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Trendbolt? (MT4 indicator available in EasyLanguage?)


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Trendbolt? (MT4 indicator available in EasyLanguage?)

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  #1 (permalink)
 sstheo 
Holladay, Utah, USA
 
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When I was trading FX, I found a great free MT4 indicator called Trendbolt, from WorldClassTradingStars.



It NUMERICALLY summed MA's, MACD, and Stoch for various time frames into one nice number. It was AWESOME. And I think it also weighted the higher time frames a bit more. Here is a link to a page on MQL5 where I reviewed it many years ago, and it is still there for download.

https://www.mql5.com/en/forum/11409

I would love to find something similar in EasyLanguage for my Multicharts platform. Any suggestions?

As we all know, there is no holy grail, but this at least allowed me to easily COMPARE one instrument against another for likely continued strength or weakness.

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 ABCTG   is a Vendor
 
 
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sstheo,

I am not aware of such an indicator for Multicharts. One problem you face in MC is that you can't conveniently access additional time frames like you can in MT4. The time frames would either have to be present on your chart to compute indicators on them or you have to compute them internally out of the underlying chart time frame (which might not always be possible or lead to slightly different results).

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  #3 (permalink)
 sstheo 
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ABCTG View Post
sstheo,

I am not aware of such an indicator for Multicharts. One problem you face in MC is that you can't conveniently access additional time frames like you can in MT4. The time frames would either have to be present on your chart to compute indicators on them or you have to compute them internally out of the underlying chart time frame (which might not always be possible or lead to slightly different results).

Regards,

ABCTG

Great answer, thanks.

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  #4 (permalink)
biffhero
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@sstheo,

This shouldn't be that hard to code up in EasyLanguage, however, I need some help understanding what is going on.

I was able to add all seven timeframes to one MC chart, after which I'll move forward with adding each of the indicators to them, and then see what happens with that.

However, I need some clarification from you as to what is happening there. I downloaded the MQ4 file, and it is in a binary format that I cannot read, so I'll have to guess as to what is going on there.

Also, with respect to the "Trend BOLT" screenshots on the mql5.com website, each of them shows 21 arrows, and 12 of them are green. 12 / 21 = 57%. However, the left hand screenshot says "54% UpTrend" and the right hand screenshot says "62% DownTrend", neither of which are correct. So that's something I'm not sure about.

Thanks,
Rob

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  #5 (permalink)
 sstheo 
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Thanks for the reply. I grew up in San Jose and want to go back someday. Hold down the fort for me!

On Trendbolt, the various timeframes were selectable in the options. When I was only trading fast charts (for example) I only used the 4 smallest timeframes for comparison across different spot FX markets on MT4.

When I did this, I figured out that the numerical calculated sums were weighted differently, with the longer timeframes being weighted a bit higher.

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  #6 (permalink)
biffhero
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sstheo View Post
Thanks for the reply. I grew up in San Jose and want to go back someday. Hold down the fort for me!

On Trendbolt, the various timeframes were selectable in the options. When I was only trading fast charts (for example) I only used the 4 smallest timeframes for comparison across different spot FX markets on MT4.

When I did this, I figured out that the numerical calculated sums were weighted differently, with the longer timeframes being weighted a bit higher.

That's great, do you still have access to this indicator, maybe on MT? I have never seen that platform, so I don't know if you can even see the source code of the indicator there or not. As I said before, what I downloaded from the MT4 forums was a binary file that wasn't all that useful.

I can make this happen, and I'm happy to do it and get better at writing code in EasyLanguage. I will use input variables to allow you to select which timeframes you want, as well as to allow you to select the inputs to the MA and the MACD and the Stochastic. Do you know if it is an EMA or an SMA ?

Thanks,
Rob

PS. Do you want me to share code here or on github, or what?

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  #7 (permalink)
 sstheo 
Holladay, Utah, USA
 
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https://www.mql5.com/en/forum/11409

The indicator is still there for download.

MT4 is all over the place for free, but I don't think this indicator will reveal its source code. I may be wrong. I don't have MT4 installed any longer. Let me see if I can find MT4 for you to demo.

