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Medium-High-Low (MHL)
Exported with NinjaTrader 7.0.1000.31
Initial Release on August 12, 2016
This indicator is based on the article in
Stock & Commodities Magazine
, August 2016 edition titled “The Middle-High-Low Moving Average” written by Vitali Apirine. The base code upon which this indicator was built was written and freely contributed by NinjaTrader personnel. Although the NT version can be downloaded from an NT location it is package in this download for convenience. The original indicator is named MHL and the modified version is named fpgMHL.
The author describes MHL according to the formula:
MHL = (Highest high + Lowest low)/ 2
Where:
Lowest low = lowest low for the lookback period
Highest High = highest high for the lookback period
The author describes two MA choices, an SMA or EMA to be used for the MHL with the same MA type used for smoothing the MHL MA. The notation MHL SMA(3, 10) uses a 3 period SMA MHL to smooth a 10 period SMA and a MHL EMA(3, 10) uses a 3 period EMA MHL to smooth a 10 period EMA. In the article the author uses a second plot as the signal line which is of the same MA Type and period as the MHL MA. The signal line crossing the MHL MA results in the trade signal.
The MA periods recommend are; short = 5-20; medium = 20-60, and long = 100 or greater. The MHL periods of 5-15 for MA periods less than or equal to 50, and 15-50 for MA periods of 50-200.
Extensions:
The extensions to the indicator are as follows:
The signal line is automatically included using the same MA Type and period as the MHL plot line (see the exception in no. 2 below.
The user can select from approximately 25 other MA Types that are available on this site. If a MA Type other than the EMA or SMA the smoothing MA will be either the SMA (default) or the EMA according to a parameter switch setting (No. 02)
An option to include a second MHL plot line, This will be of the same MA Type as the primary MHL but different MHL and MA periods can be specified. For convenience the default values for the second MHL are double that of the primaries default values. However, the secondary ML period must be at least 1 greater that the primary MHL period and the secondary MHL MA period must be at least 5 greater that the primary MA period. These are arbitrary values.
Three signaling options are supported:
a.
None
– self explanatory
b.
Basic
– a value is exposed to the mhlBasicSignals IntSeries when the signal line crosses either the primary MHL or secondary MHL (if option is selected). The values used are (2, 1, 0, -1, -2) where the two’s values are for a Secondary line crossing, the one’s value are for a primary line cross, and the zero is for no crossing.
c.
Extended
– a 1 or -1 is exposed to the mhlExtendedSignal IntSeries when the primary MHL line crosses the secondary MHL providing the other plot lines are in the correct position relative to the Secondary MHL and to each other. Setting this option automatically sets the Secondary MHL option. No visual signals are produced.
Change Log:
7/12/2016 Initial release
Category
NinjaTrader 7 Indicators
Details:
Medium-High-Low (MHL)
Category:
NinjaTrader 7 Indicators
August 13th, 2016
Size: 59.72 KB
Downloaded: 792 times
1750
Cheech
Comments/ratings
zohar
August 17th, 2016 05:12 PM
thanks
stef
August 23rd, 2016 01:01 PM
Thanks !
JustinIsHere
August 29th, 2016 07:10 AM
Do you think you could add the option for audio alerts when the Primary MHL Plot crosses above/below the Signal Plot? Thanks in advance!
usdivers
December 30th, 2017 05:53 PM
Love love this indicator, great work! Any chance this will ever be coded for NT8?
CMEsignals
August 25th, 2019 04:25 PM
Great indicator - Thank you.
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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.