Here is a picture of an indicator that measures how many times price has touched a particular price level. This indicator could be developed into something more valuable but I am not a programmer.
Instead of using a grid that only uses an arbitrary number of pips to make levels (for how many times price touched a certain point), using historical data to make the levels seems to make more sense. But, you would also have to determine how many times price reversed from that point or continued through that point.
A talented programmer may be able to use this indicator code to start from?
Keep looking to the light,
pipsqueak4x
Instead of using a grid that only uses an arbitrary number of pips to make levels (for how many times price touched a certain point), using historical data to make the levels seems to make more sense. But, you would also have to determine how many times price reversed from that point or continued through that point.
A talented programmer may be able to use this indicator code to start from?
Keep looking to the light,
pipsqueak4x
Attached File(s)
Level Sensor new.mq4
5 KB
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723 downloads