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Pip Count Indicator?

  • #1
  • First Post: Dec 31, 2012 3:12am Dec 31, 2012 3:12am
Oftentimes big intraday moves begin with a big initial impulse, say 10 pips in 5 minutes. I have yet to see an indicator designed to take advantage of this phenomenon. All it would take is two external variables, and according to this non-coder would probably be easy to code. The variables would be something like Sample Period and No. Pips, and the alert would sound, preferably, as soon as the condition was met regardless of retracement.

My forex income does not permit soliciting for coding of indicators but figure the idea might be worth something.

B.
  • #2
  • Dec 31, 2012 5:22am Dec 31, 2012 5:22am
Quoting brucewhain
Oftentimes big intraday moves begin with a big initial impulse, say 10 pips in 5 minutes. I have yet to see an indicator designed to take advantage of this phenomenon. All it would take is two external variables, and according to this non-coder would probably be easy to code. The variables would be something like Sample Period and No. Pips, and the alert would sound, preferably, as soon as the condition was met regardless of retracement.

My forex income does not permit soliciting for coding of indicators but figure the idea might be worth something....
I'm currently working on something like this, my initial Indicator tracked move in price during a specified time period, for example 5 seconds, and if the move was greater than a configurable size a chart grab was taken, it's not as simple as first thought, code only runs in response to an incoming tick, if there are no ticks for a few seconds this has to be handled in the calculations.

So if we are looking for a 5 seconds sample window and there are no ticks for 17 seconds we have 3 periods of 0 . . . in itself it's not difficult to handle once you get your head around it.
20 pips a day isn't too much to ask . . .
  • #3
  • Dec 31, 2012 11:07am Dec 31, 2012 11:07am
Sounds good. What's a chart grab?
  • #4
  • Dec 31, 2012 11:14am Dec 31, 2012 11:14am
Quoting brucewhain
Sounds good. What's a chart grab?
It's this . . .
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-M1-2012-11-22-024.jpg Size: 90 KB
20 pips a day isn't too much to ask . . .
  • #5
  • Dec 31, 2012 11:27am Dec 31, 2012 11:27am
yes it's easy. just find someone who has given-away a donchian indicator and kindly ask them to add an alert option.
Congratulations ScalaFX for coming out of the closet!
  • #6
  • Edited 7:09am Jan 1, 2013 7:05am | Edited 7:09am
Quoting nubcake
just find someone who has given-away a donchian indicator...
Must be I'm having troubles expressing myself again nubcakes, because that's not what I had in mind. Here's something that might interest you, made alertfuntional with hanovers do-it-yourself kit. Surprisingly you won't find any of these with the alerst on the outside bands, they're all on the MA. Makes ya wonder, or at least does me.


Quoting RaptorUK
It's this . . .
Now I'm certainly not saying that your indicator is having trouble expressing itself Raptor (theres a lot of info there) but if you can't find out from the chart, or an alert... well then maybe it's... der Grab?
Attached File(s)
File Type: mq4 BandsCross.mq4   9 KB | 682 downloads
  • #7
  • Jan 1, 2013 7:17am Jan 1, 2013 7:17am
Quoting brucewhain
Must be I'm having troubles expressing myself again nubcakes, because that's not what I had in mind. Here's something that might interest you, made alertfuntional with hanovers do-it-yourself kit. Surprisingly you won't find any of these with the alerst on the outside bands, they're all on the MA. Makes ya wonder, or at least does me.




Now I'm certainly not saying that your indicator is having trouble expressing itself Raptor (theres a lot of info there) but if you can't find out from the chart, or an alert... well then maybe it's... der Grab?...
have another go at describing what you meant. now that i re-read your post i can see 2 possible interpretations, neither are probably what you actually mean though :

a) you want to know when price has moved more than some specific distance over some set amount of time. a donchian channel just shows the highest high and lowest low over the last n period. so, isn't what you want just an alert when the range of the last n period is greater than some pip amount? hence why i say to just get someone's donchian indicator and ask them to add an alert when the channel exceeds some amount.

b) you want to know when price has moved... IN ONE MOTION... more than some specific distance over some set amount of time. instead of just knowing how wide the channel is for the last n period you specifically want to track consecutive bull or bear candles to see if they amount to exceeding some pip amount? still easy enough to create.

c) you want something else entirely and i just don't understand. isn't the first time. won't be the last time.
Congratulations ScalaFX for coming out of the closet!
  • #8
  • Jan 1, 2013 8:33am Jan 1, 2013 8:33am
Quoting brucewhain
Now I'm certainly not saying that your indicator is having trouble expressing itself Raptor (theres a lot of info there) but if you can't find out from the chart, or an alert... well then maybe it's... der Grab?
The Chart Grab is the image . . . because this stuff is working with ticks you can't see what happened after the event, unless you can utilise and replay tick data . . . so when the tick based event happens I record the event by automatically taking a picture - chart grab. The little horizontal lines you can see on some of the bars are when price moved fast enough to trigger the chart grab.
20 pips a day isn't too much to ask . . .
  • #9
  • Jan 1, 2013 6:13pm Jan 1, 2013 6:13pm
Quoting brucewhain
Oftentimes big intraday moves begin with a big initial impulse, say 10 pips in 5 minutes.
Just an observation, I have just seen GBPUSD move 11 pips in one tick . . .
20 pips a day isn't too much to ask . . .
  • #10
  • Jan 1, 2013 9:33pm Jan 1, 2013 9:33pm
Quoting RaptorUK
I have just seen GBPUSD move 11 pips in one tick . . .
Oh, now maybe this clarifies something for me, thereby making it more complicated: It might be that it's a certain (externally variable) extent of price movement WITHIN A CERTAIN (externally variable) NUMBER OF TICKS that I'm after, rather than what I said before. Though think it could be determined just by time, inasmuch as (now havn't thought tooo much about this yet) 1-minute would probably suffice nicely as the the minimum (externally variably) increment - of time. It might be this confusion (completely unforeseem by me) has something to do with the coding difficulty you mentioned earlier - how it's more complicated than I think (which you have to understand, I really don't have a sufficient notion of what's involved to think about it in any useful way at all, though am gradually reading through the mq4 book.)

