!ExtremeTMA v17 Manual

!ExtremeTMA.
mq4 Indicator (for Ver 17)

Written by Carl Rodriguez (crodzilla)
http://www.forexfactory.com/showthread.php?t=343533 This indicator is intended to help identify currency pairs, metals, stocks, or futures available within MT4, that qualify for the rules as laid out in post #1 of the thread. The indicator will scan up to 8 tradables and all timeframes up to the daily timeframe. This indicator is heavy on the CPU and is a memory hog. I can run two of these indicators, with 5 charts open on a dual-core 1.8 Ghz computer with 2 Gig of memory with no problems. I will only discuss how the indicator works and not how to trade it. I will leave that up to the forum participants. But, please remember this indicator is not intended to be a be-all end-all to your decision making. Do not follow this indicator blindly, no matter what anybody says. Use your brain first before placing a trade. So, lets get started with the parameters:
small default is false. Shows all default currencies or custom pairs in all timeframes up to daily. When set to true, the grid will shrink to showing only the 15-min and 1-hour timeframe. custom_pairs default is false. Shows the default currencies. The indicator will add any suffix that your broker will add to EURUSD. For example, I have IBFX as my broker and my account is a mini-account. IBFX adds an m at the end of every symbol. So the indicator will add the m as EURUSDm,
automatically. Set to true, so that you may enter CFDs, futures, metals, or nonstandard currencies that may add a pre-fix to your symbols. Make sure that the symbols show in your navigator and type in the symbols as shown for your broker. Slope_Diff_High/Low default is 0.5 / -0.5 . Please refer to the thread to modify this. pivot_margin default is 3.0. This reads in pips. This means the indicator will sense when current price for any shown pair is within 3 pips of ANY Fibonacci pivot. Please note, the calculations are for Fibonacci pivot, not the regular floor pivots that are very common. ShowTimeLeft default is false. When true, a countdown timer to bar close will be shown above the grid.
GridColor default White. Self explanatory. TextColor default Gold. Self explanatory. pair1s pair8s default various currency pairs. These are the initial currency pairs that will be shown in the grid. You may change these to your desired pairs you would like to watch. This works with the custom_pairs parameter to enter any available symbol in MT4. debug default false. When set to true will show several pieces of information about the internal TMA readings, slope, and the nearest pivot name and distance to it. Was used to allow me troubleshooting assistance.
What it all means:
Shown in the above shot of the grid with debug set to true. When a pair-timeframe cell contains a Grey BUY, it means that price is below the lower TMA band for that tradeable. So, it is in a buy zone, but does not qualify per the rules, as a buy candidate. A Grey SELL, means price is above the upper TMA band, but does not yet qualify as a sell per the rules. When a pair-timeframe cell contains a Red BUY, it means that price is still below the lower TMA band, but the slope is ranging (or lower than slope_diff_low), and falling. (Good for trend continuation identification). When a pair-timeframe cell contains a Green SELL, it means that price is still above the upper TMA band, but the slope is ranging (or higher than slope_diff_high), and rising. (Good for trend continuation identification). When a pair-timeframe cell contains a Green BUY, its time to pay attention. Price is below the lower TMA band, and the slope is in a range (or higher than slope_diff_high), and slope is rising. If the pair header cell is RED, as shown above in the EURGBP cell, then price is also near to a pivot point (set by pivot_margin). When a pair-timeframe cell contains a Red SELL, price is above the upper TMA band, and the slope is in a range (or lower than slope_diff_low), and slope is falling. If a pair-timeframe cell contains dashes ( --- ), it means that price for that tradeable is in between the TMA bands. However, if the rules are qualified for rising slope and the slope is in a range or above/below the slope_diff_high/low, the dashes will be of the appropriate color.
When the currency pair header is highlighted in RED, it means that that currency or tradeable is withing pivot_margin (default of 3.0 pips), of a fibonacci pivot point. And, as can be seen by the debug mode set to true, this EURGBP chart shows that we are 2-pips away from the R1 pivot at 0.8349. Well, that is it for the indicator description, I hope you have fun with it, and gain many pips into your account.
A shameless mention if you really like the indicator and make lots and lots of money with it, it would be appreciated if you donate whatever you feel to my paypal account. Use my email address: crodzilla@hotmail.com. No its not necessary, and this indicator will not self-destruct if you dont.
Carl Rodriguez (crodzilla at Forexfactory.com) Version 17 modifies the TMA slope to the normalized version. NOTE: The
indicator only calculates the normalized slope once per bar.

!ExtremeTMA v17 Manual

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!ExtremeTMA.

mq4 Indicator (for Ver 17)

What it all means:

indicator only calculates the normalized slope once per bar.

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