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Volatility indicators (histogram version and alerts needed)

  • #81
  • Edited 12:02pm Apr 29, 2015 11:22am | Edited 12:02pm
Quoting MathTrader7
{quote} So, I think I need to write an EA to create USDLFX and EURLFX offline charts.


Will it be possible to code as an indicator instead of an EA??? If you prefer the creating offline charts option to using the indexes offered by brokers like LITEFOREX, then its ok. Abokwaik has written a very nice Basket create Script if that may be of help.(attached).

Quoting MathTrader7
{quote}Then, I apply SuperTrend indicator on them.


Yes.

Quoting MathTrader7
{quote}what is the formula for strength and volatility based on the values we read from SuperTrend indicator applied to USDLFX and EURLFX?


Yes. (Period/Multiplier setting is 48/3 for Supertrend on M30 TF). Sent you a PM with more info on the strength calculations.

Quoting MathTrader7
{quote} For volatility, I guess if SuperTrend is going down, the indicator draws RED histo-bar, and a GREEN if it goes up, right?


Exactly. But be careful with the color code for the counter currencies. For example, on EURUSD, Strong USD Volaitility and Strength readings would actually been seen as RED HISTOGRAM BARS on the EU Chart! Makes sense?
Attached File(s)
File Type: ex4 Create_Basket_Script_03.ex4   25 KB | 689 downloads
File Type: mq4 Create_Basket_Script_03.mq4   18 KB | 814 downloads
  • #82
  • Apr 29, 2015 11:57am Apr 29, 2015 11:57am
MathTrader


You may want to check this out (or something similar) for a US index formula

https://www.theice.com/publicdocs/fu..._Index_FAQ.pdf The EUR index formula is http://en.wikipedia.org/wiki/Euro_Currency_Index. There is likely a more official version somewhere.

I have seen USD index indicators like this http://www.forexfactory.com/showthread.php?p=4187627 (there are other examples out there) - as a separate line indicator. I haven't seen a good similar version for the EUR index - there are versions that simply mirror (opposite) the USD index, but that doesn't make sense given the formula for the EUR index.

Hope this helps at getting at what the formulas are and how they have been applied to date. I definitely like LITEchild's thinking here so think its worth pursuing.
  • #83
  • Apr 29, 2015 12:07pm Apr 29, 2015 12:07pm
Quoting pakeha
MathTrader You may want to check this out (or something similar) for a US index formula https://www.theice.com/publicdocs/fu..._Index_FAQ.pdf The EUR index formula is http://en.wikipedia.org/wiki/Euro_Currency_Index. There is likely a more official version somewhere. I have seen USD index indicators like this http://www.forexfactory.com/showthread.php?p=4187627 (there are other examples out there) - as a separate line indicator. I haven't seen a good...
Thanks Pakeha for the suggestions. I am still of the opinion though that it would be much simpler to just use already existing index charts from brokers that offer them. Why reinvent the wheel? Its up to MT7 though. Fingers crossed.
  • #84
  • Apr 29, 2015 12:20pm Apr 29, 2015 12:20pm
Quoting pakeha
MathTrader You may want to check this out (or something similar) for a US index formula https://www.theice.com/publicdocs/fu..._Index_FAQ.pdf The EUR index formula is http://en.wikipedia.org/wiki/Euro_Currency_Index. There is likely a more official version somewhere. I have seen USD index indicators like this http://www.forexfactory.com/showthread.php?p=4187627 (there are other examples out there) - as a separate line indicator. I haven't seen a good...
Thanks for the links. I have already started the project. Hopefully I will come back with USDLFX and EURLFX offline chart creator EA by Monday.
Trading is the hardest way to make easy money...
  • #85
  • Apr 29, 2015 12:21pm Apr 29, 2015 12:21pm
Quoting LITEchild
{quote} Thanks Pakeha for the suggestions. I am still of the opinion though that it would be much simpler to just use already existing index charts from brokers that offer them. Why reinvent the wheel? Its up to MT7 though. Fingers crossed.
Sure, we can use Liteforex for this purpose, however, I think it would be better to have such offline charts since that makes it easier for developing an EA based on this strategy that could work on any broker.
Trading is the hardest way to make easy money...
  • #86
  • Apr 29, 2015 12:31pm Apr 29, 2015 12:31pm
Quoting MathTrader7
{quote}I have already started the project.
Quoting MathTrader7
{quote} Sure, we can use Liteforex for this purpose, however, I think it would be better to have such offline charts since that makes it easier for developing an EA based on this strategy that could work on any broker.
Awesome!
  • #87
  • Apr 29, 2015 1:28pm Apr 29, 2015 1:28pm
...momentum shift...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURLFXM30.png Size: 17 KB
Click to Enlarge Name: USDLFXM30.png Size: 17 KB
Click to Enlarge Name: EURUSDM30.png Size: 32 KB
  • #88
  • Apr 29, 2015 1:33pm Apr 29, 2015 1:33pm
@ Litechild

