OVERBOUGHT/OVERSOLD Indicator TMA channel

Viewing 15 posts - 1 through 15 (of 28 total)

1 2 →

Author

Posts
05/09/2017 at 7:27 AM #34878 quote

RAAAMMY
Participant

Average

I have just moved to ProReal from FXCM and they had a great OBOS (overbought/Oversold Indicator) which is a .lua file

I have seen this same indicator on MT4, but not as good as the .lua file

Has anyone got the indicator or code for this indicator in ProReal?

05/09/2017 at 9:33 AM #34896 quote

RAAAMMY
Participant

Average

The .lua indicator is available from fxcodebase.com

here is the link –

http://www.fxcodebase.com/code/viewtopic.php?f=17&t=59406&hilit=extreme+tma+indicator

05/09/2017 at 8:15 PM #34986 quote

StantonR
Participant

Senior

Hi Raaammy

What are the rules for the indicator else you could use a simple RSI indicator to check overbought or oversold conditions.

Or if you could extract the code from the .lua file we can try duplicate it.

05/09/2017 at 8:25 PM #34987 quote

StantonR
Participant

Senior

Found This on the site.

TMA center channel bands

05/09/2017 at 8:45 PM #34990 quote

Nicolas
Keymaster

Master

Original TMA is a repainting indicator because it uses the future next candlestick to calculate. The one posted into the Library doesn’t repaint.

05/09/2017 at 10:49 PM #34994 quote

RAAAMMY
Participant

Average

I downloaded the file, but when I attached it to the chart, instead of being displayed over the price, it was in a separate box along the bottom of the chart – which is useless!

05/10/2017 at 2:46 AM #34996 quote

StantonR
Participant

Senior

Hi Raaammy

On the Price chart click the wrench next to the word “Price” then click add indicator. This will overlay the indicator over the price.

Below is a video I made on how to use PRT charts.

https://www.youtube.com/watch?v=V5-h_xzEd1A

05/10/2017 at 5:34 AM #34997 quote

Madrosat
Participant

Master

Hello

Here the code .lua is this code repainting ???

or is only the tma code whos is repainting ??

–+——————————————————————+
–| Copyright Â© 2016, Gehtsoft USA LLC |
–| http://fxcodebase.com |
–| Support our efforts by donating |
–| Paypal: https://goo.gl/9Rj74e |
–+——————————————————————+
–| Developed by : Mario Jemic |
–| mario.jemic@gmail.com |
–| BitCoin : 15VCJTLaz12Amr7adHSBtL9v8XomURo9RF |
–+——————————————————————+

function Init()
indicator:name(“Extreme TMA line Slope indicator”);
indicator:description(“Extreme TMA line Slope indicator”);
indicator:requiredSource(core.Tick);
indicator:type(core.Oscillator);

indicator.parameters:addGroup(“Calculation”);
indicator.parameters:addInteger(“TMA_Period”, “TMA period”, “”, 56);
indicator.parameters:addInteger(“ATR_Period”, “ATR period”, “”, 100);
indicator.parameters:addDouble(“TrendThreshold”, “TrendThreshold”, “”, 0.5);
indicator.parameters:addBoolean(“Redraw”, “Redraw”, “”, true);
indicator.parameters:addBoolean(“Show”, “Show Threshol Level”, “”, true);

indicator.parameters:addGroup(“Style”);
indicator.parameters:addColor(“TMA_NEclr”, “Slop Line neutral Color”, “Neutral Color”, core.rgb(128, 128, 128));
indicator.parameters:addColor(“TMA_UPclr”, “Slop Line UP Color”, “UP Color”, core.rgb(0, 255, 0));
indicator.parameters:addColor(“TMA_DNclr”, “Slop Line DN Color”, “DN Color”, core.rgb(255, 0, 0));
indicator.parameters:addInteger(“TMAwidth”, “Width”, “Width”, 2, 1, 5);
indicator.parameters:addInteger(“TMAstyle”, “Style”, “Style”, core.LINE_SOLID);
indicator.parameters:setFlag(“TMAstyle”, core.FLAG_LINE_STYLE);

indicator.parameters:addGroup(“OB/OS Levels”);
indicator.parameters:addColor(“level_overboughtsold_color”, “Line Color”,””, core.rgb(128, 128, 128));
indicator.parameters:addInteger(“level_overboughtsold_width”,”Line width”,””, 1, 1, 5);
indicator.parameters:addInteger(“level_overboughtsold_style”, “Line Style”,””, core.LINE_SOLID);
indicator.parameters:setFlag(“level_overboughtsold_style”, core.FLAG_LEVEL_STYLE);

end

local first;
local source = nil;
local TMA_Period;
local ATR_Period;
local ATR_Mult;
local TrendThreshold;
local Redraw;
local TMA=nil;
local ATR;
local Slope;

local Show;
function Prepare()
source = instance.source;
TMA_Period=instance.parameters.TMA_Period;
ATR_Period=instance.parameters.ATR_Period;
TrendThreshold=instance.parameters.TrendThreshold;
Show=instance.parameters.Show;
Redraw=instance.parameters.Redraw;

assert(core.indicators:findIndicator(“TATR”) ~= nil, “Please, download and install TATR.LUA indicator”);
ATR=core.indicators:create(“TATR”, source, ATR_Period);

first = math.max(source:first() ,ATR.DATA:first(),2*TMA_Period);
local name = profile:id() .. “(” .. source:name() .. “, ” .. instance.parameters.TMA_Period .. “, ” .. instance.parameters.ATR_Period .. “, ” .. instance.parameters.TrendThreshold .. “)”;
instance:name(name);

