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Low Volume Candles

  • #241
  • Aug 7, 2015 4:31am Aug 7, 2015 4:31am
Dear abokwaik!

Can you please add an alert to this version? Cuz this version works properly in my MT4.


Attached File(s)
File Type: mq4 LVC_Detector_02.mq4   3 KB | 585 downloads
  • #242
  • Aug 7, 2015 7:02am Aug 7, 2015 7:02am
Quoting FerruFx
{quote} The reason is in post #235
Thanks FerruFx, I found v.2 to work perfectly.
Hercs
  • #243
  • Aug 7, 2015 5:17pm Aug 7, 2015 5:17pm
Please, anybody can put an alert. This indicator apeears fantastic. The version 2 works but dont have an alert
  • #244
  • Aug 7, 2015 7:32pm Aug 7, 2015 7:32pm
Volumes is useless in forex, since the market is traded off the exchanges, you will only be able to see the tick volume of your broker,
there is no way anyone could possibly know the real volume for the intire forex market, which btw is huge.
and there is no way to know if 1 tick is 1 microlot or 300 lots. can anyone explain to me how volume can be of any value? I just don't get it
Bulls are stupid Animals!especially when Im short!
  • #245
  • Aug 7, 2015 9:36pm Aug 7, 2015 9:36pm
Quoting roughtrader
Volumes is useless in forex, since the market is traded off the exchanges, you will only be able to see the tick volume of your broker, there is no way anyone could possibly know the real volume for the intire forex market, which btw is huge. and there is no way to know if 1 tick is 1 microlot or 300 lots. can anyone explain to me how volume can be of any value? I just don't get it
from original action (transaction settlements -> ask/bid) we are almost 1-2 seconds delay via mt4 from original market action. (mostly mt4 sleeps during these actions) more simply to say we are unable to catch these moves from their head(from their binging points) .
alternative: if we are able to organize their history perfectly we still have 99% probability to see their unsettled bids/offers via mt4 on certain points in form of LVC & HVC.

volume in mt4 = settlement of ask and bid lots, and these settlements are different from broker to broker and Lps to Lps sources always, and will be)
from binging i recommended LVC work perfectly with ECN brokers, incase you don't have ECN account just open demo with any ECN broker, its work perfectly with all ECNs which keep their history organized with their Lps (any Lps) - i think its possible.
  • #246
  • Aug 8, 2015 9:33am Aug 8, 2015 9:33am
Quoting roughtrader
Volumes is useless in forex, since the market is traded off the exchanges, you will only be able to see the tick volume of your broker, there is no way anyone could possibly know the real volume for the intire forex market, which btw is huge. and there is no way to know if 1 tick is 1 microlot or 300 lots. can anyone explain to me how volume can be of any value? I just don't get it
To eachs own, cumulative volume would tell a different story
Learn, a forex trader must, unlearn and relearn he will.
  • #247
  • Aug 8, 2015 3:44pm Aug 8, 2015 3:44pm
Quoting abokwaik
{quote} Thanks Rooi, It worked but alert is fired with each tick. I hope this will fix it. (not able to test it yet). {file}
Hi,


This version still does not load on to the chart any ideas on what to do to fix it? Thanks
  • #248
  • Aug 9, 2015 8:33am Aug 9, 2015 8:33am
Sorry, I've been busy with my daily work.

This is a new version. Hopefully it will work fine for all.

Kindly update me on any errors.

New added input parameters:

arrow_buffer=5;//Arrow Distance in pips/points : This will control the placement of the arrow from Low or High in Pips or Points
closedHistoryBars=500;//History Bars for Closed LVCs : This will check for closed LVCs in the previous 500 bars
enable_alerts=false;//Enable Alerts for New LVCs : This will enable alerts for newly formed LVC
closed_enable_alerts=false;//Enable Alerts for Closed LVCs : This will enable alert for newly closed LVC
Attached File(s)
File Type: ex4 LVC_Detector_04.ex4   14 KB | 822 downloads
No guts, no glory
  • #249
  • Aug 9, 2015 8:42am Aug 9, 2015 8:42am
Quoting COGSx86
{quote} To eachs own, cumulative volume would tell a different story
True, but do you have any ideas on how to get cumulative volume ?
No guts, no glory
  • #250
  • Aug 9, 2015 9:02am Aug 9, 2015 9:02am
Quoting abokwaik
{quote} True, but do you have any ideas on how to get cumulative volume ?

