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  • #421
  • Edited 5:50pm Feb 17, 2006 5:31pm | Edited 5:50pm
Quoting pinoytrader
To all,

here's a copy of the worksheet from Rex, I made some changes on the formula. i.e., corrected the range of cells for the calculation of the medians on the GBP sheet. Row inserted on the Data sheet for the current day will always be included in the calculations. Hope this helps.
I like the work that you and Rex have done on the worksheet.

By the way could you tell me what was the error on the range of cells for the calculation of the medians. I hope it was not a conceptual error on my part.

I am having some problems with getting the current price to upload on its own.

When I first open the file I get a couple of messages.

I first get a message saying "Remote data not accessible. Start application MT4.exe?"

I then click yes, and I get a second message:

"Cannot run MT4.exe The program or one of its components is damaged or missing"

However, MT4 is working fine.

Do you have a suggestion of how to get this to work?

Is it possible to have the current high and low of the day updated on its own in order to get range calculations?

As I said before, I like what you guys did to my spreadsheet.

Regards,
  • #422
  • Feb 17, 2006 5:37pm Feb 17, 2006 5:37pm
Quoting vegas
Everyone,
Today was like the old days. Unusual intraday volatility today, especially in the euro. Anybody else notice the 10,000 - 20,000 contract offers on globex when the euro tanked. Somebody on the e-platforms sold about 3.5 bln euros [nice trade].

If you're wondering why we didn't get long cable, there are 2 reasons. 1) Most importantly the market has strayed from the 3rd fib line to the 2nd fib line and nothing has happened in the last 5 days thus significantly lowering our risk/reward, and 2) the range put in before the 50% retracement today was very small [69 pips] with not so great momentum from the lows.

Add to this a 3-day weekend with position squaring and you get a choppy to slightly higher market. Not the kind of scenario we want to be long 20 contracts in with not much of a lead.
Vegas,

If you don't start a trade, do you continue to wait for one to develop?

If you miss getting the bottom while doing this, do you wait until it goes to the top again and try over?

If you do decide to open a position, for instance, in GBP, do you place a large s/l at the time of placing the order? By large stop loss I mean 100 to 150 pips to allow the market to dance.

Best regards,
  • #423
  • Feb 17, 2006 7:53pm Feb 17, 2006 7:53pm
Quoting 5MinuteStudent
Vegas,

If you don't start a trade, do you continue to wait for one to develop?

If you miss getting the bottom while doing this, do you wait until it goes to the top again and try over?

If you do decide to open a position, for instance, in GBP, do you place a large s/l at the time of placing the order? By large stop loss I mean 100 to 150 pips to allow the market to dance.

Best regards,
Good question. That would make it very limited on when to trade based on this model.
  • #424
  • Feb 17, 2006 7:53pm Feb 17, 2006 7:53pm
Quoting ashoksagar
In Metatrader4 go to tools > options and Enable DDE Server.

Put the following formula in cell I3 :

=MT4|BID!GBPUSD

That should enable automatically updating of the current price in the spreadsheet.
Does this mean you can acually log realtime data into spreadsheets like Excel!?!?

I can do ALOT of damage with that LOL.
  • #425
  • Feb 17, 2006 8:51pm Feb 17, 2006 8:51pm
Quoting xspowerx
Does this mean you can acually log realtime data into spreadsheets like Excel!?!?

I can do ALOT of damage with that LOL.
If it can log real time data, can it capture bid to ask? I just wanted to add that for a 2nd part to the question.
  • #426
  • Feb 17, 2006 10:44pm Feb 17, 2006 10:44pm
Quoting pip_hunter
If it can log real time data, can it capture bid to ask? I just wanted to add that for a 2nd part to the question.
A DDE server feed is real time, it is not new has been around for awhile.
You will have to enable it first in the options in mt4 as explained in the prior post. mt4 should be up and running as you view the spreadsheet.

Some companies will use this feature to put up say a bar chart or a pie chart in excell and set up a dde conection to a database that the cash registers feed into, therefore they can watch how much of an item is being sold in real time for example beer during the super bowl games we have here in the USA or Gas so that they know when to order more.

