Trendline indicator (NOT Demark or fractal) | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Non-deleting Fractal to Fractal Trendlines mq4 3 replies

Demark Trendline indicator with breakout qualifier 5 replies

Fractal alerts based on when fractal is confirmed 0 replies

Trendline, Trendline and Trendline 4 replies

Fractal based trendline indicator, horizontal fractal S/R indicator 6 replies

Trendline indicator (NOT Demark or fractal)

  • #1
  • First Post: Apr 1, 2009 1:17pm Apr 1, 2009 1:17pm
Hi All,

I am looking for a trendline indicator that does the following:

1. Plots a simple trendline ray from highest price of last month to highest price of last week.

2. Plots a simple trendline ray from the lowest price of last month to lowest price of last week.

3. Indicator must be able plot these lines on M5, M15, M30 and H1 charts, so the lines must be in the exact positions of the highs and lows to be useful to me.

I actually need it to plot from last week High & Low to yesterday High & Low and then yesterday High & Low to last 4hrs High and Low also, but if someone can start me off, I am an acceptable 'cut and paster'.

I do not want this indicator to be based on any mathematical formulas like Demark or fractals or Murray. Just purely based on price and date/time.

I am currently drawing these manually, but I find it a little time consuming and I sometimes forget to replace the lines as I did today for the 1st of the month.

Thanks in advance,

Lim
  • #2
  • Apr 21, 2009 8:56pm Apr 21, 2009 8:56pm
Purely in the realms of hypothesis, if one were to have unlimited funds at their disposal, how large a position would someone need to move a currency pair one pip in any given direction at any time?

Given that there are lower volumes during the Asian session, is it fair to say that this would be easier to do during this time?
  • #3
  • Apr 21, 2009 9:11pm Apr 21, 2009 9:11pm
Its impossible to answer.

It all depends on the liquidity at the current price, could take 2 standard lots If that was more than was available at the current price.

EDIT: Yes, you are more likely to be able to move the market during asian session.
Living the adventure in my head.
  • #4
  • Apr 21, 2009 9:32pm Apr 21, 2009 9:32pm
Or is the market just too large?
  • #5
  • Apr 21, 2009 9:33pm Apr 21, 2009 9:33pm
Sorry... its obviously my bedtime... I'm just rambling now...
  • #6
  • Apr 27, 2009 5:46pm Apr 27, 2009 5:46pm
not too large at all. like leon said, its all about liquidity. for example, if people are only trading 20 lots either way on GBPSEK at 8pm EST, and you drop 30 lots, you will move the market. now, pretend you want to drop 30 lots of EURUSD at 11am EST and people are trading 1,000 lots either way. you probably wont move the market. so it depends on if you are willing to put up a significant percentage of the current market volume or not. you will move the market if you do, but there is always the chance that the market will move against you, and because of your large trade size, you wouldnt be able to get out because of the fact that there isn't anyone else willing to put up that much money. so when it comes down to it, it's like every other strategy or idea out there: you have to be willing to risk quite a bit and hope that the trade will go your way. but you will move the market.
  • #7
  • Edited 6:37pm Apr 27, 2009 6:22pm | Edited 6:37pm
I think that pips can also move up down for the order flow, ie the request for buy or sell entered into the market.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #8
  • Apr 27, 2009 6:41pm Apr 27, 2009 6:41pm
Quoting LuboLabo
I think that pips can also move up down for the order flow, ie the request for buy or sell entered into the market.

Lubo.
Trades have to be made for price to change, 100% sure on that one.
Living the adventure in my head.
  • #9
  • Apr 27, 2009 9:22pm Apr 27, 2009 9:22pm
if everyone decides to take their offers out, the market will move through the roof...
  • #10
  • Edited 10:17pm Apr 27, 2009 9:30pm | Edited 10:17pm
Quoting qweabc
if everyone decides to take their offers out, the market will move through the roof...
Only because Bids cant be filled there and someone agree's to sell at a higher price(and a trade is made). Someone please explain how my logic is wrong if so.

EDIT: For price to move through the roof the market would have to be much thinner on the offer than the bid(and trades take place) all the way up to wherever the sky ends. It may be possible for the scenario you describe to happen In other markets, but in the forex the two currencies still exist Even If nobody wants to exchange them, no want or need to exchange doesnt change their value.
Living the adventure in my head.
  • #11
  • Apr 28, 2009 2:06am Apr 28, 2009 2:06am
Quoting Leonlorenzo
Only because Bids cant be filled there and someone agree's to sell at a higher price(and a trade is made). Someone please explain how my logic is wrong if so.

EDIT: For price to move through the roof the market would have to be much thinner on the offer than the bid(and trades take place) all the way up to wherever the sky ends. It may be possible for the scenario you describe to happen In other markets, but in the forex the two currencies still exist Even If nobody wants to exchange them, no want or need to exchange doesnt change their value....
I think you have misunderstood, maybe give a look to market depht and time and sale, can clarify you how it work.
I know that we can't have access to market depht on forex, but it happens equally thru interdealer and interbank excange.
You could watch at high volatily future, like s&p 500, or euro future, to understand how work the order flow.