But, and Nevertheless: Still think that - restricted to the minimum 1-minute external variable on the Time Axis - this whould not be too complicated to code, right?
  • #11
  • Jan 2, 2013 3:30am Jan 2, 2013 3:30am
Quoting brucewhain
Oh, now maybe this clarifies something for me, thereby making it more complicated: It might be that it's a certain (externally variable) extent of price movement WITHIN A CERTAIN (externally variable) NUMBER OF TICKS that I'm after, rather than what I said before. Though think it could be determined just by time, inasmuch as (now havn't thought tooo much about this yet) 1-minute would probably suffice nicely as the the minimum (externally variably) increment - of time. It might be this confusion (completely unforeseem by me) has something to do...
If you just want to look at a single M1 bar then that is simple, but will not do what you are now talking about, what if the move starts part way through a bar and runs into the next, then your 11 minute should be half of one M1 bar and half of the next, you can't see this by looking at M1 bars, you need to see it live . . . .
20 pips a day isn't too much to ask . . .
  • #12
  • Jan 4, 2013 5:40am Jan 4, 2013 5:40am
Quoting RaptorUK
...you can't see this by looking at M1 bars...
Wouldn't that just be Previous vs. current... oh boy, there I go...
  • #13
  • Jan 4, 2013 6:08am Jan 4, 2013 6:08am
maybe this?

http://codebase.mql4.com/8031
  • #14
  • Jan 4, 2013 6:29am Jan 4, 2013 6:29am
Quoting brucewhain
Wouldn't that just be Previous vs. current... oh boy, there I go...
Nope, comparing the 2 bars might find nothing significant if the move is made partly in one bar and finishes in the next . . . it would average itself out during the 2 M1 bars . . . if you look at ticks you will see the significant moves as big moves in a single tick . . IMO.

You can see 2 huge ticks in my custom tick chart . . . this is what I saw when I said "Just an observation, I have just seen GBPUSD move 11 pips in one tick . . ." a few posts back.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-M5-2013-01-02-044-edit.gif Size: 8 KB
20 pips a day isn't too much to ask . . .
  • #15
  • Jan 4, 2013 6:30am Jan 4, 2013 6:30am
Quoting juhanimi
maybe this?

http://codebase.mql4.com/8031
That just shows the time between ticks not any prices.
20 pips a day isn't too much to ask . . .
  • #16
  • Jan 4, 2013 6:33am Jan 4, 2013 6:33am
Okey, I missunderstood that

"price movement WITHIN A CERTAIN (externally variable) NUMBER OF TICKS that I'm after, rather than what I said before."

english it not my strongest thing.
  • #17
  • Jan 4, 2013 6:47am Jan 4, 2013 6:47am
Quoting RaptorUK
Nope, comparing the 2 bars might find nothing significant if the move is made partly in one bar and finishes in the next . . . it would average itself out during the 2 M1 bars . . . if you look at ticks you will see the significant moves as big moves in a single tick . . IMO.

You can see 2 huge ticks in my custom tick chart . . . this is what I saw when I said "Just an observation, I have just seen GBPUSD move 11 pips in one tick . . ." a few posts back.
are you sure you aren't hijacking his question and replacing it with your own ideas of what he 'should' be doing? the way i read it was that he just wanted a simple distance over time detection, but you are going on about ticks gapping and whatnot.

this thread is really disjointed and i don't think anyone is on the same page as each other.
Congratulations ScalaFX for coming out of the closet!
  • #18
  • Jan 4, 2013 7:34am Jan 4, 2013 7:34am
Quoting nubcake
are you sure you aren't hijacking his question and replacing it with your own ideas of what he 'should' be doing? the way i read it was that he just wanted a simple distance over time detection, but you are going on about ticks gapping and whatnot.

this thread is really disjointed and i don't think anyone is on the same page as each other.
Tick gapping ? there cannot be a gap between ticks, or do you mean something else ?

The OP was saying that "Oftentimes big intraday moves begin with a big initial impulse, say 10 pips in 5 minutes." I was simply pointing out that this can happen from one tick to the next, let alone over the course of a few minutes.

If the OP wants an indicator adn alert for a move of several pips over 5 minutes or 15 minutes a simple method would be to use iATR on M5 or M15 over a period of 1 . . . but I don't believe this kind of approach is what the OP is really talking about.
20 pips a day isn't too much to ask . . .
  • #19
  • Jan 4, 2013 3:21pm Jan 4, 2013 3:21pm
Quoting juhanimi
maybe this?

http://codebase.mql4.com/8031
Nope, nope, 'fraid that's not what I'm in the market for.
  • #20
  • Jan 4, 2013 3:42pm Jan 4, 2013 3:42pm
Quoting RaptorUK
if you look at ticks you will see the significant moves as big moves in a single tick . . .
Yes, that's what I mean: price points measured in time generally, across bars, not restricted to being within a single bar. (but i thought that would be easy to code.) And i see your indicator does make a pretty noticeable visual indication, which might work about as well as another expert.wav noise going off, given I've got about five of then at the ready, all with the same sound, if I want. (If you've got that BandsCross.mq4 on 3 or 4 charts with a low timeframe it CAN get annoying.) But a purely visual indi would lack the advantage of setting a certain threshhold and not getting notified till it occurs.
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