New Indicator

+ New Comment
TEAMTRADER
Join date: 2008.02.21
Private message
#1

Could someone please make a new indicator.

It will be called MMcMA - a multiple McNicholl moving average indicator with the following parameters:

20 Lime Width 2

27 Aqua Width 2

34 Magenta Width 2

55 Blue Width 4

69 Deep Sky Blue Width 2

76 Yellow Width 2

89 Red Width 2

103 White Width 2

Thank you.

TEAMTRADER

mntiwana
Join date: 2013.03.26
Private message
#2
TEAMTRADER:

Could someone please make a new indicator.

It will be called MMcMA - a multiple McNicholl moving average indicator with the following parameters:

20 Lime Width 2

27 Aqua Width 2

34 Magenta Width 2

55 Blue Width 4

69 Deep Sky Blue Width 2

76 Yellow Width 2

89 Red Width 2

103 White Width 2

Thank you.

TEAMTRADER

what use of it.
TEAMTRADER
Join date: 2008.02.21
Private message
#3

The McNicholl ma is in my opinion the best of the moving averages.

I just would like the indicator made so it can be used in place of ema based multiple moving averages.

Is that explanation sufficient?

TEAMTRADER

poruchik
Join date: 2006.09.05
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#4
poruchik
Join date: 2006.09.05
Private message
#5

try. Based guppy

I am not coder 

TEAMTRADER
Join date: 2008.02.21
Private message
#6

Thank you Poruchik for the indicator - the ma's unfortunately are not McNicholl (or close copy of DEMA) but I very much appreciate your reply.

Guppy uses ema's whereas my version would use double exponential moving averages (DEMA).

Thanks again. 

Regards

TEAMTRADER 

mladen
Join date: 2006.10.03
Private message
#7
TEAMTRADER:

Thank you Poruchik for the indicator - the ma's unfortunately are not McNicholl (or close copy of DEMA) but I very much appreciate your reply.

Guppy uses ema's whereas my version would use double exponential moving averages (DEMA).

Thanks again. 

Regards

TEAMTRADER 

Why don't you use this one : https://www.forex-tsd.com/forum/trading-systems/19180-gmma-s/page2#comment_1836671 ?
TEAMTRADER
Join date: 2008.02.21
Private message
#8

Thank you - do you have the mq4 file as I would need to do some adjustments to the periods.

TEAMTRADER

mladen
Join date: 2006.10.03
Private message
#9
TEAMTRADER:

Thank you - do you have the mq4 file as I would need to do some adjustments to the periods.

TEAMTRADER

mq4 file for that indicator was not posted
TEAMTRADER
Join date: 2008.02.21
Private message
#10
mladen:
mq4 file for that indicator was not posted

That is a pity, it would have been ideal but the settings are completely wrong for McNicholl.

I have ema, smma and sma multiple moving average indicators but they are not suitable for my purpose.

Is it something that can be coded for a new indicator?

Thanks

TEAMTRADER 

FrancoisT
Join date: 2016.02.12
Private message
#11
Greetings,
Just a question: why you need all those moving averages instead to use just 2: the smallest and the highest periods?
mladen
Join date: 2006.10.03
Private message
#12
FrancoisT:
Greetings,
Just a question: why you need all those moving averages instead to use just 2: the smallest and the highest periods?

Maybe the best explanation is the description by Daryl Guppy - he probably explained it the best:

GUPPY MULTIPLE MOVING AVERAGE ™

This indicator was developed by Daryl Guppy. It is fully explained in TREND TRADING. Captures the inferred behaviour of traders and investors by using two groups of averages. Uses fractal repetition to identify points of agreement and disagreement which precede significant trend changes.

 

APPLICATION

Applied to understand the nature and character of the trend. Used to assess the degree and extent of trading activity. Excessive trading activity can destabilize strong trends. Trend analysis enables more effective selection of appropriate trading strategies such as breakout, trend continuation etc. Can be applied to long side and short side trading. Can be applied to intraday trading. Also used for longer term investment style analysis.

TACTICS

  • Join established trends at points of price weakness

  • Join established trends breaking to new highs

  • Trade breakouts using rally dips and rebounds

  • Trade downtrend rallies as rallies rather than trend breaks

  • Recognise trend breaks as they develop

 

RULES

  • Degree and nature of separation in the long term group define trend strength and weakness

  • Degree and nature of separation in the short term group define the nature of trading activity.

  • Degree and nature of separation between the two groups of moving averages define the character of the trend.

  • Compression shows agreement on price and value.

  • Compression of both groups at the same time indicate major re-evaluation of stock and potential for a trend change

  • Trade in the direction of the long term group of averages

  • The relationships between the groups provide the necessary information about the nature and character of the trend.

  • Do not use as a moving average crossover tool

 

ADVANTAGES

  • Enables effective analysis of the trend environment

  • Improves selection of the appropriate trading tactics 

  • Better understanding of trend strength

  • Effective evaluation of unusual price movements, such as dips and spikes

  • Effective understanding of trading activity and behavior

 

DISADVANTAGES

  • Not effectively applied to  trend less stocks

  • Cannot be applied to all trending stocks

  • Do not use as a moving average crossover signal