Trying to find the cause of thinness... - page 2

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I think the direction-ality must be removed though , im wrong here.

Yeah i'm wrong 

Top with Fernando's calculation without directionality (MathAbs())

Bottom the original

Files:
baldness_index.mq4  6 kb
 
@Lorentzos Roussos #: I think the direction-ality must be removed though , im wrong here

Yes, it should be the absolute value of close-to-close range when compared to true range.

double ctotr=fabs(Close[i]-Close[i+1])/tr;
 
Fernando Carreiro #:

Yes, it should be the absolute value of close-to-close range when compared to true range.

Yeah it makes more sense now , thank you

 
Lorentzos Roussos #: Yeah it makes more sense now , thank you
You are welcome!
 
Lorentzos Roussos #:

I think the direction-ality must be removed though , im wrong here.

Yeah i'm wrong 

Top with Fernando's calculation without directionality (MathAbs())

Bottom the original

Thank you Lorentzos for your work!!! I find the last version very helpful to evaluate thinness. Thinness is not a directional feature of a chart itself, but it's crucial when one wants to avoid that "thick and choppy" markets! I just have a last request...add a writing on chart of the value of current bar of the average (the mixed one for me can be enough), so that it would be instantly accesible, and if it is possible make an MT5 version, that would complete the work 100%...Hope you can do it. Thanks again!
 
Gtrade #:
Thank you Lorentzos for your work!!! I find the last version very helpful to evaluate thinness. Thinness is not a directional feature of a chart itself, but it's crucial when one wants to avoid that "thick and choppy" markets! I just have a last request...add a writing on chart of the value of current bar of the average (the mixed one for me can be enough), so that it would be instantly accesible, and if it is possible make an MT5 version, that would complete the work 100%...Hope you can do it. Thanks again!

I'll look into it during the weekend . You can try though , it is not that difficult to transition it to mt5 .

You may also want to thank @Fernando Carreiro for his remarks  🤠

 
Lorentzos Roussos #:

I'll look into it during the weekend . You can try though , it is not that difficult to transition it to mt5 .

You may also want to thank @Fernando Carreiro for his remarks  🤠

I was sure to have said hello to him...however thank you again for having coded the indicator, not all are available to do that for free.
 
Gtrade #:
I was sure to have said hello to him...however thank you again for having coded the indicator, not all are available to do that for free.

Here you go i styled it a bit .  😇 

For the mt5 version you can open a freelance request for someone else to do it ,it should not be more than 30$ .

enjoy :)


Files:
ThinnessIndexV01.mq4  8 kb
 
Lorentzos Roussos #:

Here you go i styled it a bit .  😇 

For the mt5 version you can open a freelance request for someone else to do it ,it should not be more than 30$ .

enjoy :)


Perfect! Grazie.
 
Gtrade #:
Perfect! Grazie.

😊

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