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MT4 Indicators

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Thought I'd start a thread on the deep and mysterious world of MT4 indicators starting with MTFs.

MuiltiTimeFrame indicators are popular on MT4 and a great tool not just for keeping in touch with the higher time frames on the one chart but also to help time entries and exits and staying in trends. The indicator itself has an adjustable time frame setting allowing the current time frame to be adjusted to any higher mt4 time frame so you can either use 1 to flick through time frames or have more than 1 permanently set.

Below is a 15 min Dax chart with a 15 min stochastic and under that is a 1 hour stochastic (same default settings for both). Points of note are the d,k crosses on the 15 min can be muddled compared to the 1 hour, the M15  stoch gives multiple false exit signals to get out of the trend while the H1 stoch has crisp and clear crosses of d,k as well as clear crosses of overbought and sold, stays for the full length of the trend as well as crossing and exiting over sold in good time to catch the emerging new up trend.

Combined they provide the alertness of a shorter time frame with the steadiness of the higher time frame without having to chop and change charts or have multiple small charts covering the screen.

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How about these MTFs,

15 min chart with 1 hour Heikin Ashi overlay.

15 min chart with 1 hour 2 x MACD (12, 26, 9 and 24, 52, 18).

15 min chart with 1 hour RSI and 7 MA period overlay.

 

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Dynamic Zone Indicators.

Many will have seen DZ versions of indicators such as on the PRT platform, they have floating levels for over bought and over sold but many simply have a Bollinger band component rather than true DZ which is closer related to Quantile bands rather than BB. Having floating OB/OS levels gives them more precision and meaning.

Below is DZ Ehler's Fisher transform on a 1 hour chart giving advance warning of major turning points at OB and OS and good divergence signals.

image.thumb.png.2a2a20a133a984e2deb64c98e44a570b.png 

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More Dynamic Zone indys;

DZ Know Sure Thing.

DZ Polyfit Derivative of Averages.

DZ Traders Dynamic Index;

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Adaptive Indicators.

Adaptive versions of an indicator incorporate a slow and fast phase component that allows the indicator 'adapt' to changing price/time conditions.

Adaptive Averages with Jurik Filter.

Adaptive Gann High - Low Activator.

Adaptive Volty ATR Cloud.

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Digital Filters

This should really have been included before the adapters section as it was the development of digital filters that lead to adaptive indicators.

Digital filter type indicators use a 2 phase system, a fast average and a slow average and expanding on that simple premise a digitally filtered indicator can incorporate;

FATL fast adaptive trend line

SATL slow adaptive trend line 

RFTL reference fast trend line

RSTL reference slow trend line

FTLM fast trend line momentum

STLM slow trend line momentum.

So from the family of digital filters any can be used individually or collectively to give a sliding scale reference between fast and slow periods of the market which can become a stand alone indicator or incorporated into another indicator influencing it's plot on the chart.

Main 4 DFs Separate

STLM Histo

FATL Channel

FATL 1&4 Hour

DZ DF Averages 1&4 Hour.

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ODDBALLS

Exponential Moving Average with Variable Factor Smoothing Channel.

A 'Kiss and Goodbye' type indicator. Messy in consolidation but beautiful in a trend.

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Continually adjusting Linear Regression channel. Will adjust after each bar close if warranted. 

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Taotra Moving Averages (20).

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Triangular Moving Average Bands (triangular is basically a double smoothed).

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WildHog Divergences

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Dashboards and Mini Charts.

Top Row; iPanal Indicators. Daily Dynamic Trend Multi Currency v4. IG Symbol Info. CCI Dashboard.

Left Side; IG Correlation Matrix.

Right Side; Stratman Mini Chart V21.

Bottom Row; All CCI BO. All RSI BO.

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All indicators in this thread are free downloads and most can be found easily enough by googling the names I've attached to them. If help needed just PM me.

Interested if anyone else has any interesting or favourite MT4 indicators of their own?

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VOLUME    

Volume indicators depend on a brokers feed and the data used may come from a variety of sources and types. Real volume is units traded, transaction volume is orders executed and tick volume shows how often prices are updated. Regardless of where the data comes from the profile of the volume chart should be very closely related. Also consider the colour codes on basic volume indicators may indicate different aspects, for example, more buy or sell units per candle (web based platform) or greater or lesser total volume compared to the previous bar (MT4 platform).

Hawkeye Volume:

Red denotes sell dominance, green buy dominance and white = neutral or no demand which may indicate a change of direction if control is reversed .

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Fractal Volume;

You might think mixing fractals with volume is a crazy idea that will give weird results and you'd be right. An important note on fractals is that many recalculate and redraw depending on subsequent data so they may give signs but not signals. The fractal volume indicator below does both, The large bars (15 and over)  denote possible cyclic turning points but if wrong will erase and redraw so can't be relied upon as a signal. The smaller bars (less than 15) are based on buy or sell dominance which, if coming after a large same colour turning point bar, may indicate continuation in that direction. 

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Better Volume:  

Better volume tries to pick out significant bars from the crowd, see video below.

High Vol Climax Up = Red.  HV Climax Down = White.  Climax Churn = Magenta.  Churn = Green.  LV = Yellow.

vol3.thumb.png.f1fa989651558c187f7ed550b3cd9ff1.png

 

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Support & Resistance:

If only there was some means to auto redraw support and resistance and trend lines life would be so much easier.

- Support and Resistance indicator. 1 month - 1 min Time Frames. (I've left out the lower orders to unclutter the chart but really useful if working with small time frame charts 

- Supply and Demand Zones. 

- Trend Lines.

