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FFcal - Plot News indicator

  • #421
  • Sep 13, 2008 6:10pm Sep 13, 2008 6:10pm
And one more suggestion just to make a complete nuisance of myself (which you can happily ignore if you like, lol)...

I never know at a glance if you have updated the doc files in Post #1, but if the names included dates or whatever was the version that goes with the docs, I would know whether to download them again without resorting to checking file sizes.

For example, they could be:
FF calendar converter - instructions vXXX.doc
Plot_News indicator - instructions vXXX.doc

If I see file FFcal131c.zip and it's clear that "XXX" is still older than "131" I would have no reason to check file sizes or download them to compare.

Or the filenames could include dates, maybe like "2008 SEP 14"... your choice... or your choice to leave it alone too.

Thanks,
Pips4life
  • #422
  • Sep 13, 2008 7:11pm Sep 13, 2008 7:11pm
Quoting pips4life
And one more suggestion just to make a complete nuisance of myself (which you can happily ignore if you like, lol)...
P4L, the doc files haven't been updated for several months. LOL. Possibly apparent from the number of times they've been viewed (the count is reset to zero each time a new file gets uploaded).

I hope to eventually replace them with links to instructional YouTube videos (when I get around to it - my usual complaint!). But if ever I do update the docs, I will embed a version number in the filename, like you suggest.

Quoting pips4life
Problem:
if (AutoRefresh == true && curr_min > prev_min) {
When the above curr_min reaches 59, that's the LAST iteration that curr_min > prev_min, because after that, prev_min is always 59... no more AutoRefresh.

Solution:
if (AutoRefresh == true && (curr_min > prev_min || curr_min == 0)) {
Well spotted, I will implement a fix.

Your fix will update every tick when curr_min == 0, I think a better fix is simply:
if (AutoRefresh == true && curr_min != prev_min) {

David
  • #423
  • Sep 13, 2008 7:29pm Sep 13, 2008 7:29pm
Quoting hanover
Well spotted, I will implement a fix.
The fixed version is now included in the ZIP download in post #1.

To the 9 people who meanwhile downloaded the faulty version, my apologies. Please download again.

David
  • #424
  • Sep 13, 2008 7:57pm Sep 13, 2008 7:57pm
Quoting hanover
... a better fix is simply:
if (AutoRefresh == true && curr_min != prev_min) {

David
Yup, didn't think of that and yours is the best answer.
  • #425
  • Sep 13, 2008 9:26pm Sep 13, 2008 9:26pm
Well David,
Thanks a lot for updating your very best indicator now.
Hope next week we can use it to trade well.
Have a nicest weekend ever...
Joko Kendil Trading For Live
  • #426
  • Sep 14, 2008 9:32am Sep 14, 2008 9:32am
Quoting hanover
The fixed version is now included in the ZIP download in post #1.

To the 9 people who meanwhile downloaded the faulty version, my apologies. Please download again.

David
Hello
I tried to download and it says : cant read file ...file corrupted...Can you post again latest zip file with included all latest files in it...and post # where is located...thank you...
The Market pays you to be disciplined
  • #427
  • Sep 14, 2008 11:37am Sep 14, 2008 11:37am
Quoting mima
Hello
I tried to download and it says : cant read file ...file corrupted...Can you post again latest zip file with included all latest files in it...and post # where is located...thank you...
Mima, this is a common problem with using IE to download this zip file (No one knows why...). I use FireFox. From Post #1:

Quote
To install Plot_News, here is what you need to do:

1. Create a new folder, then download and unzip the attached ZIP file into it.

-- Note: If your IE downloaded ZIP file is corrupted... Many users report problems using Internet Explorer to download a complete ZIP file. Please use an alternate browser such as Firefox or Opera. Google "Firefox download" (or another browser) to find a free download link.


David, this portion of Post #1 is now out-of-date with the latest release:
Quote
-- Pips4Life has developed an improved version of the Plot_News.MQ4 indicator. This is included in the "Third party products (not supported by Hanover)" folder in the ZIP file. See post #369 for more information.
  • #428
  • Sep 14, 2008 9:50pm Sep 14, 2008 9:50pm
Will help me please?
I got problem while everytime trying to set window to = 0, the error message appear on expert tab as: "2008.09.15 09:49:06 Plot_News_131c GBPUSD,M15: unknown subwindow number 1 for ObjectCreate function".
Approximately, what sort of problem I've got, may you advice me please?
Thanks,
Jodie Forex at its Best
  • #429
  • Sep 14, 2008 10:53pm Sep 14, 2008 10:53pm
Quoting jhp2025
Will help me please?
I got problem while everytime trying to set window to = 0, the error message appear on expert tab as: "2008.09.15 09:49:06 Plot_News_131c GBPUSD,M15: unknown subwindow number 1 for ObjectCreate function".
Approximately, what sort of problem I've got, may you advice me please?
Thanks,
Jodie, please see the first screenshot below. Set the Window parameter according to where you want the news events to be printed (0, 1, 2, etc).