TMA= instance:addInternalStream(0, 0);
Slope = instance:addStream(“Slope”, core.Line, name .. “.Slope”, “Slope”, instance.parameters.TMA_NEclr, first+TMA_Period);
Slope:setWidth(instance.parameters.TMAwidth);
Slope:setStyle(instance.parameters.TMAstyle);
if Show then

Slope:addLevel(instance.parameters.TrendThreshold, instance.parameters.level_overboughtsold_style, instance.parameters.level_overboughtsold_width, instance.parameters.level_overboughtsold_color);
Slope:addLevel(-instance.parameters.TrendThreshold, instance.parameters.level_overboughtsold_style, instance.parameters.level_overboughtsold_width, instance.parameters.level_overboughtsold_color);

end
end

function Update(period, mode)

ATR:update(mode);

if period < ATR.DATA:first() then
return;
end

if period < TMA_Period then
return;
end

if period == source:size()-2 then
for i = first, period , 1 do
Logic(i, mode);
end
elseif period == source:size()-1 then
Logic(period, mode);
end

end
function Logic (period, mode)

local i;
local ii=TMA_Period;
local LastPeriod;
if period==source:size()-1 then
LastPeriod=true;
else
LastPeriod=false;
end
while ii>0 do
if not(LastPeriod) then
ii=0;
else
ii=ii-1;
end
local Sum=0;
local SumW=(TMA_Period+2)*(TMA_Period+1)/2;
for i=0,TMA_Period,1 do
Sum=Sum+(TMA_Period-i+1)*source[period-i];
if Redraw then
if i<=source:size()-1-period and i>0 then
Sum=Sum+(TMA_Period-i+1)*source[period+i];
SumW=SumW+(TMA_Period-i+1);
end
end
end
TMA[period]=Sum/SumW;
Slope[period]=(TMA[period]-TMA[period-1])/(0.1*ATR.DATA[period]);

if Slope[period]>TrendThreshold then
Slope:setColor(period,instance.parameters.TMA_UPclr);
elseif Slope[period]<-TrendThreshold then
Slope:setColor(period,instance.parameters.TMA_DNclr);
else
Slope:setColor(period,instance.parameters.TMA_NEclr);
end

end
end

05/10/2017 at 9:53 AM #35018 quote

Nicolas
Keymaster

Master

@Madrosat

In this LUA version, you can choose if you want the indicator to redraw or not, when it is true, the calculation differs and take into consideration the next candlestick which is not known of course in real time. So, because of the global loop over the whole price history, the repaint behavior doesn’t mind in the past, but it is quite annoying when you are trading it live.

Also the code you shared is the “slope” indicator, not the overbought/oversold channel one that RAAAMMY mentioned previously.

05/10/2017 at 1:15 PM #35057 quote

RAAAMMY
Participant

Average

Thanks everyone for their comments.

Here is a chart (FXCM Trading Station) showing the TMA with the ATR Multiplier set to 3.9, Trend threshold 0.5, and TMA period 56.

The top OBOS is set to 3, and the bottom OBOS is set to 9.

The yellow dashed line is a 35 EMA.

This is the charts I had with FXCM and want to replicate with ProReal.

TMA-and-OBOS.png

05/10/2017 at 1:38 PM #35061 quote

RAAAMMY
Participant

Average

I have tried to find the code for this OBOS and the FX Codebase refers me to the attached chart and code.

2017-05-10_1333.png 2017-05-10_1333_001.png

05/10/2017 at 5:01 PM #35095 quote
Nicolas
Keymaster

Master
I took the code from the TMA channel we already have in the library and changed the variables settings accordingly to your needs, this is the code:
```
// parameters
HalfLength = 56
AtrLength = 100
AtrMultiplier = 3.9

avg = average[1](close)

sum = (HalfLength+1)*avg
sumw = (HalfLength+1)
k = HalfLength

for j = 1 to HalfLength do
k = k-1
sum = sum+(k*avg[j])
sumw = sumw+k
next

buffer1 = sum/sumw

myrange = AverageTrueRange[AtrLength](close)*AtrMultiplier

buffer2 = buffer1+myrange
buffer3 = buffer1-myrange

RETURN buffer1 coloured(0,220,0) as "TMA", buffer2 coloured(220,0,0)  as "upper band", buffer3 coloured(0,220,0) as "lower band"
```
Of course, it WILL NEVER be as smooth and as accurate like your example, because this indicator DOES NOT REPAINT THE PAST. I think I could change its behavior to repaint, but do you really want it?

About the OBOS indicator, would be please copy/paste the code here instead of a picture? It would be easier for me to translate it to PRT, thank you.

tma-channel-center-1-minute.png
05/10/2017 at 5:12 PM #35100 quote

RAAAMMY
Participant

Average

Hi Nicholas,

Thanks for your help.

As for the OBOS, I had a look in the indicators section, and after changing the settings (quite a few times), I found the AFL Winner Oscillator is about as good as I can get.

All the best.

RAAAMMY

05/11/2017 at 6:29 AM #35145 quote

Madrosat
Participant

Master

Hello Nicolas

I do’nt know if they are strategies with repaint indicator and if it is possible ??

But for me I have not

Thanks

05/11/2017 at 9:34 AM #35170 quote

Nicolas
Keymaster

Master

@RAAAMMY

Good to know you found what you want in the code library section. I’m sure a lot of people would be glad to know how you are using these 2 indicators into your own trading, would you be kind enough to tell us more about it? Many thanks 🙂

@Madrosat

It’s not possible to launch realtime trading strategies with repaint indicator into ProOrder (with DPO or zigzag for instance).
Author

Posts