Elite indicators :) - page 1122
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Hi,
probably it is not possible in mt4, but i try: i'm looking for a generator that is able to creare a chart as the average of 4 different instruments. ("formula" is in the pic). Does it exist something similar?
MR.Mladen & MR.Tools please list out the LEADING INDICATOR,S
I MYSELF KNOWS ONLY THIS.......
1.) RSI
2.) STOCHASTIC
3.) DEMAND INDEX
4.) WPR
please help me..........................THANKYOUHere is your list of leading 'indicators':
- Volume
What is an indicator? It shows and follows a changing state (here the price) and interpret it by a formula. So, by definition it can never lead.
Here is your list of leading 'indicators':
- Volume
What is an indicator? It shows and follows a changing state (here the price) and interpret it by a formula. So, by definition it can never lead.yes,volume with some correlator if you have any perfect volume and correlator.
Volume in forex is just ticks
If we take a look at the 1 hour chart and observe the volume, we can clearly see that it is just showing the expected intraday sessions activity : raising at London open and falling as the NY session approaches the end. The maximum is reached when London and NY are overlapping. So, there is nothing unusual nor out of the order regarding volume. And none of that information can be used in real trading (unless we count on implied volatility - but that can be a dead end - just see a last couple of days and what was going on with the "volatility")
Hello everybody!
Wulong (with a lot of help)added the different arrows options for classic and hidden divergence.
adaptable_rsi__smoothing__divergence_2.ex4
Can you add alert in this indicator? When the arrows and dots on divergences ... And Alert separately on two types of divergence!
Thanks!
Volume in forex is just ticks
If we take a look at the 1 hour chart and observe the volume, we can clearly see that it is just showing the expected intraday sessions activity : raising at London open and falling as the NY session approaches the end. The maximum is reached when London and NY are overlapping. So, there is nothing unusual nor out of the order regarding volume. And none of that information can be used in real trading (unless we count on implied volatility - but that can be a dead end - just see a last couple of days and what was going on with the "volatility")
H1 and H4 aren't suitable for volume or ticks, but look at M1-M15 and D1-W1 where the influence of trading sessions is neglected.
H1 and H4 aren't suitable for volume or ticks, but look at M1-M15 and D1-W1 where the influence of trading sessions is neglected.
krelian99
As far as "volume" is concerned, all I wanted to point out is the periodicity of "volumes" in forex
Time frames lower that 1 hour are, regarding that, nothing but noise (often influenced with simplest profit taking before the news and quick orders jumping in after the news). But 1 hour is giving us a good overall point of view of periodicity of trading activities (like the example bellow). Good indicator that helps to see that periodicity is the Marney volume indicator (the one used in the example). As you can see, deviations from usual daily activity are rather rare and are clearly showing market working activity - not market conditions changes
Here is one more example
Marney volume indicator is (extended version) was made to predict the volume, and by the end of the day we can check and the volume will fit closely to the predicted part - but it will not help us in trading. All this is done on a 15 minute chart, but intraday changes are taken into account when values are calculated - that is why the "predictability" of volume is so high using that indicator
This Marney indicator fails on M1-M5 heavily, even on D1 and higher (but this is clear). The key is comparing volume with PA, I mean where higher volume occurs and how big the candle body is. Volume alone is useless, with PA, S/R and trendlines it is really good, but it needs time to see throught the picture of noise and what lies behind the surface. The approach of trading compared to trend friends is of course totally diffrent, but I think it can't never be bad to know whether market will be actually bearish or bullish. You as programmer look on code and know what it will do when compiled (I don't mean the quality of the calculations). A normal guy looks on code and see letters and numbers without sense for him and when you ask him how he would call it, he'll most probably say "noise".
This Marney indicator fails on M1-M5 heavily, even on D1 and higher (but this is clear). The key is comparing volume with PA, I mean where higher volume occurs and how big the candle body is. Volume alone is useless, with PA, S/R and trendlines it is really good, but it needs time to see throught the picture of noise and what lies behind the surface. You as programmer look on code and know what it will do when compiled (I don't mean the quality of the calculations). A normal guy looks on code and see letters and numbers without sense for him and when you ask him how he would call it, he'll most probably say "noise".
I have a feeling that we are talking about the same thing using different words
We can not use time frames like 1 minute and 5 minute for anything but guessing game. There is too much noise on those time frames. The volume-per-bar (and I mean the real traded volume, not the volume that we have in forex) on those time frames can not be taken as a representative sample of anything. We would need much higher real volumes to be able to conclude anything from them. This way, those time frames are more or less left to momentum traders and gamblers
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PS: even on 5 minute charts, statistical deviation from volume is within expected bounds. So, even on 5 minute charts that Marney volume indicator is behaving as expected. Events like FOMC are highly predictable as deviations, and can not be taken as an evidence of calculation failing, since their periodicity is very low (they happen only now and then) and we even do not need indicators to predict high activity in times like that