Script to calculate Average Daily Range? - page 3

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Simple daily range script

Script for calculation average daily range for last agoYear-"calendar" years, last agoMonth - calendar months, ......

Edit: remove script. See next post.

Files:
hrinput01.jpg  26 kb
hroutput01.jpg  21 kb
 

Cross currency trading

okfar:
Corrected errors in the determination of the date of the minimum and maximum rank.

Okfar,

Thank you for this useful tool.

Could you please develop one tool having at least six currencies with high-low (open-close prices in brackets) prices in pips and Average Daily Range (up-down) (with % and gmt switch)?

Two pics are attached as well as two indicators. One indicator I find from codebase and another from this site.

 

Something like this?

Files:
mp_dailystat_01.jpg  16 kb
 

Multi-Currency ADR

okfar:
Something like this?

Okfar

You really excel in your work. Please make two indies as explained in the chart.

This one is good . Please make another one too.

Thanks again

PJ

 
okfar:
Something like this?

How i made this picure .

Beta version of ind.

Inputs:

  • ISymbols = Curr. symbols separated by commas (no space, ...)
  • ChangeInPips = True - change in pips, False - change in %
  • statMode = 1 - last 24 hurs, 0 - from 00:00 (broker time) + timeAdj
  • timeAdj = difference between broker time and shown statistics

Update:

Max. nummbers of symbols = 10

Files:
mpdailystat.zip  8 kb
 
okfar:
How i made this picure .

Beta version of ind.

Inputs:

  • ISymbols = Curr. symbols separated by commas (no space, ...)
  • ChangeInPips = True - change in pips, False - change in %
  • statMode = 1 - last 24 hurs, 0 - from 00:00 (broker time) + timeAdj
  • timeAdj = difference between broker time and shown statistics

Update:

Max. nummbers of symbols = 10

The indy is not working. I put dll file in library. Is that correct?

 
pj9100:
The indy is not working. I put dll file in library. Is that correct?

Yes. (.\experts\libraries).

Areyou recieve any Alert, messages,.? Any error ?

Update:

If there is no alert or an error, try again.

Try changed ISymbols. Try first with currency pair on curren window.

 

Small update of mq4 file.

Add part of second indicator.

I hope, remove zero divide, if data not avalible......

Files:
mp_dailystat_v0.10.mq4  11 kb
 
okfar:
Small update of mq4 file.

Add part of second indicator.

I hope, remove zero divide, if data not avalible......

Excellent. ofcourse, I know you will fix the interface later.

Please modify the OUTPUT of pip/percent value for each MTF like this and give 3 switch for it: Open-Close , High-low, both.

because the space is limited, if both switch is selected, the High-low value should be put in brackets: like open-close difference 5 (20) then it will be clear that actual movement was 5 pips but the high-low range was 20 pips.

You will be happy that you have produced this simple but very powerful indicator.

Why? Just by watching this indicator, the fear of trading is gone. Because actually, the pip value is very less compared to high-low. Sometimes hardly 5 pips even though the high-low value for a day may be 300 pips.

That means if you keep free money in your margin account and you make a mistake by entering at a wrong time, then don't lose heart. You wait for the market retracement and then cut the position with small loss or may be profit. All depends on how much money of margin plus free funds you have kept in the account. After making calculation then only you can take risk.

Secondly this indy gives me a clear idea from these pips figures how volatile the market is. I don't need to watch any other volatility indicators like ADX or MOMO to decide whether the market is trending or moving sideway.

Please confirm that the data on the ADR screen (your first indicator) is percentage change of open-close from daily open (00:00 gmt) until the time of trading. After 24 gmt the values will be reset. Am I correct?

New traders will be able to get rid of their fear from watching this indy and understand the logic of volatility which is not same as the net change. So if you give volatility figure in brackets along with net change it will be very clear.

If you can put 30-minutes, 1 hour, 2- hour, 4- hour, 8-hour, 16-hour and 24 hours statistics in Open-close (high-low) then it will also be good addition to decide whether to enter the market or not for day-trading and range trading.

Plotting hourly momentum will be great. Make a separate screen for this.

And please do create a separate window option for this and if possible all three screens can appear in one separate window at different corners.

 
pj9100:
Excellent. ofcourse, I know you will fix the interface later.

Please modify the OUTPUT of pip/percent value for each MTF like this and give 3 switch for it: Open-Close , High-low, both.

because the space is limited, if both switch is selected, the High-low value should be put in brackets: like open-close difference 5 (20) then it will be clear that actual movement was 5 pips but the high-low range was 20 pips.

You will be happy that you have produced this simple but very powerful indicator.

Why? Just by watching this indicator, the fear of trading is gone. Because actually, the pip value is very less compared to high-low. Sometimes hardly 5 pips even though the high-low value for a day may be 300 pips.

That means if you keep free money in your margin account and you make a mistake by entering at a wrong time, then don't lose heart. You wait for the market retracement and then cut the position with small loss or may be profit. All depends on how much money of margin plus free funds you have kept in the account. After making calculation then only you can take risk.

Secondly this indy gives me a clear idea from these pips figures how volatile the market is. I don't need to watch any other volatility indicators like ADX or MOMO to decide whether the market is trending or moving sideway.

Please confirm that the data on the ADR screen (your first indicator) is percentage change of open-close from daily open (00:00 gmt) until the time of trading. After 24 gmt the values will be reset. Am I correct?

New traders will be able to get rid of their fear from watching this indy and understand the logic of volatility which is not same as the net change. So if you give volatility figure in brackets along with net change it will be very clear.

If you can put 30-minutes, 1 hour, 2- hour, 4- hour, 8-hour, 16-hour and 24 hours statistics in Open-close (high-low) then it will also be good addition to decide whether to enter the market or not for day-trading and range trading.

Plotting hourly momentum will be great. Make a separate screen for this.

And please do create a separate window option for this and if possible all three screens can appear in one separate window at different corners.

I think you may face difficulty in 2-hour, 4- hour and 16-hour because there is no timeframe for this in MT4. But I know you will find a way. I have high regard for your abilities.

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