Helweg/Stendahl value charts ...

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mladen
Join date: 2006.10.03
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#1

Helweg / Stendahl value charts (from "Dynamic trading indicators" book)

I guess this one was not made for metatrader yet since it was not possible to draw histograms with one end not being zero. With metatrader 5 that is possible, so here it is (it is metatrader 5 version only since some of the things made in it are simply impossible to make in metatrader 4)

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Interpretation of these charts are rather straight forward - added labels on the chart to show what does the zone coloring mean. Of parameters :
Show chart as -> two possible choices : bars (as on first picture) and line charts (as on second picture)

When line chart is chosen you can select which price do you want to display. Choices are the "classical" ones (even though they do not show actual chosen prices, but the value chart equivalents)

atthebest
Join date: 2008.10.09
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#2

Thanks Boss

do you have a V for mt4 ?

cuz it is not working with my mt4 fxdd

mladen
Join date: 2006.10.03
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#3

...

Sorry

As I told it in first post, it is simply impossible to make it in metatrader 4 (things done in it are completely incompatible with metatrader 4)

regards

mladen

at the best:
Thanks Boss

do you have a V for mt4 ?

cuz it is not working with my mt4 fxdd
mladen
Join date: 2006.10.03
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#4

...

A variation (an addition to value charts)

Was curious how would a moving average look on this kind of chart and what signals could we get. At a first glance it looks rather good To turn off any of the moving averages, simply set their period to less than 2.

atthebest
Join date: 2008.10.09
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#5

oops i was in a ruch and went to the pics

sorry my mistake boss

atthebest
Join date: 2008.10.09
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#6

Dear sir

i'v downloaded the MT5 and but the inid to

C:\Program Files\MetaTrader 5\MQL5\Indicators\Examples

but when i restarted the mt5 i didnt see the indi with the list?? any help with my problem

mladen
Join date: 2006.10.03
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#7

...

In metatrader 5 you have to explicitly compile the code (it does not do it automatically)

Open it from editor and press F7 (but right now it is not going to work since the last update from a couple of hours ago causes errors even in their example indicators) So you will have to wait until they correct the BS happening right now

____________________________

As an illustration what happens right now at this moment (20:30 GMT roughly) : metatrader 5 returns me "-1 #IND" as a result for 20-1 in one place of one indicator. Will post here as soon as they correct it. OK?

regards

mladen

at the best:
Dear sir

i'v downloaded the MT5 and but the inid to

C:\Program Files\MetaTrader 5\MQL5\Indicators\Examples

but when i restarted the mt5 i didnt see the indi with the list?? any help with my problem
atthebest
Join date: 2008.10.09
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#8

aha Ok sir

Thanks for your feed back

leeb
Join date: 2005.12.18
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#9

Interesting charts..

Hi Mladen

Thanks for these interesting indicators - do they use any theory based on Market Profile at all ? I think they benefir from a confirming indicator such as the MA's you have added...

Also you and newdigital have made some great contributions - keep them coming - is one of the main reasons I joined the advanced elite section

Lee

mladen
Join date: 2006.10.03
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#10

...

Just an answer to the second part : do not worry, we do not plan to stop with new things here :) Quite the opposite ... preparing, preparing, preparing ... and will be posting

regards

mladen

leeb:
Hi Mladen

Thanks for these interesting indicators - do they use any theory based on Market Profile at all ? I think they benefir from a confirming indicator such as the MA's you have added...

Also you and newdigital have made some great contributions - keep them coming - is one of the main reasons I joined the advanced elite section

Lee
mladen
Join date: 2006.10.03
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#11

...

Got sick of waiting for metatrader 5 to correct errors causing almost every indicator in the last two days not to work, so decided to give a try to metatrader 4 version (along with a fact that some friends of mine told me about a commercial version of this and when we compared the two it turned out that the basic property of this indicator : the ranges between 8 and -8, is not honored in the one they had)

So here it is

___________________________

Parameters :
magicNumber-> this one is here for one reason and one reason only : to make possible placing two or more value chart indicators on the same chart. So use it to make difference between indicators, and that way they can "know" which is the window where they have to draw bars (this way you can get something like the first picture)

numberOfBars-> period for which to calculate value chart

showLineChart-> if true, it will display line instead of bars (like the second picture)

color... -> these are rather straight forward and their purpose is to set colors of bars

widthWick -> width of the bar wick

wickBody -> width of the bar body

linePrice-> price you want it to draw. It can be :
0 - close

1 - open

2 - high

3 - low

4 - median (high+low)/2

5 - typical (high+low+close)/3

6 - weighted (high+low+close+close)/4
ma1Period-> if set to >1 it will draw average on the chart ma1Type-> type of average to calculate. It can be :
0 - simple moving average

