NCA 2: THE CHARTBOOK

[IgazI]

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

I've never had to worry about charts. . .
I'll make my own if I have to

Any platform that has a DOM and allows you to code your own indicators should work just fine.

[aliassmith]

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

Are they moving away from MT5?
All I can tell is Apple removed the app from the mobile store as a woke play in the US.
What have you witnessed?

[Don_xyZ]

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

I've never had to worry about charts. . .
I'll make my own if I have to

Any platform that has a DOM and allows you to code your own indicators should work just fine.

Well, it's gonna be a pain in the a$$ to re-code everything I've built up coz I'm just an amateur coder.

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

Are they moving away from MT5?
All I can tell is Apple removed the app from the mobile store as a woke play in the US.
What have you witnessed?

Gone from Apple store and Google play.
If it asks for an update, don't do it.
Hope it would be between TV or cTrader but it would be better if they just stick to MT4/5.

[aliassmith]

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

I've never had to worry about charts. . .
I'll make my own if I have to

Any platform that has a DOM and allows you to code your own indicators should work just fine.

Well, it's gonna be a pain in the a$$ to re-code everything I've built up coz I'm just an amateur coder.

A little bit off topic... which platform do you think the brokers will push if they decided to abandon M4/5?
I need to prepare myself for this event or I shouldn't worry about this at least for the next 3 years?

Are they moving away from MT5?
All I can tell is Apple removed the app from the mobile store as a woke play in the US.
What have you witnessed?

Gone from Apple store and Google play.
If it asks for an update, don't do it.
Hope it would be between TV or cTrader but it would be better if they just stick to MT4/5.

I have verified that it is removed from the Apple store. However I don't see any news and I see the apps are on Google.

If it disappears from Google I'll have to carry a Microsoft small device.
Or have a screen share between my phone and a server running MT5.

[IgazI]

XLM is the top performer today. . .
which is pretty sad, but I'll take it.

XLMUSD_2022-10-08_14-54-12.png (67.12 KiB) Viewed 6070 times

PS: I updated the signal to the following. . .

[IgazI]

I added in the RSI bar-flips as they are important to quickly and easily find the LIS.

Here you can see price moving from LIS to LIS. . .
I think that is impressive for something that requires no study of technical analysis.

^BTCUSD_2022-10-09_11-19-24.png (64.96 KiB) Viewed 5999 times

^Screenshot 2022-10-09 115218.jpg (89.35 KiB) Viewed 5983 times

^Screenshot 2022-10-09 115803.jpg (87.02 KiB) Viewed 5982 times

Here is the current (VERY MESSY!) code: (updated after posting):

Code: Select all


//@version=4
study("PowerXYZ Strategy", "PowerZ", overlay=true)
//-----Typical Price-----//
typicalPrice = (high + low + close) / 3
//-----Smoothed moving average-----
len = input(4, minval=1, title="Length")
src = input(open, title="Source")
smma = 0.0
smma := na(smma[1]) ? sma(src, len) : (smma[1] * (len - 1) + src) / len
//-----RSI-----//
rsiLine = rsi(close, 7)
//-----Percent D (smooth)-----//
stochLine = sma(sma(stoch(close, high, low, 13),3),3)
//-----Percent K (jagged)-----//
//stochLine = sma(stoch(close, high, low, 14),3)
//-----PowerZ------//
signal = smma < typicalPrice and rsiLine > 50 and stochLine > 50 ? "buy" : smma > typicalPrice and rsiLine <= 50 and stochLine <= 50? "sell" : "none"
signal := signal[1] == "buy" and signal == "none" and rsiLine <= 50 or signal[1] == "sell" and signal == "none" and rsiLine > 50 or signal[2] == "buy" and signal[1] == "none" and rsiLine <= 50 or signal[2] == "sell" and signal[1] == "none" and rsiLine > 50 or signal[3] == "buy" and signal[2] == "none" and signal[1] == "none" and rsiLine <= 50 or signal[3] == "sell" and signal[2] == "none" and signal[1] == "none" and rsiLine > 50? "burnt" : signal
palette = signal == "buy" ? color.lime : signal == "sell" ? color.red : signal == "burnt" ? color.black : color.rgb(220, 228, 114)
//-----Color & Plot-----//
barcolor(color=palette)
plot(smma, linewidth=1,  color=color.rgb(134, 174, 221,33))





[IgazI]

IMO . . .

Green means "there is no reason to sell a rising stock"

Red means "there is no reason to buy a falling stock"

Yellow means "move your stop significantly closer to the current price"

Black means "get out now and look for reentry"

That is not the perfect solution, but it is a good rule of thumb.

[IgazI]

I think I'm completely sold on algorithmic charting. . .
I've enough to be convinced.

It all started with dchappy showing me how dumb it is to study TA when it is as simple as 1-2-3;

99% more effort amounts to maybe an extra +1.5R per trade, but on the flip side 'analysis paralysis' is costing you whole trades.

A simple logical method of applying risk to the chart and getting a reward, like a rat, is the way to go.

