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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;

1158242524_GER30()H1kst.thumb.png.7741dc2283d610e84d1c0b56fa6e2955.png414327009_GER30()H1pda.thumb.png.91fa93f1a88327b1ee6aa8041094a5ff.png2011671857_GER30()H1tdi.thumb.png.b3c36c59388fd52cb424f4a19d5589a9.png 

 

 

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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.

adapJ.thumb.png.d83d7405f2b5ca4f2dd1a62bce9b760b.pngadapgann.thumb.png.0722c87f7a117649bab0081e2a48f0a5.pngadapvolty.thumb.png.4bd968de8f749cbd6cda26efd5718372.png

 

 

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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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Indicator showing the correlations between the SPX500 and a number of currency pairs and indexes across several time frames.

SPX500Weekly.jpg

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Yearly_Pivots.mq4 on the JPN225. The index retraced to within 1 point of the R1 the other day.

JPN225Daily.jpg

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    • Off topic related to Caseynotes previous post. http://www.centerforhealthsecurity.org/event201/videos.html   October 2019...is Johnson&Johnson a firm buy?🤔🤔
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Intu Properties PLC (INTU) 92.466 7. Amigo Holdings PLC (AMGO) 86.754 8. NMC Health PLC (NMC) 81.446 9. Ted Baker PLC (TED) 80.78 10. Allied Minds PLC (ALM) 79.991 Source: Bloomberg, February 2020 If at first you don't succeed, try, try again Failing to secure funding in September last year was a huge blow to Metro Bank as it needed to raise finance to meet the Minimum Requirements for own funds and Eligible Liabilities (MREL) regulation by January 2020. MREL intends to ensure firms have the capacity to take on losses so that they can fail safely, removing the need for public funding. The bank went back to the market in October with an enhanced offer: that they would remove Vernon Hill, the chairman of Metro Bank, and a higher coupon of 9.5%. Metro Bank managed to secure the £350 million it required, but at a large cost. An accounting scandal revealed in January last year was another reason why bond investors demanded such a yield. Analysts have since raised their concerns about the constraints the business faces due to the bond terms at their third quarter results, to which David Arden, chief financial officer (CFO), responded: 'I fully accept that the cost was somewhat elevated, but I think it was the right thing to do for the long term of the bank.' A recipe for disaster: rising costs and subdued growth Whilst Metro Bank has satisfied MREL regulations, for now, there are still difficult times ahead with rising operating expenses, potential fines by two regulators and, as outlined previously, substantial costs to finance their recent debt issue. The lender is still under investigation from the Financial Conduct Authority (FCA) over its reporting scandal in January last year whereby it miscalculated loans in risk terms, consequently overstating its capital ratios. As a result, investors have been warned that Metro Bank could potentially face financial penalties which could well be 'significant'. Adding to this, the bank is also being scrutinised by the Prudential Regulation Authority (PRA) in a separate investigation. Operating costs that are higher than average in the industry is part and parcel of Metro’s business model. The bank’s core mission is to 'change the way Britain banks' by offering customers access to its branches (now 70 in total) seven days a week. It is this that creates a huge dilemma for Metro. Costs need to be reduced, even more so due to its recent bond issue, but equally the bank must stick to its promise that made customers switch over to them in the first place. In conjunction with this, the firm needs to grow in order to return to profitability which in itself is a significant challenge in the current low interest rate environment. To achieve growth Metro Bank will need to battle on two fronts, against the 'big four' on the high street and the influx of new wave digital banks online. The graph below illustrates the consequence of Metro’s strategy. It displays the cost to income ratio, a measure commonly used to compare banks, for Metro Bank and the FTSE All-share Banks Index (Ex-Metro). We can see that Metro’s higher operating cost base has consistently resulted in a greater cost to income ratio than the average of its peers. Having said this, Metro Bank has recognised the need to focus on cost efficiency and has managed to reduce this ratio in Q3 2019. Encouragingly, the improvement occurred despite adding three new stores during the quarter as well as developing further sites in Liverpool and Manchester – the firm is sticking to its core mission. Figure 2. Cost to Income Ratio: Metro Bank vs FTSE All-Share Banks (Ex-Metro) Source: Bloomberg, February 2020. Virgin Money and Close Brothers Group have been omitted from Index average due to insufficient data Potential for a short squeeze? The market is not optimistic that the challenger bank can turn its fortunes around. 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Odey Asset Management LLP -2.62% 14/01/2020 3. Marshall Wace LLP -1.38% 29/01/2020 4. Connor Clark & Lunn Investment Management -1.22% 05/09/2019 5. Voleon Capital Management LP -0.62% 17/02/2020 6. Samlyn Capital LLC -0.53% 05/06/2019 Source: Bloomberg, February 2020 Metro Bank 2020 results preview Since listing in March 2016, we have seen a steady decline in the percentage of analysts whom have issued a buy recommendation. The chart below depicts this, as well as the sharp decline in Metro Bank’s share price. The most recent consensus indicates a twelve-month target price of 232.33 pence, calculated from fourteen different analysts. Its share price closed at 205.2 pence on 20 February 2020. Source: Bloomberg, IG, February 2020 Rumours have been circulating since last year, after its reporting miscalculation, that Metro Bank was considered as a takeover target for several large private equity firms. The Financial Times reported at least six takeover firms contemplated whether it would make economic sense to buyout the bank(2). One analyst at Metro’s Q3 results posed this question directly to the leadership team to which they didn’t give anything away but did outline 'should something occur, we will treat it with the right respect because that's the fiduciary duty of the board'. An update on plans to balance growth and cost efficiency will be communicated during its full year results on the 25th February 2020. You can invest in any of the shares mentioned in this article with IG from as little as £3, our newly reduced fee, on the IG share dealing platform. Open a share dealing account. You can open an IG account within a few minutes. Fund your account. Our minimum deposit is £250. Place your first trade. Open our platform and trade over 10,000 shares available through IG. 1. ShortTracker 2. Financial Times This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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