1 - exponential moving average

2 - smoothed moving average

3 - linear weighted moving average
ma1Price-> the price to use (see linePrice for details)

ma2Period-> if set to >1 it will draw average on the chart

ma2Type-> type of average to calculate (see ma1Type)

ma2Price-> the price to use (see linePrice for details)
_______________________________

So, as a conclusion : the main problem I told about which made it "not good" on metatrader 4 is solved with magicNumber (automatic addition of some random number fails in cases of templates and in cases when metatrader is not properly closed) so now you can use it without restrictions. Also, from now on (but that is more conclusion for myself ) first version 4 and then version 5. ND and me, we are waiting the last 2 days that someone notices that nothing works in version 5 of metatrader and still no reaction, so, from now on first the one that will work for sure and then the rest

mrtools
Join date: 2005.12.06
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#12
mladen:
Got sick of waiting for metatrader 5 to correct errors causing almost every indicator in the last two days not to work, so decided to give a try to metatrader 4 version (along with a fact that some friends of mine told me about a commercial version of this and when we compared the two it turned out that the basic property of this indicator : the ranges between 8 and -8, is not honored in the one they had)

So here it is

___________________________

Parameters :
magicNumber-> this one is here for one reason and one reason only : to make possible placing two or more value chart indicators on the same chart. So use it to make difference between indicators, and that way they can "know" which is the window where they have to draw bars (this way you can get something like the first picture)

numberOfBars-> period for which to calculate value chart

showLineChart-> if true, it will display line instead of bars (like the second picture)

color... -> these are rather straight forward and their purpose is to set colors of bars

widthWick -> width of the bar wick

wickBody -> width of the bar body

linePrice-> price you want it to draw. It can be :
0 - close

1 - open

2 - high

3 - low

4 - median (high+low)/2

5 - typical (high+low+close)/3

6 - weighted (high+low+close+close)/4

ma1Period-> if set to >1 it will draw average on the chart ma1Type-> type of average to calculate. It can be :
0 - simple moving average

1 - exponential moving average

2 - smoothed moving average

3 - linear weighted moving average

ma1Price-> the price to use (see linePrice for details)

ma2Period-> if set to >1 it will draw average on the chart

ma2Type-> type of average to calculate (see ma1Type)

ma2Price-> the price to use (see linePrice for details)

_______________________________ So, as a conclusion : the main problem I told about which made it "not good" on metatrader 4 is solved with magicNumber (automatic addition of some random number fails in cases of templates and in cases when metatrader is not properly closed) so now you can use it without restrictions. Also, from now on (but that is more conclusion for myself ) first version 4 and then version 5. ND and me, we are waiting the last 2 days that someone notices that nothing works in version 5 of metatrader and still no reaction, so, from now on first the one that will work for sure and then the rest

Thank you Mladen, but Christmas still a month away . Overlayed BBands on yours and commercial version using previous indicators data, major difference, yours more accurate, and Bands look right on yours.

mrtools
Join date: 2005.12.06
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#13

changing ma array with icustom

never mind will figure it out myself someday!!

mladen
Join date: 2006.10.03
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#14

mrtools,

i know that you removed your message, but since I did saw the original contents of if, let me answer anyway :

I am at a moment working on a more "usable way" ("usable" as in usable from other indicators) of coding this indicator. Reason is rather simple - when I added averages, was curios as if there is any advantage compared to the same thing on a "classical" chart. Here is just one example of the "same thing" compared :

And it is similar on all time frames and almost all symbols. It is not infallible, but it is god damn useful (especially when we take into account the overbought and oversold features of this indicator)

__________________________

From these it is obvious that it is worth working in this direction and adding different ways of filtering signals (with alb averages and indicators too) seems as a right thing to do

So, there will be new ones in this thread too

regards

mladen

mrtools:
never mind will figure it out myself someday!!
mrtools
Join date: 2005.12.06
Private message
#15
mladen:
mrtools,

i know that you removed your message, but since I did saw the original contents of if, let me answer anyway :

I am at a moment working on a more "usable way" ("usable" as in usable from other indicators) of coding this indicator. Reason is rather simple - when I added averages, was curios as if there is any advantage compared to the same thing on a "classical" chart. Here is just one example of the "same thing" compared :

And it is similar on all time frames and almost all symbols. It is not infallible, but it is god damn useful (especially when we take into account the overbought and oversold features of this indicator)

__________________________

From these it is obvious that it is worth working in this direction and adding different ways of filtering signals (with alb averages and indicators too) seems as a right thing to do

So, there will be new ones in this thread too

regards

mladen

Thanks Mladen,

Yeah that's exactly what i saw with this, know you are very busy so thought i would keep on trying and not concern you with it, but so far its kicking my butt!! But still trying, but looks like almost complete indicator needs to be changed to do this!!

Regards