It has taken me a long time, but I'm finally coming around


Added logic: PS: MEEP! I must have been tired! Fixed:

Code: Select all

signal := signal == "buy" and smma > low and histLine <= 0 ? "none" : signal == "sell" and smma < high and histLine > 0 ? "none" : signal

Updated Code:

Code: Select all


[code]
signal := signal == "buy" and smma > low and histLine <= 0 ? "none" : signal == "sell" and smma < high and histLine > 0 ? "none" : signal
[/code]
//@version=4
study("PowerXYZ Strategy", "PowerZ", overlay=true)
//-----Typical Price-----//
typicalPrice = (high + low + close) / 3
//-----MACD-----//
[macdLine, signalLine, histLine] = macd(close, 12, 26, 9)
//-----Smoothed moving average-----
len = input(4, minval=1, title="Length")
src = input(open, title="Source")
smma = 0.0
smma := na(smma[1]) ? sma(src, len) : (smma[1] * (len - 1) + src) / len
//-----RSI-----//
rsiLine = rsi(close, 7)
//-----Percent D (smooth)-----//
stochLine = sma(sma(stoch(close, high, low, 13),3),3)
//-----Percent K (jagged)-----//
//stochLine = sma(stoch(close, high, low, 14),3)
//-----PowerZ------//
signal = smma < typicalPrice and rsiLine > 50 and stochLine > 50 ? "buy" : smma > typicalPrice and rsiLine <= 50 and stochLine <= 50? "sell" : "none"
signal := signal[1] == "buy" and signal == "none" and rsiLine <= 50 or signal[1] == "sell" and signal == "none" and rsiLine > 50 or signal[2] == "buy" and signal[1] == "none" and rsiLine <= 50 or signal[2] == "sell" and signal[1] == "none" and rsiLine > 50 or signal[3] == "buy" and signal[2] == "none" and signal[1] == "none" and rsiLine <= 50 or signal[3] == "sell" and signal[2] == "none" and signal[1] == "none" and rsiLine > 50? "burnt" : signal
signal := signal == "buy" and smma > low and histLine <= 0 ? "none" : signal == "sell" and smma < high and histLine > 0 ? "none" : signal
palette = signal == "buy" ? color.lime : signal == "sell" ? color.red : signal == "burnt" ? color.black : color.rgb(220, 228, 114)
//-----Color & Plot-----//
//barcolor(color=palette)
plotbar(open, high, low, close, color=palette)
plot(smma, linewidth=1,  color=color.rgb(134, 174, 221,33))


PS: I do flip back and forth between PowerX and PowerZ to make sure that the signals are largely the same; the goal is simply to have a better color-coded system.

[buffalo]

I think I'm completely sold on algorithmic charting. . .
I've enough to be convinced.

It all started with dchappy showing me how dumb it is to study TA when it is as simple as 1-2-3;

99% more effort amounts to maybe an extra +1.5R per trade, but on the flip side 'analysis paralysis' is costing you whole trades.

A simple logical method of applying risk to the chart and getting a reward, like a rat, is the way to go.

It has taken me a long time, but I'm finally coming around

Added logic:

Code: Select all

signal := signal == "buy" and smma > low and histLine <= 50 ? "none" : signal == "sell" and smma < high and histLine > 50 ? "none" : signal

Updated Code:

Code: Select all

//@version=4
study("PowerXYZ Strategy", "PowerZ", overlay=true)
//-----Typical Price-----//
typicalPrice = (high + low + close) / 3
//-----MACD-----//
[macdLine, signalLine, histLine] = macd(close, 12, 26, 9)
//-----Smoothed moving average-----
len = input(4, minval=1, title="Length")
src = input(open, title="Source")
smma = 0.0
smma := na(smma[1]) ? sma(src, len) : (smma[1] * (len - 1) + src) / len
//-----RSI-----//
rsiLine = rsi(close, 7)
//-----Percent D (smooth)-----//
stochLine = sma(sma(stoch(close, high, low, 13),3),3)
//-----Percent K (jagged)-----//
//stochLine = sma(stoch(close, high, low, 14),3)
//-----PowerZ------//
signal = smma < typicalPrice and rsiLine > 50 and stochLine > 50 ? "buy" : smma > typicalPrice and rsiLine <= 50 and stochLine <= 50? "sell" : "none"
signal := signal[1] == "buy" and signal == "none" and rsiLine <= 50 or signal[1] == "sell" and signal == "none" and rsiLine > 50 or signal[2] == "buy" and signal[1] == "none" and rsiLine <= 50 or signal[2] == "sell" and signal[1] == "none" and rsiLine > 50 or signal[3] == "buy" and signal[2] == "none" and signal[1] == "none" and rsiLine <= 50 or signal[3] == "sell" and signal[2] == "none" and signal[1] == "none" and rsiLine > 50? "burnt" : signal
signal := signal == "buy" and smma > low and histLine <= 50 ? "none" : signal == "sell" and smma < high and histLine > 50 ? "none" : signal
palette = signal == "buy" ? color.lime : signal == "sell" ? color.red : signal == "burnt" ? color.black : color.rgb(220, 228, 114)
//-----Color & Plot-----//
//barcolor(color=palette)
plotbar(open, high, low, close, color=palette)
plot(smma, linewidth=1,  color=color.rgb(134, 174, 221,33))


PS: I do flip back and forth between PowerX and PowerZ to make sure that the signals are largely the same; the goal is simply to have a better color-coded system.

hmm I've never gotten the error before

1092022.PNG (1.28 KiB) Viewed 5899 times

[IgazI]

hmm I've never gotten the error before

1092022.PNG

I would wager a guess that you are using a free TradingView account and that the indicators called within the script are exceeding what is allowed. . .