A person should also be able get other fields in real time, like the ask, date, open close etc, I just dont know mt4 well enough yet. Programing is not required for this. just need to plug in the formulas like this =MT4|BID!GBPUSDm or =MT4|ASK!GBPUSDm into the spreadsheet cols where you want the values to appear.

I am spending all my time trying to trade the right way VWB method. I do program in several languages, eventually I will start to program in MT4 but that is a future project, got to see how I do trading first.
  • #427
  • Feb 17, 2006 11:10pm Feb 17, 2006 11:10pm
Quoting pip_hunter
If it can log real time data, can it capture bid to ask? I just wanted to add that for a 2nd part to the question.
Just found this in mt4.


Service — Export of Quotes

[img]i/previous.gif[/img] [img]i/next.gif[/img]
[img]i/tmenu/lb.gif[/img]
[img]i/tmenu/rb.gif[/img] Export of Quotes

Source data serving as a basis for the entire analytical work of the terminal user are those about security price changes. This information is provided by the brokerage company. Price data allow to draw symbol charts, research in financial markets, use various trading tactics, and make trade decisions. Quotes represent files with records in format of "SYMBOL, BID, ASK, DATE" (security symbol, bid price, ask price, date and time) and income in the terminal automatically as soon as connection to the server has been established.

The terminal allows to export the current quotes to other programs in the real-time mode through "DDE" (Dynamic Data Exchange) protocol. This is a protocol of operational systems of MS Windows used for dynamic data exchange among various applications. Quotes are given through DDE only at incoming of new ticks (ADVISE mode), but not immediately on request (REQUEST mode) where the latest price is shown. N/A is shown on the first REQUEST, and after the new price has been income, quotes will appear.

To activate the export of quotes from the terminal through DDE, one has to enable the "Enable DDE server" option in the terminal settings.


Attention: History Data cannot be exported through DDE protocol. The current quotes are exported only when the client terminal is online.
DDE request formats and their possible results by the example of "DDE-sample.xls" file:

BID request: = MT4|BID!USDCHF result: 1.5773
ASK request: = MT4|ASK!USDCHF result: 1.5778
HIGH request: = MT4|HIGH!USDCHF result: 1.5801
LOW request: = MT4|LOW!USDCHF result: 1.5741
TIME request: = MT4|TIME!USDCHF result: 21.05.02 9:52
QUOTE request: = MT4|QUOTE!USDCHF result: 21.05.02 9:52 1.5773 1.5778 1.5776

Attention: For data to be shown properly in MS Excel, one has to enable "Tools — Options... — Translation — Translation formula entry" menu option of MS Excel.
  • #428
  • Feb 18, 2006 1:55am Feb 18, 2006 1:55am
I found out a pretty interesting fact about daily range of GBP from 5mintuestudent's file as follow:
In the past 110 trading day,
1,there were 16% of trading daily range over 200 pips;
2,................21% ...................................above 150 pips below 200 pips
3,................42%...................................above 100 pips below 150 pips
4,................19%...................................above 50 pips below 100 pips
5,.................2%.....................................below 50 pips.

anybody have comment on that ?

Rex.
Chinese Forex Trader from China
  • #429
  • Feb 18, 2006 3:00am Feb 18, 2006 3:00am
Hi, All

I found out my last post file has some errors , right now I corrected it and upload the new version. I also use MT4 as current price input, as fas as the current day open, high, low, you still need input by yourself, it's hard to use MT4 as input source for these 3 data type.Before open the file, you have to enable DDE server and keep MT4 windows open.

Work with the file daily routine:
1,Open the file
2, Go to Data sheet, insert new row UNDER row 5 ( select whole row 6 ,and insert new row)
3, select row 5 then copy to row 6( the new blank row), correct the row6 date
3, input current day open, high , close on row 5
4, Go to GBP sheet, input current open, interested buy or sell

Done!

I also post the flash video on how to input new data into the file, file name: vegas.zip.(to view the video ,just open vegas.htm file ) .
the following is new version excel file.

thanks

Rex.
Attached File(s)
File Type: zip vegas.zip   501 KB | 585 downloads
File Type: zip VWB II-rev1.zip   23 KB | 385 downloads
Chinese Forex Trader from China
  • #430
  • Feb 18, 2006 3:26am Feb 18, 2006 3:26am
5MinuteStudent,

First thank you for sharing your work. It was great indeed. I found the error on Rex's worksheet which I think he has already corrected on his latest post.
Regarding the current price, you can find the answer on lambrechtj's post today and on the DDE sample.xls file that came with MT4.

