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Dear participants! I decided to simplify the indicator greatly, without much loss of information content. Now it has only two levels: the level of the current price Q and the level of the market price P. The Q is a real level, and P is a virtual one, but this makes P no less important than Q. Suffice it to say that the price is formed due to the second wing of P. The matter is that P always consists of 2 wings, if one can put it that way and one of them is always visible to us in the form of the current price of P, and the other part is not visible to us. This indicator is designed to display this invisible, but real market price level P. A lot depends on the relative positions and the nature of the Q and P movement, and we must learn to interpret them in favor of a profitable trade, especially as they are constantly turning into each other. Here is an example for the euro/dollar as of 07 07/2015:
In kind:
and a cropped version:
Same for 2010-2011:
. What will the indicator look like? Very simple - on the terminal, parallel to the existing candlestick, a candlestick of market prices will be formed and by their mutual location, nature and dynamics of movement, we will judge about the state and direction of the current price movement.
Come on, come on, Yusuf! Swing the theme! Just be careful with the "wings" IMHO, as at first it looked to me like the birds were about to go... :-)
Waiting for the indicator and the article on mt5.
Come on, come on, come on, Yusuf! Swing the theme! Just be careful with the "wings" IMHO, as at first it looked to me like the birds were about to go... :-)
Looking forward to the indicator and the article on mt5.
OK, although I am already bringing this up in the comments. I will add the USD/JPY pair.
I decided to greatly simplify the indicator, without much loss of informativeness. Now there are only two levels in it: the current price level C and the market price level P.
What about "Lion" with 3 break-even levels .... Screw it, it's all down to a signal from 2 lines (C+R)? Bad. Or can they clearly assert a trend reversal?
The original version was more intriguing. Yes, the "wing" (P lines) is what part ?
What about "Lion" with 3 break-even levels .... screw it, it's all down to a signal from 2 lines (C + P)? Bad. Or can they clearly claim a trend reversal?
The original version was more intriguing. Yes, the "wing" (P lines) is what part ?
The Lion and 3 break-even levels are retained, just, these lines are not shown, but the result is given as Price and Market level.
Lion level (Copt) = (P*C)^0.5;
Leopard level (Tsr) = (P+C)/2;
Bears level = Tsr or R;
Bulls level = R or Ts;
R = - S/Y.
It looks very much like an overlap of past periods. Is this the case?
and you get the price level and the derivative of overbought and oversold.
and what was the point of doing that?
and you get the price level and the derivative of overbought and oversold.
and why would you make such a mess?
and you get the price level and the derivative of overbought and oversold.
and what was the point of doing that?
Theory to explain past movements