This is a discussion on AllAverages within the Trading tools forums, part of the Trading Forum category; power[1,bet)=bet power(2,bet)=betē=bet*bet power(3,bet)=bet^3=bet*bet*bet etc Originally Posted by sohocool hi Zilliq, why squareroot ???( alpha = SQRT(bet)[Pow]) if pow = 1 ...
Hi,
Great indicator Igorad - thank you.
I have an idea for trading using all the different types of MA..
Using color_mode=1 on each of the different MAs (same ma_period=60 in this case) on 1 chart, you get this;
- this is EURUSD 15m chart (also has the AllAverageCandles on).
The Yellow boxes show areas where most of the MAs start turning.... somewhere in the box is the consensus view
and this is where we could trade in that direction i.e. where the majority of the MAs turn the same colour
Just an initial idea for further investigation.
Igorad - I'm wondering if there is some way to code a consensus mt4 indicator - using the UpTrend/DnTrend from the AllAverages - to make a histogram separate window indicator - showing the number of up/down MAs ?
This is the template of the screenshot in case it's any use to anyone;
ma_consensus.tpl
Cheers
Padnoter
Last edited by padnoter; 09-29-2013 at 02:39 PM.
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still early days, but I think there may be something in it - for entries... exits & SLs would need to be handled differently.
(my bad before - it was a 15m eurusd chart not a 5m - have updated original post)
I knocked up a quick histogram by butchering(sorry Igorad) the AllAverages just to give an idea of what I was thinking.
Here is the daily... & I've marked +15 / -15 as possible points of entry? There are 27 moving averages, is +15/-12 a good consensus? or maybe the slope of the histogram gives a better entry??
(this indi still not quite right - there are 27 MAs but some return 0 and won't get counted for some reason?? eg TEMA.. no idea!
FIXED - see posts below)
maybe some of the MAs should be removed (any that repaint, or any particularly slow/smooth movings ones).... do any repaint? I'm guessing the T3 basic might?
and of course a different MA value... 60 was just chosen at random really
it's an experiment.. work in progress
Last edited by padnoter; 09-29-2013 at 06:26 PM. Reason: reloaded screenshot & removed indi
Yes, this idea may work - I just turned this chart from M15 to H4 and D1 timeframe and you can see :
H4
D1
======
I mean - for lower timeframe than H4 - it will looks like a scalping sorry. But for H4 and D1 - we can get good entry. The only problem is where to exit. Because "exit on opposite signal" will not work in this case.
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Great, glad you can see something too..
Fixed the indi (it's still messy in the code & am sure Igorad could do a better job, if interested)
AllAverages_v3.1_consensus.mq4
I've also tried two different periods in the indi on same chart - 60 for main trend - entries in that direction. Plus a lower period (7) - to potentially show pullbacks for adding to position and/or re-entry for longer trends.
Here are Daily/H4/M15 charts... I've marked up a couple of examples on daily to show what I mean about pullback re-entries.
As you say, where to exit? Also where to set stoploss? One of this forum's trailing stops maybe, but which one - there are so many!
Question? Do you know how many of the 27 MAs repaint (and which ones?)
I only found this website yesterday, so have not had any chance to look at data & MAs in realtime yet
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some examples on 15m - scalp
hope the ideas are clear in picture. bars are small to show more - you need to look in MT4 to line up entry indicator & bars for a clearer idea of winners & losers
maybe cherry pick with a higher consensus(60) line - it's set to 15/-15... 20/25 or more might be better.
Here's the template btw;
ma_consensus_60_7.tpl
seems to work fairly well on all timeframes... but only created this w/e... so trade it on demo!!
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