What parameter do you use on xsupertrend mtf?
  • #89
  • Apr 29, 2015 1:38pm Apr 29, 2015 1:38pm
Quoting kofix11
@ Litechild What parameter do you use on xsupertrend mtf?
mentioned several times in my previous posts.
  • #90
  • Apr 29, 2015 1:39pm Apr 29, 2015 1:39pm
Thanks! :-)
  • #91
  • Apr 29, 2015 1:44pm Apr 29, 2015 1:44pm
Quoting kofix11
Thanks! :-)
  • #92
  • Apr 29, 2015 2:11pm Apr 29, 2015 2:11pm
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BUFFER.png Size: 3 KB
Click to Enlarge Name: NZDLFXM30.png Size: 22 KB
Click to Enlarge Name: USDLFXM30.png Size: 17 KB
Click to Enlarge Name: NZDUSDM30.png Size: 23 KB
  • #93
  • Apr 29, 2015 3:05pm Apr 29, 2015 3:05pm
LITEchild

I did ask about the purple/magenta line previously. Is that a standard indicator (e.g. like a PSAR) or something proprietary? Thanks
  • #94
  • Apr 29, 2015 3:35pm Apr 29, 2015 3:35pm
Quoting pakeha
LITEchild I did ask about the purple/magenta line previously. Is that a standard indicator (e.g. like a PSAR) or something proprietary? Thanks
xsupertrend indicator.
  • #95
  • Apr 29, 2015 4:03pm Apr 29, 2015 4:03pm
Quoting LITEchild
{image} {image} {image} {image}
I believe...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM30.png Size: 40 KB
  • #96
  • Apr 29, 2015 5:15pm Apr 29, 2015 5:15pm
Quoting LITEchild
{quote} xsupertrend indicator.
Thanks ... missed that part. Need to look at xsupertrend a little closer. I have tested it in the past but never stuck with it.
  • #97
  • Apr 29, 2015 5:30pm Apr 29, 2015 5:30pm
Quoting pakeha
{quote}I have tested it in the past but never stuck with it.


thats usually always the problem isnt it? We always never 'stick with it'. We are always searching. Even after we've found 'it'...
  • #98
  • Apr 29, 2015 5:53pm Apr 29, 2015 5:53pm
Quoting LITEchild
{quote} thats usually always the problem isnt it? We always never 'stick with it'. We are always searching. Even after we've found 'it'...
Lol. True. Found it a bit lagging for me as I mostly trade trend-line breaks on TF lower than 30 min, but certainly willing to give it another shot in the context of SCALP DELIGHT
  • #99
  • Apr 29, 2015 8:50pm Apr 29, 2015 8:50pm
Quoting LITEchild
...momentum shift... {image} {image} {image}
This is a good post, although it is not easy and need times. Thanks LiteChild. Subscribe ...
Good friends are more valuable than gold ...
  • #100
  • Apr 29, 2015 11:55pm Apr 29, 2015 11:55pm
Hi LITEchild

where is Currency Volatility and Strength Histogram indy,if you can share it

thx a lot.
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