if those are sloping downwards they are rarely useful.

This is partly because they don't come into play, and other times quotes just ignores them.

As a result I only want the redlines that are horitzontal or pointing downwards, and the green lines that are horizontal or pointing upwards.

So I use the below trendline indicators to produce trendlines. However these indicators don't identify 1H fractal and 4H fractal, they identify a 25 bar low or high and 97 bar low or high. This works on the 5 minute timeframe only....

However, delete the indicator once applied, and the lines stay there afterwards.
Deleting allows your platform to run more efficiently as these indicators chew up memory and also allows you to change timeframes without NEW trendlines being recalculated by the indicator (if it was fractal based instead of bar based this last bit would not occur).

Also the 25 bar low is 24 bars plus 1 either side of a high, which on the 5 minute chart is 2 hours + 1 bar. As a result this sometimes finds the 30min fractal instead of 1 hour fractal. The trendlines produced can still be useful.
Attached File(s)
File Type: mq4 MTF Fractals_M5_to_H1_TF.mq4   11 KB | 2,546 downloads
File Type: mq4 MTF Fractals_M15_to_H4_TF.mq4   11 KB | 2,320 downloads
File Type: mq4 MTF Fractals_M30_to_D1_TF.mq4   11 KB | 2,092 downloads
File Type: mq4 MTF Fractals_H1_to_W1_TF.mq4   11 KB | 2,257 downloads
File Type: mq4 1_Hr_MoutekLineNextGen.mq4   21 KB | 1,885 downloads
File Type: mq4 4_Hr_MoutekLineNextGen.mq4   21 KB | 1,836 downloads
  • #7
  • Jul 3, 2010 2:28am Jul 3, 2010 2:28am
Quoting Byn
Hi D-Square- I Appreciate your help with the fractal indicator. As you can program it would be good to team up with someone to help me with my trading Ideas/strategy's. obviously if you think there shit then you can just say im not wasting my time on that crap. but if your interested then maybe we can work on it together.

Anyhow, I basically trade of horizontal S&R levels inc EMA's and with price action. and a part of S&R levels are obviously diagonal trend lines. That is why i requested that indicator, for a quick reference to see where price...
OK, you've lost me. What's the MW system and where are the M's and W's you're talking about?

I don't want you getting the wrong idea. I'm no programmer - but I can usually do a quick mod of something that already exists to get what I'm after.

David
  • #8
  • Edited 4:05am Jul 3, 2010 3:00am | Edited 4:05am
Quoting aquaart
Hey Guys,

But with FractalChanel indicator... What I found is that on the upper fractal channel (your red lines), if those trendlines are sloping upwards they are rarely useful later on.
The reverse is true also on the down channel (you green lines) if those are sloping downwards they are rarely useful.

This is partly because they don't come into play, and other times quotes just ignores them.

As a result I only want the redlines that are horitzontal or pointing downwards, and the green lines that are horizontal or pointing upwards.
I've also done a reverse of what you talked about just in case...

David
Attached File(s)
File Type: mq4 F-Channel(RAY)MTFa.mq4   4 KB | 1,744 downloads
File Type: mq4 F-Channel(RAY)MTFar.mq4   4 KB | 1,627 downloads
  • #9
  • Jul 3, 2010 5:57am Jul 3, 2010 5:57am
[quote=aquaart;3848514]Hey Guys,

I use a very similar idea....

This is my MTF Fractal indicator picture shows. Fractals become bigger and darker edged as the timeframe of the fractal increases. There are better ways of placing the fractals object position, I just don't know them.
Attachment


Hi Aquaart, Thanks for the indi's. I checked the 5 min on 1 hour fractal and then i placed the the MTF fractal on a 1 hour setting. i found that as you explained the fractuals are not true fractals but are very close. id say a good 90+% correct. Now as the MTF fractal indi i posted does not truly pick the bar at top of the fractal it is difficult to modify it to draw a trend line. and if it does not use the top of the correct bar, the trend line will be slightly out.

