Creating an indicator based on sentiment data- not price data

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Hello

 

I wish to add my own quant data to MT4/5. The data is sentiment data extracted from news in the form of numerical data. The data will be displayed as a chart in the same way as price data is displayed. I will then want to perform basic technical analysis on this data, such as moving averages and RSI etc That is stage one.

Stage two I would like to add little widgets to my MT4/5. So whilst I am trading EUR/USD a widget will jump up showing a pie chart of my data, or some other graphic. 

It has been suggested the best way to achieve this by creating an indicator?

 

Can anyone help?

Thanks

Andrew 

 
acuitytrading:

Hello

 

I wish to add my own quant data to MT4/5. The data is sentiment data extracted from news in the form of numerical data. The data will be displayed as a chart in the same way as price data is displayed. I will then want to perform basic technical analysis on this data, such as moving averages and RSI etc That is stage one.

Stage two I would like to add little widgets to my MT4/5. So whilst I am trading EUR/USD a widget will jump up showing a pie chart of my data, or some other graphic. 

It has been suggested the best way to achieve this by creating an indicator?

 

Can anyone help?

Thanks

Andrew 

If you want to code it yourself, we can help when you show what you have tried and tell us what's your problem.

Otherwise you can see in the jobs section.

 
angevoyageur:

If you want to code it yourself, we can help when you show what you have tried and tell us what's your problem.

Otherwise you can see in the jobs section.

Hello I don't really understand your reply?

 

I would want someone else to code it for me, but I also need to understand what is possible- so for example:

 

1. Should I be using an indicator as the best way to display my data?

2. Can the technical tools in MT4/5 be used to perform analysis on my indicator?

3. Can an indicator be permissioned to a whole broker if I decide to sell to a broker instead of individuals?

4. Can indicators show graphics/widgets ?

5. Can the indicator be used multiple times with different input data- ie EUR/USD and then FTSE?

6. Can I upload historical data, or will the Indicator call on my server for historical data? I have 5 years worth of data. 

7. Can people take my indicator and build EAs of the data? A desired outcome. 

 

Also just to underline my data is not to do with open positions on the market which is sometimes termed as sentiment data.

Thanks 

 
acuitytrading:

Hello I don't really understand your reply?

 

I would want someone else to code it for me, but I also need to understand what is possible- so for example:

 

1. Should I be using an indicator as the best way to display my data?

2. Can the technical tools in MT4/5 be used to perform analysis on my indicator?

3. Can an indicator be permissioned to a whole broker if I decide to sell to a broker instead of individuals?

4. Can indicators show graphics/widgets ?

5. Can the indicator be used multiple times with different input data- ie EUR/USD and then FTSE?

6. Can I upload historical data, or will the Indicator call on my server for historical data? I have 5 years worth of data. 

7. Can people take my indicator and build EAs of the data? A desired outcome. 

 

Also just to underline my data is not to do with open positions on the market which is sometimes termed as sentiment data.

Thanks 

1. Yes

2. Yes

3. ? I don't understand

4. Yes

5. Yes

6. No natively, but it's possible to program that.

7. Yes

 
acuitytrading:

Hello I don't really understand your reply? 

I would want someone else to code it for me, but I also need to understand what is possible- so for example:

It's not important what is possible or easy to do when you are drafting your requirement.  Your requirement is what you require,  if MT5 cannot do what you require then you can't have your Indicator work on MT5.

Try not to make the common mistake when drafting your requirement of considering how it will be implemented,  that is best left in the hands of the developer. 

 
ok thank you both for your replies.
 

and how would you extract the sentiment out of price action?

yes, MA and RSI, but how? 

 
graziani:

and how would you extract the sentiment out of price action?

yes, MA and RSI, but how? 

He doesn't . . .

acuitytrading:


 The data is sentiment data extracted from news in the form of numerical data. 

 

ok,

for the sake of discussion:

1) news can be interpreted in at least 3 ways. whatever it is, you can read it out after news from PA. so .... whats the idea?

2) when i was checking FOMC, i couldn't  interpret it consistently, meaning that once it followed one logic, and another time different one. anybody had the same problem?

 
Its fairly hard to get your head aorund at first, but imagine you go to work and you are able to read 5 artciles in your paper. But in that time perhaps 100,000 articles are published around the world on the topic you are interested in. My program readds all those artciles and turns it into numerical data. So for example on a scale of 1-100 how positive was that story, and then do that on all 100,000 artciles and you can get an impression on how positive the market is to any given topic. What you then find is that the market reacts to news, so if you are able to understand the broad consensus in the market towards any given target, you can then predict roughly where the market will go. This is just one example, there are many uses. Happy to discuss more if people are interested.
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