Tutorial videos for MT4 indicators


#1

We managed to crash the short link to the tutorial videos last week (I didn’t think that was possible, but anyway…) so here is the full link:

Please make sure that you watch all those videos (OK, you can skip the bits where I go on a bit!) They will get you started quickly.


#2

I have used the MT4 indicators for a week or so now, while following David_F. He maintains that the MT4 indicators are not really that useful in the state they are in. I would tend to agree but I will defer to David F at this point. What I see is that you can’t modify the nominal cycle, pinning is very difficult and you have limited abilities to view chooseable FLD’s or VTL’s on it. Hopefully, this is a BETA state and further improvements can me made, else my vote will continue to support conventional ST. It might be a viable confirming indicator along side ST.


#3

Hi Bob, the MT4 indicators are very different tools indeed and they won’t ever replace ST. They suit a different style of working. The indicators require more “screen estate”, and work on the principle that you have many charts up, each with a different piece of the puzzle … whereas ST is more of an “everything on one chart” approach. That idea extends to the other things you mention: the indicators are much more flexible in terms of the nominal model, and so the need to modify is not so great (although it can be done as a matter of interest). And pinning is definitely more limited with the indicators.

It all boils down to a different approach. The indicators suit some people, and ST suits others better, and that’s the way it should be. Different tools for different approaches.
Personally I find myself working more with the MT4 indicators now :blush: … but I do start every day with ST


#4

Hi David, even if I prefere using ST, I am taking a look at MT4 Hurst indicators. Hurst cycle, FLD and VTL works in all the charts, but EUR USD a message like “Initializing Hurst Cycle…” appears in the top about from 1 hour, and nothing happen. Futhermore pls, if you could indicate a few rows the meaning of the colour of information string at the top left of the chart. Thanks


#5

Hi Rodolfo, it sounds like the analysis has not been correctly initialized. Did you do the full initialization?

You should be able to fix it by clearing the analysis for the EURUSD like this:

Then initialize a fresh analysis from the monthly chart down by applying the Hurst Cycles indicator only (no others until fully initialized).

The colors of the label are explained here:


#6

I have done, cleared cycles folder, now appliyng Hurs Cycles Ind, compare “Starting Analysis with MN data” and it is stop there from 5 minutes


#7

Maybe a data issue? You’d better contact support about it


#8

Hi everyone. David, I am looking at the Hurst MT4 indicator, and I saw that FLD indicator has alert for the long/short entry, and also for targets should be reach.
It would be usefull have also :

1 - stoploss level
2 - risk/reward ratio

Other very usefull thing, could be save a report file in csv format, in such a way we can evaluate signals at the end of the day

Thanks and bye


#9

Hi Rodolfo. Those are good ideas for extending the FLD indicators. The best way of doing that is by creating separate indicators that would add that functionality. The analysis information is available to other indicators and customizing the way you apply the information is not difficult to do.
If you are able to do the coding yourself or know someone who is able to code indicators for MT4 then we will email you the coding guide. Otherwise we are putting together a group of people who are able to do the customized coding. When we have that up and running we’ll make an announcement.
Perhaps someone else here would like to see these ideas added to the FLD and are able to take up the challenge? Let me know and I’ll send you the info.


#10

The MT4 indicators have the potential to be very good indeed, just need a few tweaks here and there. I prefer ST as the defacto tool but thats just because I am used to it through daily use. The main drawback for me personally with the MT4 indicator is the lack of the original nominal intraday model. I believe an update is on the cards though! I’d like to also see an indication of where pinning has occured, editing of the nominal model inside the plugin and the ability to measure bars in a similar way to ST.

One area that has huge potential with the MT4 indicators is the ability to use them with programmed trading strategies. As a web developer and all purpose coder myself I am keen to get this going when the MT4 indicator is polished up a bit.

DF


#11

Yes indeed the ability to edit the nominal model is going to be introduced in the next update. Indications of where pinning has occurred is unlikely to happen because it requires the persistence of information about the analysis that adds a good deal of complexity to the indicator, but I won’t say that it is impossible. Measuring bars similar to the way ST does it is more of a platform issue … detecting mouse clicks and so forth. But we’ll keep working on it!