Median of a Price Series

Looking for an indicator that calculates the median, NOT AVERAGE, of a price series. The only way I know to get the median is to sort the data and I have not been able to get MT4 to do that. Any help greatly appreciated.

tb

tboyett,

Place a 'Moving Average' indicator on the chart. When the 'Parameters' window pops-up. Use the 'Apply to' drop-down list to select 'Median price'.

lucidlamp

Lucid -

Even though MT4 calls it median price, it is actually the midpoint price of each bar. That is not what I'm after. I will quote wikipedia's definition of median:

In probability theory and statistics, a median is described as the number separating the higher half of a sample, a population, or a probability distribution, from the lower half. The median of a finite list of numbers can be found by arranging all the observations from lowest value to highest value and picking the middle one.

Thanks,
tb

tboyett,

So, according to the wikipedia, if a 5 minute bar contains 4 ticks:

1.0000, 1.0002, 1.0002, 1.0006

the median would be 1.0002, as opposed to what I suggested which would be 1.0003 ((H-L)/2)?

lucidlamp

Anyone have an incore sort?

MT4 does not keep tick data, so it's unable to determine the "true" median price of a bar for its calculations.

However, you can straightforwardly set up a tick-collection system and start building your own tick library, which you can use to determine the median price of a bar easily.

To start building a tick library, consider this helpful reference.

Lucid, exactly right.

tb

Folks,

A generous programmer has provided a nice custom indicator that works perfectly (at least according to my experience) and I am happy to share it with you. Enjoy. And thanks to our programmer.

tb

tboyett,

I misinterpreted your request but I am glad you received what you were looking for.

Thanks for the code as well,

lucidlamp