Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

akifusenet

Market Statistics Indicator for MT4!

Recommended Posts

Hello everybody again.

 

Sorry for posting my first indicator (MIDAS) to Technical Analysis section.Somehow I couldnt manage to open a new thread for that indicator in this section at that time. Now things look ok. Maybe it should be moved here also.

http://www.traderslaboratory.com/forums/f34/midas-indicator-mt4-6538.html

 

So this is my second indicator. And this indicator is created to be able to follow Jperl's Market Statistics thread on MT4.

 

As I already talked about in my MIDAS post these are my first indicators and I am just learning MQL. So feel free to send me comments, bugs,anything...

 

I might also post skewness indicator in a later post.

 

 

Thanks for trying..

 

Akif,

marketstatistics.gif.a67357a752440f9244c2b2d260b434dd.gif

Market_Statistics_v1.mq4

Share this post


Link to post
Share on other sites

Hello Everyone,

 

Hopefully I can inspire a MT programmer to develop a Market foot print Delta indicator with this Picture. This is the closest I can get to tape reading the Forex or any market.

 

I have been using NinjaTrader to build charts for the Forex. The chart I posted shows the GBP/USD for today around FOMC time. It is set at a 15 pip range. One of the basic thing I do using this type of chart is to draw trend lines through the POC (Point of Control) and if a POC crosses the trend line I look to enter the market against the trend works pretty good.

 

FYI the Point of Control is where most of the trades took place during the construction of the range bar and if you look at each bar you can see a blocked off or in bold section which is the point of control area.

The only way I got to make the market foot print indicator to work on the Forex was to change the setting to use uptick instead of bid and ask.

You can download NinjaTrader for free and make a Forex connection through Gain also you can use the market delta footprint for free for 30 days if you want to play around with it.

Another excellent way to measure gauge a trend or move is to use Delta percentage and if someone can develop a simple indicator to show the where most trades are taking place if on a up or down tick and plot it as a percentage it would be very helpful to read the market to see where the buyer or sellers are starting to put up a fight.

 

Thanks,

 

Robinhood69

5aa70f131f270_GBPUSD8_12_2009(15Range).thumb.jpg.7e6878076f9201f406e92d6cdd21a2df.jpg

Share this post


Link to post
Share on other sites

Trouble is Robin that nearly all the people that provide MT4 do so for spot forex. It is impossible to produce that sort of chart for spot as the required info is just not reported.

Share this post


Link to post
Share on other sites

On of the biggest handicaps of MT4 is it cant do range bars(or tick bars) like your Ninja chart. So it is really hard to get that same picture in MT4.(but i am quite new to that:))

 

But this one looks interesting. I will check on that.

 

Akif,

Share this post


Link to post
Share on other sites

Hello BlowFish,

 

Yeah that’s what a bummer about Forex is that it’s a spot market but I was able to tweak the Market footprint to show up tick and down tick transactions that seem to work well for the Forex. I like I said this is the closest I can get to reading tape. At the very least it can show you the battle price or POC at each candles being form where most of the transaction took place at which price level which I think is a great advantage to seeing price action in a different light and hopefully catch moves earlier and risk less by knowing which prices the buyer and sellers are actually fighting for.

 

FYI I also have the each block price to show it at 2 tick increments.

 

I don’t know if the picture I post can be seen because I tried and it does not pull it up on my side so I’ll post a link to my screencast picture.

 

2009-08-13_0915

 

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

Yeah that’s been the biggest problem with me transitioning to the Forex is trying to use minuet charts. I build a couple of Market Delta footprint charts using minuets charts to see how they look.

 

It looks pretty good on 5 minuet charts and above.

 

Here is a 5 min and 10 min chart of GBP/USD. It is a great way to see which price is the battle prices of each candle.

 

Let me know if you can see the pictures?