This window must already exist, else you will get the error "unknown subwindow number for ObjectCreate function".

If you want to place the Plot_News items in an empty window, you must first create the window, by placing an indicator (e.g. MACD) there first, then change its Color to None (to hide it). Finally, change the Plot_News' Window parameter to the desired window number. The second screenshot shows the Plot_News events being printed in window #1.

If you want the Plot_News items to be printed in the main price chart, set the Window parameter = 0.

David
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jodie1.jpg Size: 180 KB
Click to Enlarge Name: joko4.gif Size: 34 KB
  • #430
  • Sep 15, 2008 8:43pm Sep 15, 2008 8:43pm
The attached XLS is a step-by-step instruction guide for getting Plot_News up and running.

I will eventually attach it to post #1 (although I think each post is limited to a maximum of 7 attachments).

Happy reading,
David
Attached File(s)
File Type: xls Plot_News - getting started instructions.xls   339 KB | 701 downloads
  • #431
  • Sep 16, 2008 6:15am Sep 16, 2008 6:15am
Quoting hanover
This window must already exist, else you will get the error "unknown subwindow number for ObjectCreate function".
David
Wow! Amazing! I did it Hanover, thanks...
Please accept my warm regards,
Jodie Forex at its Best
  • #432
  • Edited 6:26pm Sep 17, 2008 6:02pm | Edited 6:26pm
The lower window of the EURUSD,D1 chart below was constructed using an XLS that analyzed the impact of news events since 1/1/2006.

What I did was as follows:

a) Compared the Actual and Previous values of each announcement:
-- If the Actual value > Previous value, assign +1.
-- If the Actual value < Previous value, assign –1.
-- If the Actual value = Previous value, or the result can't be calculated, assign 0.

b) Next I multiplied this by an arbitrary value:
-- 1 for a Low impact announcement
-- 3 for a Medium impact announcement
-- 6 for a High impact announcement

c) Then I maintained a running total of the results from (b), for both EUR and USD announcements:
-- Positive EUR values and negative USD values (i.e. should result in a strengthening EURUSD) get added to the running total
-- Negative EUR values and positive USD values (i.e. should result in a weakening EURUSD) get subtracted from the running total

d) Then I output these to a suitably formatted CSV file and use the Plot_External_Data indicator to plot the running total on the chart (see posts #290 and #292 in this thread for info on how to use this). The dotted line is a SMA(10) used to smooth the values.


Of course the weighting factors in (b) have been arbitrarily selected:
-- I could have used different values for different announcements, e.g. assign a higher weight for events like Interest rate changes, or Non-farm payroll.
-- The value could have been further weighted by the difference between the Actual and Previous values, i.e. the greater the difference, the stronger the potential effect.
-- The weight value could have also includes any difference between Actual and Forecast values into the equation.


What do you think.......?
-- Do news-based economic trends represent a leading or a lagging indicator?
-- Would it be helpful to know that your trades have some kind of (price independent) fundamental backing?
-- Would it be worthwhile implementing something like this, to make it an automatic feature of Plot_News?

David
Attached Image (click to enlarge)
Click to Enlarge Name: nci eurusd example.jpg Size: 110 KB
  • #433
  • Edited 6:49pm Sep 17, 2008 6:25pm | Edited 6:49pm
Further to the previous post, here are some more daily charts.

David

[Edit] I just realized that, in some cases (e.g. unemployment) a falling value is better for the nation's currency. So I've got these backward in the posted charts. But these are a minority, and the charts are just to give a general concept, to solicit feedback as to whether this is a worthwhile idea. Ultimately you would be deciding upon your own weighting for the impact of each event, and entering the positive or negative value yourself.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nci usdcad example.jpg Size: 108 KB
Click to Enlarge Name: nci usdchf example.jpg Size: 109 KB
Click to Enlarge Name: nci usdjpy example.jpg Size: 106 KB
  • #434
  • Edited 6:05am Sep 19, 2008 5:53am | Edited 6:05am
Good work I see here David, and only stumbled on it about a month ago.

Two points about this composite news data :

1) I love it and think it could give great insight into the long term trend to a non funnymentalist like myself

2) It might complicate the logic a tad but I think you really need to use only the previous figures until the most recent value.

EG
-- If the April Previous value > March Previous value, assign +1.
-- If the April Previous value < March Previous value, assign –1.
etc.

This would then take into account the revisions to the 'actual' release figures. - I've noticed that the FF dont alter the 'actual' (release figure) in the database, however you do see the revised 'actual' in the following months previous column. - Hope this makes sense.


A further question / side note ... I assume you're only using GBP news events for the example above in Cable?