I just always assumed the MA was an SMA, but maybe it is an EMA....

Thanks for trying to do this!

Here is a link for downloading MT4 to make a demo account.
https://www.metatrader4.com/en/download

Attached Files
Register to download File Type: ex4 TrendBolt.ex4 (11.2 KB, 2 views)
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  #8 (permalink)
biffhero
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Ok, I think I made some progress.

1. MT doesn't want us to download MT4. Even after I tried to download what was clearly labeled MT4, I ended up with MT5 installed. At least, whatever I had installed was something that wanted to read .mq5 files.

2. MT4 is not MT5, and there is no way to get MT5 to read MT4 .ex4 files that I could find.

3. A file which ends with .ex4 is the executable, and the .mq4 file is the text file that we wish we had. However, I was able to get the .ex4 file loaded up into some random MT4 platform for some random Forex broker, and see what inputs they have set up. That will be a good start.

I don't know whether it is EMA or SMA for the 5/10, as all they have is "MovAvgType" in the inputs, and it defaults to 0. But I think this will help a lot.

I'll let you know when I have something, hopefully in the next day or two. This doesn't look too difficult. It probably won't look exactly like the screenshot you posted, but we can certainly get somewhere. Please let me know if you have any other thoughts.

Thanks,
Rob

PS. I need your input on weighting for the different timeframes. I'm going to start with not doing that, but to calculate the percentage of green vs red. I don't understand what the post at https://www.mql5.com/en/forum/11409 means when they say "numerically adds MA's, MACD and Stoch across all MT4 time frames." I would understand it if the phrase was "calculates the percentage these which is green vs red across the field", but I don't know how to "add an MA to a MACD to a Stoch". Do you?

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 ShadowFox 
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I have been silently following and attempting to figure out the trend percent calculation. I thought maybe just a simple 1,2,3,4,5,6,7 weighting. This would give 34 uptrend and 50 downtrend or 59.5% downtrend. Unless we can get more information from the code, it may provide more insight if we had more screenshots of the overall result to build a hypothesis around.

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  #10 (permalink)
biffhero
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ShadowFox View Post
I have been silently following and attempting to figure out the trend percent calculation. I thought maybe just a simple 1,2,3,4,5,6,7 weighting. This would give 34 uptrend and 50 downtrend or 59.5% downtrend. Unless we can get more information from the code, it may provide more insight if we had more screenshots of the overall result to build a hypothesis around.

I'm confused as to how you are doing the math.

Here is how I did it on the two pictures shown at https://www.mql5.com/en/forum/11409 .

Screenshot 1:

raw:
1, 3, 0, 2, 3, 3, 0

weighted:
1, 6, 0, 8, 15, 18, 0

combined:
48

48/84 = 57%

Screenshot 2:

raw:
3, 3, 2, 2, 1, 1, 0

weighted:
3, 6, 6, 8, 5, 6, 0

combined:
34

34/84 = 40%

I don't have a problem with going with that math, since it is 57/40 when the "authority" is showing 54/38. For that matter, why not do zero-weighting? I'll code both of them in the end math, so the user can choose which one they want to display.

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 ShadowFox 
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Okay I see the additional screenshot now. That's exactly what I get, just going to write out to show my thought process, but we are on the same page.

So M1 = 1 pt, M5 = 2 pt, M15 = 3 pt, M30 = 4 pt, H1 = 5 pt, H4 = 6 pt, D1 = 7 pt

Screenshot 1
Up = 1+2+4+5+6+2+4+5+6+2+5+6 = 48
Down = 3+7+1+3+7+1+3+4+7 = 36

48+36 = 84

Larger bias is up so 48/84 = 57% up bias (vs 54% shown)

Screenshot 2
Up = 34
Down = 50

Larger bias is down so 50/84 = 59.5% or rounded to 60% down bias (vs 62% shown)

Not exactly right but pretty close. That is why I was wondering if we could increase the sample size we might be able to hone in on where the discrepancies lie. Getting the code would be preferred but I do not have MT4 and don't want to go down that path either.

