Elite indicators :) - page 8

Projection Bands and Projection Oscillator

I found interesting indicators, namely Projection Bands and Projection Oscillator.

I found them written for VTTrader here and for MetaStock here.

The description of Projection Oscillator can be found here.

I have not found these ones for MetaTrader though .

Could anybody please help to find them or one of the best MT4 programmers to translate them?

Thanks! This one compiles fine. That's strange..

Just want to remind about one good indicator: Volatility Quality Index.

The thread about market profile indicator.

Indicator which colors the bars.

Nice! Looks a lot like the Chop Zone Indicator (CZI) used with Woodie's stuff.

Just got PM from Igorad that he developed indicator similar with STIX (attached).

May somebody tell what is STIX?

Overview

STIX is a short-term trading oscillator that was published in The Polymetric Report. It compares the amount of volume flowing into advancing and declining stocks.

Interpretation

According to The Polymetric Report:

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STIX usually ranges between +42 and +58.

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If STIX gets as low as 45, the market is almost always a buy, except in a raging bear market.

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The market is fairly overbought if STIX rises to 56; and except in a new bull market, it's wise to sell if STIX should go over 58.

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Traders and investors should modify these rough rules to suit their own objectives.

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In normal markets, STIX rarely gets as high as 56 or as low as 45, so rigid use of these rules of thumb would keep you inactive most of the time. For active accounts, the rules might be made much less stringent.

Table 13

Extremely Overbought greater than 58

Fairly Overbought greater than 56

Fairly Oversold less than 45

Extremely Oversold less than 42

Example

The following chart shows the S&P 500 and the STIX indicator.

I drew "buy" arrows when the STIX fell below, and the rose above, the oversold level of 45. I drew "sell" arrows when the STIX rose above, and then fell below, the overbought level of 56.

Calculation

STIX is based on a variation of the Advance/Decline Ratio:

The STIX is a 21-period (i.e., 9%) exponential moving average of the above A/D Ratio:

http://www.marketscreen.com/help/AtoZ/default.asp?hideHF=&Num=98

ND can you tell me how the ChoppyBars indicator works? Blue is for Bullish, Red is for Bearish.. Yellow is for..... ??