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'Room to move' indicator

  • #21
  • Nov 19, 2016 9:16am Nov 19, 2016 9:16am
Amazing work. Hopefully this isn’t a dumb question, but is there any way to make the N-day ADR the average of the 1, 5, 10 and 20 day ranges? My current ADR indi (off chart in the ind window) uses that average and I’m wanting to use this indi along with it to plot the 50, 75 and 100 up and down levels. Would make a lot more sense to use the same avg. as my current ADR indi instead of going with 5 day, for example. Thanks for any help!
  • #22
  • Nov 20, 2016 5:19am Nov 20, 2016 5:19am
Quoting acdfx
is there any way to make the N-day ADR the average of the 1, 5, 10 and 20 day ranges?
No, sorry, currently it is possible to set only a single value for N.
  • #23
  • Nov 20, 2016 5:49am Nov 20, 2016 5:49am
Thank you Hanover - this is exactly what I was looking for, it was either this or do it manually through excel and transferring data to charts.

Question, would you happen to know if there is a MT4 indicator that plots horizontal lines as in 'Price Levels' where the horizontal line doesn't take up the full chart. Example below
Attached Image (click to enlarge)
Click to Enlarge Name: Price Level.jpg Size: 205 KB
  • #24
  • Nov 20, 2016 10:43am Nov 20, 2016 10:43am
Quoting hanover
{quote} No, sorry, currently it is possible to set only a single value for N.
I suppose the request -- if you decide to add it, about which I have no personal interest either way -- could be implemented with something like:
double adr1 = iATR(NULL,PERIOD_D1,1,0);
double adr5 = iATR(NULL,PERIOD_D1,5,0);
double adr10 = iATR(NULL,PERIOD_D1,10,0);
double adr20 = iATR(NULL,PERIOD_D1,20,0);
double adrall = (adr1 + adr5 + adr10 + adr20)/4.0;
Alert("DEBUG adrall=",adrall," adr1=",adr1," adr5=",adr5," adr10=",adr10," adr20=",adr20);

Or in one line:
double adrall = ( iATR(NULL,PERIOD_D1,1,0) + iATR(NULL,PERIOD_D1,5,0) + iATR(NULL,PERIOD_D1,10,0) + iATR(NULL,PERIOD_D1,20,0) )/4.0;

The adrall (final average) is a simple average of the 4 ADR's, but as compared to the adr20, would give much higher weighting towards the most recent bars, since adr1 makes up a 1/4, and adr5 makes up another 1/4.

Given the premise of this indicator, I would guess it to be a useful alternative way to calculate an "ADR" that adjusts to changes of market conditions, but not fully based on the recent bars, nor fully based on a longer average.
  • #25
  • Edited 5:06pm Nov 20, 2016 11:34am | Edited 5:06pm
Quoting pips4life
I suppose the request -- if you decide to add it, about which I have no personal interest either way -- could be implemented with something like.........
Thanks for your reply. Sure, it could be coded, just like anything else.

@nobody_in_particular: I've attached the source code to post #1, in case anybody wants to modify it. Requires the build 509 compiler (note to non-programmers: this means that the mq4 will not compile/run correctly on the latest MT4 builds, so download the ex4 only).

Quoting TSniper23
would you happen to know if there is a MT4 indicator that plots horizontal lines as in 'Price Levels' where the horizontal line doesn't take up the full chart.
I use Critical Levels indy (description here; latest version attached) to plot pivots, fib levels, round numbers, previous daily OHLCs, etc on the RHS of main chart. Can also plot lines over candles by setting LineStartPoint to a negative value. Not sure if this is the kind of indy you're looking for.
Attached File(s)
File Type: ex4 Critical Levels.ex4   38 KB | 748 downloads
  • #26
  • Mar 22, 2017 2:39pm Mar 22, 2017 2:39pm
Hello everyone, I`ve downloaded a RmUp RmDn indicator and I would have a question if you don`t mind please because I don`t have any mql4 knowledge. I need to know the formula from RmUp RmDn indicator and I had a look in the source so I`ve found this line: RmUp = MathRound(adr - (Bid - low0)/point). My question would be what means "point" in this case? Could you help me please, I would really appreciate your replies, many thanks in advance! I`ve attached the indicator here!
Attached File(s)
File Type: mq4 xADR_0.2renko.mq4   4 KB | 481 downloads
  • #27
  • Mar 24, 2017 7:55am Mar 24, 2017 7:55am
Quoting DianaT
I need to know the formula from RmUp RmDn indicator and I had a look in the source so I`ve found this line: RmUp = MathRound(adr - (Bid - low0)/point). My question would be what means "point" in this case?
I haven't looked at your mq4 file, but Point (as defined in MQL4) is the value of a pipette (or the smallest displayable decimal place), and can be used to convert pipettes to the value of the quote currency.