(this may sound confusing so draw a trend line on 2 connecting 4 hour fractals, now drill into a 5 min chart) notice now the lines from the join points are not correct they shift to the start of that 4 hour bar)

Heres a screen shot of the one hour attached...
What i would suggest here is to the use your indicator and if Dsquare or any programmer can do it, is to join and connect the large fractals togeather. i would disregard the rest for now as that would make it very messy..
Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour fractal.gif Size: 32 KB
  • #10
  • Jul 3, 2010 6:17am Jul 3, 2010 6:17am
[quote=Byn;3848711]
Quoting aquaart
Hey Guys,

What i would suggest here is to the use your indicator and if Dsquare or any programmer can do it, is to join and connect the large fractals togeather.
Sorry guys, I wouldn't know where to start. Can we get a real programmer in here???
  • #11
  • Jul 3, 2010 6:19am Jul 3, 2010 6:19am
Quoting aquaart

Not to sideline you or anything.....
But with FractalChanel indicator... What I found is that on the upper fractal channel (your red lines), if those trendlines are sloping upwards they are rarely useful later on.
The reverse is true also on the down channel (you green lines) if those are sloping downwards they are rarely useful.

.
I Know exactly what you mean here, they do become less useful. but I wouldn't say that they are useless. As the red lines were once support, when broken even though they are going up they can and still do act as resistance, however i do belive the horizonal price break lower would be more of a resistance.. What Im hoping out this is that is that the diagonal trend lines just help confirm a horizontal support, or take profit area when placing a trade.

The logic should be correct, if you have a horizontal support zone, intersecting with a trend line wouldn't that make a more reason to justify the trade..

Can you do a screen dump of your trendlines please?? as i dont think i did it quite right..
thanks

Byn
  • #12
  • Jul 3, 2010 6:31am Jul 3, 2010 6:31am
[quote=d-Squared;3848722]
Quoting Byn

Sorry guys, I wouldn't know where to start. Can we get a real programmer in here???
Haha no worrys dude.. You did enough and got the ball rolling..

thanks again..

anyway back to how i trade the S&R with the MW close system.

ok look at how a W is drawn. It comes down (must hit resistance), it goes up to a middle, it comes down again and then finally goes back up..
now how i would like to enter is that the close of the last up bar is higher than the middle close bar. if it does not then it will come back down and that high close will be the new middle.

This is the same as the 123 system but instead we use the close and not the high, as the highs can produce many false break outs, While close above or below are far more reliable.

See if you can now see the MW's in the previous screen shot..

Let me know if you still dont get it..

BTW theres not that much programming help needed here, Back testing and ideas will do..

Cheers

Byn
  • #13
  • Edited 9:41am Jul 3, 2010 7:58am | Edited 9:41am
[quote=Byn;3848735]
Quoting d-Squared

ok look at how a W is drawn. It comes down (must hit resistance), it goes up to a middle, it comes down again and then finally goes back up..
now how i would like to enter is that the close of the last up bar is higher than the middle close bar. if it does not then it will come back down and that high close will be the new middle.

This is the same as the 123 system but instead we use the close and not the high, as the highs can produce many false break outs, While close above or below are far more reliable.
OK I get it now. So it needs to be a true 5-point W or M with the middle high/low inside both the outside highs/lows. That initializes the trade and then you decide to trade immediately after that based on how the chart looks... Doesn't sound like it should be too hard to produce an arrow when the W or M is formed... does it...? I'll have a think over the weekend.... Errr...I've had a think. Here's something crude to try.

Have a good one guys!

David
Attached File(s)
File Type: mq4 dS_MW.mq4   4 KB | 1,831 downloads
  • #14
  • Jul 3, 2010 9:22am Jul 3, 2010 9:22am
[quote=d-Squared;3848791]
Quoting Byn

OK I get it now. So it needs to be a true 5-point W or M with the middle high/low inside both the outside highs/lows. That initializes the trade and then you decide to trade immediately after that based on how the chart looks... Doesn't sound like it should be too hard to produce an arrow when the W or M is formed... does it...? I'll have a think over the weekend.

Have a good one guys!

David
I think you got it.. heres a better example attached just incase anyone else is interested. It needs to have a mimimum of 5 points yes, but not 5 bars. it can be any number of bars depending where they close. ie. if they keep closing lower and lower that will just be 1 line of the pattern..

i found it to be a very powerful set up especially around S&R zones as shown in the screen dump..

A arrow indi would be nice but an helping in hand in testing would be even better.. obvioously the indi will make the testing phase alot quicker..

happy weekend.. ps what part of uk you from?
Attached Image (click to enlarge)
Click to Enlarge Name: MW example.gif Size: 292 KB
  • #15
  • Jul 3, 2010 9:35am Jul 3, 2010 9:35am
[quote=d-Squared;3848791]
Quoting Byn

OK I get it now. So it needs to be a true 5-point W or M with the middle high/low inside both the outside highs/lows. That initializes the trade and then you decide to trade immediately after that based on how the chart looks... Doesn't sound like it should be too hard to produce an arrow when the W or M is formed... does it...? I'll have a think over the weekend.... Errr...I've had a think. Here's something crude to try.

