"I would like to ask somebody to create indicator of Larry Williams. It's not actually indicator. Larry Williams introduces this as a concept in his book Long-Term Seecrets To Short-Term Trading. He calls it as a Greatest Swing Value (GSV). This value means distance between open and high (long side) or open and low (short side). He takes average of this value for few last days. But it is bit more complicated yet. For long side he counts only GSV for bars with down close (close lower than open) and for short side he count only bars with high close). That's all. We take as a buy or sell signal for example some percentage of GSV (180% by Larry W.). So that's it. If somebody would be able and willing to make this, I would really appreciate it"
Herer is the explanation of the Indicator:
- The green value is the average GSV in points for short Candle only (The top Bit of the short candle)
- The red value is the average GSV in points for long Candle only (The Bottom Bit of the Long candle)
Signal example
So lets say the Open of todays candle is at 2.0170 and I want to buy or sell at 1.8 of GSV.
=> Short GSV= ValueOfGreenBar*1.8 = X
=> Long GSV = ValueOfRedBar *1.8 = Y
I will now place a Buy at 2.0170+Y = A
and a Sell at 2.0170-X = B
Stop wiil be: for buy A-ValueOfRedBAr*1.5
for sell B+ValueOfGreenBar*1.5
For backtesting a want to ask CODERS make EA: on open of the day we place buy order and sell order by upfollow rules, if one order is open another cancel\do not cancel (optional), position close on stop or on the end of day if in profit, if in the end of day position is no profiting and stop do not rich wait another day untill profit or stop will be riched, do not place new order if we have do not closed position, if no one order was riched in the end of day all orders must be cancaled. Coeff "1.5" and "1.8" must be variable. Uses of TP, Trail stop - variable. If you have your own ideas pleas post it.
Sorry for my very bad english.
p.s. This method and indic from tsd by sunwest.
Herer is the explanation of the Indicator:
- The green value is the average GSV in points for short Candle only (The top Bit of the short candle)
- The red value is the average GSV in points for long Candle only (The Bottom Bit of the Long candle)
Signal example
So lets say the Open of todays candle is at 2.0170 and I want to buy or sell at 1.8 of GSV.
=> Short GSV= ValueOfGreenBar*1.8 = X
=> Long GSV = ValueOfRedBar *1.8 = Y
I will now place a Buy at 2.0170+Y = A
and a Sell at 2.0170-X = B
Stop wiil be: for buy A-ValueOfRedBAr*1.5
for sell B+ValueOfGreenBar*1.5
For backtesting a want to ask CODERS make EA: on open of the day we place buy order and sell order by upfollow rules, if one order is open another cancel\do not cancel (optional), position close on stop or on the end of day if in profit, if in the end of day position is no profiting and stop do not rich wait another day untill profit or stop will be riched, do not place new order if we have do not closed position, if no one order was riched in the end of day all orders must be cancaled. Coeff "1.5" and "1.8" must be variable. Uses of TP, Trail stop - variable. If you have your own ideas pleas post it.
Sorry for my very bad english.
p.s. This method and indic from tsd by sunwest.
Attached File(s)
