5NITRO+ Forex MT4 Indicator for New Metatrader 4 Builds 600+
The 5th NITRO+ Version, New 5NITRO+ Upgrade was sent May 27th 2014
*New updated information is being added here as time permits
New Features of The 5TH NITRO+ Version:
For your quick reference, a full breakdown of each meter componenet is provided at the page titled How Does 5NITRO+ Work?
Many of these new features listed below in the changelog are also expanded at this page providing additional information, explanation, and some more insight into the added benefits they bring.
TITAN II™ has been upgraded to TITAN III™ Bollinger Bands and Money Flow Index were added to TITAN III. TITAN III is abbreviated on the meter as T3. It is also sometimes stylized within this site as TITAN3. MACD and Moving Average of Oscillator were removed for the new T3, but were moved to 4Box. Therefore, they both inherit 4.1% weight each. This new Moving Average of Oscillator is abbreviated as OsMA
The Bottom 4Boxes have been improved. MACD and OsMA have replaced Money Flow Index and DeMarker Version One. Money Flow Index, abbreviated as MFI, has moved to the TITAN3 formula while DeMarker Version 2 retains its previously held slot. MACD is the top box which uses the current time frame. OsMA, like the existing and unchanged Relative Vigor Index (RVI) and Awesome Oscillator (AO) below it, use higher time frames or the current time frame dependent on which time frame the meter is loaded on.
Strength component has been improved with double the calculation providing greater precision and a wider analysis. The Strength calculation inside the meter and meter strength output has doubled. An additional strength measurement and strength reading has been added to the meter. In addition to the legacy 48 Bar lookback, a 24 Bar lookback has also been added and is the 2nd number to the right. The longer lookback, 48 Bars, comprises 57% of the total SS weight, while 24 Bars makes up 43%. Accordingly, an extra 4 points or 5.5% of the total GLOBAL% has been given to Symbol Strength. These 4 points were taken from the Bottom 4 Boxes. 1 point from each Box, leaving them now with 3 points each. A User input for both of these lookbacks has been added in this 5th version. The actual time frame from which the strengths are measured from is non-linearly higher when the meter is loaded on smaller time frames. This skew towards using higher time frames generally decreases as the time frame in which 5N+ is loaded on … increases. A complete and detailed breakdown of each and every time frame used for measurements for each component dependent on which time frame the meter is loaded on is provided within the 5N+ Formula page linked at the preface above.
View strengths as of right now on our free currency strength meter page. Once there, choose your Time Frame and each of the eight (8) Major Currencies you would like to display strengths of. More info as it relates to a possible FLOW+ Currency Strength Meter On/Off option for MT4 added to 6NITRO+ or 7NITRO+ or 8NITRO+ are also included on this page. This Forex strength meter is an Adobe Flash application. Make sure you have the Flash or Pepper Flash plugin turned on or enabled.
Time Frames can now be chosen by the User. In previous MT4 Beta builds, there was indication that all of these time frames would be offered like in MT5. They took them away. The options were left in 3N+ 4N+ 5N+ though. Although there is no actual History to pull from, selecting non-standard time frames such as M12 will allow the User to fine tune the meter to suit. For example, a User can choose M12 from the drop down menu if they desire to quicken up the response when loaded on a M15 chart. These time frame options will also now give the ability to add multiple meters on the same chart of the same pair, but with slightly different weightings within the formulas. For example when loaded on a M15 chart, a User can choose to display 5 meters, M10, M12, M15(current) M20 and M30. For reference when a non-standard time frame is chosen such as M4, the meter will consider the closest, higher time frame as the current. So for the MACD Box, M5 will be used when loaded on M4. M15 will be used when loaded on M12. The TITAN3 weightings are slightly changed for each. So instead of there being a large jump in the ‘center of time’ when switching from H4 to D1 for example, there are now more gradual and ‘in between’ weightings available by being able to select H6, H8, H12. The following time frames can be chosen in the drop down list within the 5NITRO+ settings:
M1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30 H1 H2 H3 H4 H6 H8 H12 D1 W1 MN and CURRENT
Choice of Time Outlook Response Mode has been added to the 4N+ and 5N+ Upgrades. The User now has a choice of -extended- Time Outlook which is default, or -reduced- Time Outlook. -Reduced- will lower the overall center of time by about 0.40 to 1.1 time frames depending on time frame loaded or time frame chosen by the user for the meter to calculate from the ‘Time Frame’ drop down list within the Settings Box. This will serve to ‘quicken’ up the response and allow Users to more better fine tune the meter to meet unique hold times and unique take profit goals that may be shorter and less. The default -extended- Time Outlook selection retains the meter’s default focus on the prevailing trends from higher time frames and keeps it lesser susceptible to market noise and micro trends. There is an indication on all display modes noting which Time Outlook you have chosen, either extended or reduced. Extended Time Outlook displays two (2) bars within the Copyright area and Reduced Time Outlook only displays one (1) bar.
