Yoni Yum | Forex Indicators Download - MT4/MT5 Resources - MetaTrader 5 Resources
Hi everyone...long time lurker first time poster; I thought it would be nice to give a little something back to the community that has been helping me out on my forex adventures so far!
As if there weren't enough indicators and trading systems out there, here's another one. AFAIK I'm not going to trick anyone here, haha. The trading system is still pretty loose as I'm testing different methods, but I think this indicator is pretty cool and I wanted to share it.
Random lovers might like this. I was obsessed with stochs for a while, but then started looking for something less noisy. I wanted smooth, clean lines with sharp peaks and valleys and almost no lag. Yes, I know, I want it all. The result is basically a mixture of the Schaff trend cycle and the Ehlers Fisher transform. In other words, MACD -> Stochastic -> Fisher Transform.
While you can use this indicator in a variety of ways, I am currently using it on multiple timeframes (i.e. testing backwards/forwards) with Spudfyre's MTF Stochastic Indicator system described in his trade log. I won't go into all the intricacies here. Basically, you start with the lower timeframe - usually I trade when the 15M and 30M charts align - when they align with the lower timeframe, move into the higher timeframe; exit the trade if the lower timeframe gives an exit signal before the higher timeframe starts moving in the same direction. Trading on the back of higher time frames is preferable but not absolutely mandatory. Can profit/pyramid trade on lower time frame crossovers. In short, this is a trading system that is still being refined and consolidated.
Another, more conservative approach is to only take signals when the lower time frame finds support on the higher time frame. It is then a more rigorous trend following system, more like TEB63's MTF stochastic indicator method.
Default Yoni Yum settings are 9, 12 (fast and slow EMA), 6 (random periods), 2 (smooth EMA). With these settings it gives more or less the same signal as stoch(12,3,3) but with significantly less noise. This actually makes for a nice side-by-side comparison (screenshot attached). Using larger values allows you to capture some of the longer range price movements, but introduces a bit of lag. All in all, I think the Yoni Yum can be used any time you would normally use a stochastic oscillator, and I find that overall it provides a cleaner, more accurate signal. If nothing else, it would be better to take a look:
If you decide to give this indicator a try, I'd love to hear what you think the best settings are, as I'm still experimenting a lot with it. I also welcome any comments or suggestions for improvements (I'm new to MQ4). enjoy!
Sylvain
P.S. in the screenshot these are the heiken ashi bars put on top of the OHLC bars so you don't get confused
Polyphenylene sulfide. I've updated the MQ4 files. The smoothed EMA is now hardcoded to use 2 periods as I never seem to change the value; longer smoothing periods start to introduce unnecessary lag. Furthermore, this is more consistent with the Ehlers Fisher transform using only 2-period smoothing. Also added a Creative Commons license (Attribution-ShareAlike), cleaned up the code a bit and added some comments. Hope you can take advantage of it.
As if there weren't enough indicators and trading systems out there, here's another one. AFAIK I'm not going to trick anyone here, haha. The trading system is still pretty loose as I'm testing different methods, but I think this indicator is pretty cool and I wanted to share it.
Random lovers might like this. I was obsessed with stochs for a while, but then started looking for something less noisy. I wanted smooth, clean lines with sharp peaks and valleys and almost no lag. Yes, I know, I want it all. The result is basically a mixture of the Schaff trend cycle and the Ehlers Fisher transform. In other words, MACD -> Stochastic -> Fisher Transform.
While you can use this indicator in a variety of ways, I am currently using it on multiple timeframes (i.e. testing backwards/forwards) with Spudfyre's MTF Stochastic Indicator system described in his trade log. I won't go into all the intricacies here. Basically, you start with the lower timeframe - usually I trade when the 15M and 30M charts align - when they align with the lower timeframe, move into the higher timeframe; exit the trade if the lower timeframe gives an exit signal before the higher timeframe starts moving in the same direction. Trading on the back of higher time frames is preferable but not absolutely mandatory. Can profit/pyramid trade on lower time frame crossovers. In short, this is a trading system that is still being refined and consolidated.
Another, more conservative approach is to only take signals when the lower time frame finds support on the higher time frame. It is then a more rigorous trend following system, more like TEB63's MTF stochastic indicator method.
Default Yoni Yum settings are 9, 12 (fast and slow EMA), 6 (random periods), 2 (smooth EMA). With these settings it gives more or less the same signal as stoch(12,3,3) but with significantly less noise. This actually makes for a nice side-by-side comparison (screenshot attached). Using larger values allows you to capture some of the longer range price movements, but introduces a bit of lag. All in all, I think the Yoni Yum can be used any time you would normally use a stochastic oscillator, and I find that overall it provides a cleaner, more accurate signal. If nothing else, it would be better to take a look:
If you decide to give this indicator a try, I'd love to hear what you think the best settings are, as I'm still experimenting a lot with it. I also welcome any comments or suggestions for improvements (I'm new to MQ4). enjoy!
Sylvain
P.S. in the screenshot these are the heiken ashi bars put on top of the OHLC bars so you don't get confused
Polyphenylene sulfide. I've updated the MQ4 files. The smoothed EMA is now hardcoded to use 2 periods as I never seem to change the value; longer smoothing periods start to introduce unnecessary lag. Furthermore, this is more consistent with the Ehlers Fisher transform using only 2-period smoothing. Also added a Creative Commons license (Attribution-ShareAlike), cleaned up the code a bit and added some comments. Hope you can take advantage of it.
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