Has anyone ever built an Ord Volume Indicator for MT4 forex?
Preliminary research works are:
1. Prototype sample 31, 'A System: Code', 'Квантовая торговая система';
2. AIS1 Advanced Indicator, 'AIS1 Advanced Indicator'.
Primary target is 100% automatic trading.
Preliminary research works are:
1. Prototype sample 31, 'A System: Code', 'Квантовая торговая система';
2. AIS1 Advanced Indicator, 'AIS1 Advanced Indicator'.
Primary target is 100% automatic trading.
Thanks AIS! I'll check it out.
Anyone else have any thoughts/ideas on this as well?
Thanks AIS! I'll check it out.
Anyone else have any thoughts/ideas on this as well?
I'm looking for an Ord Volume indicator for MT4 that will work on any timeframe. Anyone know where I can find one or if not, anyone willing to code it for me? It is described in a pdf document you can download off the web called "The Secret Science of Price and Volume" by Timothy Ord starting on page 35. It relates to stocksand we already know that tick volume in forex is not consolidated volume so it differs by broker but I still want to incorporate this in my testing never the less.
This is how it works (paraphrased quoting from the document):
Let's use nice round easy numbers to illustrate using daily bars. Say price trends upwards for four days on tick volume of 2000 per day (each bar volume is 2000), for a total of 8000. The 4th bar was the highest high of the swing and had volume of 2000. It then declines for three days on volume of 2,000 (the highest high bar), 3,000, and 3,000 again, for a total of 8,000. Note that the highest high bar has a volume of 2000 and will be used for calculations twice; included in total volume on the swing up and again included for total volume on the swing down.
Just based on this simple arithmetic, it would appear that the upward energy or force was equal to the downward energy. This is not, however, the correct way to measure force in a leg. The correct way to measure the force in a leg is by using average daily volume . This will give you the correct reading in a rally leg or a decline leg. In this example, average daily volume on the rally is 2,000 (4 bars x 2000 volume each bar = 8000 divided by 4 = 2000). The average daily volume on the decline is 2,667 (the swing High bar 2000 + second lower down bar 3000 and third down bar of 3000 = 8000 divided by 3 = 2667). This shows that the down leg had 667 more volume or 33 percent more force (energy) to the downside.
Ideally, I would like the indicator to show me on my charts the total average daily volume for the swing leg up at the top of the highest high bar and show me the total average daily volume for the swing leg down under the lowest low bar. If it is necessary to have it paint and anchor on each succeeding bar up or down, that's ok but the highest high and lowest low of the swing bars is what I am most interested in. A non-repainting Gann Zig Zag indicator (which I already have) may be necessary to identify the swing turns or maybe calculate the volume based on using iCustom for Index0 of the Gann Zigzag, and then place object texts and Comment fields.
Anyone know where to find something like this for forex MT4 platform or willing to code it? Just throwing it out there to see. Thanks!
Hi Jon
check ( https://www.forexfactory.com/showthread.php?t=231844 )
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
I'm looking for an Ord Volume indicator for MT4 that will work on any timeframe. Anyone know where I can find one or if not, anyone willing to code it for me? It is described in a pdf document you can download off the web called "The Secret Science of Price and Volume" by Timothy Ord starting on page 35. It relates to stocks and we already know that tick volume in forex is not consolidated volume so it differs by broker but I still want to incorporate this in my testing never the less.
This is how it works (paraphrased quoting from the document):
Let's use nice round easy numbers to illustrate using daily bars. Say price trends upwards for four days on tick volume of 2000 per day (each bar volume is 2000), for a total of 8000. The 4th bar was the highest high of the swing and had volume of 2000. It then declines for three days on volume of 2,000 (the highest high bar), 3,000, and 3,000 again, for a total of 8,000. Note that the highest high bar has a volume of 2000 and will be used for calculations twice; included in total volume on the swing up and again included for total volume on the swing down.
Just based on this simple arithmetic, it would appear that the upward energy or force was equal to the downward energy. This is not, however, the correct way to measure force in a leg. The correct way to measure the force in a leg is by using average daily volume . This will give you the correct reading in a rally leg or a decline leg. In this example, average daily volume on the rally is 2,000 (4 bars x 2000 volume each bar = 8000 divided by 4 = 2000). The average daily volume on the decline is 2,667 (the swing High bar 2000 + second lower down bar 3000 and third down bar of 3000 = 8000 divided by 3 = 2667). This shows that the down leg had 667 more volume or 33 percent more force (energy) to the downside.
Ideally, I would like the indicator to show me on my charts the total average daily volume for the swing leg up at the top of the highest high bar and show me the total average daily volume for the swing leg down under the lowest low bar. If it is necessary to have it paint and anchor on each succeeding bar up or down, that's ok but the highest high and lowest low of the swing bars is what I am most interested in. A non-repainting Gann Zig Zag indicator (which I already have) may be necessary to identify the swing turns or maybe calculate the volume based on using iCustom for Index0 of the Gann Zigzag, and then place object texts and Comment fields.
Anyone know where to find something like this for forex MT4 platform or willing to code it? Just throwing it out there to see. Thanks!