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Техническое задание
Net Movement (NM) Arrow Indicator
Abbreviations used in this document:
Net Movement = NM
Close Price of the candle = CP
Pivot Point of the candle = PP
Bottom Wick Length in pips = BW
Top Wick Length in pips = TW
This is an indicator which places a green arrow below the low of EVERY candle when NM arrow is up for that particular candle and places a red arrow above the high of EVERY candle when NM is down for that particular candle. In essence, either an up arrow or a down arrow will be assigned to every candle ONLY after the candle has completed its formation.
For all pips numbers, use 5 decimals for non-JPY pairs and for JPY pairs, use 3 decimals.
Sign Assignment for BW: Even though BW is either a finite positive number or zero for all candles, for the sake of this NM Arrow indicator, always assign + ve sign in front of this BW number in the NM arrow calculation below, because BW represents buyers’ force, pushing the price up.
Sign Assignment for TW: Even though TW is either a finite positive number or zero for all candles, for the sake of this NM Arrow indicator, always assign – ve sign in front of this TW number in the NM arrow calculation below, because TW represents sellers’ force pushing price down.
PP is calculated as below:
(High Price of the candle + Low Price of the candle + Close Price of the candle) / 3
Procedure for Arriving at NM Arrow:
Calculate (CP – PP) value in pips for each candle. This number can be a + ve number or a – ve number or a zero.
1. If (CP – PP) is a + ve number, then add BW to it. The BW is either a finite number or a zero. The result is a + ve [(CP – PP) + BW] number in pips.
Compare + ve [(CP – PP) + BW] number with TW number. Remember to assign – ve sign in front of TW number, as mentioned above in Sign Assignment for TW.
a. If [(CP – PP) + BW] number is a larger + ve number compared to the smaller – ve TW number, then NM arrow is up for this candle. The NM arrow indicator that you are designing should show a green arrow under the low price of this candle.
b. On the other hand, if [(CP – PP) + BW] is a smaller + ve number compared to the larger – ve TW number, then NM arrow is down for this candle and the NM arrow indicator should show a red arrow above the high price of this candle.
2. If (CP – PP) is a – ve number, then add TW to it, which is either a finite number or a zero. As mentioned in Sign Assignment for TW above, remember to assign – ve sign in front of TW number before adding to – ve (CP-PP) number. The result is a – ve [(CP – PP) - TW] number in pips.
a. Compare – ve [(CP – PP) - TW] number with BW number which is either a finite number or a zero. Before comparison, remember to assign + ve sign before BW number, as mentioned above in Sign Assignment for BW. If [(CP – PP) - TW] is a larger – ve number compared to the smaller + ve BW number, then NM arrow is down for this candle and the NM arrow indicator should show a red arrow above the high price of this candle.
b. On the other hand, If [(CP – PP) - TW] is a smaller – ve number compared to the
larger + ve BW number, then NM arrow is up for this candle and the NM indicator should show a green arrow below the low price of this candle.
3. If (CP – PP) is zero (this means CP = PP), compare the BW number in pips with TW number in pips. Both BW and TW numbers can be finite numbers or zeros. As mentioned above in the Sign Assignments for BW and TW, add + ve sign in front of BW number and a – ve sign in front of TW number.
a. If BW is a larger + ve number compared to the smaller - ve TW number, then NM arrow is up for this candle and the NM indicator should show a green arrow below the low price of this candle.
b. On the other hand, if TW is larger – ve number compared to a smaller + ve BW number, then NM arrow is down and the NM indicator should show a red arrow above the high price of this candle.
The indicator should have the following changeable settings in it:
a. This indicator should always place the red arrow and green arrow at a distance from the high or low of the candle. This distance should be changeable with a setting.
b. This indicator should have visualization setting so that it is visible only in time frames of our choice.
c. The size of the arrow should be changeable
d. The color of the arrow should be changeable.