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Modified Optimum Elliptic Filter
This indicator was coded on the basis of the article "Optimal Detrending" by John F. Ehlers in Stocks & Commodities V. 18:7 (20-29). You can find all the theory described there in detail. Modified Optimum Elliptic Filter has no input parameters. A comparison of Modified Optimum Elliptic Filter with 5-period Exponential Moving Average is presented in the chart below. As you can see MOEF has lower lag and is smoother.
I contributed the iMAX since there was no MOEF with a crossing that I was aware of at this site, and I see photos of MOEF indicators with two lines, but files that only contain versions of the MOEF with one line..???
Anyway, some differenences between iMAX and the other indicators since posted are that there are two lines built into iMAX to derive the benefit of the filter as used as as crossing indicator, and division by zero has been eliminated from the coding so there would be no error messessages in the MT4 journal which seems to cause some concern by some people who use an indicator and then get a journal full of errors. I have personally used this indicator in an EA for testing and it ran clean.... I don't use subroutines to initialize buffers when that can be done in the indicator's initialization function... and I don't really want to say too much more about the other coding... but could...
I have liked this indicator while I have used it and thought others would also benefit from an improved version, and might like to add their own improvements as well, which hopefully I will also see others contribute. The version I have contributed may be freely modified by anyone to suit themselves... reposted whatever helps...
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).
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!
Some comments I made changed here... because I am uploaded the most recent version of iMAXalert... and some features have changed since this original posting. The current iMAXalert is little more automatic, and more flexible too thanks to users suggestions here... you can enable alerts, arrow displays, change color schemes etc. and the new version is posted here and elsewhere in this thread.
Last edited by Wiley; 04-02-2009 at 09:39 AM.
Reason: iMAXalert2 superceeded by iMAXalert
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 ?
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;}
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.
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.
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...
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.
Linear Mode
