Daily/Weekly Murrey Math

Quoting bandung

Disliked

Hi all...

does anyone ever try calculating murrey math level based on daily range or weekly range?
highly appreciate if anyone can share opinion or experience about it.


I make an indicator for this based on an excellent MML Indicator...

Ignored

Quoting bandung

Disliked

if what you mean is a minichart on the right side?
that is stratman mini chart.

you can find it at http://www.forexfactory.com/showthread.php?t=198729

Ignored

//+------------------------------------------------------------------+
//|                                                   ay-htf-rsi.mq4 |
//|                      Copyright © 2010, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2010, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net"

#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 100
#property indicator_buffers 2
#property indicator_color1 DodgerBlue
#property indicator_color2 Aqua
#property indicator_width1 1
#property indicator_width2 1
#property indicator_level1 50.0
//---- input parameters
extern int       RSIPer=3;
extern string    tfInfo   = "0:Curr tf, H1:60, H4:240, DAILY: 1440, WEEKLY: 10080, MONTHLY: 43200";
extern int       tf=1440;
extern int       NumBars = 200;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
  
   if (tf < Period() && tf > 0 ) return(-1);
   
//---- indicators

   
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,ExtMapBuffer1);
   SetIndexLabel(0, NULL);
   
   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,158);
   SetIndexBuffer(1,ExtMapBuffer2);
   SetIndexEmptyValue(0,0.0);
   
   IndicatorDigits(Digits-1);
   IndicatorShortName("ay-HTF RSI("+RSIPer+","+getTfName(tf)+")");
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
   int limit, i, j;
   int counted_bars=IndicatorCounted();
   //---- check for possible errors
   if(counted_bars<0) return(-1);
   //---- the last counted bar will be recounted
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
   
   limit = MathMin(NumBars, limit);
   
   for(i=limit; i>=0; i--)
   {
      ExtMapBuffer1[i] = getHtfRsi(i);  
      ExtMapBuffer2[i] = ExtMapBuffer1[i];
   }
   
   
   return(0);
 }
  
double getHtfRsi(int shift)
{
   //source url = http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:relative_strength_in
   
   double arates[];
   ArrayCopySeries(arates,MODE_CLOSE,Symbol(),tf);
   
   double change, gain[], loss[], avggain[], avgloss[], RS, RSI;
   ArrayResize(gain,100+RSIPer);
   ArrayResize(loss,100+RSIPer);  
   ArrayResize(avggain,100+RSIPer);
   ArrayResize(avgloss,100+RSIPer);  

   int shifttf        = iBarShift(NULL, tf, Time[shift]);

   
   change = Close[shift] - arates[shifttf+1];
   if (change >  0 ) {gain[0] = change; loss[0] = 0.0;    }
   if (change <  0 ) {gain[0] = 0.0;    loss[0] = -change;}
   if (change == 0 ) {gain[0] = 0.0;    loss[0] = 0.0;    }   
   
   for (int i=1; i<ArraySize(gain); i++)
   {
     change = arates[shifttf+i] -  arates[shifttf+i+1];
     
     if (change >  0 ) {gain[i] = change; loss[i]=0.0;      }
     if (change <  0 ) {gain[i] = 0.0;    loss[i] = -change;}
     if (change == 0 ) {gain[i] = 0.0;    loss[i] = 0.0;    }
   } 
   
   //first avggain n avgloss
   int cnt = ArraySize(gain) - RSIPer - 1; // array #99
   double tmpg, tmpl;
   for (i=cnt; i<(cnt+RSIPer); i++)
   {
      tmpg += gain[i];
      tmpl += loss[i];   
   }
   //next avggain n avgloss using =((F5*2)+D6)/3
   avggain[cnt] = tmpg/RSIPer;
   avgloss[cnt] = tmpl/RSIPer;
   
   for (i=cnt-1; i>=0; i--)
   {
      avggain[i] = ( (avggain[i+1]*(RSIPer-1)) + gain[i] ) / RSIPer;
      avgloss[i] = ( (avgloss[i+1]*(RSIPer-1)) + loss[i] ) / RSIPer;
   }
            
   RS = avggain[0]/avgloss[0];
   if (avgloss[0]==0.0) RSI = 100.0;
   else RSI = 100 - (100/(1+RS));
   
   return(RSI);
   
   
}

string getTfName(int tf)
{
  string n;
  if (tf==0) tf=Period();
  
  switch (tf)
  {
    case PERIOD_MN1:  
      n= "MN1"; break;
    case PERIOD_W1:   
      n= "W1";  break;
    case PERIOD_D1:   
      n= "D1";  break;
    case PERIOD_H4:   
      n= "H4";  break;
    case PERIOD_H1:   
      n= "H1";  break;
    case PERIOD_M30:  
      n= "M30"; break;
    case PERIOD_M15:   
      n= "M15";  break;
    case PERIOD_M5:   
      n= "M5";  break;
    case PERIOD_M1:   
      n= "M1";  break;   
  }
  
  return(n);
}
//+------------------------------------------------------------------+

Quote

Disliked

the indicator which can draw the 50 pips price range movement with entered number of candles.

like if we enter Number of candles to look=4 candles , Range= 50 pips, indicator mark the every 4 candles if price range is 50 pips.