 

Thanks,

 

Robinhood69

5aa70f13b88d3_GBPUSD8_13_2009(5Min).thumb.jpg.f40bca7c24b175b60b072d55e5f84d87.jpg

5aa70f13c13a1_GBPUSD8_13_2009(10Min).thumb.jpg.5b56fa57ada695706131f85f4427b6d4.jpg

Share this post


Link to post
Share on other sites

Hello Blowfish,

 

I wish that’s why I’m trying to inspire some who like programming to make something similar to this for MT but NinjaTrader can be used free in demo mode to build these charts but the Market footprint a monthly subscription of $59 a month but the cool thing is you can use it for a 30 day trial run for free. Just get a demo account from Forex (Gain Capitol) or Ampforex which you can set up and set up a forex connection through Gain for Forex. That way you can play around with it for 30 days at least.

I think I should not be posting up links but just Google financial algorithms NinjaTrader and you can find it. Very easy to install and NT is very user friendly.

 

If you decide to use it and have problems setting the settings let me know and I’ll show you what settings I used.

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

Yes I'm Pretty sure that's the way it is set up they get permission from Market Delta.

 

Yeah I like it a lot but I have just been simming it right now but I can see a lot of potential uses for it.

Especially looks good on point and figures or reversal charts by reading on an up bar when the sellers are starting to come in and vice versa.

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

Hi Robin,

 

it might be a little bit off topic here, but I would like to ask you about your value chart.

Is it just a standard one with setting 5 (like mine?) ?

 

My POC/PVP looks different to yours, and makes no sense to me, so its not on my chart.

My chart shows a 14 range on FOMC with two ADXVMA's and a 10 linear regression system on it.

 

attachment.php?attachmentid=12902&stc=1&d=1250206133

 

 

Regards,

 

Hal

6B-14r-FOMC.thumb.png.6131cc274104df7f0576f9f499d90ab4.png

Share this post


Link to post
Share on other sites

As I like JPerl's approach too, here is a second picture, FWIW:

 

attachment.php?attachmentid=12906&stc=1&d=1250207340

 

The POC/PVP is very different to yours and the simple concept that JPerl

uses. This leads me to another question:

Do you have the code for your POC/PVP calculation available?

 

Your system looks fine to me too.

 

Regards,

 

Hal

6B-14r-FOMC-II.thumb.png.122a947daf5db4eaf2fd208b7dfc3613.png

Edited by HAL9000
;-) As always.

Share this post


Link to post
Share on other sites

Hello Hal9000,

 

I don't think you are much off topic because Market Delta is very similar to Value charts in that Market delta shows value also, like where the buyer and sellers are willing to do there transactions which equals value for any instrument

 

I have my value chart set at 15, I feel it gives it more room to over valued or under valued since I'm trying to find the bigger moves but my other charts I do use the 5 setting to hop on a trend I really like to use the 5 setting value indicator to hop on the direction of a trend when prices retrace. Value charts work well for that.

 

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

The trouble with PVP is unless you assign every single tick to the apropriate price you will get discrepancies due to averaging the volume across a range of prices (a bar). Could that be the problem?

Share this post


Link to post
Share on other sites

Hello Hal9000,

 

Plus what I think is also happening is that you are displaying more bars compared to my charts thats why it looks differnt. if I display more bars and set the range to yours it should look the same.

 

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

Hello Blowfish,

 

I use one of the Calculated Value areas that I downloaded on the indicator section in NinjaTrader. I believe there is 2 or 3 of them located there. There is another web site called trading studies dot com that has a bunch of free cool indicators you can download for free. Like Renko bars which are pretty cool to filter out noise and give you the core trend.

 

It is the indicator that will say dValueArea on your indicator list and that’s the one that plots the histogram. There are others that don’t plot the histogram and just plot the value area but dValueArea one does.

 

Let me know if you need it and I’ll e-mail it to you.

 

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites

Hello Blowfish,

I learned about Value areas from Larry Levin on how and why floor traders use these areas where 70% of all the volume was traded during a certain period of time is where value areas are calculated. I also found a PDF from Market Delta show some brief history and how to trade these value areas.

 

Hope that helps.

 

If you want the PDF let me know I have it in my other computer.

 

Thanks,

 

Robinhood69

Share this post


Link to post
Share on other sites
Which software is this (using Java?)

 

Akif

 

Hello Akif,

 

this Java application is my own implementation, based on some open sources.

 

It wasn't intended as charting application, but now I use it to create my pictures.

