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Trendbolt? (MT4 indicator available in EasyLanguage?)


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Trendbolt? (MT4 indicator available in EasyLanguage?)

  #1 (permalink)
 
sstheo's Avatar
 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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  #2 (permalink)
 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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ABCTG

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  #3 (permalink)
 
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 sstheo 
Holladay, Utah, USA
 
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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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biffhero
San Jose, CA
 
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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)
 
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 sstheo 
Holladay, Utah, USA
 
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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
San Jose, CA
 
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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)
 
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 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
Elite Membership required to download: TrendBolt.ex4
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  #8 (permalink)
biffhero
San Jose, CA
 
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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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  #9 (permalink)
 
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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
San Jose, CA
 
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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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