Ergodic

[mrlucky1x]

ok... I got it to work.

[eDanny]

Played with Ergodic a little bit and changed signal line colors depending if rising or falling, above or below the zero line.

[eDanny]

After reading about the use of the ECO2 indicator I thought I'd try it out. I made some modifications to enhance quick viewing of the indicator status. If the ECO line looks flattish but you want to know if it is really angling up or down, I have a box showing the difference between the current value and the last value. Also if the signal line is above the zero line and the ECO line is above the signal line you will see "LONG" and the opposite will show "SHORT". If the ECO line then falls below the signal line but is still above the zero line you will see "FADING" as well still see the dots plot on the signal line. As always the alerts can be on, off, left or right. Enjoy the eye candy.

[zoltran]

Nice work edannny
Thanks for the update

[Druid]

Danny,

Many thanks to you for the ECO update and to Zoltran for his original!

[Javier]

[QUOTE=eDanny;61713]After reading about the use of the ECO2 indicator I thought I'd try it out. I made some modifications to enhance quick viewing of the indicator status. If the ECO line looks flattish but you want to know if it is really angling up or down, I have a box showing the difference between the current value and the last value. Also if the signal line is above the zero line and the ECO line is above the signal line you will see "LONG" and the opposite will show "SHORT". If the ECO line then falls below the signal line but is still above the zero line you will see "FADING" as well still see the dots plot on the signal line. As always the alerts can be on, off, left or right. Enjoy the eye candy.[/QUOTE]

Hi
Is Eco2 a variation of Ergodic or are they 2 different indicators? I haven't checked either yet.

Javier

[eDanny]

Yes they are different indicators but look similar. One difference I see is ECO2 doesn't react wildly to gaps. I have made ECO more user friendly today to actually give potential trades signals, to be filtered by all your other indicators and signals of course. A signal is forming when a transparent triangle appears at the zero line. Also a sound alert, if turned on will give you a heads up. If the signal is still valid the the close of the bar, the triangle will change to a color and another sound will alert you. If both the ECO line and signal line are in the right direction the triangle color will be dark and if one line is angling in the opposite direction the triangle will be a light color. This small filter may alert you to change in direction. The picture will show a signal forming and also an example of the lighter triangle and the condition that caused it. To me, this is much more useful than the fun text signs (which can still be used). Good trading!

[mahlonhersh]

Danny,

I like the work that you've been doing with the Ergodic and ECO2 indicators.

What are the parameters that you are checking to generate buy and sell signals with the ECO2?

Thanks,

Mahlon

[eDanny]

A short signal for example is generated when the main ECO line is below zero and the signal line crosses below zero. If the ECO line goes back above the signal line but then crosses below the signal line another short signal is made. I don't know if that is the correct way but it seems to be the most effective. I think I read that a short is when the signal line crosses the main line but if that were to happen above the zero line it is an indication of fading, or a possible reversal but I wouldn't think it is strong enough to signal a short. My opinion only which can change over time.

[mahlonhersh]

Danny,

Thanks for the explanation.

Would it be possible to have the ECO2 or Ergodic histogram show different colors when rising or falling, for example green when rising and red for falling? Like the Bill Williams Awesome Oscillator does. It appears that the ECO2 has a selection in the setup for this, but it didn't seem to work for me. I tried using the main rising and falling line and plotting it as a bar, but that wasn't real accurate either. Apparently the main line doesn't always change colors when it goes up and down.

I do really like what you have done with the alert dots on the Ergodic. (the start of the fading) I find this to be a pretty strong reversal alert, especially when used along with other indicators.

Thanks for your consideration,

Mahlon

[eDanny]

Making the histogram change colors would be a major re-write of the code but I may tackle it sometime. I also looked at the main line color changes but don't see why it doesn't look right sometimes. The fading dots were part of the original code by Zoltran.

[mahlonhersh]

Thanks. I am not a programmer, so I would be lost for sure! Maybe Zoltran has some input on this.

[Elmi]

Thanks for sharing

zoltran is it possible to have available just the signal to plot it on price or on another panel as well ?
Thanks for sharing with all of us.

[adr70]

Ergodic

Can someone help me to create ergodic indicator with some options

1-Price :
a-close
b-High+Low/2
c-High+Low+close/3

2-Ergodic :
a-exponential
b-Simple
c-Weighted

3-Ergodic Average :
a-exponential
b-simple
c-Weighted

4-Rising/Falling ergodic : Different Colors

Thank you in advance for any help.
PS.I have attached a screen shot of the indicator.

[mainstream]

Wow this rocks!!!

Thanks for the coding it's awesome!


Did anyone figure out a way to automate as part of a hands-free-system?