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biffhero
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ShadowFox View Post
Okay I see the additional screenshot now. That's exactly what I get, just going to write out to show my thought process, but we are on the same page.

So M1 = 1 pt, M5 = 2 pt, M15 = 3 pt, M30 = 4 pt, H1 = 5 pt, H4 = 6 pt, D1 = 7 pt

Screenshot 1
Up = 1+2+4+5+6+2+4+5+6+2+5+6 = 48
Down = 3+7+1+3+7+1+3+4+7 = 36

48+36 = 84

Larger bias is up so 48/84 = 57% up bias (vs 54% shown)

Screenshot 2
Up = 34
Down = 50

Larger bias is down so 50/84 = 59.5% or rounded to 60% down bias (vs 62% shown)

Not exactly right but pretty close. That is why I was wondering if we could increase the sample size we might be able to hone in on where the discrepancies lie. Getting the code would be preferred but I do not have MT4 and don't want to go down that path either.


Yep. I only calculated the up, and I got 57 and 40 as well. I'm going to go with that, then.
Thanks,
Rob

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biffhero
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I don't have the scoring done yet, and I don't know how to do the stochastic calculations. Here's a screenshot of how far I have gotten so far.

Also, I have set everything to minutes, would we rather have the exact same 7 timeframes as the MT indicator?

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 ShadowFox 
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biffhero View Post
I don't have the scoring done yet, and I don't know how to do the stochastic calculations. Here's a screenshot of how far I have gotten so far.

Also, I have set everything to minutes, would we rather have the exact same 7 timeframes as the MT indicator?

Looks interesting for sure. As far as the time frames, I have no idea as I haven't really used an indicator like this before. For futures I use 4 hr, 1 hr and five minutes for different indicators but I don't use any of these indicators in the suite. Maybe the OP can chime in.

Is it set up on data2,3,... If that's the case would it work for any timeframe the user wants as long as data2 < data3 etc.? Or are you applying code based on bar counts of data1?

Thanks for taking a stab at this. Not something I came in looking to use but will be interested in seeing how it works.

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biffhero
San Jose, CA
 
 
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ShadowFox View Post
Looks interesting for sure. As far as the time frames, I have no idea as I haven't really used an indicator like this before. For futures I use 4 hr, 1 hr and five minutes for different indicators but I don't use any of these indicators in the suite. Maybe the OP can chime in.

Is it set up on data2,3,... If that's the case would it work for any timeframe the user wants as long as data2 < data3 etc.? Or are you applying code based on bar counts of data1?

Thanks for taking a stab at this. Not something I came in looking to use but will be interested in seeing how it works.



You are completely correct, it is using data1 through data7. Any of them can be disabled, but I really hacked it together, and I haven't done any user testing. I didn't use any good coding standards or anything like that.

I am currently at an impasse, however. If you could provide input, that would be great.

1. This currently shows the historical values, as it is hijacking the plot statement, and using only the color for the data transfer. A side effect of this use pattern is that we have the history of the values, as shown across the chart. Or would you rather have a number that changes, and doesn't have any history to display?

2. I don't know how the Stochastic is calculated. Do you have access to MultiCharts? I am looking at "Stochastic SlowK", "Stochastic Fast", and "Stochastic Slow". Which is the one that should be done? All three, randomly picking one, and leaving the rest to an input? Even if I choose one of them to use, I'm not sure which of the returned variables from the different Stochastic functions is "stochastic". Once I get these decisions decided, I'll compare var99[0] with var99[1] and then if it's on the way up, it will be green.

Oh, I forgot. One more thing that's caused me problems, so I picked a random value and went with it. Are we going to be biased "towards green", or "towards red", or "towards neither" ?

Here's the code that I'm talking about:

A:
if (macdVar1[0] >= macdVar1[1]) then
else if (macdVar1[0] < macdVar1[1]) then

or

B:
if (macdVar1[0] macdVar1[1]) then
else if (macdVar1[0] <= macdVar1[1]) then

or

C:
if (macdVar1[0] macdVar1[1]) then
else if (macdVar1[0] < macdVar1[1]) then
else if (macdVar1[0] = macdVar1[1]) then


Thanks,
Rob

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