Re: MT4 Indicator requests and ideas

2832
Hi guys!

Me a forex trader & I use Wyckoff method to analyse the charts.

Now in Wyckoff method we have this concept of Shortening of Thrust (SoT), in this what we do is compare the range of the new low made, lemme explain with an example, in the below chart the window in the centre is volume bars, & the lower most window has the range bars. The lower range of bar B here is measured from the close of bar A to the close of bar B, what I'm looking for is the range should be measured from the low of bar A to the low of bar B & not the close.

so what does the range of bar B tells me, it says that though volume of both bar A & B is same but there is no ease of movement on the downside on bar B, which means there's buying pressure from below on bar B.

I hope I made myself clear, is it possible?

Thanks.
These users thanked the author Yuvrajjj for the post:
pacois

Re: MT4 Indicator requests and ideas

2833
Yuvrajjj wrote: Wed Jan 31, 2018 10:10 pm Hi guys!

Me a forex trader & I use Wyckoff method to analyse the charts.

Now in Wyckoff method we have this concept of Shortening of Thrust (SoT), in this what we do is compare the range of the new low made, lemme explain with an example, in the below chart the window in the centre is volume bars, & the lower most window has the range bars. The lower range of bar B here is measured from the close of bar A to the close of bar B, what I'm looking for is the range should be measured from the low of bar A to the low of bar B & not the close.

so what does the range of bar B tells me, it says that though volume of both bar A & B is same but there is no ease of movement on the downside on bar B, which means there's buying pressure from below on bar B.

I hope I made myself clear, is it possible?

Thanks.
Clear !! Indicators you can post Thanks.
These users thanked the author pacois for the post:
berserkyjc


Re: MT4 Indicator requests and ideas

2836
pacois wrote: Thu Feb 01, 2018 12:35 am

Hello, try if I understand your intentions, I'm not a professional of the mq4 code, I sent you a message in private, so I did not post it directly.
precisely what I was lookin, thanks buddy! :)

lemme illustrate how to to read these modified range bars, volume on bars C & D are high with slightly less on bar D but there's negligible downward progress on bar D as compared to bar C. it is evident on Pacois' modified indicator (bottom window). This implies there was heavy buying on bar D.

Re: MT4 Indicator requests and ideas

2837
Zelias wrote: Wed Jan 31, 2018 8:30 pm Hi Team,

Could anyone kindly add Lines/Arrows and Alerts when there is a CROSS of Main and Signal lines for the attached indicator (unless there is a version out there that already has those)?

Thanks a lot.

rsima 13 nmc 6 lines.mq4
This one does that.
These users thanked the author mrtools for the post (total 4):
Zelias, macd & rsi, KAYJIRAH, Jedidiah


Who is online

Users browsing this forum: Amazon [Bot], bbookgenius, Facebook [Crawler], Mickey Abi, RodrigoRT7, rudiarius, Yandex [Bot] and 89 guests