For example, with USDJPY, 1 pipette = 0.001, therefore Point would equal 0.001. Hence if you wanted to convert 400 pipettes, it would equal 400 x Point = 0.400 JPY

Whereas with a pair like EURUSD, 1 pipette = 0.00001, therefore Point would equal 0.00001. Hence if you wanted to convert 400 pipettes, it would equal 400 x Point = 0.00400 USD

In your formula, dividing by Point is doing the reverse, i.e. converting a price difference (between Bid and low0, e.g. 0.400) back to pipettes (400).
  • #28
  • Mar 24, 2017 5:12pm Mar 24, 2017 5:12pm
Quoting hanover
{quote} I haven't looked at your mq4 file, but Point (as defined in MQL4) is the value of a pipette (or the smallest displayable decimal place), and can be used to convert pipettes to the value of the quote currency. For example, with USDJPY, 1 pipette = 0.001, therefore Point would equal 0.001. Hence if you wanted to convert 400 pipettes, it would equal 400 x Point = 0.400 JPY Whereas with a pair like EURUSD, 1 pipette = 0.00001, therefore Point would equal 0.00001. Hence if you wanted to convert 400 pipettes, it would equal 400 x Point = 0.00400...
Hi Hanover, thank you for your reply, I`ve done some researches before I post that question and I found on mql4 website your answer too, but in the code there is something like:
"point=Point;
if( Digits==3 || Digits==5 ) point=point*10;"
and becasue my mql4 knowledge is 0 that`s why I`m confused
  • #29
  • Mar 24, 2017 7:42pm Mar 24, 2017 7:42pm
thank you...
  • #30
  • Mar 25, 2017 8:08am Mar 25, 2017 8:08am
Nice indicator, just noticed it. Thanks again.
I wonder if we can specify a start time & lock it for the day ?
It never gets easier, you just get better
  • #31
  • Mar 25, 2017 8:38am Mar 25, 2017 8:38am
Vary nice indi to share

thank you
Live today like theres no tomorrow-- Prioritize like you will die today
  • #32
  • Mar 25, 2017 10:56pm Mar 25, 2017 10:56pm
Quoting DianaT
but in the code there is something like: "point=Point; if( Digits==3 || Digits==5 ) point=point*10;"
That is because the programmer wishes to consistently express the result in pips, rather than pipettes.

The value in Digits is the number of decimal places that your br0ker is using to quote prices for the given pair.

In the old days, most br0kers displayed the quoted price of JPY pairs with 2 decimals (e.g. USDJPY = 111.25), and non-JPY pairs with 4 decimals (e.g. EURUSD = 1.0804).
Now most modern br0kers display the quoted price of JPY pairs with 3 decimals (e.g. USDJPY = 111.251), and non-JPY pairs with 5 decimals (e.g. EURUSD = 1.08041).

