Indicators coded by community members
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- Joined: Mon Apr 01, 2013 3:55 am
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- Joined: Mon Jul 31, 2017 4:42 pm
FX Helper wrote:Hello,
Please download the attached archive, unpack it and add the .dll file into the Forex Tester 3 program via File -> Install -> Install New Indicator menu.
Thank you for the indicator, appreciated, but the MTF Moving Average i have on MT4 is quite different and way way more useful (i use it in all my trading setups). Example: i put it on 1Day chart with let's say period = 20 and minutes = 1440 (n° of minutes in a day). Obviously now the MA has a normal aspect as if it was an ordinary MA, so far so good. But the trick is if i switch to a 4Hour chart (or an 1Hour chart); now i see a stepped line that has exactly the same values in the same points of those in the 1Day chart. It is stepped because for an hour we have six 4hours candles. Please see it on MT4: it is worth a long explanation. In other words, if you use a MA daily (or weekly, or monthly...) as support or resistance, you can switch to lower timeframes (good for fine tuning the trade) and you keep to see the same MA, not another.
The indicator you posted has a weird behaviour, putting 1440 minutes has normal shape on 1Day chart but on 4Hours chart i see exactly the same shape shifted up or down. Not very useful.
My indicator is mandatory in my price-action based trading. I just purchased FT3 with 1 year of VIP data but until i have my indi ported on FT3 i can't do manual backtesting of my strategy. Is there a kind soul that can do it? It would be a great gift to all FT people. This indi is very useful, believe me. With it you can also create daily pivot points (MA period = 1; MA Timeframe = 1440; MA Method = 0; MA Shift = 1; MA AppliedPrice = 5), or daily lines that match the close of the previous day (the same as before but MA AppliedPrice = 0), or daily lines that match the max or the min of the previous day (the same as before but MA AppliedPrice = 2 or 3). These lines act very well as support or resistance, very useful in trading on 15-30-60 min. charts.
Many traders plot a 200 days MA on the chart, useful for see the annual trend (it is recommended on many books); with my indi you see on all timeframes not the 200 periods MA, but the 200 days MA. See the difference?
Well, i beg your pardon for me being too long; this is my first post and i am happy to belong to this forum.
- MTF MA.rar
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