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Watchlist in Metatrader

  • #1
  • First Post: Feb 25, 2009 10:26am Feb 25, 2009 10:26am
Hey folks,

I need some help. Has anyone of you guys ever programmed a Watchlist in Metatrader?

For Example a scanner which monitors 5 currency pairs and gives a signal when the RSI is above 70?

thanks a lot.

bye,
thomas
  • #2
  • Feb 25, 2009 5:25pm Feb 25, 2009 5:25pm
such an indicator isn't practical as far as typical indicators go cos it's code running is dependent on the chart that it's attached to. you're better off opening the 5 currency pairs and attach a rsi alert indicator of some sort on all of them.

regards,
Zen
Programming for a better future.
  • #3
  • Feb 26, 2009 3:22am Feb 26, 2009 3:22am
however, i need to program a watchlist... do i have to do it in form of an EA or Indicator?

i have a template (containing an EA or indicator i dont know?!) doing exactly what i want. but i dont have the code so i cannot modify it...

thanks for your help..
  • #4
  • Feb 26, 2009 3:32am Feb 26, 2009 3:32am
I had one built for a system I built a few years ago. was a work of art , system wasn't but watch list was. let me dig deep into my files and see if I can locate it. Then you will be able to see the coding needed for it to work and alter it how ever you want. Might not be tonight I'm watching charts but I will look for it in non trading hours
  • #5
  • Feb 26, 2009 9:59am Feb 26, 2009 9:59am
that would be great. thanks a lot
  • #6
  • Feb 26, 2009 10:03am Feb 26, 2009 10:03am
A hi-tec watchlist would be nice. Lets say we monitor 10 pairs and we forget what we shouldnt and miss the great setup. The watchlist would help to stay on track, eliminating the need of paper notes lol
  • #7
  • Feb 26, 2009 11:48am Feb 26, 2009 11:48am
Quoting Zen_Leow
such an indicator isn't practical as far as typical indicators go cos it's code running is dependent on the chart that it's attached to....

regards,
Zen

Its not dependent on the chart, I think you can grab any data for any pair at the same time, and use it in one indicator. Regards.


Quote
A hi-tec watchlist would be nice...

Then you have many times, as many decisions to make.
  • #8
  • Feb 26, 2009 1:23pm Feb 26, 2009 1:23pm
Quoting kd3726
Its not dependent on the chart, I think you can grab any data for any pair at the same time, and use it in one indicator. Regards.
here we go again... I've had a difficult time explaining this to another ff member some time ago but I'm too lazy to dig up the thread so I'll summarize below and pray everyone concerned will understand too.

yes I know we can get data from any chart and timeframe BUT... indicators and EAs are typically tick-based. meaning your indicator won't go looking at other charts if the chart that it's attached to doesn't receive a tick.

imagine you attach the indicator onto a AUDUSD chart. and it's supposed to watch 10 other currency pairs as well, let's assume GPBJPY is one of them. GPBJPY has moved 15 pips while AUDUSD was stagnant. your indicator won't refresh with any new data despite the other currency pairs have moved. the indicator will only refresh it's lines, histo, labels, etc... if and ONLY if AUDUSD receive a tick.

That's the reason why I said such an indicator isn't very practical or at least it won't work the way most people wish it would and you're better off putting the basic RSI indicator on all 10 currency pairs' chart and have them alert as and when those pairs meet criteria, and your alert window will tell you which pair is it.

Perhaps the only workaround is to change a tick-based indicator into a time-based script. just add an infinite while loop which ends with a sleep(1000) into the start() function. That way it will do whatever it needs to do (refreshing) after every 1 second interval. I've done EAs that are time-based instead of tick-based using this method. perhaps you'd like to explore making time-based indicators.

I hope I've explained this clear enough. If you have further doubts, pm me in case I don't pop by anymore.

regards,
Zen
Programming for a better future.
  • #9
  • Feb 26, 2009 3:13pm Feb 26, 2009 3:13pm
so does it make a difference if i use a timebased indicator or timebased EA?

by the way, what should i use? indicator or EA?

thanks a lot.
  • #10
  • Feb 26, 2009 5:39pm Feb 26, 2009 5:39pm
Quoting Zen_Leow
...imagine you attach the indicator onto a AUDUSD chart. and it's supposed to watch 10 other currency pairs as well, let's assume GPBJPY is one of them. GPBJPY has moved 15 pips while AUDUSD was stagnant. your indicator won't refresh with any new data despite the other currency pairs have moved. the indicator will only refresh it's lines, histo, labels, etc... if and ONLY if AUDUSD receive a tick....
While not as elegant a solution as your time based method, most multi pair indicators (Steve Hopwood's Basket Trading EA comes to mind) are attached to the most volatile pair (gbp/jpy on M1) for this very reason.

In my testing the indicator scanning multiple pairs gives near the same results as what you propose (multiple charts).

Again not as elegant or as precise as what you suggest but near enough to accurate for most.
The trend always ends.
  • #11
  • Feb 26, 2009 10:16pm Feb 26, 2009 10:16pm
Quoting tranquilizer
so does it make a difference if i use a timebased indicator or timebased EA?

by the way, what should i use? indicator or EA?

thanks a lot.
It all depends on what you need it to do. But I've only worked with scripts when I need something time-based. not sure what's the behavior is like when the concept is applied to EA or indicator.

