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ValeoFX As far as I see the upper is RSI not Aroon oscillator. They are different indicators. Some more info on Aroon and Aroon oscillator (how are they calculated and used) can be found here : Finding The Trend With Aroon
Sorry Mladen, I should have blocked out the RSi. I have read the entire program about Aroon available from ChartSchool and are happy with the understanding of the indicator. It is just that the Oscillator seems to behave differently to the original.
Having said that, let us just step off the topic, plse. In future I will only show the indicator in question; my apologies.
Once again thank you for your time which is know is scarce.
Sorry Mladen, I should have blocked out the RSi. I have read the entire program about Aroon available from ChartSchool and are happy with the understanding of the indicator. It is just that the Oscillator seems to behave differently to the original.
Having said that, let us just step off the topic, plse. In future I will only show the indicator in question; my apologies.
Once again thank you for your time which is know is scarce.ValeoFX
Which one is the original?
The one that is corrected works exactly as the original Tushar Chande indicator does. As far as I am aware, and from what I saw, all the other versions for metatrader I have seen over the years are having the same error and will never be able to reach the extreme values as they should, so we can say that these versions : https://www.mql5.com/en/forum/173526 are the original Tushar Chande Aroon indicators
ValeoFX
Which one is the original?
The one that is corrected works exactly as the original Tushar Chande indicator does. As far as I am aware, and from what I saw, all the other versions for metatrader I have seen over the years are having the same error and will never be able to reach the extreme values as they should, so we can say that these versions : https://www.mql5.com/en/forum/173526 are the original Tushar Chande Aroon indicators=
I was referring to your "corrected version" you posted as I only use the "corrected" versions since. That is why I was "concerned" that the "corrected Oscillator" was giving these opposing signals as can be seen from my post.
I do appreciate your time and explanation immensely, Mladen. Thank you I will persevere with both until I am satisfied that I see the correctness of the Oscillator. I like the concept very much.
Regards,
Hello Mladen,
I have made a request to have a summed(composite) version of Gann T3 highlow activator histo at Post #6253
At the 3rd state (when all of the values don't show the same direction) the color of the histogram can be white or it can be half red half blue like i mentioned earlier. Thank you very much.
mandagozu81 Rsi summed can be done that way since there is no "break in values". With Gann high low activator you always have a sudden change in values when the trend is changing and that would make a kind of strange values resulting in the summed Gann high low indicator. Almost the same would be regarding the composite histo version : we would have to introduce a third state (when not all values are showing the same direction) Is that what you had in mind?
Hello Mladen,
I have made a request to have a summed(composite) version of Gann T3 highlow activator histo at Post #6253
At the 3rd state (when all of the values don't show the same direction) the color of the histogram can be white or it can be half red half blue like i mentioned earlier. Thank you very much.OK. that way the 3rd state is clarified and it can be done
Hi MrTools
Thank you sincerely for the "Auto_Fib_Pivots" tool.
Regards
Sylvester
Thank you Mladen,
I am eagerly waiting for the modified version of gann t3 highlow activator histogram. The modification details and the indicator itself are on post # 6253.
MoCS Indicator
Hi MLaden & MrTools
Do you perhaps have the MoCS Indicator (or can you create it) for MT4? I copy-pasted the explanation of it from the "ProfitableTrading" website. See summary write-up below:-
MoCS combines relative strength (RS) and the Moving Average Convergence/Divergence (MACD) indicator. RS highlights the best-performing stocks, while MACD uses moving averages of the closing price to determine when momentum is changing, helping traders spot trend reversals.
MoCS replaces the closing prices used in the traditional MACD formula with a RS calculation, the idea being that the momentum of RS can give an earlier signal when prices are changing directions. A positive MoCS shows momentum is rising, while a negative MoCS highlights a downtrend in price. The formula for MoCS is:
MoCS = (12-period EMA of (Stock/S&P 500)) – (26-period EMA (Stock/S&P 500))
Where:
-- EMA represents an exponential moving average.
-- Stockrepresents the closing price of the stock or ETF being studied.
-- S&P 500 represents the closing price of the S&P 500 index.
-- Stock/S&P 500is a measure of relative strength.
Best regards
Sylvester
Hi MLaden & MrTools
Do you perhaps have the MoCS Indicator (or can you create it) for MT4? I copy-pasted the explanation of it from the "ProfitableTrading" website. See summary write-up below:-
MoCS combines relative strength (RS) and the Moving Average Convergence/Divergence (MACD) indicator. RS highlights the best-performing stocks, while MACD uses moving averages of the closing price to determine when momentum is changing, helping traders spot trend reversals.
MoCS replaces the closing prices used in the traditional MACD formula with a RS calculation, the idea being that the momentum of RS can give an earlier signal when prices are changing directions. A positive MoCS shows momentum is rising, while a negative MoCS highlights a downtrend in price. The formula for MoCS is:
MoCS = (12-period EMA of (Stock/S&P 500)) – (26-period EMA (Stock/S&P 500))
Where:
-- EMA represents an exponential moving average.
-- Stockrepresents the closing price of the stock or ETF being studied.
-- S&P 500 represents the closing price of the S&P 500 index.
-- Stock/S&P 500is a measure of relative strength.
Best regards
SylvesterSylvester
Been checking that site and it seems that the formula how they published it is wrong. It does not have any sense to calculate it that way (values of the oscillator would not be what they are showing at pictures at all if the formula they are talking about would be applied). Will try to find the exact formula somehow. What I have found is actually not even similar to what have been described in words :
Also, in metatrader there is a problem of a complete lack of some indices at some brokers and it would make it work on some brokers only
It seems that the hunch was correct : here is a link with with much more detail about the MoCS (The momentum of comparative strength) : Momentum of comparative strength - StockFetcher.com Stock Screener
In my broker list of indices I do have S&P 500(it is called _US500 at my broker) so it will be possible to make that indicator (at least at my broker). Those who do not have it will have to find some other "underlying" index for that purpose