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3 Wise Men

  • #21
  • Dec 23, 2015 6:04am Dec 23, 2015 6:04am
Quoting MathTrader7
{quote} Hi Khalil, I guess that the product is not compatible with newer versions of MT4. And the author did not update it, so it cannot be downloaded on the newer versions of MT4. Best, Math
Maybe or its not free anymore.

I've found some work on FF here, but this one is not using the angle, it uses the distance between price and Alligator teeth.
No guts, no glory
  • #22
  • Dec 23, 2015 6:27am Dec 23, 2015 6:27am
Quoting abokwaik
Good Day, Although I have seen several threads discussing Bill Williams indicators, I decided to automate his "Three Wise Men" strategy as outlined in his book "Trading Chaos - 2nd edition" mixed with few of my own thoughts. Indicators used (standard MT4 indicators, all with default settings): Alligator Awesome Oscillator (AO) Fractals Definitions: BUDB : Bullish Divergent Bar Have a Lower Low than the previous bar, AND Must Close in the Upper Half of its range BEDB : Bearish Divergent Bar Have a Higher High than the previous bar, AND Must Close...
Hi Khalil,
Thank you for opening this thread
  • #23
  • Dec 23, 2015 6:55am Dec 23, 2015 6:55am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting abokwaik
{quote} Measuring the angle is not as easy as it might look.
The only accurate way to measure an angle in MT4 is pips/candle ... which isn't subject to the zoom in/out variation.
MT4/MT5 EAs/Indicators/Alerts coder
  • #24
  • Dec 23, 2015 7:07am Dec 23, 2015 7:07am
Quoting FerruFx
{quote} The only accurate way to measure an angle in MT4 is pips/candle ... which isn't subject to the zoom in/out variation.
Do you mean: pip change / number of candles ?

I think there is no correct way of calculating the angle on price charts, mainly because x and y axis have different unit size. :nerd:
No guts, no glory
  • #25
  • Dec 23, 2015 7:16am Dec 23, 2015 7:16am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting abokwaik
{quote} Do you mean: pip change / number of candles ?
Yes pips per candle ...

Example if between 10 candles, the price (or any lines you are looking at) increased by 200 pips ... then your angle is 20pips per candle.

The difference with - let's say - angle in degree, if you trade a line between these 10 candles forming an angle of 45° ... if you zoom in/out, the line will have a different angle in degree ... while the pips per candle is strictly the same.
MT4/MT5 EAs/Indicators/Alerts coder
  • #26
  • Dec 23, 2015 7:28am Dec 23, 2015 7:28am
Quoting FerruFx
{quote} Yes pips per candle ... Example if between 10 candles, the price (or any lines you are looking at) increased by 200 pips ... then your angle is 20pips per candle. The difference with - let's say - angle in degree, if you trade a line between these 10 candles forming an angle of 45 ... if you zoom in/out, the line will have a different angle in degree ... while the pips per candle is strictly the same.
Thanks FerruFx,

However I don't see how that can help on Williams Angulation issue.
I will try to compare percentage change between the 2 lines and see if that could be useful.
No guts, no glory
  • #27
  • Dec 23, 2015 7:48am Dec 23, 2015 7:48am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting abokwaik
{quote} I will try to compare percentage change between the 2 lines and see if that could be useful.
Yes that's the same principle as long as the values taken for your calculation aren't "visual" and subject to zooming change.
MT4/MT5 EAs/Indicators/Alerts coder
  • #28
  • Dec 31, 2015 7:40am Dec 31, 2015 7:40am
I have tried different combinations to come up with something successful out of this,
but it seems the wise men are not as wise as I expected.

So I will have to put this project on hold for the time being.
No guts, no glory
  • #29
  • Last Post: Jan 2, 2022 5:13am Jan 2, 2022 5:13am
Quoting sbenichou1
subscribed!!!
hi, how toget the wise men indicator for mt4?
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