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Request For An Indicator

  • #1
  • First Post: Edited 8:08am May 25, 2007 6:44am | Edited 8:08am
Hello dear FF members.

I would like to keep it short and request an indicator for MT4 trading platform.

The description is as follows:

The indicator shoud calculate the difference between the high and low of the most recent candle, for example H= 1.3500 L=1.3470 1.3500-1.3470 = 30.

Then the number has to be divided into three parts 30 / 3 each one corresponding 1/3 of the candle.

30 / 3 = 10

The indicator should calculate where the candle opened and where it closed.

If open was at 1.3498 it means it opened in the first third of the candle, and if it closed @ 1.3471 it closed in the last third of the candle. The output for this combination is 1-3

If open was at 1.3485 and close was @ 1.3495, the output for the combination is 2-1

I am naming all the possible outputs

Bullish Pattern
1-1
2-1
3-1

Bearish Pattern
1-3
2-3
3-3

Indecision Pattern
2-2

It would be excellent if values are calculated in real time (not after the candle closes)

Thank you for taking time to read this, and please respond if it's possible to make such kind of indicator.

ADD: The indicator should display the values directly on chart containing data of the last 12 bars
  • #2
  • May 25, 2007 11:20am May 25, 2007 11:20am
The difference between the high and low of a candle divides into three parts each one corresponding 1/3 of the candle. The indicator calculates where the candle opened and where it closed.

Bullish Pattern
1-1
2-1
3-1

Bearish Pattern
1-3
2-3
3-3

http://codebase.mql4.com/c/codebase/...i-OneThird.gif
Attached File(s)
File Type: mq4 i-OneThird.mq4   2 KB | 381 downloads
MQL4: idea * experience + creative solution
  • #3
  • May 25, 2007 12:21pm May 25, 2007 12:21pm
Quoting RickD
The difference between the high and low of a candle divides into three parts each one corresponding 1/3 of the candle. The indicator calculates where the candle opened and where it closed.
RickD, thank you su much for this indicator. It will really help me in trading! I also hope that other will find it useful as well!
Thanks again, and may pips be with you mate
  • #4
  • May 25, 2007 12:46pm May 25, 2007 12:46pm
Thank you very much for the indicator!
But it isn't changing the colors on my chart.
Do I need to change the settings from default?


FXS
  • #5
  • May 25, 2007 12:59pm May 25, 2007 12:59pm
Seems like it works fine for me...

Maybe you are right about changing default settings...

FXSurfer, you may as well try to recompile the source.

Please let me know if it still doesn't load, I'll upload a template
  • #6
  • May 25, 2007 1:19pm May 25, 2007 1:19pm
Quoting Dexis
Seems like it works fine for me...

Maybe you are right about changing default settings...

FXSurfer, you may as well try to recompile the source.

Please let me know if it still doesn't load, I'll upload a template
Dexis,
Would you mind uploading a template.
Re-compiling didn't change anything.

Thanks!

FXS
  • #7
  • May 25, 2007 1:22pm May 25, 2007 1:22pm
Quoting FXSurfer
Dexis,
Would you mind uploading a template.
Re-compiling didn't change anything.

Thanks!

FXS
Sure, no problem mate!

Here it is
Please let me know if it works
Attached File(s)
File Type: tpl market sentiment.tpl   < 1 KB | 408 downloads
  • #8
  • May 25, 2007 1:39pm May 25, 2007 1:39pm
Quoting FXSurfer
Dexis,
Would you mind uploading a template.
Re-compiling didn't change anything.

Thanks!

FXS
Do check MetaTrader logs.
Try to change indicator colors and the width of lines.
MQL4: idea * experience + creative solution
  • #9
  • May 25, 2007 1:40pm May 25, 2007 1:40pm
Thanks for the template, Dexis.
But, maybe I'm doing something wrong.
Below is your template on the right side.


FXS
Attached Image (click to enlarge)
Click to Enlarge Name: d.jpg Size: 99 KB
  • #10
  • May 25, 2007 1:45pm May 25, 2007 1:45pm
Hmm...

Please try opening the indicators list (CTRL+I), then click on i-OneThird ant then edit, becaue just as RickD said, changing the colors and width of lines could help.

I hope this helps
  • #11
  • May 25, 2007 1:51pm May 25, 2007 1:51pm
Quoting RickD
Do check MetaTrader logs.
Try to change indicator colors and the width of lines.
I'll try playing around with the settings and let you know what I
find out. Maybe it will help others who may run into an initial
set-up problem. I may not have enough time right now.
It's off to work.

Thanks Guys!
FXS
  • #12
  • May 25, 2007 2:06pm May 25, 2007 2:06pm
Hello Guys!
Squeezing in a little more before heading out to work!
On the left is a template with white bull candles and black
bear candles. On the right I've added the indicator.
It looks correct, right? My error for not starting out with the
correct candle colors before applying the indicator!

Please,let me know if you think that the chart on the right still
isn't correct.

Thanks!

FXS
Attached Image (click to enlarge)
Click to Enlarge Name: d2.jpg Size: 101 KB
  • #13
  • May 25, 2007 2:09pm May 25, 2007 2:09pm
It is 100% correct
I'm glad everything's ok!
  • #14
  • Last Post: Dec 11, 2007 7:12pm Dec 11, 2007 7:12pm
Quoting RickD
The difference between the high and low of a candle divides into three parts each one corresponding 1/3 of the candle. The indicator calculates where the candle opened and where it closed.

Bullish Pattern
1-1
2-1
3-1

Bearish Pattern
1-3
2-3
3-3

http://codebase.mql4.com/c/codebase/...i-OneThird.gif
How do I read this indicator in a trade.When do I go short or long. I need your explainations on this please.
Regards
Arnold
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