Posts Tagged ‘metatrader indicators’
BJF Trading Group MT4 Iindicators - Independent Opinion
Author: Sarkis S. (Russia)
ATTENTION! Indicators have been tested in “kitchen mode”, and there was almost no noise on M1 and M5! So, drawn conclusions are true for all timeframes (M1-H4). At MIG Bank and similar brokers, conclusions are true for timeframes (M15-H4).
General-Purpose Indicators (Strength, Levels)
Reiteration of signals (divergences) (TF-M15/H4) +
Effectiveness (1-10 points) – 8
Builds all possible channels. Redraws quite well on different TF. Sometimes poorly cleans remains and old lines remain. The best channel indicator I’ve ever seen. The main advantage is that it shows the channel of a lower TF, on the one under observation + color orientation. It is useful for those who prefer using dynamic channels.
Disadvantages – slows the terminal, doesn’t like a large number of other indicators, which build on a price chart.
Reiteration of signals (divergences) (TF-M15/H4) +
Effectiveness (1-10 points) – 10
Ideally builds resistance lines H1, H4, D1, W1, which are truly significant. They always can be taken into account in a Trading Strategy.
Reiteration of signals (divergences) (TF-M15/H4) +
Effectiveness (1-10 points) – 5
Works only with the ones understanding the Wolf Waves theory. Gives Wolf Waves signals. However, real TF are Đť1, Đť4. I didn’t get a chance to observe it on lower TF. Signals are clear, reproducible if you correctly understand changeable peaks. Disadvantage – not all currency pairs have Wolf Waves. Works bad with yen and some cross-rates. Works perfectly with EUR, GBP, AUD, FRF. Works not very good with NZD, CAD, yen, cross-rates.
Effectiveness (1-10 points) – 10
No comments. Everything is perfect. It is especially convenient that points of 5-digit brokers are the same as points of 4-digit brokers!
I couldn’t find application for this indicator. The basic disadvantage – it works “here and now”, and there is no possibility to see to the overall picture to compare its data to historical data. I think that a separate filter should be created to make everything look informative. But I cannot imagine what this filter should look like.
I was not able to install it. I’m not a fan of Elliott waves as well as anything that tries to find global order in chaos. I will describe it when I examine it. Judging by description, it’s not a very useful thing. I think it’s a separate subject, and a separate global program should be created for its realization.
Divergence Oscillators2,3 (Fast, Slow, Trend)
Reiteration of signals (divergences) (TF-M15/H4) +/- low
Effectiveness (1-10 points) – 3
An average indicator. Neither one way nor the other. I couldn’t find application for it. Simply said, concerning divergence it’s something average between TrueStrenthIndexI and CCI, but the border can’t be clearly drawn. It should rather be used in the directional channel for observation of divergence between the adjacent significant maximums or minimums. It’s for devotees of universalization…
Reiteration of signals (divergences) (TF-M15/H4) none
Effectiveness (1-10 points) – 2
Extremely non-reproducible indicator. It is impossible to attach it to anything. Only false signals on a strong TREND. At least, it gives some reliable signals in the directional channel. Only false signals in the flat channel, too. Quite doubtful indicator, which requires special attention and special strategy.
i-AC
Reiteration of signals (divergences) (TF-M15/H4) +/- average
Effectiveness (1-10 points) – 5
An average indicator. Neither one way nor the other. I couldn’t find application for it. Simply said, concerning divergence it’s something average between TrueStrenthIndexI and CCI, but the border can’t be clearly drawn. It should rather be used in the directional channel for observation of divergence between the adjacent significant maximums or minimums. It’s for devotees of universalization…
Reiteration of signals (divergences) (TF-M15/H4) + high
Effectiveness (1-10 points) – 10
Takes the closest peaks, closer than TrueStrenthIndexI! For correct perception you should add BOTH trade areas to the default setting, +(100-200), -(100-200), with scale fixation +-350. It significantly increases its efficiency of use by users. As a matter of convenience, set NORMAL DIVERGENCE by default (not HIDDEN)!
i-Stoch,  i-Range Explanation Index,  i-WPR
Reiteration of signals (divergences) (TF-M15/H4) + average
Effectiveness (1-10 points) – 5
The worse variant than CCI!
