What is your best technical indicator? Open Poll :)

[bourgenot]

For my, laguerre is better than RSI/STO, ( i work in 15 tf), try and compare :
//+------------------------------------------------------------------+
//| LaGuerre RSI v1.00.mq4 |
//| mladen |
//+------------------------------------------------------------------+
#property copyright "mladen modified by TIMEX"
#property link ""

#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 1
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_color2 Lime
#property indicator_color3 OrangeRed

//
//
// Alternative: Gama = 0.55,levels 0.75,0.45,0.15
//
//

extern double Gama = 0.5; //ootb was 0.77
extern int PriceType = 0;
extern double Level1 = 0.80;
extern double Level2 = 0.50;
extern double Level3 = 0.20;
extern bool ShowLevels = true;
extern bool ShowCrossings = true;
extern bool alertsOn = true;
extern bool alertsMessage = true;
extern bool alertsSound = false;
extern bool alertsEmail = false;
extern color LevelsColor = C'30,33,36';

//
//
//
//
//

double MainBuffer[];
double CUpBuffer[];
double CDnBuffer[];
double L0[];
double L1[];
double L2[];
double L3[];
string ShortName;


//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+

int init()
{
IndicatorBuffers(7);
SetIndexBuffer(0, MainBuffer);
SetIndexBuffer(1, CUpBuffer);
SetIndexBuffer(2, CDnBuffer);
SetIndexBuffer(3, L0);
SetIndexBuffer(4, L1);
SetIndexBuffer(5, L2);
SetIndexBuffer(6, L3);

//
//
//
//
//

if (ShowCrossings)
{
SetIndexStyle(1,DRAW_ARROW);
SetIndexStyle(2,DRAW_ARROW);
SetIndexArrow(1,159);
SetIndexArrow(2,159);
}
else
{
SetIndexStyle(1,DRAW_NONE);
SetIndexStyle(2,DRAW_NONE);
}

//
//
//
//
//

ShortName=MakeUniqueName("Laguerre Alert "," ("+DoubleToStr(Gama,2)+")");
IndicatorShortName(ShortName);
SetIndexLabel(0,"Laguerre RSI");
return(0);
}
int deinit()
{
DeleteBounds();
return(0);
}

//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+

int start()
{
int counted_bars=IndicatorCounted();
int i,limit;

if(counted_bars<0) return(-1);
if(counted_bars>0) counted_bars--;
limit = Bars - counted_bars;

//
//
//
//
//

for(i = limit; i >= 0 ; i--)
{
MainBuffer = LaGuerre(Gama,i,PriceType);
CUpBuffer = EMPTY_VALUE;
CDnBuffer = EMPTY_VALUE;
if (MainBuffer > Level1 && MainBuffer[i+1] < Level1) CUpBuffer = Level1;
if (MainBuffer < Level1 && MainBuffer[i+1] > Level1) CDnBuffer = Level1;
if (MainBuffer > Level3 && MainBuffer[i+1] < Level3) CUpBuffer = Level3;
if (MainBuffer < Level3 && MainBuffer[i+1] > Level3) CDnBuffer[i] = Level3;
}

//
//
//
//
//

if (ShowLevels) UpdateBounds();
if (alertsOn) CheckCrossings();
return(0);
}


//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
//
//
//
//
//

double LaGuerre(double gamma, int i, int priceType)
{
double Price = iMA(NULL,0,1,0,MODE_SMA,priceType,i);
double RSI = 0.00;
double CU = 0.00;
double CD = 0.00;


L0[i] = (1.0 - gamma)*Price + gamma*L0[i+1];
L1[i] = -gamma*L0[i] + L0[i+1] + gamma*L1[i+1];
L2[i] = -gamma*L1[i] + L1[i+1] + gamma*L2[i+1];
L3[i] = -gamma*L2[i] + L2[i+1] + gamma*L3[i+1];

if (L0[i] >= L1[i])
CU = L0[i] - L1[i];
else CD = L1[i] - L0[i];
if (L1[i] >= L2[i])
CU = CU + L1[i] - L2[i];
else CD = CD + L2[i] - L1[i];
if (L2[i] >= L3[i])
CU = CU + L2[i] - L3[i];
else CD = CD + L3[i] - L2[i];

//
//
//
//
//

if (CU + CD != 0) RSI = CU / (CU + CD);
return(RSI);
}


//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
//
//
//
//
//

void CheckCrossings()
{

if (CDnBuffer[0] == Level1) doAlert("level "+DoubleToStr(Level1,2)+" crossed down");
if (CUpBuffer[0] == Level3) doAlert("level "+DoubleToStr(Level3,2)+" crossed up");