If I were you I'd create a SCRIPT containing an infinite while loop containing a sleep(1000) [very important unless you wanna see your MT4 client hang], it'll draw label objects of the currency pairs in question along with their corresponding RSI value. Then this will be applied to a dummy chart that's blank (no bars, no candles, no nothing). You can get a blank window by loading the attached template.

regards,
Zen
Attached File(s)
File Type: tpl blank_window.tpl   < 1 KB | 496 downloads
Programming for a better future.
  • #12
  • Feb 27, 2009 10:19am Feb 27, 2009 10:19am
thank you very much Zen_Leow

you helped me a lot
  • #13
  • Feb 27, 2009 10:55am Feb 27, 2009 10:55am
one other question please..

which data is gonna be updated when i use RefreshRates()? only the data from the underlying pair?

how can i update the values from (custom) indicators (values i get with iCustom(...)) and the data from other pairs (values i get with for example iClose(...))

thanks a lot.
  • #14
  • Feb 27, 2009 11:15am Feb 27, 2009 11:15am
RefreshRates() updates the following.

Ask
Bars
Bid
Close
Digits
High
Low
Open
Point
Time
Volume

if you want to update values retrieved from other pairs, just create a variable to store it then update that variable using those iCustom or iClose functions.

regards,
Zen
Programming for a better future.
  • #15
  • Feb 27, 2009 11:23am Feb 27, 2009 11:23am
sorry but i dont get it... do you have an example?

and the values retrieved through iClose etc arent updated? because right now i am running a test and it seems as if i get the new value each time?!
  • #16
  • Feb 27, 2009 11:47am Feb 27, 2009 11:47am
Quote
I've done EAs that are time-based instead of tick-based using this method. perhaps you'd like to explore making time-based indicators.
There is merit in time based indicators because there are usually more than one on a chart, in contrast there is usually only one EA. So you would most likely want the EA running code every tick. With indicator(s) this is not always the case. Limiting the code execution of the indicator to set time intervals does work well, but you still only get execution when the tick is 'allocated'. Thanks for the offer btw. As for five charts with five rsi's, the only reason you would need to do that has got to be visual? If you can get the rsi readings from the running EA then the only reason to open charts would be to verify stuff, like zigzag patterns for example, or for historical visual reference. imo. Regards.
  • #17
  • Feb 27, 2009 11:57am Feb 27, 2009 11:57am
Quoting tranquilizer
Hey folks,

I need some help. Has anyone of you guys ever programmed a Watchlist in Metatrader?

For Example a scanner which monitors 5 currency pairs and gives a signal when the RSI is above 70?

thanks a lot.

bye,
thomas
Something like this?

http://i39.tinypic.com/2zhqhq0.gif
TRO
  • #18
  • Feb 27, 2009 12:15pm Feb 27, 2009 12:15pm
Quoting Money4Nothing
Something like this?
yes exactly... would you be willing the share it?
  • #19
  • Feb 27, 2009 12:46pm Feb 27, 2009 12:46pm
a very basic time-based watchlist using script is something like this.

place the blank_window.tpl in the templates folder, place the RSI_Watchlist.mq4 in the SCRIPT folder.

open up any chart, load the template. then attach the script to the chart. click ok after you're done with the settings.

regards,
Zen
Attached Image
Attached File(s)
File Type: tpl blank_window.tpl   < 1 KB | 566 downloads
File Type: mq4 RSI_Watchlist.mq4   6 KB | 803 downloads
Programming for a better future.
  • #20
  • Feb 27, 2009 12:58pm Feb 27, 2009 12:58pm
Quoting kd3726
There is merit in time based indicators because there are usually more than one on a chart, in contrast there is usually only one EA. So you would most likely want the EA running code every tick. With indicator(s) this is not always the case. Limiting the code execution of the indicator to set time intervals does work well, but you still only get execution when the tick is 'allocated'. Thanks for the offer btw....
Actually I didn't offer you anything... the statement that you quoted me was for the thread-starter. Anyway, to address your concerns over "but you still only get execution when the tick is 'allocated'.". In theory, (that means I've yet to try this) having a while loop in the start() function of either an EA or indicator will effectively convert it from tick based to time based. Of cos buffer handling in indicators will need some work. I think it ain't difficult at all.

I suggested attaching the rsi indicators on the separate charts of those currency pairs in question and have them throw alert is merely a quick an easy way of getting the ultimate result that the threadstarter wanted in terms of buy-sell signal alerting. cos all alerts goes straight to the alert window, and it states what is the currency pair that triggered the alert.

with all that said, I'd just like to point out again that for all the time based stuffs that I coded, they are all scripts that runs on an infinite loop. When I said I wrote a time-based EA, it's a script that runs indefinitely until the chart window is closed and it works the same way as an EA does in terms of signal identification and trade opening except it is not bound by tick allocation but merely by it's time interval.

hope that clears things up for you.

regards,
Zen
Programming for a better future.
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