Herrick Payoff Index for MT4

Hello fellows,

I am searching for the Herrick Payoff Index indicator for MT4 without any subscription.

Here is the one for MT5: https://www.mql5.com/en/market/product/9143

This indicator takes into consideration price, volumes and open positions on Daily charts.

Thanks for your kind help.

LS

Quote: "As this indicator (for futures!) needs the real (not tick-) volume and the open-interest which mt4 does not provide I think you won't find it and won't get it." (source)

I believe that this is likely to be correct. At the very least, you'd need to find a MT4 br0ker who provides futures instruments; or failing that, an indicator that gathers the necessary data from an external website (e.g. CME or CTFC). I attempted to do something like this here, but I don't know the calculation required for the HPI (it is given here, but this doesn't explain how to get the first value in the series, as each new value appears to be calculated from yesterday's value). And anyway, nowadays I don't have the time to code (neither for free, nor paid) for other traders.

Here is the HPI code for the Pine scripting language used by trading view. If you can find a programmer who knows both Pine and MQL4, he might find that code a helpful starting point. Also, if that code can be used free in TV (I'm not sure, I've never used it) then your simplest solution might be to run TV alongside MT4.

BTW, you probably have a better chance of getting a reply to this type of question if you post it in the 'Platform Tech' forum.

Thanks.

And realtime CME feed is not free....