Hi all... long time lurker first time poster; I believed it would be good to provide a little something back into the community which has helped me thus far in addition to my forex experience!
So like there aren't enough indiors and trading systems on the market, here is another. AFAIK I'm not ripping anyone off here LOL. The trading system is still fairly loose as I'm testing different egies, but I feel the indior is pretty cool and I wanted to share it.
Stochastic fans will probably like this one. I had been hooked on stochs for a while, but started on a quest for something with a little less noise. I wanted smooth clean lines with sharp peaks and valleys, and little to no lag. Yes, I understand, I want all of it. The effect is basically a hybrid of Schaff's Trend Cycle and Ehlers' Fisher Transform. To Put It Differently, MACD Stochastic Fisher Transformation.
While there are a number of ways you could use this indior, I'm currently using (i.e. back/forward testing) it into many timeframes, along the very same lines as Spudfyre's MTF Stochastic platform as explained in his trade diary. I will not go into all the intricacies . Basically you start on a lower interval --usually I enter a transaction when the 15M and 30M charts agree--and move up to higher timeframes if they concur with the lower timeframes; when the lower timeframes provide an exit sign before the higher timeframes start moving in precisely the same direction, then escape the trade. Entering a trade with support from the higher timeframes is preferable but not absolutely mandatory. Can take profit/pyramid trades on lesser timeframe crosses. That is the trading platform in summary, still becoming refined and solidified.
Another egy, a little more conservative, would be to only take signals on the reduced timeframes if they have support from the higher timeframes. Then it is a more strict trend-following system, similar to 's MTF Stochastic method.
The default settings are 9, 12 (fast and slow EMAs), 6 (stochastic period), 2 (smoothing EMA). With these settings it gives more or less equal signals as a stoch(12,3,3), but with considerably less noise. This actually produces a good side-by-side comparison (attaching a screenshot of this). With bigger values you are able to ch some more range price movements, but pose a little lag. All in all I believe can be used any time you would normally use a stochastic oscillator, also that I find that overall it gives cleaner, more accurate signs. If nothing else it's nicer to look at :
in case you decide to provide this indior a go, I'd love to hear what you find to be the best settings as I am still experimenting a bit with it. In addition, I welcome any comments or suggestions for improvement (I'm an MQ4 noob). Enjoy!
P.S. Those are heiken ashi bars laid over OHLC bars in the screenshot, just so you don't get confused
PPS. I've updated the MQ4 file. The smoothing EMA is now hardcoded to use 2 phases, since I never appear to alter this value; more smoothing periods start introducing unnecessary lag. Also that is much more in keeping with the Ehlers Fisher Transform which just uses a 2-period smoothing. Additionally added Creative Commons license agreement (Attribution-ShareAlike), cleaned the code up a little bit and added a few more comments. Hope that you can put it to good use.
https://www.forexsoutheast.asia/atta...2060985165.mq4