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Hello Support,
Is it possible for you to develop Molanis Technical Indicator Builder with Excel type functions and formula capabilities?
Many people already know how to use Excel, if even only on a basic end-user level. The thing that makes Excel so flexible is the fact that you can combine both Mathematics and Logical Statements, to create Algorithms. And, really, that's the key. Being able to do more than draw a simple line from a Moving Average on a chart. Having the ability to create a more intelligent indicator, using Molanis Indicator Builder, would be a huge step in the right direction, I would think.
An indicator design can use historical OHLC data in any way imaginable. The indicator may not be Average based - which means that the indicator may not derive its meaning, value or worth as an indicator, by always calculating a mathematical average as its output value.
For example, I've created a new class of trading indicators that do calculate their own moving average. However, that moving average is calculated using the mathematical delta between multiple historical price points (OHLC) and not the price points (OHLC) themselves. So, my indicators actually "indicate" something that conventional price point based moving average indicators can't even detect. These are what I call Delta Class type indicators.
Then, you have the Geometric, or Harmonic Class of indicators (depending on how you want to look at the subject matter). Harmonic indicators do take on a certain Geometric pattern, or shape, but the value contained in the Harmonic indicator comes from the Fibonacci Ratios that exhibit themselves during the formation of the pattern. I've been able to build a prototype for the Harmonic or Geometric indicator or pattern recognition indicator using Excel, so I know it does work. The size of the pattern that gets recognized will vary, but the Ratios that determine pattern uniqueness, will always remain within a set of specified parameters and that can be coded into Molanis Indicator Builder.
Not all indicators are Average based and it would be very nice if Molanis were capable of providing the trader with a way to build genuinely custom indicators that are independent of traditional averaging methodologies. My Delta Class indicators and the more well known Harmonic (Geometric) class of indicators, are but two examples.
Again, the key would be to design Molanis Indicator Builder such that it is able to use the logical statements of: If Then/AND/OR/NOT, in conjunction with a more rich diversity of Mathematical/Statistical functions.
I'm not sure how advanced you want to make your Indicator Builder, but a whole lot more could be done with it. If you want to know more about my Delta Class Indicator prototype, or just bounce around some ideas about how a Harmonic/Geometric indicator builder might work, please feel free to drop me a line via email. I'd really like to see Molanis advanced and improved in this regard and I'd be willing to work with you to that end.
Cheers!
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