Are 'Slope' and the 'Angle on charts the same thing / quantity? - page 2

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FourX:

Hi JellyBean,

I agree that slope and angle are really just a different way of expressing the same thing. As you say, charts give us a visual representation that allows us to see and understand the implications of the data sets and what it means.

How confident are you that the EA is going to use the data set and not take the info from the chart instead ?

Hi FourX

Actually, I didn't say angle and slope represent the same thing - they don't. However, I've made my point and see that others don't mind the mathematical incorrectness. I do agree with Gordon that if you always use the same one you should not have any problems. IMHO slope should be used.

On the 'chart or data' question: The terminal receives price data from the server and that is what you access when you use variables/functions that refer to high, low, time, etc. The terminal also presents the same data on a chart by calculating where candles or bars should be drawn relative to the axes to represent it. If you scale the chart the pixels change, but the price values remain the same. Even if the EA did look at the chart for the data, it would just read the price values, which are unaffected by scale.

Cheers

Jellybean

 

If we do not lock the chart bewteen price and time, then we will be looking at all differnt candle bar per our montior resolution.

Locking can resolve this first issue above. However, does locking chart have any meaning for our trading ?

  • Firstly, all different symbols have differnet magniude and decimal points, etc.
  • Secondly, all different symbols have differnet magniude of movement per day. 
  • Thirldy, point or pip is not necessarily the standard unit matches with time unit like second or miniutes.

Hence, what we called 1 to 1 is not really 1 to 1.

Because of this, most of time, this angle concept is hard to be implemented in practice.

I found this from application of Gann's Fan. But many people using Gann's Fan is not even bothering about these facts.

Hence, they trade with a lot of subjectivity like people counting Elliott Wave labelling.

I think they should have a look at this technical thread before they go anywhere with this angle concpet in the financial market.

 
  1. Young Ho Seo: this technical thread before they go anywhere with this angle concpet in the financial market.
    Don't double post! You already had this thread open.
              General rules and best pratices of the Forum. - General - MQL5 programming forum

    1. There is no angle from 2 anchor points. An angle requires distance divided by distance; a unit-less number. A chart has price and time. What is the angle of going 30 miles in 45 minutes? Meaningless!

    2. You can get the slope from a trendline: m=ΔPrice÷ΔTime. Changing the axes scales changes the apparent angle, the slope is constant. Angle is meaningless.

    3. You can create an angled line using one point and setting the angle (Object Properties - Objects Constants - Standard Constants, Enumerations and Structures - MQL4 Reference.) The line is drawn that angle in pixels. Changing the axes scales does NOT change the angle (and thus is meaningless.)

    4. If you insist, take the two price/time coordinates, convert them to pixel coordinates and then to apparent angle with arctan.
                How to get the angle of a trendline and place a text object to it? - Trend Indicators - MQL4 programming forum - Page 2
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