VT Trader Fantail Envelope Alerts

[Eric Johnson 10]

Here is a new coding that I did to be able to remove the envelope, and/or the fantail lines; and get alerts instead. It is related on Walters Forex WVMA modified fantail version (really thanks to Bemac the coder). It is based on my own following observation and chart demo.

I have been working with 50 ema envelopes (light blue dotted). This is showing a 15 pip offset from the 50 ema. I changed the black fantail line to white to see it.

When the magenta and white lines BOTH expand beyond the width of the 15 pip envelope, it is a signal that the trend is greatly weakening and can soon pullback or reverse. This is shown with the red vertical lines. It is pretty consistent for the EUR/USD, and I use slightly bigger bands for other pairs.

The small arrows (orange and blue) are part of the old audio alert system that I put together for VT that tell me when price closes (or crosses) near the 15 pip band.

It has been modified for using only the magenta and white(black) band expansion as an exit readiness alert.

By default the new added alert tells me when only the 2 mentioned fantail bands BOTH exceed the 14 (adjustable) pip envelope. It will also show pink arrows and audio alert. To turn these off right click on chart/ attached trading systems/ params enabled, and uncheck what you want for displays including the envelopes display. If you adjust the envelope size, also adjust the envelope alert margin for the price crossover. This turns off the price alerts at a set outer level. You may have to turn off the fantail alerts via the params settings when you are tired of listening to them.

Install this via the trading system builder import function. Add it to a chart, as a trading system ONLY via the upper menu for add trading system. You can change the display colors and so on, by editing the trading system, rather that adjusting properties. Also if you want the entire 49 color fan tail you just need to add the outputs, they are still in the code. Remember to unzip the code, not open it with windows RAR.

As usual, hope it is useful and let me know if you need further instructions.

fan tail envelope alert.zip

Edited January 3, 2010 by Eric Johnson

[Eric Johnson 10]

Hi, I am not sure why the last program upload did not go correctly, but here is the proper program for the above mentioned fantail envelope cross.

 

A note about VT, if you want to edit a trading system, save the changes with the disc icon. You often have to remove (delete) the edited trading system from the chart, and readd the system from the top menu bar to see the changes take effect on the chart(s).

Fantail_Envelope_cross___alert_zone__1__1_1.zip

Edited January 3, 2010 by Eric Johnson

[Eric Johnson 10]

Here is a version of the same trading system alert, but with the advantage of the alerts for [both the price crossing envelope, and/or the fantails crossing the envelope]; being shut off at a pip exceed level (adjustable).

For example if your alert comes on at 14 pips, it will shut off at 16 pips. This is to reduce redundancy of the alert. It will also come on as it re-enters this zone. It is based on the close of the bar, so live it is fine, looking historically some bars (and fantail values) will not close in this range, so less recorded signals.

The control is set by the properties MA envelope pip value (14), and the Margin pip value (16).

 

Also with all the versions make sure the defaults are set to exponential MA in the properties.

 

If you rely on the audio alerts without the arrows, make sure that you monitor the 2 possible alert sources, so you do not miss one source, behind the other sound. This is done via the params menu checklist. The sounds are editable also.

 

The default ema has actually been set to 51, this was to not interfere with a possible 50 ema pre-existing, it also is adjustable.

envelope cross fantail margin.zip

Edited January 3, 2010 by Eric Johnson