It might be good to see the USD news compiled and plotted as a separate line on the same chart if thats possible. And Or - produce a double composite where both GBP and USD news are 'totaled' during calclulation.

regards
  • #435
  • Sep 19, 2008 12:35pm Sep 19, 2008 12:35pm
Quoting rangebound
Good work I see here David, and only stumbled on it about a month ago.
RB, many thanks for the feedback. I was hoping to get a bigger response (still, it's early days yet), which would have motivated me to automate this idea into Plot_News. Perhaps I didn't explain the concept clearly/simply enough.
Two points about this composite news data :

1) I love it and think it could give great insight into the long term trend to a non funnymentalist like myself

2) It might complicate the logic a tad but I think you really need to use only the previous figures until the most recent value.

EG
-- If the April Previous value > March Previous value, assign +1.
-- If the April Previous value < March Previous value, assign –1.
etc.
Alas, this isn't easy, especially as FF tend to change the description of annoucements, e.g. "Interest rate" becomes "Cash rate" or "Federal funds rate", making it difficult to make the software intelligent enough to understand that April's "Cash rate" needs to be compared to March's "Interest rate". Or "Interest rate announcement" becomes "Interest rate statement", and so on.

What I would need to do is assign my own ID to each type of news event, e.g.
0001 = interest/cash/federal funds rate statement/announcement
0002 = non-farm payroll
0003 = ISM manufacturing index
0004 = trade balance
etc

and then match previous events by ID rather than description. This table would need to be maintained manually, every time FF changed an event description.
This would then take into account the revisions to the 'actual' release figures. - I've noticed that the FF dont alter the 'actual' (release figure) in the database, however you do see the revised 'actual' in the following months previous column. - Hope this makes sense.
Yes, but doesn't this mean that the plot would always be one month behind? For example, when April's Actual is released, comparing April's Previous to March's Previous is effectively comparing the March result with the February result.

What is the "Revised From" column for? I assumed that, if a revision was made, the "Previous" value was updated to reflect the change, and the prior "Previous" value became the "Revised From" value.

Currently I'm comparing the "Actual" value at the time of the announcement with the "Previous" value. Would it be better to compare the "Actual" with the "Revised From"?
A further question / side note ... I assume you're only using GBP news events for the example above in Cable?
It might be good to see the USD news compiled and plotted as a separate line on the same chart if thats possible. And Or - produce a double composite where both GBP and USD news are 'totaled' during calclulation.
The charts posted above already do this. The plot for the pair XXXYYY includes news announcements for both XXX and YYY, thus:

-- Both positive announcements (actual > previous) for XXX, and negative announcements (actual < previous) for YYY, increase the value of the indicator (i.e. by +1, +3, or +6 for low, medium, or high impact events, respectively)

-- Both negative announcements (actual < previous) for XXX, and positive announcements (actual > previous) for YYY, decrease the value of the indicator (i.e. by –1, –3, or –6 for low, medium, or high impact events, respectively)

regards
.
  • #436
  • Sep 19, 2008 2:35pm Sep 19, 2008 2:35pm
Sorry David, i'm away for the weekend so I'll post back on Monday
  • #437
  • Sep 21, 2008 12:18pm Sep 21, 2008 12:18pm
One Question To DAVID Again - and all another one`s ...

HOW CAN I IMPORT ALL HISTORICAL FF CALENDAR DATA`S ???
I Have Only The Data Since September 2008 - Even I am Starting To Us FF ...

Thanks Ahead For Answering !!!

Best regards & much better trades :

KEYSER SÖZE
  • #438
  • Sep 21, 2008 8:09pm Sep 21, 2008 8:09pm
Quoting Keyser Söze
HOW CAN I IMPORT ALL HISTORICAL FF CALENDAR DATA`S ???
I Have Only The Data Since September 2008 - Even I am Starting To Us FF ...
Keyser, please see post #367.

Note that you will have to change the news event times to align with your MT4 broker. You can re-run this process (press Esc, then Alt-F9 again), and choose the Rebuild option, to adjust the news event times back or forward any number of hours, for all events within your specified date range.

David
  • #439
  • Sep 22, 2008 2:04am Sep 22, 2008 2:04am
Hanover,

Please be advised I have sent you a PM to discuss my post above, and to provide some other info.

Regards
  • #440
  • Sep 22, 2008 11:06am Sep 22, 2008 11:06am
Quoting hanover
Keyser, please see post #367.

Note that you will have to change the news event times to align with your MT4 broker. You can re-run this process (press Esc, then Alt-F9 again), and choose the Rebuild option, to adjust the news event times back or forward any number of hours, for all events within your specified date range.

David
Thank You DAVID !!! Great Stuff ...

http://www.my-smileys.de/smileys3/10_2.gif

Best wishes & stay on focus :
Keyser Söze
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