circle indicator request | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Fib Circle Line indicator 31 replies

New kid in this circle 19 replies

Circle 7 replies

Experimental Circle Analysis of EUR/USD 39 replies

Circle Of Money We win or Lose? 6 replies

Attachments: circle indicator request
Exit Attachments

circle indicator request

  • #1
  • First Post: Jan 14, 2009 4:21pm Jan 14, 2009 4:21pm
Hi,
Recently been looking at the charts and would like to see if any one would like to create this. See attached file.
It should draw circles red down and blue up at the open price to the close price of each bar in any time frame up to 15 min.
The charts would then be represented by a series of coloured circles.
It would be impossible for me to do this by hand and would appreciate it if anyone could give it a go.
Many thanks
Slimcat
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 24 KB
  • #2
  • Jan 14, 2009 7:22pm Jan 14, 2009 7:22pm
Hello,

You could represent the candles by using graphic objects, however the overlapping green portion on your screenshot might not be. If this is what you'd want to do, you wouldn't be able to reference the indicator with icustom.
  • #3
  • Jan 14, 2009 7:31pm Jan 14, 2009 7:31pm
this is very interesting. i would like this indicator as well.
  • #4
  • Jan 22, 2009 4:53pm Jan 22, 2009 4:53pm
Quoting blacksun1
this is very interesting. i would like this indicator as well.
Just get a few different coloured marker pens and dab them onto your screen ... you will get the same effect

Sorry I couldn't resist it
  • #5
  • Jan 23, 2009 11:40am Jan 23, 2009 11:40am
This indicator might get my 4 month old daughter interested in forex.
Keep it simple stoopid....
  • #6
  • Jan 24, 2009 12:41am Jan 24, 2009 12:41am
Not sure if this is what you want. I can't get the scale to be dynamic enough to draw perfect circles all the time. so you'll have to play around with the Scale_Factor setting.

note, if NumberOfBars set to 0, it will do for all bars on chart.
if more than 0, it will only draw those number of bars counting from the current bar.

regards,
Zen
Attached Image
Attached File(s)
File Type: mq4 Circles_for_fun.mq4   3 KB | 713 downloads
Programming for a better future.
  • #7
  • Jan 24, 2009 6:10am Jan 24, 2009 6:10am
Quoting Zen_Leow
Not sure if this is what you want. I can't get the scale to be dynamic enough to draw perfect circles all the time. so you'll have to play around with the Scale_Factor setting.

note, if NumberOfBars set to 0, it will do for all bars on chart.
if more than 0, it will only draw those number of bars counting from the current bar.

regards,
Zen
And how do we trade using these ?
  • #8
  • Jan 24, 2009 6:16am Jan 24, 2009 6:16am
Quoting Willowgal
And how do we trade using these ?
I wanna know too. perhaps the threadstarter can enlighten us.

regards,
Zen
Programming for a better future.
  • #9
  • Jan 24, 2009 6:34am Jan 24, 2009 6:34am
I would say that if you see red bubbles get bigger the selling is increasing.
But that's all i can say.
  • #10
  • Jan 24, 2009 7:34am Jan 24, 2009 7:34am
Hi Zen Leow,
Thankyou so much for this , your work is much appreciated.
Regards
Jason
  • #11
  • Jan 26, 2009 10:48am Jan 26, 2009 10:48am
Quoting Willowgal
Just get a few different coloured marker pens and dab them onto your screen ... you will get the same effect

Sorry I couldn't resist it

i don't understand your English english. what does dab mean? and colored is spelled wrong FYI.


no but seriously, this is an interesting idea. it can be used for quick analysis of charts. i.e.: say you look at your chart and see a bunch of little red circles, that means that the trend was down, but went there slowly. now you see a few big red circles, the trend is still down, but it was a faster trend with fewer candles.

it can also help with reversals. there are a significant number of medium sized green circles showing a pretty standard upwards trend. now, the green circles are getting smaller and maybe there are even a few tiny red circles. this could hint at a reversal. it pretty much just speeds up the process of looking at the charts.

in reality, this isnt so much an indicator as it is another way of charting, like candlesticks, bars, point/figure etc.

and youre right, i could draw all the circles on the chart, treelady, but it would take forever, plus on the open candle i would continually have to adjust it. this just simplifies it.

btw, thanks zen
  • #12
  • Jan 26, 2009 11:37am Jan 26, 2009 11:37am
Quoting blacksun1
i don't understand your English english. what does dab mean? and colored is spelled wrong FYI.


no but seriously, this is an interesting idea. it can be used for quick analysis of charts. i.e.: say you look at your chart and see a bunch of little red circles, that means that the trend was down, but went there slowly. now you see a few big red circles, the trend is still down, but it was a faster trend with fewer candles.

it can also help with reversals. there are a significant number of medium sized green circles showing a pretty standard upwards...
LOL - Colour is spelt correctly thank you - the proper English version of the word

'Dab' means, err well 'to dab' ... don't you have Bingo where you come from ? never used a 'dabber' ? it is one of those thick ink pens you use to mark your bingo card off.. not that I ever play, I hasten to add

Seriously,

I actually think there may be something in this although at the moment the charts get a bit too colourful !

but....

If you look at this chart below I would be interested if someone could produce something to highlight situations like these (in YELLOW - where the middle bar of the 3 has a significant large area of non-retraced movement - say, at least 50% of the length of either of the candles before and after it).

These areas could prove to be S/R levels in the future .... anyone fancy knocking this up - I can't code so it's no good me trying !

Thanks

Willowgal
Attached Image (click to enlarge)
Click to Enlarge Name: balloon.gif Size: 35 KB
  • #13
  • Jan 26, 2009 12:15pm Jan 26, 2009 12:15pm
Blacksun has summed up perfectly my thoughts on why this may be of use, visually at least :


no but seriously, this is an interesting idea. it can be used for quick analysis of charts. i.e.: say you look at your chart and see a bunch of little red circles, that means that the trend was down, but went there slowly. now you see a few big red circles, the trend is still down, but it was a faster trend with fewer candles.

it can also help with reversals. there are a significant number of medium sized green circles showing a pretty standard upwards trend. now, the green circles are getting smaller and maybe there are even a few tiny red circles. this could hint at a reversal. it pretty much just speeds up the process of looking at the charts.

in reality, this isnt so much an indicator as it is another way of charting, like candlesticks, bars, point/figure etc.

Thanks Blacksun
Jason
  • #14
  • Jan 26, 2009 6:14pm Jan 26, 2009 6:14pm
another cool thin i noticed is that when i threw some bollinger bands to confirm the whole volatility/speed idea, the circles seemed to stay pretty much inside the bands. check out the yellow arrows:

http://i203.photobucket.com/albums/a...k/pic12345.jpg
  • #15
  • Last Post: Sep 11, 2013 11:02am Sep 11, 2013 11:02am
Thats really colorful!

I know its been a very long while.

Any updates on how/if you use this indicator?
0 traders viewing now