Reiteration of signals (divergences) (TF-M15/H4) + average
Effectiveness (1-10 points) – 7
Signals are very similar to TrueStrenthIndexI! But there are no overbought/oversold control areas, so you control it by shift of minimums/maximums. Quite good at work along the trend: it gives less false signals than other oscillators. At a strong trend it gives accurate signals of hidden divergence. At the directional channel it gives quite good signals of normal divergence.
Reiteration of signals (divergences) (TF-M15/H4) + average
Effectiveness (1-10 points) – 5
The worse variant than TrueStrenthIndex!
Reiteration of signals (divergences) (TF-M15/H4) + high
Effectiveness (1-10 points) – 10
Takes average peaks, farther than CCI! For correct perception you should add BOTH trade areas to the default setting, +(50-80), -(50-80), with scale fixation +-100. It significantly increases its efficiency of use by users. As a matter of convenience, set NORMAL DIVERGENCE by default (not HIDDEN)!
Reiteration of signals (divergences) (TF-M15/H4) + average
Effectiveness (1-10 points) – 5
An average indicator. Simply said, concerning divergence it’s something average between TrueStrenthIndexI and i-CMF, but the border can’t be clearly drawn. It should rather be used in the directional channel for observation of divergence between the adjacent significant maximums or minimums. It’s for devotees of universalization…
Reiteration of signals (divergences) (TF-M15/H4) + average
Effectiveness (1-10 points) – 5
It is similar to i-ACC, but it doesn’t shift tops of maximums and minimums. It is very similar to PowerRVI, but only with the fixed level “0”. It can be considered as a “light version” of Power_RVI, it is analogous in relation to divergence.
Reiteration of signals (divergences) (TF-M15/H4) + high
Effectiveness (1-10 points) – 8
Takes average and closest peaks, like CCI and i-TrueStrenth IndexI! For correct perception you should add BOTH trade areas to the default setting, +(30), -(30), with scale fixation +-40. It significantly increases its efficiency of use by users. As a matter of convenience, set NORMAL DIVERGENCE by default (not HIDDEN)! It is an interesting indicator because of availability of the overbought/oversold dynamic channel. However, nonstandard form of execution requires operating skills. It is a powerful indicator. Especially good in the directional channels. Shows worse results ALONG THE TREND or in the FLAT CHANNEL!
Reiteration of signals (divergences) (TF-M15/H4) + high
Effectiveness (1-10 points) – 8
Signals of NORMAL DIVERGENCE illustrate reverses, junctions of a channel of one direction to another one very well! Takes farther peaks than TrueStrenthIndexI! Effectiveness of signals is low at a strong trend or the flat channel. At the directional channel it gives quite good signals of normal divergence.
Effectiveness (1-10 points) – 0
No comments
Effectiveness (1-10 points) – 0
It feels like от i-ACC, only in a trend variant. It’s quite original, but will be suitable only for a certain audience…
Reiteration of signals (divergences) (TF-M15/H4) +/- average
Effectiveness (1-10 points) – 5
Everything is quite similar. OSMA sometimes gives signals of reverses of adjacent maximums and minimums.
i-KST Is a reversed MACD
MACD is the most understandable and the best choice for consumers. I recommend adding colors like in MACD(Elder) for better informativity.
Volatility, Volumes, Strength 2,3
Reiteration of signals (divergences) (TF-M15/H4) +/- average
Effectiveness (1-10 points) – 5
Gives quite good signals of divergence, but will rather be suitable for those, who play on these lines as on the basic strategy. It is of no interest for me.
Reiteration of signals (divergences) (TF-M15/H4) -
Effectiveness (1-10 points) – 2
No comments. I’d rather use simple tick volumes.
Reiteration of signals (divergences) (TF-M15/H4) -
No comments. Interesting oscillator of strength of bulls/bears. For fans of Elder indicator. I’ve tried using it in different situations and combinations, but it doesn’t give reliable signals, not speaking about divergences. In my opinion, it is not very valuable…
The second one, price following, is also less informative
Reiteration of signals (divergences) (TF-M15/H4) -
Effectiveness (1-10 points) – 2
I understand only tick volumes among all other volumes, which are not really effective.
