Recent Price History Histogram
Hello all,
First and foremost I want to thank everyone that makes great websites like this happen. From the administrators, moderators, and members. I have learned so much from this website and I want to thank you all. This is my first post so had I had say that first. Im a System/Network Engineer but programming is not my strongest area. Last time I programmed was as a teenager trying to write a AOL prog if any of you remember those good old days. 
I have this idea for a new indicator. Well I am not certain if someone has already made one of this kind or not. It is based on Recent Price History. There have been many times in which a trade has been going against me and many times in a couple of days if I would have held on it, it would have been profitable. Or at least I wouldn't have suffered such a big lost. If only I knew I asked myself. But that future price is unknown. Thats why we have technical indicators to analyze the past history. But we do know that History trends to repeat itself. (drums) Get it. Trends, tends,Trends. Anyways, since history does tend to repeat itself. Perhaps this will would be a great asset to the short term trader or scalper.
An example would be if the daily range of USD/CHF is H 1.0643 L 105.02. Then all prices between all of them would have a value of one. Then the next day H 105.90 L 104.44. Then some values would have a 2, and others a one. Hence forth. A histogram can be made. I am uncertain if it would be better for the bars on the histogram should represent their value, or it is should be relative to a certain percentage of the total price action. Well I leave that up the the great programmers here.
I am not sure if this is a good idea or not, and would like some insight into it.wow u great man 
rite now im 
ready...
just learn n learn from this forum...
keep it up bro 
What you're looking for is basic market profile. It's available stock on almost all charting packages except MT4 (Tradestation, e-signal, ensign, etc.). I have seen an MT4 inidcator for it. Search the forums, it's out there.
Hello all,
First and foremost I want to thank everyone that makes great websites like this happen. From the administrators, moderators, and members. I have learned so much from this website and I want to thank you all. This is my first post so had I had say that first. Im a System/Network Engineer but programming is not my strongest area. Last time I programmed was as a teenager trying to write a AOL prog if any of you remember those good old days.
I have this idea for a new indicator. Well I am not certain if someone has already made one of this kind or not. It is based on Recent Price History. There have been many times in which a trade has been going against me and many times in a couple of days if I would have held on it, it would have been profitable. Or at least I wouldn't have suffered such a big lost. If only I knew I asked myself. But that future price is unknown. Thats why we have technical indicators to analyze the past history. But we do know that History trends to repeat itself. (drums) Get it. Trends, tends,Trends. Anyways, since history does tend to repeat itself. Perhaps this will would be a great asset to the short term trader or scalper.
An example would be if the daily range of USD/CHF is H 1.0643 L 105.02. Then all prices between all of them would have a value of one. Then the next day H 105.90 L 104.44. Then some values would have a 2, and others a one. Hence forth. A histogram can be made. I am uncertain if it would be better for the bars on the histogram should represent their value, or it is should be relative to a certain percentage of the total price action. Well I leave that up the the great programmers here.
I am not sure if this is a good idea or not, and would like some insight into it.What you're looking for is basic market profile. It's available stock on almost all charting packages except MT4 (Tradestation, e-signal, ensign, etc.). I have seen an MT4 inidcator for it. Search the forums, it's out there.
Well I was thinking more along the lines of a Price By Volume Indicator
I know because of the nature of the Forex beast that Volume can not be correctly calculated. But is there any indicator for MT4 of this nature.
Perhaps, instead of volume. Maybe calculate the amount of time, or ticks within a certain range or price area.
Below is a link explaining the indicator more in detail.
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Hello all,
First and foremost I want to thank everyone that makes great websites like this happen. From the administrators, moderators, and members. I have learned so much from this website and I want to thank you all. This is my first post so had I had say that first. Im a System/Network Engineer but programming is not my strongest area. Last time I programmed was as a teenager trying to write a AOL prog if any of you remember those good old days.
I have this idea for a new indicator. Well I am not certain if someone has already made one of this kind or not. It is based on Recent Price History. There have been many times in which a trade has been going against me and many times in a couple of days if I would have held on it, it would have been profitable. Or at least I wouldn't have suffered such a big lost. If only I knew I asked myself. But that future price is unknown. Thats why we have technical indicators to analyze the past history. But we do know that History trends to repeat itself. (drums) Get it. Trends, tends,Trends. Anyways, since history does tend to repeat itself. Perhaps this will would be a great asset to the short term trader or scalper.
An example would be if the daily range of USD/CHF is H 1.0643 L 105.02. Then all prices between all of them would have a value of one. Then the next day H 105.90 L 104.44. Then some values would have a 2, and others a one. Hence forth. A histogram can be made. I am uncertain if it would be better for the bars on the histogram should represent their value, or it is should be relative to a certain percentage of the total price action. Well I leave that up the the great programmers here.
I am not sure if this is a good idea or not, and would like some insight into it.