Auto MTF Standard Deviation Channel

Quoting moj65

Disliked

Auto Channel

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Quoting Kas1

Disliked

Looking for an automatic multiple timeframe standard deviation channel for MT4. It should be able to change the:

1. Timeframe-how often the channel will shift
2. BarsBack-amount of bars back the channel starts from
3. Deviation-amount of deviation from median line
4.Rays-on or off

ie. The channel would be set on the the H4, 128 bars back with 2 deviations.

Channel shift on candle close.

Any help would be appreciated.

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#property copyright "Copyright © 2010, Oneday"
#property link      ""

#property indicator_chart_window

extern int     Bar_Period     =  24;
extern double  Set_deviation  =  2.0;//added this user input
extern color   Colour         =  Red;
extern int     Line_weight    =  1;
extern bool    Show_Ray       =  true;
datetime       TimeCheck;
datetime       T_1;
datetime       T_2;

//==========================================================================================================================================
int init(){
   TimeCheck   =  Time[0];
   T_1         =  iTime(NULL,0,0);//the second zero refers to the currently open bar.
   T_2         =  iTime(NULL,0,Bar_Period);
   UDF_Draw_channel(T_1, T_2);
   return(0);
}
//==========================================================================================================================================
int deinit(){
   ObjectDelete("SA SDC");
   return(0);
}
//==========================================================================================================================================
int start(){
   if(TimeCheck != Time[0]){
      ObjectDelete("SA SDC");
      T_1   =  iTime(NULL,0,0);//the second zero refers to the currently open bar.
      T_2   =  iTime(NULL,0,Bar_Period);
      UDF_Draw_channel(T_1, T_2);
   }
   return(0);
}
//==========================================================================================================================================
//User defined function to draw the channel
void  UDF_Draw_channel(datetime TimeR, datetime TimeL){
   ObjectCreate("SA SDC",OBJ_STDDEVCHANNEL,0,T_2,0,T_1,0);
   ObjectSet   ("SA SDC",OBJPROP_COLOR,Colour);
   ObjectSet   ("SA SDC",OBJPROP_WIDTH,Line_weight);
   ObjectSet   ("SA SDC",OBJPROP_RAY,Show_Ray);
   ObjectSet   ("SA SDC",OBJPROP_DEVIATION,Set_deviation);//allow user to set the deviation via the user input
}
//========================================================================================================================================== 

Quoting One day!

Disliked

I did something similar a while ago for somebody else so I have adapted it to include the ray option. You can set the number of bars back, standard deviation, line colour and whether or not the rays project. It will redraw when a new bar opens.

Just load it into your indicator folder....

Ignored

Quoting Kas1

Disliked

Thanks for this very close to what i was looking for but I wanted it to be able to change the timeframe the channel is set on. Right now it has the same bars back across every timeframe. What I was looking for was an option to change the timeframe it resets and displays from. That way I could see the channel that is on the H4 chart from the H1 and it would only reset when the H4 changes. Hope that makes sence, that's what I meant by MTF. But its a step in the right direction!

Ignored

Quoting One day!

Disliked

What you want sounds feasible, but I don't have time at the moment to code it.

In order to do what you want, it will be necessary to calculate the values for the master timeframe and then use these to draw trendlines mimicking the standard deviation channel - the built in channel won't be suitable as it will calculate the standard deviations based on the size of the data set - eg. 24 bars on the 4hr = 24x4 on the 1hr = different values....

Perhaps somebody else can help you....

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Quoting futurespec

Disliked

Not really sure if this is what you want but give it a try.

HTH

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Quoting Kas1

Disliked

Can anyone add a magic number to this so I can layer more then one on a chart?

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Quoting One day!

Disliked

In order to do what you want, it will be necessary to calculate the values for the master timeframe and then use these to draw trendlines mimicking the standard deviation channel - the built in channel won't be suitable as it will calculate the standard deviations based on the size of the data set...

Ignored

Quoting futurespec

Disliked

History & StdDev values added as requested.

Ignored

Quoting One day!

Disliked

In order to do what you want, it will be necessary to calculate the values for the master timeframe and then use these to draw trendlines mimicking the standard deviation channel - the built in channel won't be suitable as it will calculate the standard deviations based on the size of the data set - eg. 24 bars on the 4hr = 24x4 on the 1hr = different values...

Ignored

Quoting Kas1

Disliked

This is an example of a 2 day standard deviation channel and how I would like it to be drawn across a lower timeframe.

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Quoting abiolamac

Disliked

pls i have attachd 2 EA's i wil like someone here to look at them and help me put a command that can limit the maximum number of trades it can take at same time... i just want to be able to choose the maximum trades it should be allowed to place at any given time..
thank you all

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Quoting abiolamac

Disliked

pls just help me with it...

Ignored

Quoting Kas1

Disliked

This is an example of a 2 day standard deviation channel and how it should be drawn across a lower timeframe.

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