Regards
  • #431
  • Feb 18, 2006 4:16pm Feb 18, 2006 4:16pm
lambrechtj,

Thank you for the detailed post on getting information out of MT4.

Is it possible to obtain the open as well?

Regards,
  • #432
  • Feb 18, 2006 4:18pm Feb 18, 2006 4:18pm
pinoytrader,

Thank you for the changes and thank you for your solution for entering data in a spreadsheet.

It should save me a huge amount of time in entering data. Not to mention it will be a lot more accurate.

Regards,
  • #433
  • Feb 18, 2006 4:20pm Feb 18, 2006 4:20pm
Rex,

Great work!

I appreciate your changes and improvements to the spreadsheet. I hope this will help many others.

I am working on some additional changes which I hope will be ready soon.

Regards,
  • #434
  • Feb 18, 2006 4:35pm Feb 18, 2006 4:35pm
Quoting rex
I found out a pretty interesting fact about daily range of GBP from 5mintuestudent's file as follow:
In the past 110 trading day,
1,there were 16% of trading daily range over 200 pips;
2,................21% ...................................above 150 pips below 200 pips
3,................42%...................................above 100 pips below 150 pips
4,................19%...................................above 50 pips below 100 pips
5,.................2%.....................................below 50 pips.

anybody have comment on that ?

Rex.
Rex,

Interesting insight you had!

If you add some of these into groups it will give you an interesting perspective. For instance, 2 + 19 = 21, 21% had less than 100 pips. 63% had between 101 and 150 pips. 37% had more than 151 pips. 79% (about 80% after rounding) had more than 101 pips. 20% (after rounding) had less than 100 pips.

I know it adds to more than 100%, but my point was about grouping to see if leaving the very small detail gave you a different perspective on the same data.

From the above, the more important for me would be that 80% of the days (sample is too small for my taste for this kind of generalization) the range is greater than 101 pips, and 20% of the days had less than 100 pips.

Another possibility for further study would to match the smaller and largest ranges and to see if they fit near the extremes of the Daily Vegas charts. I will try to look into this later.

Regards,
  • #435
  • Feb 18, 2006 5:16pm Feb 18, 2006 5:16pm
Quoting pip_hunter
I have this pdf that is worth looking at as well. I don't remember where I got it from but it talks about %'s of price action.
pip_hunter,

I have also seen this before, and I would like to include the following:

I think there is a difference with the way they use it and the way that Vegas uses similar information, and I hope someone will read it to agree or disagree with my view.

At the top of each page they say something like "When prices move xx amount of pips in either direction, then...."

I think what they are saying is that if the size of the range is so many pips, then what is the probability that the size of the range will continue to increase to y amount of pips.

Vegas uses the amount of pips from the open to determine direction, and I think this is something they did not to do in the study (please correct me if I am wrong here). They used the data to determine only the size of the range.

On the other hand, as you noticed this is similar to what Rex had found before. For instance, when prices move 25 pips on either direction, then there is about an 80% probability on the daily chart of GBP/USD that it will continue to 70 pips according to the pdf study.

If I recall correctly from the sample we had in the data, the data appeared to suggest that there is about an 80% probability that the prices will move by 101 pips or more.

It could be that the difference between their results and ours is that our sample is too small. I believe they went back to 2000 for daily data. Whereas we only have data for a few months.

In the final analysis the results are pretty close. They conclude that a move of 95 pips (25 + 70) has an 80% probability. Our data appeared to suggest that 80% of the days on the data sample were of 101 pips or more. The difference is too small 101 - 95 = 6 pips to split hairs.

The one thing that is throwing me off in interpreting their data is their use of the "(+45 net)." It could very well be that I am misreading their tables, and I am making a mistake in interpreting their tables. This is why I started by asking for opinions on agreement or disagreement with my view.

In any case, I for one am glad you shared this study. I think it becomes even more relevant within the current context.

