5NITRO+ Forex Indicator for New Metatrader 4 Builds 600+
The 5th 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+ Upgrade:
TITAN II™ has been upgraded to TITAN III™ Bollinger Bands and Money Flow Index were added to T3. 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.
Symbol Strength has been improved. An additional reading has been added. 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 is being added
The Bottom 4Boxes have been improved. MACD and OsMA have replaced DeMarker(DeMarker>DeMarker_shift_3 && DeMarker>0.50) and MFI. MFI has moved to T3 while DeMarker(DeMarker>DeMarker_shift_2) remains in T3. MACD is the top box which is current time frame. OsMA, like the existing RVI and AO below it, are higher time frames or current beginning at Daily.
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- 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 Outlook- displays (2) bars within the Copyright area and -Reduced Outlook- only displays (1) bar.
“5N+ More Data Needed ….” is present when there are less than 150Bars from any of the time frames needed for calculation. This will display while data is being downloaded and will be replaced with the meter when all data is finished downloading. ’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 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. Keep in mind however, 150 Bars is extremely small and the lack of only usually occurs for the Monthly time frame or newly added near month futures. This is why, as stated on the 5N+ Formula Page, we chose to only use Monthly data if loaded on a Monthly chart. 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. Contact your Broker to ensure the integrity of this 3rd party data source and the limiting of bad ticks that have not been corrected.
Additional, Upgraded Solid Backgrounds have been added as an option for all modes. Choice of Background Borders is also given. Border options are: flat, raised, sunken. There is a glitch within the MT4 enumeration in which the sunken option is called ‘non-dynamic pointer’. Color of these new Backgrounds need to have one value >=31 or else MT4 will automatically paint the borders white for some odd reason. Border Types are also an option for the 6Boxes and the NITRO Mode Action Bars.
Time Frames can now be chosen by the User. In previous MT4 Beta builds, there was indication that all of these TFs 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 12M will allow the User to fine tune the meter to suit. For example, a User can choose 12M from the drop down menu if they desire to quicken up the response when loaded on a 15M chart. These TF 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 15M chart, a User can choose to display 5 meters, 10M 12M 15M(current) 20M and 30M. 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 T3 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
Visual ‘NITRO Mode’ Alert Triggers are Now Adjustable. 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 will also control what the Bottom 4Boxes considers a “Neutral Trend” in the next upgrade. Current default Neutral Trend of the Bottom 4Boxes is T3<75.
A Possibly Overbought, Possibly Oversold dot matriXx™ Feature has been added. 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 (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. The programmer is coding 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 9 minutes or 22 hours are non-compliant with this new Offline Chart feature. Only use periodicities listed here: M1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30 H1 H2 H3 H4 H6 H8 H12 D1 W1 MN
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.
More Upgraded Display Modes – Additional Modes that match the OneClick Panel in size.
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.
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