Have a good one guys!

David
nice try with the indi.. its a bar out in most places.. add it to this indi and see..

Add this close dot indi on and also put the sr-kg support and res indicator on, put a 50ema , 200 ema on the chart. switch the chart to a line chart and see if you can see any potential..
Attached File(s)
File Type: mq4 Line Chart Closes.mq4   < 1 KB | 1,651 downloads
  • #16
  • Jul 3, 2010 9:38am Jul 3, 2010 9:38am
[quote=Byn;3848842]
Quoting d-Squared

I think you got it.. heres a better example attached just incase anyone else is interested. It needs to have a mimimum of 5 points yes, but not 5 bars. it can be any number of bars depending where they close. ie. if they keep closing lower and lower that will just be 1 line of the pattern..

i found it to be a very powerful set up especially around S&R zones as shown in the screen dump..

A arrow indi would be nice but an helping in hand in testing would be even better.. obvioously the indi will make the testing phase...
Well I did say it was crude.... What you're describing is a lot trickier...

Born in the north east (a true 'geordie' though you'd never know it from talking to me). Parents took us down south (north of London) when I was 10. Spend 20 years around there & St Albans/Harpenden area... now in Bicester last 5 years. You?

Got to go now work for the wife now so catch up later.

David
  • #17
  • Jul 3, 2010 10:02am Jul 3, 2010 10:02am
[quote=d-Squared;3848858]
Quoting Byn

Well I did say it was crude.... What you're describing is a lot trickier...

Born in the north east (a true 'geordie' though you'd never know it from talking to me). Parents took us down south (north of London) when I was 10. Spend 20 years around there & St Albans/Harpenden area... now in Bicester last 5 years. You?

Got to go now work for the wife now so catch up later.

David
Yeah the logic of the M and W arrow is very tricky. you will have to use a catch of the price close for the points in there somewhere. i can do logic code but the syntax is where ill fail..

maybe it will go somethink like this
start catching price 1 e.g 100 curren close.
if price goes up catch price 2 e.g 200
if price goes up catch price 2 e.g 250
else if price comes down catch price 3 e.g 180 (middle M point)
if price comes down again catch price 3 as new m point
else
if price goes up catch price 4 e.g 300
if price goes up catch price 4 e.g 320
else if price comes down catch 5 e.g 300
if price 5 is less than price 3 set arrow If not carry on
if new price 5 is lower then set price 5 to new lower
else price 5 is now the new price 3. (because price 5 has gone up)

then repeat.. or something like that.. lol
i was never any good at programming, dot a degree in computer science too.. haha..

Anyway must be a small world, im in Hatfield next to St A, im sure you know where that is.. not quite as nice as your neck of the woods in St A.. but i go there alot to get pissed and chase tail.. lol im sure you been to Snachwood.. lol i work you out to be mid 30's im early 30's.. ok a bit old to go batchwood now!!!
  • #18
  • Edited 5:50am Jul 6, 2010 5:35am | Edited 5:50am
[quote=Byn;3848883]
Quoting d-Squared

Yeah the logic of the M and W arrow is very tricky. you will have to use a catch of the price close for the points in there somewhere. i can do logic code but the syntax is where ill fail..

maybe it will go somethink like this
start catching price 1 e.g 100 curren close.
if price goes up catch price 2 e.g 200
if price goes up catch price 2 e.g 250
else if price comes down catch price 3 e.g 180 (middle M point)
if price comes down again catch price 3 as new m point
else
if price goes up catch price 4 e.g 300
if price...
I might have missed a few years out... actually in my 40's. Yes I know Hatfield well.

I'm doing some work (but it's not working out yet). Tricky to know when to stop trying to make a pattern and start again... Not got anything yet.
  • #19
  • Jul 17, 2011 1:01am Jul 17, 2011 1:01am
Can someone add an email alert to this really popular indicator Please Let me know when you fix it !!

Thanks

[email protected]
Attached File(s)
File Type: mq4 Chin Breakout Alert V.1.2s(m MTF).mq4   25 KB | 1,728 downloads
  • #20
  • Jul 17, 2011 1:31am Jul 17, 2011 1:31am
It is not good manners to hijack someone else's thread. Plus it is customary to ask the original coder to make any mods before posting to this thread. I have been following his thread and I know for a fact he will not post source code. How do you think another coder can modify the code?
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