Hence, in the old days, Point was equivalent to a pip (0.01 or 0.0001), but nowadays it is equivalent to a pipette (0.001 or 0.00001).
Hence to be consistent, and express results in pips no matter how many decimals the br0ker is using, it is necessary to multiply the number of pipettes by 10 in the case of modern br0kers (where the number of Digits, i.,e. decimal places, is 3 or 5).
  • #33
  • Mar 26, 2017 12:26am Mar 26, 2017 12:26am
Added new setting: UseGlobalVariables.
Explanation and download: see post #1.
  • #34
  • Mar 26, 2017 1:54am Mar 26, 2017 1:54am
Hanover , Trading in Daily , And Uplevel and Downlevel is too tight , Please what should i do ,
  • #35
  • Edited 7:04pm Mar 26, 2017 2:37am | Edited 7:04pm
Quoting terminator12
Trading in Daily , And Uplevel and Downlevel is too tight , Please what should i do ,
Indicator uses average daily range and is therefore designed for use in shorter, intraday timeframes.

A similar phenomenon occurs if you plot, for example, lines that are 50 pips apart.
On an intraday TF, there is a significant distance between the lines.
On a long (e.g. weekly, monthly) TF, the lines are very close together.
  • #36
  • Edited 5:26am Mar 26, 2017 4:29am | Edited 5:26am
you mean something like this...?

really its just an intraday fib, im sorry if this isn't what it is, i read the first post and thought it is similar, in this case %200 is double the daily range on top of previous day high (vice versa for the low)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 29 KB
  • #37
  • Mar 26, 2017 5:08am Mar 26, 2017 5:08am
Following your work. Thanks and
Regards
  • #38
  • Mar 26, 2017 4:20pm Mar 26, 2017 4:20pm
Quoting hanover
{quote} That is because the programmer wishes to consistently express the result in pips, rather than pipettes. The value in Digits is the number of decimal places that your br0ker is using to quote prices for the given pair. In the old days, most br0kers displayed the quoted price of JPY pairs with 2 decimals (e.g. USDJPY = 111.25), and non-JPY pairs with 4 decimals (e.g. EURUSD = 1.0804). Now most modern br0kers display the quoted price of JPY pairs with 3 decimals (e.g. USDJPY = 111.251), and non-JPY pairs with 5 decimals (e.g. EURUSD = 1.08041)....
Thank you for a such detailed reply Hanover!
  • #39
  • Aug 4, 2017 5:08pm Aug 4, 2017 5:08pm
Hello Hanover. I am hoping that adding alerts to this indicator would be of interest to you. I noticed also that you had a copy and paste code for adding alerts posted at one point but , it seems to no longer exist.(The alerts code is how I round the %Range indicator) I guess the question is , would you be willing to add alerts to the RoomUpDown indicator ? And/or would you be willing to share the add alerts code. I have another indicator I would like to add alerts to. Have been trying to dabble in coding a bit but , it is a lot to take at the moment. I wanted to also share with you another indicator I found on FF that I am curious if you are interested in tinkering with. I'll share below. Please let me know if you would like to here the idea ,Thanks
Attached File(s)
File Type: mq4 DWMRanges.mq4   13 KB | 500 downloads
  • #40
  • Aug 4, 2017 10:11pm Aug 4, 2017 10:11pm
Quoting ShuffleKing
I am hoping that adding alerts to this indicator would be of interest to you.........Please let me know if you would like to here the idea
Many thanks for your offer. Although I'm always happy to look at new profitable ways to trade, I don't use a lot of indicators in my own trading these days.

I'm currently attending two different training courses, and also working on an EA. Hence I don't have a lot of time to look at any other programming work until September.

Alerts for Room Up/Down is not necessarily a straightforward process. Firstly, price can touch the same price level several times during the day, and secondly, the levels move around whenever price makes a new high/low. Hence you'd need to devise some precise rules as to how you wanted the alerts to operate.

I do all of my coding using my own code libraries and MetaEditor/compiler build 509 (see the 'Note to programmers' just above the screenshot in post #1). This means that, firstly, I can't modify indicators written by other programmers; secondly, all of my own code (including the copy/paste alerts code that you mentioned) compiles with errors nowadays if compiled on the latest MT4 builds; thirdly, if I post any MQ4 source code (which I'm happy to do) you'd need to load the MetaEditor/compiler build 509 as explained here, if you want to modify it. Hence if you want other indicators modified, your best bet might be to post in one of the "I code for free" threads, and hopefully another programmer will help you.
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