Hi David,
Great stuff on the plotting of news effects over time. It looks like there are clues to impending changes especially when there is (regular) divergence. When the price trend is down but the news index halts at a low or begins to rise, then perhaps a price reversal will happen soon? The USDCAD looks ripe from this perspective.
Sometimes I notice that when the Actual number is, for example, lower than the Forecast, but at the same time, the Revised is higher than the previous, the two tend to offset each other in terns of news impact. However, when both are in the same bad (or both good) direction, the news impact is even stronger.
I don't know if it's worth adding a weighting factor for such things or not. It might even be valuable to compare absolute differences, or maybe relative percentage values instead of simply ">" or "<".
Anyway, I just saw your post only today and thought I'd comment...
Another reason I visited the thread was to alert you to some time-call functions that might be of use. I have found an indicator (v1_3) and a very similar script (v1_4) that use DLL calls to retrieve GMT and local times, and timezone information. (The scripts are OK, but display is a little quirkly when minutes or seconds are single digits as there is no leading "0" prepended. Also, "Bar" time is minutes and I don't like it near as much as "CandleTime.mq4" which displays time remaining for a bar, in seconds. Attached for the heck of it, in case someone asks).
As a programmer, maybe some code snippets may be of use to you.
Looking forward to the new plotting-of-news-impact feature should you decide to do it.
Pips4life
Great stuff on the plotting of news effects over time. It looks like there are clues to impending changes especially when there is (regular) divergence. When the price trend is down but the news index halts at a low or begins to rise, then perhaps a price reversal will happen soon? The USDCAD looks ripe from this perspective.
Sometimes I notice that when the Actual number is, for example, lower than the Forecast, but at the same time, the Revised is higher than the previous, the two tend to offset each other in terns of news impact. However, when both are in the same bad (or both good) direction, the news impact is even stronger.
I don't know if it's worth adding a weighting factor for such things or not. It might even be valuable to compare absolute differences, or maybe relative percentage values instead of simply ">" or "<".
Anyway, I just saw your post only today and thought I'd comment...
Another reason I visited the thread was to alert you to some time-call functions that might be of use. I have found an indicator (v1_3) and a very similar script (v1_4) that use DLL calls to retrieve GMT and local times, and timezone information. (The scripts are OK, but display is a little quirkly when minutes or seconds are single digits as there is no leading "0" prepended. Also, "Bar" time is minutes and I don't like it near as much as "CandleTime.mq4" which displays time remaining for a bar, in seconds. Attached for the heck of it, in case someone asks).
As a programmer, maybe some code snippets may be of use to you.
Looking forward to the new plotting-of-news-impact feature should you decide to do it.
Pips4life
Inserted Code
...
#import "kernel32.dll"
void GetLocalTime(int& TimeArray[]);
void GetSystemTime(int& TimeArray[]);
int GetTimeZoneInformation(int& TZInfoArray[]);
#import
...
int LondonTZ = 0;
int TokyoTZ = 9;
int NewYorkTZ = -5;
...
start()
...
int TimeArray[4];
int TZInfoArray[43];
int nYear,nMonth,nDay,nHour,nMin,nSec,nMilliSec;
string sMilliSec;
GetLocalTime(TimeArray);
//---- parse date and time from array
nYear=TimeArray[0]&0x0000FFFF;
nMonth=TimeArray[0]>>16;
nDay=TimeArray[1]>>16;
nHour=TimeArray[2]&0x0000FFFF;
nMin=TimeArray[2]>>16;
nSec=TimeArray[3]&0x0000FFFF;
nMilliSec=TimeArray[3]>>16;
string LocalTimeS = FormatDateTime(nYear,nMonth,nDay,nHour,nMin,nSec);
datetime localTime = StrToTime( LocalTimeS );
int gmt_shift=0;
int dst=GetTimeZoneInformation(TZInfoArray);
if(dst!=0) gmt_shift=TZInfoArray[0];
//Print("Difference between your local time and GMT is: ",gmt_shift," minutes");
if(dst==2) gmt_shift+=TZInfoArray[42];
datetime brokerTime = CurTime();
datetime GMT = localTime + gmt_shift * 60;
datetime london = GMT + (LondonTZ + (dst - 1)) * 3600;
datetime tokyo = GMT + (TokyoTZ) * 3600;
datetime newyork = GMT + (NewYorkTZ + (dst - 1)) * 3600;
//Print( brokerTime, " ", GMT, " ", local, " ", london, " ", tokyo, " ", newyork );
string GMTs = TimeToString( GMT );
string locals = TimeToString( localTime );
string londons = TimeToString( london );
string tokyos = TimeToString( tokyo );
string newyorks = TimeToString( newyork );
string brokers = TimeToString( CurTime() );
string bars = TimeToStr( CurTime() - Time[0], TIME_MINUTES );
... Attached Image
Attached File(s)
Great Stuff pips4life !!!