 

 

Regarding my PVP implementation, maybe its best to forget about it,

maybe I made an error, but anyway what it should show is the PVP based on the 3rd central moment, and well, my intention wasn't to add confusion.

 

Regards,

 

Hal

Share this post


Link to post
Share on other sites
Hello Blowfish,

I learned about Value areas from Larry Levin on how and why floor traders use these areas where 70% of all the volume was traded during a certain period of time is where value areas are calculated. I also found a PDF from Market Delta show some brief history and how to trade these value areas.

 

Hope that helps.

 

If you want the PDF let me know I have it in my other computer.

 

Thanks,

 

Robinhood69

 

I made the mistake of buying his course. Certainly not one of my best purchases <blush>. I have a large trading library though.

 

I was wondering what the actual indicator is that plots the value histogram, probably didn't express myself that well.

Edited by BlowFish

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 31st March 2025.   Trump Confirms Tariffs on All Countries, Sending Stocks Lower.   The NASDAQ continues to trade lower due to the US confirming the latest tariffs will be on all countries. In addition to this, bearish volatility also is largely due to the higher inflation data from Friday. The NASDAQ declines to its lowest price since September 11th 2024. Core PCE Price Index - Inflation Increases Again! The PCE Price Index read 2.5% aligning with expert forecasts not triggering any alarm bells. However, the Core PCE Price Index rose from 0.3% to 0.4% MoM and from 2.7% to 2.8% YoY, signalling growing inflationary pressure. This increases the likelihood that the Federal Reserve will maintain elevated interest rates for an extended period. The NASDAQ fell 2.60% due to the higher inflation reading which is known to pressure the stock market due to pressure on consumer demand and a more hawkish Federal Reserve. Boston Fed President Susan Collins recently commented that tariffs could drive up inflation, though the long-term impact remains uncertain. She told journalists that a short-term spike is the most probable outcome but believes the current pause in monetary policy adjustments is appropriate given the prevailing uncertainties. Although, certain investment banks such as JP Morgan actually believe the Federal Reserve will be forced into cutting rates. This is due to expectations that the economy will struggle under the new trade policy. For example, JP Morgan expects the Federal Reserve to delay rate cuts but will quickly cut towards the end of 2025. Market Risk Appetite Takes a Hit! A big factor for the day is the drop in the risk appetite of investors. This can be seen from the VIX which is up almost 6%, Gold which is trading 1.30% higher and the Japanese Yen which is the day’s best performing currency. Most safe haven assets, bar the US Dollar, increase in value. It is also worth noting that all indices are decreasing in value during this morning's Asian session with the Nikkei225 and NASDAQ witnessing the strongest decline. Previously the stock market rose in value as investors heard rumours that tariffs would only be on certain countries. This bullish swing occurred between March 14th and 25th. Over the weekend, President Donald Trump indicated that the upcoming tariffs would apply to all countries, not just those with the largest trade imbalances with the US. NASDAQ - Technical Analysis In terms of technical analysis, the NASDAQ continues to obtain indications that sellers control the price action. The price opens on a bearish price gap measuring 0.30% and trades below all Moving Averages on all timeframes. The NASDAQ also trades below the VWAP and almost 100% of the most influential components (stocks) are declining in value.     The next significant support level is at $18,313, and the resistance level stands at $20,367.95. Key Takeaway Points: NASDAQ falls to its lowest since September 2024 as the US confirms tariffs on all countries, adding to inflation concerns. Core PCE inflation rises to 0.4% MoM and 2.8% YoY, increasing the likelihood of prolonged high interest rates. Investor risk appetite drops as VIX jumps 6%, gold gains 1.3%, and safe-haven assets outperform. NASDAQ shows strong bearish momentum, trading below key technical levels with support at $18,313 and resistance at $20,367.95. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • PM Philip Morris stock, top of range breakout at https://stockconsultant.com/?PM
    • EXC Exelon stock, nice range breakout at https://stockconsultant.com/?EXC
    • UTZ Utz Brands stock, watch for a bottom breakout at https://stockconsultant.com/?UTZ
    • FL Foot Locker stock, nice breakdown follow through at https://stockconsultant.com/?FL
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.