http://www.forexfactory.com/showthread.php?t=429320
  • #251
  • Aug 9, 2015 5:21pm Aug 9, 2015 5:21pm
Quoting hukam
{quote} from original action (transaction settlements -> ask/bid) we are almost 1-2 seconds delay via mt4 from original market action. (mostly mt4 sleeps during these actions) more simply to say we are unable to catch these moves from their head(from their binging points) . alternative: if we are able to organize their history perfectly we still have 99% probability to see their unsettled bids/offers via mt4 on certain points in form of LVC & HVC. volume in mt4 = settlement of ask and bid lots, and these settlements are different from broker to...
​
you are talking about arbritage, to take advantage of the delay between brokers, sure it is a valid strategy, but the brokers are not going to like you,, they will probably ban your account, just saying, you could do it with stocks traded on exchanges, but with Forex you can forget about it, there is simply no fx broker who allow you to trade this way I am afraid :/ if you find one then please tell me asap!
Bulls are stupid Animals!especially when Im short!
  • #252
  • Aug 10, 2015 7:23am Aug 10, 2015 7:23am
Quoting abokwaik
Sorry, I've been busy with my daily work. This is a new version. Hopefully it will work fine for all. Kindly update me on any errors. New added input parameters: arrow_buffer=5;//Arrow Distance in pips/points : This will control the placement of the arrow from Low or High in Pips or Points closedHistoryBars=500;//History Bars for Closed LVCs : This will check for closed LVCs in the previous 500 bars enable_alerts=false;//Enable Alerts for New LVCs : This will enable alerts for newly formed LVC closed_enable_alerts=false;//Enable Alerts for Closed...

Can you please share in mq4 format?
  • #253
  • Aug 10, 2015 8:21am Aug 10, 2015 8:21am
hi abokwaik did you forget about n4s? wait for you.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #254
  • Aug 10, 2015 10:16am Aug 10, 2015 10:16am
Quoting Bernhard
hi abokwaik did you forget about n4s? wait for you.
No Dear Bernhard, Just busy with my daily job.
No guts, no glory
  • #255
  • Aug 10, 2015 10:17am Aug 10, 2015 10:17am
Quoting DrDre
{quote} Can you please share in mq4 format?
Attached as requested.
Attached File(s)
File Type: mq4 LVC_Detector_04.mq4   7 KB | 2,110 downloads
No guts, no glory
  • #256
  • Aug 10, 2015 10:29am Aug 10, 2015 10:29am
Quoting abokwaik
{quote} True, but do you have any ideas on how to get cumulative volume ?
http://www.forexfactory.com/showthre...68#post8239768
Learn, a forex trader must, unlearn and relearn he will.
  • #257
  • Aug 10, 2015 12:48pm Aug 10, 2015 12:48pm
Quoting abokwaik
{quote} Attached as requested. {file}

Thanks!
  • #258
  • Aug 30, 2015 5:24pm Aug 30, 2015 5:24pm
A very interesting thread and concept.
I was wondering if someone tested this indicator further more...
  • #259
  • Sep 1, 2015 7:46am Sep 1, 2015 7:46am
Quoting Caatinga
A very interesting thread and concept. I was wondering if someone tested this indicator further more...
Hi Caatinga,

In addition to the quoted post, I am also attaching your PM below.

//----------------------
Hello Khalil,

I've been reading the thread LVC and last Friday I had 100% success (with the entries (which are not entries as it seams) that the indicator LVC-04 gave me on NZDJPY and CADJPY. Unfortunelly today, Monday and in some other pairs I had no success at all.
I was looking and reading the explanations on the thread but I failed to understand the logic behind it.
How do you say if a candle is giving you a Long signal? Do you look at the trend or at the LVC colour?

If you have the time, I would apriciate a simple explanation.
Thanks in advance,
Caatinga

------------------//

My Explanation:

LVC indicator shows potential (possible) Target Levels for FUTURE entries.

So it is NOT an ENTRY system, its actually an EXIT ONLY system.

Your entries would be according to whatever other system you are using (MA based, Oscillator based, Candle Stick Patterns ... etc).
THEN for example after you get an LONG entry signal based on your OWN system, LVC indicator offers the following:

1- Further Confirmation of Your Signal. (when you have multiple FRESH Long Target LVCs at an acceptable distance above your entry signal, and/or, you have CLOSED Short Target LVCs below your entry signal).

2- TP Target(s), at Fresh Long Target LVCs above your signal.

Look at the below chart (Live chart GBP/USD M15)

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDrM15.png Size: 59 KB


When your system gives a long signal on this chart.
1. It is confirmed by LVC indicator as you have multiple fresh long target LVCs (I can see 2 at 1.5374 and 1.5417)
2. First TP target at 1.5374, second TP target at 1.5417.

I hope its clear now.
No guts, no glory
  • #260
  • Sep 1, 2015 8:23am Sep 1, 2015 8:23am
volume spread analysis gives you a heads up of possible reversals also... then the stochastic changes...... then you get in.....has anyone run a strategy tester to take those trades to the lvc targets... i'd like to see what results are it was just an idea that popped into my head after looking at your chart... wondering......
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