New Data Integrity Safety Feature: 5N+ More Data Needed [...] notification is displayed on the chart instead of the actual meter when there are less than (150) bars in your History Center from any of the time frames needed for calculation. Remember, 5N+ needs up to six (6) adjacent time frames worth of history in addition to the current time frame you have loaded it on. ’5N+ More Data Needed [...]‘ will display while data is being downloaded and will be replaced with the actual meter when all 150 bars worth of data from each needed time frame is finished downloading. Take note however that the meter is not fully initialized until all bars, above and beyond the 150 needed, have been downloaded. So if your Metatrader platform settings are configured with 50 000 bars, all 50 000 or the max available need to be downloaded first. This history populating process is given the priority over indicators performing calculations because it would be unknown to the platform specifically how many bars will actually be needed by the indicator and from which time frames. ’5N+ More Data Needed [...]‘ will persist sometimes on Monthly charts with some Brokers or Futures that do not provide enough history. In this case, 5N+ cannot be used on this time frame. This new notification system is a Safety Feature ensuring Data Integrity. Previous versions of NITRO+ would still be allowed to function even without enough bars in chart. In these events, the entire output of the meter was compromised. Number of Bars made available in your History Center dependent on your Broker. Third parties can be a source of extra bars by clicking “Download” in your History Center.
An Overbought, Oversold dot matriXx™ Feature has been added. This now makes 5NITRO+ a truly full spectrum tool by allowing it to also provide ‘Exiting Relativity’. The matriXx is comprised of ADX, RSI, MFI, CCI, STOCH, and WPR. These six (6) popular OBOS indications monitor both the current time frame and one time frame higher. This brings the total number of Dots to 12. Because the non-standard time frames already use a higher time frame to represent current, the OBOS Dot Matrix only displays these current for a total of only six (6) Matrix Dots when 4 Minutes or 12 Minutes is selected to calculate. The User can adjust the High + Low Limits for these OBOS Indicators along with colors. While a popular belief may be that these Dots would only illuminate at extreme levels such as >85% as an area to begin to think about taking some profit, they can also be helpful to alert good opportunities of adding-to positions on retracements. For example when in the midst of a prevailing Up trend, the Matrix Dots will often illuminate, indicating ‘Possibly Oversold’, when price retreats dropping the GLOBAL% from say 92% down to 43% momentarily before bouncing back up to retest the recent highs and possibly continuing even higher.
Offline Charts such as Renko + Tick Utilities. Also Period_Converter Script Compliant. But Not With Odd Periodicities. The programmer has coded in support for Offline Charts. This has always been a commonly requested feature. Flipping the switch to -true- for Offline Charts will allow 5NITRO+ to function with tools like Renko and Tick Charts that function Offline. It will then also allow it to function when using the now supplied Script, ‘PeriodConverter’, to generate History for non-standard time frames like M2 M3 M4 M6 M10 M12 M20 H2 H3 H6 H8 H12. For example when loaded on an M3 Offline Chart, 5NITRO+ will be able to use M3 data all throughout the formula instead of using M5 as an avatar for current. Odd time frames such as 8 minutes or 22 hours are non-compliant with this new Offline Chart feature. If your Offline Chart utility is not creating the new periodicities M2 M3 M4 M6 M10 M12 M20 H2 H3 H6 H8 H12, then 5NITRO+ cannot function properly. If the utility is not capable of producing any of these popular time frames, then 5N+ cannot function with that utility.
NOTE: Only create new data for periodicities listed here: M2 M3 M4 M6 M10 M12 M20 H2 H3 H6 H8 H12
NOTE: You cannot create odd periodicities like M7 M9 M13 M27, M43, M71, H5, H17, H53, D18 … and expect the meter to function properly.
NOTE: Confirm that you have turned -ON- the New ‘Offline Charts’ feature within 5N+.
NOTE: If you do not see the standard ‘Time Frame’ displayed anywhere on the meter, it is not functioning correctly. Your settings are wrong.
NOTE: If your Offline chart does not state M1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30 H1 H2 H3 H4 H6 H8 H12 D1 W1 MN to the upper left corner or on the window title bar, 5N+ is not functioning properly. Your configuration with the Offline chart utility is wrong. Or, your 5N+ settings are wrong.
Improved Organization of the Newly Expanded Settings UI. Although the level of control over nearly every aspect of the meter has increased, the sheer amount of different settings adjustments can be overwhelming at first. The New 3NITRO+ has proven this already with Users. 4NITRO+ and 5NITRO+ provide 20% to 25% more control and options over 3N+ …. which provides about 33% more than N+509 and N+. It is no different than when we unbox a new Smart Phone. It may take a few uses or just spending some time “messing around” with them to become fluent and know where the settings are located and the result of changing them. The meter will not break or get worn out by flipping the different switches On or Off as a means to learn.