Reiteration of signals (divergences) (TF-M15/H4) +/- average
Effectiveness (1-10 points) – 8
It can be used in certain situations. It is also the most informative signal of reverse divergence.
Reiteration of signals (divergences) (TF-M15/H4) +/- average
Effectiveness (1-10 points) – 5
It is a very specific indicator of volatility, like i-ACC among oscillators. In my opinion, it gives lagging signals.
No comments
Reiteration of signals (divergences) (TF-M15/H4) -
Footnotes
Note: names are given in accordance with names in МТ4.
2 – names of oscillators are given in accordance with their significance (the most usable and understandable indicators (in my opinion) are marked with color)!
3 – Bill Williams’ indicators are not additionally commented.
Metatrader Indicator Building Essentials
Knowing all of the essentials for building a forex indicator is important, especially if you really want as much use out of it as possible. There are many people who have built these indicators to help with the everyday tasks involved in trading in the foreign exchange market. When you have a Metatrader indicator, you will be able to take into consideration all of the different environmental and fundamental factors that can affect your trades, and therefore how much risk you are taking. The charts involved in this type of building will give you vital information, which can ultimately be used to analyze certain market trends, and give you valuable information that you would otherwise not have.
The basic idea behind these types of indicators is that with the right one, you will be able to see future directions that price movements will take. This in turn will give you a nice edge on everyone else who is not able to predict such things, and make decisions on trades accordingly. However, prices can only be predicted within a certain period of time, and it depends on a number of factors which can easily change the course of things. There are a few key things that traders try to predict when it comes to prices. One of these things is the support and resistance levels.
One of the reasons that support and resistance levels are so important is because they are the areas which determine whether or not a certain price changes direction. Time is something else that traders attempt to predict, and not always successfully. Your whole goal of building such an indicator is to predict the general direction a price is headed under certain conditions. There are all of the different kinds of indicators, each of them different in their own way. There is almost always an indicator present which represents momentum levels that are crucial for you to examine when trying to make predictions on where prices are headed.
When it comes to making accurate predictions, you have two different choices with regards to indicators. There are hybrid and unique indicators, each serving their own unique purpose. If you want to develop a unique indicator, you will need to know that they can only be created with core element chart analysis. If you want a hybrid indicator, then you will want to keep in mind that you will be able to use both existing indicators and certain core elements.
Those who want to build a unique indicator will want to consider all of the different components involved, starting with the patterns. The purpose of these is to repeat price sequences of a certain period of time. You will find that most Metatrader indicators use patterns as a way of showing where future prices are going. Another component of these indicators is mathematical functions. They have a very important role in averaging prices and also doing more complex things. It’s important to consider all of these things, so you will have a good idea as to how to go about building your indicator.
BJF Trading Group inc.
http://iticsoftware.com
Metatrader Indicators – What Indicators Are Available?
Summary: You will have to experience Metratrader before knowing the indicator. This article states all the important indicators obtained in this program.
You should know that Metatrader Expert Advisor is a great tool in dealing with forex market trades. This program helps you in the way that it contains indicators that provide you the necessary information on whether to buy or to sell that particular currency. Here are some important indicators that greatly assist you in forex trading.
The Metatrader indicator will be BB MACD. It is a combination of Bollinger Band and Moving Average Convergence Divergence indicator that predicts the market trend. You can also determine the strength of the trend by looking at the gap between the 2 bands. The concept of this indicator is based on standard deviation and moving averages.
The next Metatrader indicator will be BMA or Band Moving Average in full. This indicator is used save the older Metatrader moving average’s function. 2 bands are added to the standard line at both 2% below and above it. These lines function as the strong-pull back levels.
Fisher is also another indicator available in the software. This indicator is used to find the maximum and the minimum levels on the given period. In other words, it looks on the potential of the trades within the period desired. This indicator is created based on custom algorithms and it uses histogram to outline the trend.
Pattern recognition master also plays as a very important role in becoming an indicator. It is based on Japanese candlestick recognition automatically. The candle is marked with respect with the code written and the pattern shows corresponding to the markings. It is used to find the signal value of the pattern recognized.
Apart from that, price alert is also one of the important indicators. Price alert notifies you the changes in price of various currencies through sound. Once there is a change, a sound will beep and you can look at which currency is changing. In case you don’t trust the trading method, use this for manual trading.