Regards,
  • #436
  • Feb 18, 2006 5:22pm Feb 18, 2006 5:22pm
Quoting lambrechtj
Attention: For data to be shown properly in MS Excel, one has to enable "Tools — Options... — Translation — Translation formula entry" menu option of MS Excel.
lambrechtj,

I could not find the translation tab, but I found something called Transition. Is this perhaps the one you meant?

Regards,
  • #437
  • Feb 18, 2006 5:30pm Feb 18, 2006 5:30pm
Quoting 5MinuteStudent
Rex,

Interesting insight you had!

If you add some of these into groups it will give you an interesting perspective. For instance, 2 + 19 = 21, 21% had less than 100 pips. 63% had between 101 and 150 pips. 37% had more than 151 pips. 79% (about 80% after rounding) had more than 101 pips. 20% (after rounding) had less than 100 pips.

I know it adds to more than 100%, but my point was about grouping to see if leaving the very small detail gave you a different perspective on the same data.

From the above, the more important for me would be that 80% of the days (sample is too small for my taste for this kind of generalization) the range is greater than 101 pips, and 20% of the days had less than 100 pips.

Another possibility for further study would to match the smaller and largest ranges and to see if they fit near the extremes of the Daily Vegas charts. I will try to look into this later.

Regards,
Nice catch 5MS.
Is it just me, or do those numbers look like they warrant further investigation?
Allowing for marginal error 21, 37, 63 are pretty close to 23.6% 38.2% and 61.8%

Using that Fibonacci ratio
23.6% of the time the Daily Range will fall in the Lower bracket.
38.2% of the time the Daily Range will fall in the Upper bracket.
and
61.8% of the time the Daily Range will fall in the Middle bracket.

I know, I know... for a total of 123.6%. But Still ~62% hit rate in Middle Range.

For VT users. A couple of weeks ago, I built an indicator based on Vegas' Opening Range theory and posted it @ VT forums. "Daily Open Range Fibs" DORF. you may want to check it out.
  • #438
  • Feb 18, 2006 9:05pm Feb 18, 2006 9:05pm
Hi all,

First, I vote that Webster's Dictionary defines the phrase,
"He be da man!" with a picture of Vegas

I am used to trading the fib retracement method with limited success. However, I do not see how the 50% fib value that is so often mentioned is calculated. Is it from the current day's daily candle? I wonder about this because the candle is not completely developed until the next day's candle begins. I read every post on this thread and both Word documents looking for the answer to this. Please post what time and time frame candle is used to pull the fib range to get the 50% value.

My second question is about the time frame for opening a position. I live in Michigan (EST). If the trading day for the GBP/USD starts at 5 PM EST what time does it end? Maybe a better way to ask this is what is the best time to trade this pair?

Thank you,
MrMajik
  • #439
  • Feb 18, 2006 10:14pm Feb 18, 2006 10:14pm
Quoting rjb1024
gbpusd h1 chart
RJB1024,

I really like the look of your chart and the daily range, ATR, etc... comments.
Can you please share this indicator or EA or point me in the right direction?

Thanks in advance,

TimeFreedom
  • #440
  • Feb 18, 2006 10:14pm Feb 18, 2006 10:14pm
Quoting 5MinuteStudent
lambrechtj,

I could not find the translation tab, but I found something called Transition. Is this perhaps the one you meant?

Regards,
Not to worry, your a clever 5 min student, I saw this my self, must be a typo on mt4's part. It says if the numbers are not displaying correctly in the cols then do as described in the explaination you describe. I am guessing everything displays correctly like mine so you can ignore this, If not then I have the seen word transistion instead of translation like you have, I think it is just a typo from the softare writer or documentator. Software writers are notorious bad spellers because they make a lot of code in short hand, Bday for Birthday, LstName for last name FstName for First Name etc. I myself is one of the bad ass spellers from coding for so long and making stuff up. I think it is fine. But if you don't understand something I write just ask me to repeat it, I will review what I wrote and re-Phrase it, hopefully making it more clear, I do undertand there are multi nationals on this forum, my best friend at work is chinese speaks a lot of broken english, It helps me to understand when I read broken english as I start to think how he talks to me on a daily basis. He is a good guy speaks Mandarian chinese, also have a lady that speaks Norwegion now that is a hard one for me, as it is very broken.
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