Attachments: How Wags Trades - TAS System

How Wags Trades - TAS System

#281
Jun 30, 2020 11:19pm Jun 30, 2020 11:19pm

ManilaSpurs
| Joined Jan 2012 | Status: COYS | 60 Posts

Quoting tiestobob

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{quote} short trade ?

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Take a look on the top of the page there is his account with all the open trades! and yes AUDCAD short.

#282
Jul 1, 2020 2:32am Jul 1, 2020 2:32am

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting rogerha

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Just an idea here, but i have been looking at doing some coding around OBV based on some of the ideas presented here, and (for reasons I haven't yet worked out), using iOBV in MQL4 is giving me different values to using the built-in OBV indicator. Given the way that OBV calculates, could it not be influenced by the number of bars you have loaded in your chart. It is a cumulative value, so if you start from different position (for example 1000 bars back as opposed to 3000 bars back) you will inevitably get different values. Furthermore, if you look...

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Morning Roger

Wouldnt it recalculate each time we change zoom on chart if this was the case?

Paul

#283
Jul 1, 2020 4:39am Jul 1, 2020 4:39am

Thakkx
| Joined Jun 2020 | Status: Trader | 63 Posts

To me this all depend on how far your broker goes on the quote. For example AUDCAD on CMC broker goes far back as far as 1 Sep 2018 and on that day OBV is 0 and then as OBV is cumulative total of volume it will be different to the user whose broker goes beyond 2018.
On Meta Quote demo account AUDCAD goes back as far as 1993, but Volume only started capturing from around 1 August 2009 when OBV was 0.
Not sure how can we work around this unless we all have the same broker

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#284
Jul 1, 2020 4:53am Jul 1, 2020 4:53am

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting Thakkx

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To me this all depend on how far your broker goes on the quote. For example AUDCAD on CMC broker goes far back as far as 1 Sep 2018 and on that day OBV is 0 and then as OBV is cumulative total of volume it will be different to the user whose broker goes beyond 2018. On Meta Quote demo account AUDCAD goes back as far as 1993, but Volume only started capturing from around 1 August 2009 when OBV was 0. Not sure how can we work around this unless we all have the same broker {image} {image}

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Makes perfect sense, i think there is a setting in mt4 to display xxx amount of bars, dont know if this would make a difference, or if some clevr person could add a period setting to OBV and then we could adjust

#285
Jul 1, 2020 5:22am Jul 1, 2020 5:22am

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Chris just made this adjustable OBV indi where we can all set the same amount of previous bars

1000 bars

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Name: audcad-h1-oanda-division7.png
Size: 58 KB

300 bars

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Attached File(s)

OBV Adjustable.mq4 7 KB | 353 downloads

#286
Jul 1, 2020 5:23am Jul 1, 2020 5:23am

rogerha
Joined Aug 2006 | Status: Trader | 362 Posts

I have done some more reading overnight guys, and fundamentally this is a 'feature' with OBV, and that is why it is very much a visual aid to trading rather than the numbers being meaningful. So you can load it one day on one chart and depending on the timing of the data feeding it get a different result loading a chart one week later. The other interesting 'feature' is that OBV does not take into account the size of the price movement in relation to the volume measurement. This means that news spikes, large candles etc (which can vary significantly from broker to broker) can adversely affect the OBV result from broker to broker, as well as the obvious different measurements in Volume because of the de-centralized Forex market itself.

I don't mean to detract from the strategy itself, obviously OBV is a valuable tool as Paul is demonstrating, but it is one of the reasons Chaikin Money Flow etc, are used instead. I have been running both simultaneously as an experiment for a few days, and it has picked up divergence I didn't see on OBV.

I tested yesterday setting the Bar history in MT4 to see if it would influence the OBV, and it didn't seem to. So I think Thakkx might have hit upon it.

#287
Jul 1, 2020 5:46am Jul 1, 2020 5:46am

rogerha
Joined Aug 2006 | Status: Trader | 362 Posts

Quoting Wags

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Chris just made this adjustable OBV indi where we can all set the same amount of previous bars 1000 bars {image} 300 bars {image} {file}

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The genius of having a coder to hand !

#288
Jul 1, 2020 5:50am Jul 1, 2020 5:50am

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting rogerha

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{quote} The genius of having a coder to hand !

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Took him about 2 minutes

#289
Jul 1, 2020 6:56am Jul 1, 2020 6:56am

Thakkx
| Joined Jun 2020 | Status: Trader | 63 Posts

Quoting Wags

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Chris just made this adjustable OBV indi where we can all set the same amount of previous bars 1000 bars {image} 300 bars {image} {file}

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Perfect thanks, so are we all going by 1000 or 300 bars? It would be good idea to update post 1 so that everyone see the same setup...