Topic: MT4 indicators

Dear savvy Trader-programmers,
Would someone pretty please create a set of custom indicators for FST and FSB that exactly match the standard indicators in MT4? If I was a programmer I would do it myself!

I like to visually backtest strategies in MT4, because I find the FST charts hard to use.
Maybe Popov will add MT4-style charts in a later version?
yikes)

Until then, I find that the standard indicators for FST and FSB do not exactly match those in MT4, which makes this type of visual backtesting very difficult. I find that this approach is very effective to avoid curve-fitting.

Thank you!

-Jericho

Re: MT4 indicators

1. I think FSB / FST indicators correspond well to the indicators of MT4.

http://s4.postimage.org/xNLm9.jpg

http://s4.postimage.org/xNNRi.jpg

If you want to see the indicator values in greater precision, you can press F12 when you are on the chart.

http://s4.postimage.org/xNXPS.jpg

You can see the indicators values also in the Command Console. You can use the: ind ## command, where ## is the number of the bar.

http://s4.postimage.org/xP8F9.jpg

Another option is to export the ind values in CSV format by using the Export - Indicators menu command.

If you see difference, between FST and MT4, please make screen a shot. We'll try to see from where it comes.

2. What do you mean with "MT4-style charts"?
If you have recommendation about the user interface of the programs, please post them or request new features.

Re: MT4 indicators

Hi Popov,

I am working on some screenshots, will post this week when I have time. Struggling with getting screenshots from FST to the forum. I assume that I am supposed to use the cntl+ printscreen and then post to a word doc or something? MT4 is easy because of the menu option of "Save as picture"

As for the indicators:
I notice right off the bat that stochastics and MACD histogram read differently from the mt4 versions.

I will post my chart feature requests in the proper forum.

Thanks,
Jericho

4 (edited by Jericho 2010-10-18 11:15:15)

Re: MT4 indicators

Hi Popov,I got the screenshots:

Below you can see the MT4 MACD histogram, and how well it lines up with the moving average crossover of the same period (50, 100)

http://s3.postimage.org/FHNn9.jpg

Below is the MACD Histogram in FST during the exact same period, You can see the the moving averages are the same in MT4 and FST, but the MACD Histogram is completely different. The Histogram very loosely, if at all mimicks the moving averages on which it is supposed to be based. You can even see where the histogram indicates a crossover of the averages where none exists as seen on the chart above.

It appears that the FST histogram is mimicking the signal line rather than the moving averages...


http://s3.postimage.org/FIbjA.jpg


Next, Stochastics:

http://s3.postimage.org/FIsMA.jpg

On the chart above, notice the pattern of the MT4 stochastic, and the appearance of the MT4 stochastic


Now compare this to the FST stochastic with exactly the same settings:


http://s3.postimage.org/FIRJ0.jpg

The FST version is rather hard to read with three different lines instead of two, and I have noticed that I have to change the settings on the FST stochastic to get it to send signals that match the MT4 Stochastic. I do this mainly by shortening the slow D period from 3 to 1 in FST.


Thanks,
Jericho

Re: MT4 indicators

1. About MACD.

MACD Line = Fast MA - Slow MA
Signla Line = MA(MACD Line)
MACD Histogram = MACD Line - Signal Line

MACD Line and Signal Line have to be plotted as lines and MACD Histogram has to be plotted as histogram chart (bars).

FST does exactly that. MT plots MACD Line as histogram (bars) and doesn't plot MACD Histogram at all.
This is a problem of MT. FSB / FST are designed to be (and are) better than MT for the purpose of creating strategies using visual interface, fast backtesting and generating and the most important - protecting the user from logical mistakes.
If you want to hide MACD Histogram Line and to plot MACD Line as a histogram (which is of course wrong), you can make a custom MACD and to change the chart style of the lines. Such example is attached. I do not want to copy the bad sides of MT in FSB / FST. The only reason these program exists is that I was disappointed from MT when I started learning and trading  forex.

http://s2.postimage.org/BFhmA.jpg

Or in case you don't use histogram and MACD signal line, you can simply use MA Oscillator, which is Fat MA - Slow MA.

http://s3.postimage.org/G7tyr.jpg

2. About Stochastics - the indicator consists of three lines. MT doesn't plot one of the lines. However, besides of the visualization, there is no difference between the indicators: 

http://s3.postimage.org/G5uQi.jpg

Post's attachments

MACD Histogram (No histogram).cs 16.26 kb, 33 downloads since 2010-10-18 

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Re: MT4 indicators

Thanks Popov for your help.

Jericho