- Murrey Math S&R with Pivots

- S&R Fractals. 1 month - 1 hour Time Frames. (you might recognise it)

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    • @Mercury, I see you have started to look at Coffee. Excellent. If you look at both Arabica and London (Robusta) then one could argue that we are witnessing oversold conditions especially if you look at longer term timeframes like the 'Monthly' and potentially the 'Weekly'.  For me it is about identifying potential breakouts. We may see that in the days and weeks to come but right now at this moment in time both on the 'daily' are trading below 20, 50, 100 and 200 DMA's so it is still bearish for me. It is one I am monitoring closely.  Commodities can offer some excellent trading opportunities and produce some of the strongest trends. I do not use or apply EWT but if you can use it to effectively increase your chances of success which leads to a greater chance of profiting then all the best. 👍
    • I was watching a TV series called "This Giant Beast That is the Global Economy " starring and narrated by Kal Penn, actor in "House" and speech writer with Obama.  It doesn't really cover any new concepts, although there were a few interesting observation in their, like what the most important commodity in the global economy is... (I wont spoil it for anyone who hasn't seen it yet and wants to but it was not that obvious and is blindingly obvious in retrospect). One thing that did pop out that I though was relevant for the forum was that the price of coffee is way too low for farmers to make money.  The logical conclusion of this is that they will farm something else and supply will be curtailed and then prices will go up, the basic perpetual cycle of supply and demand change.  This very basic fundamentals proposition motivated me to look at coffee on the charts to see if there was a building opportunity and I think there may be.  I will preface my analytical assessment with the statement that I know very little about the coffee industry other than how to select a great bean type as a consumer and make a great flat white. If I look at the long term charts (Quarterly/Monthly) I see that coffee trades in a large range from about 4000 to 34000 at the extremes (or $0.40 - $3.40 per US pound if you prefer).  This seems to represent the classic economics supply and demand curve in candle pricing form.  With the available data we can see a set of cycles between the market top and bottom zones that in the main run fairly directly between the zones.  At this point my thesis would be that if you catch the market right at either extreme you can hold until price reaches the opposite end of the range (net 30,000 points or so).  For best results you want a straight run rather than one with large reversals. If I apply EWT to the chart I see a series of 1-5s and A-B-C, although this is arguably less relevant than for markets that do not operate between such obvious ranges as the key is obviously to look at trading when the market enters, or more correctly, then exits the range extremes zones.  Still it is interesting to see that the run up in the mid 70s was a motive 1-5 that still marks the high point in price.  After that I see a series of massive A-B-Cs culminating in a slightly lower high extreme price in the late 1990s than that printed in the 70s (still went into the market top zone though). This high then produced a 1-5 down to the lowers price on the chart around 2002.  The next move up to 2011 could be either an A-B-C or a 1-5 and the current move looks decidedly like an A-B-C.  If the 2011 move is an A-B-C and the current move is also an A-B-C then I would expect the current move to be a larger wave B that ends higher than the previous low and spawns a massive rally that ends higher than the previous high and is a 1-5 that goes pretty much straight up.  Either way the current move is and A-B-C so will end higher than the previous low and as most of the bear moves end inside the market bottom zone I can reasonable conclude that this move will end somewhere between 4200 - 8000. Let's look at a shorter term charts to see if we can refine this.  I have 2 weekly charts attached, the first of which shows the bearish move down from 2011 and the second of which zooms in on the final wave C of C.  In the first chart I can see a clear A-B-C structure to all 3 of the larger A-B-C wave form of the bearish move.  This confirms an A-B-C and not a 1-5 and also confirms that the market is in a final wave C of C, which will spawn that Bull market.  I also have a nice upper resistance trend line and 2 possible lower lines (both may be valid) with a lot of good current (green circle) and prior pivot (purple circle) touches. If we look at the second weekly chart the wave C of the larger wave C (from the wave B pink) is cutting a clean 1-5 pattern and looks to have just completed the 3-4 part of this.  The rally to wave 4 (blue) is in a-b-c, which you would expect of a retrace so the next bearish phase should be a final wave 5 that will mark the end of the overall bear market.  I would be looking for price to hit one of the lower channel lines but inside or on the 8000 level ideally.  Note all previous moves that did not make it to the extremes zone were not wave Cs (As or Bs) and all the 5 did.  So the conclusion to this is that all wave Cs or motives 1-5s penetrate the extremes zones of the range but As and Bs tend not to.  Also 1-5 waves tend to run hard and fast and make more extreme price tops.  The current move looks line a Wave C that would spawn a 1-5. Finally looking at the daily chart the current bearish phase looks to have put in a 1-2 (green) of that final 1-5 I am looking for.  I will be tracking this for the 3-4-5 and other signals to see if I can spot the turn.  As and when price breaks out of the upper weekly trend line resistance I think a strong bull market will be in play that could be a motive 1-5 that makes it into the extreme market top zone.  In all of the bull turns through there has been a strong short term retrace so the best strategy might be to let the turn happen and spot the initial retrace turn.  In these agri type commodities getting in on such a range extremes turn has to be the way to play it.  I will be tracking this one with interest for a while but it will require some time still to mature I think. 
    • I last posts around 2-3 weeks ago on this thread and I have seen Litecoin go down towards the lower $70's. It is currently trading at $76-77 at the time of writing this post.  Litecoin's chart looks pretty ugly. It is currently trading below its 20, 50, 100 and 200 DMA's which is very bearish.  Only really Bitcoin (significantly) and Bitcoin Cash are trading above their 200 DMA's on the 'daily.  Litecoin will need some very bullish news or a big move from Altcoins / Bitcoin otherwise it could easily fall down into the 60's.  After the halving event, it seems, Litecoin has been heavily sold. This capital may now shift to Bitcoin. That is my suspicion and assumption and the price action will confirm this. I will be interested to see if the divergence between Bitcoin and Litecoin increases. 
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