IMax Indicator - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Thanks beppi! Wow...
Yours was such an inspiring reply, that I decided to code up an alert version of the iMAX. I have had it running during the night on the M1 chart and it appears to behave itself very well.
Just a couple of notes about it's use... (there are brief notes in the code, so you can refer to those too).
The alerts on MT4 are notoriously tricky, and I am trying to alert the user at the earliest possible moment... so the alerts go off on the open bar. The alert will go off when there is an indicator crossing and a minimal threshold is exceeded. The thresholds are preset, and should work fine in most cases. If you wish to adjust the thresholds for the various charts, refer to the notes in the code.
Since an alert condition can persist, there is a parameter for setting the frequency of the alerts. I have it set for stopping alerts from repeating any sooner than every 20 seconds plus one tick time, and this seems about right for me. But you can change the setting when you place the indicator on the chart and the parameters window opens.
I also marked in the code where to place a sound file if you wish to add one to the alert, or even to replace the existing alert.
I don't trade manually myself, but last night watching the iMAX alert running, I was almost tempted to start trading.... manually.... I can't believe it... well anyway good luck to everyone, and just have fun, don't get too serious!Thanks Wiley... amazing.. i love it
Just a suggestion, could you make a MTF version for Imax indicator ?
KG
Thanks beppi! Wow...
Yours was such an inspiring reply, that I decided to code up an alert version of the iMAX. I have had it running during the night on the M1 chart and it appears to behave itself very well.
Just a couple of notes about it's use... (there are brief notes in the code, so you can refer to those too).
The alerts on MT4 are notoriously tricky, and I am trying to alert the user at the earliest possible moment... so the alerts go off on the open bar. The alert will go off when there is an indicator crossing and a minimal threshold is exceeded. The thresholds are preset, and should work fine in most cases. If you wish to adjust the thresholds for the various charts, refer to the notes in the code.
Since an alert condition can persist, there is a parameter for setting the frequency of the alerts. I have it set for stopping alerts from repeating any sooner than every 20 seconds plus one tick time, and this seems about right for me. But you can change the setting when you place the indicator on the chart and the parameters window opens.
I also marked in the code where to place a sound file if you wish to add one to the alert, or even to replace the existing alert.
I don't trade manually myself, but last night watching the iMAX alert running, I was almost tempted to start trading.... manually.... I can't believe it... well anyway good luck to everyone, and just have fun, don't get too serious!Wiley... just found an error on alert message.. Just change Switch(period()) on your source code to:
switch(Period())
{case 1: Chart = "M1"; Threshold = 1;break;
case 5: Chart = "M5"; Threshold = 1;break;
case 15: Chart = "M15"; Threshold = 2;break;
case 30: Chart = "M30"; Threshold = 2;break;
case 60: Chart = "H1"; Threshold = 5;break;
case 240: Chart = "H4"; Threshold = 10;break;
case 1440: Chart = "D1"; Threshold = 10;break;
case 10080: Chart = "W5"; Threshold = 30;break;
case 43200: Chart = "MN"; Threshold = 30;break;}
KG
Bookkeeper - Complete Setup
Hi Wiley,
thank's for your dedicated and fast work!
But i use the iMAX only in interaction with other indicators to build good entry signals.
The alerts from iMax stand alone are too noisy for me.
For "indemnification" i post my complete "Bookkeeper"-Setup (my memorial to "bookkeeper" with indicators from his website).
It show's good entrys.
For faster signals you can use the "HP"-indicator (small aqua-line in the right window of the picture) instead of the aqua-line from "Snake"-indicator.
But be carefull!
The "HP"-indicator repaints very fast.
Thanks kang_gun
Indeed there is a coding defect, and when I up loaded I uploaded the wrong copy of the program... the intended had more notes, but I think this is fine, and I will correct the "switch" error... seemed to be executing though, and apparently went right through the compiler! You are truly amazing, and helpful to find this defect... good work, and thanks.
Now wait a second, I just checked my copy of the file I uploaded, and the switch function is properly capitalized... are you sure you might not have inadvertantly modified, and then forgotten about it? Because my copy has the correct syntax, after checking... I was wondering how this could have possibly gone through the compiler undetected on my end, when I know the compiler will not accept a miscapitalized "switch" function... so a mystery appears to be in the making here... at least for me.
MTF version?
An MTF version is a very innovative idea...
iMax uses no indicators within it to adjust periods... and I haven't really thought about this, and I think it needs to be thought through... I am not sure when I will have more time to consider this and maybe I will, meanwhile maybe some other even more experienced members could give their thoughts about implimenting an MTF version...
HP indicator
beppi
I looked at the HP indicator, and at first was impressed by it's amazing ability to detect trend changes... except you are absolutely right... it repaints the past, and when I have iMax and HP together, on bar 0 they cross at the same time... iMax simply doesn't rewrite history to make itself look better later, or after the fact... anyway, thanks for the contributions, and maybe there is some combination of indications that do work well... but I just can't imagine how rewritten histories can help with entry signals... maybe you or someone else can explain it better for me.
For me, I am interested in automated trading, and signals have to be real, precise, and don't change themselves after the fact to be useful.
MTF version....
I have an initial opinion now about an MTF version of this indicator...
iMax doesn't use indicators within it that carry array data that can be directly manipulated, so arrays have to be created to store high and low bar data on all the chart timeframes, and Ehler's formula applied to that data, and the results stored. Then, the question is what kind of display is most useful for that information... a Guppy like display of lines on the charts, or "Forex Freedom Bar" kind of display... and I tend to think the latter would be best.
However, I have been coding EA's, and indicator's is something I have little experience with... though I think I could do this. I think this is a very worthwhile undertaking, but I know there are people here with the kind of experience that would make translating this indicator in it's present form into an MTF type indicator an efficient task. For me, it would possibly be a great learning experience, but not necessarily efficient for me at this time... so I will wait and see if anyone here with more experience with MTF indicator coding will take this up as a project to contribute... and if not... then maybe I might...
Learning from the past?
I made a comment earlier that I think could be discussed... I said "but I just can't imagine how rewritten histories can help with entry signals..."
And it is true, I haven't tried to imagine how this could be useful, but it might be... here is an interesting observation... If you overlay the HP indicator signal which has been rewritten by the indicator, over a MOEF baseline signal, single phase, they show a dynamite entry point... but it isn't true, because HP rewrote it's history...
However, is it possible to take an MOEF signal as a reference, and say "this is what I am basing my decisions for trading on, and then compare that to what HP has modified in it's history, and then ask yourself "but this what I should have done" and then create an error correction signal in what you are actually doing now...
I think this could be well worth some thought...
beppi
I looked at the HP indicator, and at first was impressed by it's amazing ability to detect trend changes... except you are absolutely right... it repaints the past, and when I have iMax and HP together, on bar 0 they cross at the same time... iMax simply doesn't rewrite history to make itself look better later, or after the fact... anyway, thanks for the contributions, and maybe there is some combination of indications that do work well... but I just can't imagine how rewritten histories can help with entry signals... maybe you or someone else can explain it better for me.
For me, I am interested in automated trading, and signals have to be real, precise, and don't change themselves after the fact to be useful.great indictor could you make mtf version?
New Entry Version
Hi Wiley,
you'r right.
Entry signals from repainting indicators locking good but for trading you need to correct the problem with your brain and trade manual.
Think i have a partial solution for your problem to make EA's that really work in all market conditions.
If it takes an EA that really work successful in all market conditions we are all Billionares!
But, believe me, there's no way for on this world.
Lock at the picture and use the template with the indicators i postet before.
Good Luck!