Lubo.

P.s. Some ECN, like MBT, have a sort of market depht on forex.
If I know how, I tell You!! Few but Good!!
  • #12
  • Apr 28, 2009 10:01am Apr 28, 2009 10:01am
Quoting Leonlorenzo
Only because Bids cant be filled there and someone agree's to sell at a higher price(and a trade is made). Someone please explain how my logic is wrong if so.

EDIT: For price to move through the roof the market would have to be much thinner on the offer than the bid(and trades take place) all the way up to wherever the sky ends. It may be possible for the scenario you describe to happen In other markets, but in the forex the two currencies still exist Even If nobody wants to exchange them, no want or need to exchange doesnt change their value....
I thought this would be a question that people would jump at, Unlike alot of things In the forum this is an oportunity to be definitively correct by shairing a Fact, as aposed to an opinion.
Living the adventure in my head.
  • #13
  • Apr 28, 2009 10:16am Apr 28, 2009 10:16am
Quoting Leonlorenzo
Only because Bids cant be filled there and someone agree's to sell at a higher price(and a trade is made). Someone please explain how my logic is wrong if so.

EDIT: For price to move through the roof the market would have to be much thinner on the offer than the bid(and trades take place) all the way up to wherever the sky ends. It may be possible for the scenario you describe to happen In other markets, but in the forex the two currencies still exist Even If nobody wants to exchange them, no want or need to exchange doesnt change their value....

your logic isnt wrong. it's absolutely correct.

as for the edit, exactly. a currency pair wont go to zero. for example say eurusd was at 0.0001 and moved down a pip. it wouldnt go to 0.0000, it would go to 0.00008 or something. because pairs are relative, the actual pair itself cant go to zero. currency pairs are based on value, eurusd is how much people value one euro in us dollars. so value will almost always exist, even if it is extremely small, unless a country is wiped off the face of the planet. in that case, the pair just wouldnt be traded anymore. instead of being at zero, it just wouldnt exist.
  • #14
  • Apr 28, 2009 10:25am Apr 28, 2009 10:25am
Quoting LuboLabo
I think that pips can also move up down for the order flow, ie the request for buy or sell entered into the market.

Lubo.

that is partially correct. on a retail scale, it can't, but on a hedge fund/institutional scale, it can. when you trade large amounts of money through a big bank (somewhere on the scale of 3million or greater), something called the ladder system comes into effect. what this is is just a simple set of prices for different amounts of money available in the market. for example, say you want to make a trade for ten million long. what the ladder will show is this:

1.3256 3,000,000
1.3255 2,500,000
1.3252 1,500,000
1.3250 1,000,000
1.3248 700,000
1.3245 500,000
1.3244 500,000
1.3242 300,000
1.3240 300,000

these are the different prices with their respective volumes available at these prices. what this means is that if you put in your order for 10mil, 3mil would fill at 1.3256, 2.5mil would fill at 1.3255, 1.5mil would fill at 1.3252, and so on and so on until your entire order is filled. now notice this: you would be moving the market against you at first. the highest price would fill, then the next lower price, then the next lower. this would show up as either one large down tickl or a series of small downticks. so you would move the amrket, just in an opposite direction.
  • #15
  • Apr 28, 2009 11:17am Apr 28, 2009 11:17am
Sorry,
I did not speak of how many lots are required to move the market. I just wanted to make an addition, namely that the market moves between demand and supply, and these two must come together to make a valid transaction. This happens always, even though almost instantly when the market is very liquid.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #16
  • Jul 17, 2009 1:25pm Jul 17, 2009 1:25pm
Take a look at babypips.com and try reading the newbie threads here at FF. They will give you some decent ground information.
  • #17
  • Jul 18, 2009 8:22am Jul 18, 2009 8:22am
I use support resistance and candlestick pattern for scalping. and it s works good for me

-------------

fibonacci tricks
  • #18
  • Jul 19, 2009 12:36am Jul 19, 2009 12:36am
There are Fibo & Pivot line indicators somewhere in this forum which will show you a real time Sup/Res lines (updated when new bar created), you can use this lines to set TP/SL

And btw you may want to check the Awesome (AO/AC) indicators also
  • #19
  • Jul 28, 2009 3:51am Jul 28, 2009 3:51am
I would send you info on the best 1m scalping system I found but your pm is locked down...and so is your email.
  • #20
  • Jul 28, 2009 7:58am Jul 28, 2009 7:58am
Quoting TraderColin
I would send you info on the best 1m scalping system I found but your pm is locked down...and so is your email.
Why don't you post in this thread about it, so we all can know it also?
0 traders viewing now