}

//
//
//
//
//

void doAlert(string doWhat)
{
static string previousAlert="nothing";
static datetime previousTime;
string message;

if (previousAlert != doWhat || previousTime != Time[0]) {
previousAlert = doWhat;
previousTime = Time[0];

//
//
//
//
//

message = StringConcatenate(Symbol()," at ",TimeToStr(TimeLocal(),TIME_SECONDS)," Laguerre ",doWhat);
if (alertsMessage) Alert(message);
if (alertsEmail) SendMail(StringConcatenate(Symbol()," Laguerre line crossing"),message);
if (alertsSound) PlaySound("alert2.wav");
}
}


//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
//
//
//
//
//

string MakeUniqueName(string first, string rest)
{
string result = first+(MathRand()%1001)+rest;

while (WindowFind(result)> 0)
result = first+(MathRand()%1001)+rest;
return(result);
}

//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
//
//
//
//
//

void DeleteBounds()
{
ObjectDelete(ShortName+"-1");
ObjectDelete(ShortName+"-2");
ObjectDelete(ShortName+"-3");
}
void UpdateBounds()
{
if (Level1 > 0) SetUpBound(ShortName+"-1",1.0000 ,Level1);
if (Level2 > 0) SetUpBound(ShortName+"-2",Level2*1.01,Level2*0.99);
if (Level3 > 0) SetUpBound(ShortName+"-3",Level3 , 0.0000);
}
void SetUpBound(string name, double up, double down,int objType=OBJ_RECTANGLE)
{
if (ObjectFind(name) == -1)
{
ObjectCreate(name,objType,WindowFind(ShortName),0,0);
ObjectSet(name,OBJPROP_PRICE1,up);
ObjectSet(name,OBJPROP_PRICE2,down);
ObjectSet(name,OBJPROP_COLOR,LevelsColor);
ObjectSet(name,OBJPROP_BACK,true);
ObjectSet(name,OBJPROP_TIME1,iTime(NULL,0,Bars-1));
}
if (ObjectGet(name,OBJPROP_TIME2) != iTime(NULL,0,0))
ObjectSet(name,OBJPROP_TIME2, iTime(NULL,0,0));
}

[Radar]

Hey Taipan,

GOOD trend indy, my favorite

How does this work? Is it based on pips up/down velocity of 10 pips?

Right now the alert is there but don't know which currency pair is giving alert if you attach it to many charts. So please modify it to show which currency pair is giving alert on the message.

Went one better, and added timeframe as well

Have a look inside the original, and the edited one... Bugger all difference, really, but you'll know what to look for next time

Have fun!

Radar =8^)

[jako]

http://www.stevehopwoodforex.com/phpBB3 ... =27&t=3140

[bourgenot]

Jako, i like simple indicator ! sorry

[Radar]

Hey Bourgenot,

GOOD trend indy, my favorite

Where did you get that mini-chart indicator on the right of your screenshot? That's a nice, quick way of getting a top-down view of what a pair is doing, and where it my be headed

Thanks,

Radar =8^)

[Radar]

Jako, i like simple indicator ! sorry

There's a much later version of that indicator, and it's very, very good

It was designed for ForexHard's StairStepBreakOut strategy, here... http://www.forexfactory.com/showthread.php?t=302007

So many people tried to backtest the strategy and indicator, but what they didn't realize was that the indicator is the backtester... You configure the pip-range, number of bars, etc, and the indicator would look back 100 days on an M15 chart, and it would tell you how many trades would have been made, the percentages of winners and losers, and total pips earned. It really is a beautiful piece of work!

Now, if I could understand the code in that, I would call myself a coder

Have fun!

Radar =8^)

[jako]

Jako, i like simple indicator ! sorry

There's a much later version of that indicator, and it's very, very good

It was designed for ForexHard's StairStepBreakOut strategy, here... http://www.forexfactory.com/showthread.php?t=302007

So many people tried to backtest the strategy and indicator, but what they didn't realize was that the indicator is the backtester... You configure the pip-range, number of bars, etc, and the indicator would look back 100 days on an M15 chart, and it would tell you how many trades would have been made, the percentages of winners and losers, and total pips earned. It really is a beautiful piece of work!

Now, if I could understand the code in that, I would call myself a coder

Have fun!

Radar =8^)

The original indicator is much better. Only it lacks alert after the new box.

[jako]

Searches silence before the storm.

[jako]

Jako, i like simple indicator ! sorry

Beauty is irrelevant.

[fxdaytrader]

Where did you get that mini-chart indicator on the right of your screenshot? That's a nice, quick way of getting a top-down view of what a pair is doing, and where it my be headed

It is the 'Stratman Minichart indicator', find the newest version here (its free):
http://www.pipware.com/software/mini-charts.html

use google or forum searches for older versions, you may find e.g.
http://www.forexfactory.com/showthread.php?t=198729