Quick and Easy Settings Selections with New Drop-Down List Styles. These new drop-down lists allowed for the entire Settings Box to be completely restructured. This new capability introduced by Metaquotes with these new 600+ Builds is really what allowed the increase of total user adjustments by about 70% because of the ability now for natural language and actual organization. Some may notice that the Settings UI of many MT4 Indicators, even the proclaimed “ALL NEW!”, are still a mess and stuck using the old legacy protocols. Well, this is because it is necessary to compile all code using the ‘Strict’ protocol which leaves very little room for coding errors or mixing of new language with legacy. Time was taken here to follow Strict Protocol. In other words, the NITRO+ code was virtually re-engineered. In the process, more efficiencies were gained allowing even more brute calculations per each new tick. This in turn created more stability or less ‘jumpiness’ compared to the original and 2nd NITRO+ even during fast markets. It does not rely on the 509 Compatibility Engine to function as do 90% of all MT4 Indicators currently in existence. Granted this percentage declines every day as new indicators are created and old are rewritten. This not only reduces the resource load on your PC and makes it less susceptible to new upcoming builds breaking its functionality by surprise as you begin your trading day, but this also creates a solid coding foundation.
More Upgraded Display Modes for a Total of Sixteen (16) – Including additional quick-selection modes that match the OneClick Panel in size. These sixteen (16) Display Modes can be quickly chosen from the new drop-down list selection style. Additional, upgraded solid backgrounds have been added as an option for all modes. Please Note: Border options for numerous objects such as the new background are: flat, raised, sunken. So be aware that we are aware there is a glitch within the MT4 enumeration in which the sunken option is called ‘non-dynamic pointer’. This is a Metaquotes issue that continues to go unnoticed or fixed. Also make note that color of these new backgrounds and all objects we provide border adjustment for need to have one RGB value >=31 or else MT4 will automatically paint the borders white for some odd reason. I guess it is proactive to prevent the lack of contrast causing visibility issues.
GLOBAL% Has Been Added to MessageBox Alert Output. The programmer also added the ability for the Audible Alert to output to the Terminal|Experts today. This will allow text output into Terminal along with ability for unique wav file and ability to turn off the MessageBox entirely while still retaining a running log. Because of how the meter handles Alerts, this now allows a running log to be kept in the MessageBox and/or in Terminal|Experts. 5N+ triggers the Alert the first time it is hit. Then, it will keep alerting at the end of every bar close as long as GLOBAL% continues to be greater than your selected level. Users of 5N+ have been creating a Template with all of the Symbols they trade loaded on either a M1 or M5 chart and the Alert Trigger set to 0.0% along with the actual time frame they wish to calculate, such as M30. They then minimize and hide this chart. So now in their Experts log below or detached to a separate monitor out of the way, they have a running history log of Each Symbol, GLOBAL%, Time and Price that updates every 1 or 5 minutes or whichever frequency the User wants. It can be helpful to increase frequency before upcoming major economic reports of higher time frame calculations such as M30 or H1 to an M1 chart.
Visual ‘NITRO Mode’ Alert Triggers are Now Adjustable along with the 6Box Column’s Neutral Trend Illumination The User can now set the levels at which both the GLOBAL% and TITAN3 Vertical ‘NITRO Mode’ Action Bars light up. Default is of course 50% and 75. The TITAN3 Visual Alert Trigger also controls when the bottom 4Box illuminations are overridden or inherited by the ‘Neutral Trend’ or ‘Opposite Trend’ bias of the very top box. Current default Neutral Trend of the Bottom 4Boxes is T3<75. What does this mean? Each of the bottom 4Boxes have 3 output possibilities. These boxes result in Up Trend, Down Trend, or No Clear Trend Direction and are illuminated accordingly with ‘No Clear Trend Direction’ displaying a neutral grey color. But, if the very top box which is the integrated MTF 20 indicator aggregate called TITAN3 is less than the default 75 or your chosen ‘Visual Alert’ level for T3, the bottom 4Boxes will illuminate as a neutral grey color regardless of each box’s finding and output. Although the calculated values of the bottom 4Boxes still carry weight and are not diminished within the overall ultimate GLOBAL% of the entire meter, the visual influence of these bottom 4Boxes is diminished. In other words, the bottom 4Boxes are only allowed to give their ‘visual’ opinion if and only if that opinion agrees with the Leader of that column. The Leader of the 6Box column is TITAN3 abbreviated as T3 and is the very top box.
New ClearChart 2™ was included with 4NITRO+ and 5NITRO+ Upgrades
Thirty-Five (35) New Templates were included with 4NITRO+ Upgrade
Fifty-Five (55) New Templates were included with 5NITRO+ Upgrade