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2 HR Time Period

  • #1
  • First Post: Mar 20, 2007 5:44pm Mar 20, 2007 5:44pm
Hello MT4 Guru's

AS we dont have a 2HR time frame on meta trader, Can any of you guide/point me to an indicator or any resource of how I can achieve that. Also, can we plot moving averages on these 2HR time frames.

Your help is much appreciated.

Rishi
  • #2
  • Mar 20, 2007 5:51pm Mar 20, 2007 5:51pm
Have a look here http://codebase.mql4.com/277
Didn't personally use it but I heard people use it successfully once its setup.
-soso
  • #3
  • Mar 20, 2007 5:56pm Mar 20, 2007 5:56pm
If there isn't an indicator, check out AccuCharts. They have many timeframe and chart mechanics that MT4 doesn't. It isn't editable like Meta is though.

That or you could just cut the MA in half from the 1hr and wait for two bars to close? It would be roughly the same thing. For instance, 10ma on 1hr is 20 on 30min and would be 5 on 2hr. Thus you plot the 5 and wait for 2 bars to close on 1hr chart. It will be a little off, though if MT4 is a must then that is what I would do.

3rd option would be use a web-based chart:

IT FINANCE CHARTS - http://www.cbfx.com/charts/chartsdemo.htm

They have 2hr charts.

Hope this helps

EDIT: AccuCharts is an FXsol service. www.fxsol.com
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #4
  • Mar 20, 2007 11:20pm Mar 20, 2007 11:20pm
Thanks!. Will try the Indicator.
  • #5
  • Mar 21, 2007 1:05am Mar 21, 2007 1:05am
Best period converter I have ever used on MT.

Check it out.
Attached File(s)
File Type: mq4 periodcon.mq4   16 KB | 5,203 downloads
凹凸 only
  • #6
  • May 23, 2007 12:20am May 23, 2007 12:20am
Hi MT4 gurus

I tried the instructions on the indicator but unable to get the 2 Hour chart running.

Can somebody please help!

Thanks
Rishi
  • #7
  • May 23, 2007 2:29am May 23, 2007 2:29am
I have been using the period converter for a couple of months now, no problems have been seen, I run it on 2,3,6,8,12 hr charts and 10m intraday.

Here are the instructions.
Attached File(s)
File Type: doc period converter.doc   28 KB | 3,921 downloads
  • #8
  • May 23, 2007 4:12am May 23, 2007 4:12am
Hi Rishi

As far as I can tell, ‘periodcon.mq4’ supplied by Samuri is actually a later version (v 1.5) of the same indicator in soso_betons’ link (v 1.4).

Version 1.5 apparently has a ‘time shift’ option. According to the notes:
“Added TimeShift option, can be used to shift hour timeframe to generate daily timeframe when your timezone is different from the server, default is zero.”

I haven’t tested this new option yet.

Anyway, here’s what you need to do:

1. Copy periodcon.mq4 to folder
c:\metatrader 4\<supplier folder name>\experts\indicators

2. Run MetaEditor (press F4 from MT4); then load periodcon.mq4 (press Ctrl-O) and compile it (press F5). Then exit MetaEditor (Press Alt-F4).

3. Back in MT4, open the Navigator (Ctrl-N), and drag ‘periodcon’ from the ‘Custom Indicators’ section onto your main chart (e.g. GBPUSD,H1).

4. Set the parameters to suit (e.g. to generate an H2 chart from the H1 chart, set the PeriodMultiplier to 2), and then before you click OK, go to the ‘Common’ tab and ensure that ‘Allow DLL imports’ is checked ON.

5. Run menu option File/Open Offline and select the GBPUSD,H2 chart.

The new H2 chart should update itself in real-time.

Hope this helps
David

PS You may like to also check out: http://www.forexfactory.com/showthread.php?t=29624
  • #9
  • May 23, 2007 4:38am May 23, 2007 4:38am
I've just tried out the TimeShift option.

It looks like you can adjust this by simply editing the periodcon indicator in the base chart (H1 in my previous example), and after changing the TimeShift value, immediately you re-visit the synthetic (H2) chart, the bars are automatically shifted. Pretty cool.

For example, if TimeShift=0, then the 6:00 bar on the H2 chart aggregates the 6:00 and 7:00 candles from the H1 chart.

If you then set TimeShift=1, then the 6:00 bar on the H2 chart aggregates the 7:00 and 8:00 candles from the H1 chart.

And if you set TimeShift=-1, then the 6:00 bar on the H2 chart aggregates the 5:00 and 6:00 candles from the H1 chart.

And so forth.

David
  • #10
  • May 23, 2007 8:06am May 23, 2007 8:06am
Quoting hanover
I've just tried out the TimeShift option.

It looks like you can adjust this by simply editing the periodcon indicator in the base chart (H1 in my previous example), and after changing the TimeShift value, immediately you re-visit the synthetic (H2) chart, the bars are automatically shifted. Pretty cool.

For example, if TimeShift=0, then the 6:00 bar on the H2 chart aggregates the 6:00 and 7:00 candles from the H1 chart.

If you then set TimeShift=1, then the 6:00 bar on the H2 chart aggregates the 7:00 and 8:00 candles from the H1 chart.

And if you set TimeShift=-1, then the 6:00 bar on the H2 chart aggregates the 5:00 and 6:00 candles from the H1 chart.

And so forth.

David
Hi, David,

Glad you enjoyed it.

Actually for the japanese candle tech fans, this indicator can help in creating daily candles counting from any specific hour start, e.g.: european start, US start, hence brings fresh candle views to the trader.

I did this time ago when I studied the candle pattern tech, and found it to be more meaningful comparing to the international daily counting.

Cheers.
凹凸 only
  • #11
  • May 23, 2007 8:16am May 23, 2007 8:16am
Check this one !

It works properly.

http://www.forexfactory.com/showpost...2&postcount=12
42
  • #12
  • May 24, 2007 4:34pm May 24, 2007 4:34pm
It works now. Thaks for all the help!!
  • #13
  • May 14, 2008 9:33pm May 14, 2008 9:33pm
Quoting Freewheelin
Check this one !

It works properly.

http://www.forexfactory.com/showpost...2&postcount=12
  • #14
  • May 29, 2008 9:34am May 29, 2008 9:34am
Can anyone tell me if you can run EA's as per normal off a period converted chart?

Thanks
  • #15
  • Jul 27, 2009 4:03am Jul 27, 2009 4:03am
Hi Guys,

Know this thread has been quiet for awhile...
I'm trying to display shifted 1 hour and 4hour charts...

2 things
1) If i want to display 1hour charts with timeshift, I need to use an 'original' lets say, 30min and x2 that. Right?

2) I tried to get a 4hour offline chart w timeshift from a 1hour.
edited periodcon timeshift value... can't quite get the 4hour to shift.

would appreciate abit of help if possible.

My current starting times display kinda crap charts.

Many thanks in advance

Cy
One Mind, Any Market
  • #16
  • Jul 27, 2009 4:56pm Jul 27, 2009 4:56pm
Quoting Cyrus
Hi Guys,

Know this thread has been quiet for awhile...
I'm trying to display shifted 1 hour and 4hour charts...

2 things
1) If i want to display 1hour charts with timeshift, I need to use an 'original' lets say, 30min and x2 that. Right?

2) I tried to get a 4hour offline chart w timeshift from a 1hour.
edited periodcon timeshift value... can't quite get the 4hour to shift.

would appreciate abit of help if possible.

My current starting times display kinda crap charts.

Many thanks in advance

Cy
Attach the indicator below to a H1 chart, and set TimeFrame parameter to 240 (i.e. 4 hours). Then adjust CustomCandleTimeShift parameter to suit: a positive number moves the synthetic candle one chart period (H1 in this case) to the right, negative to the left.
Attached File(s)
File Type: mq4 CustomCandle6.mq4   9 KB | 939 downloads
  • #17
  • Jul 28, 2009 8:25pm Jul 28, 2009 8:25pm
Hanover, thank you.
Let me give it a shot.

I think my problem with periodcon has been encountered before as well,

"I think the problem is that the actual (as opposed to the synthetic) chart already exists, and the periodcon indicator can't overwrite it. However, I will investigate further and report back here."

Btw, regarding the candle aggregator and PB methods.
I find that thinking in terms of candlestick patterns helps alot.
A 2hour Pinbar is in essence a Piercing type variation in the 1 hour.

Just my 2 cents, I find that the relative range of the candle pattern to its surrounding candles is one of the key factors to pattern reliability.
This and of course, confluence of S/R.

Appreciate your work much dude. Many thanks =)
One Mind, Any Market
  • #18
  • Jul 28, 2009 9:23pm Jul 28, 2009 9:23pm
Hanover,

Good stuff. Works well.

Put your indicator on a line chart (I turned that colour off),
and used the timeshift function to get synthetic 4hour charts.

Helps to identify Pinbars when different time periods give pinbars.

=)

Oh. this is GMT+1 btw
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard01.gif Size: 26 KB
One Mind, Any Market
  • #19
  • Jul 28, 2009 10:53pm Jul 28, 2009 10:53pm
Quoting Cyrus
Just my 2 cents, I find that the relative range of the candle pattern to its surrounding candles is one of the key factors to pattern reliability.
This and of course, confluence of S/R.
Agreed!

Candle pattern + 'quality' S/R + trend + low risk entry + willingness to allow some profit run = $$$$
  • #20
  • Jul 29, 2009 11:03pm Jul 29, 2009 11:03pm
Hanover,

Got a quick question about ur indicator...

Any idea how to consistently remove this splotch tt occurs on every 4hour close?

Thanks in adv

It's e red patch @ the end
Attached Image (click to enlarge)
Click to Enlarge Name: Splotch.gif Size: 22 KB
One Mind, Any Market
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