Got an excellent idea....Need a serious programmer
[...] It works on some custom made indicators of volume [...]
i think although volume in mt4 doesnt reflect the amount of lots being traded at that time, it does have a place in analytics in that it reflects the rapidity of price changes, obviously a high volume bar would mean the price was changing more frequently than a low volume, this may mean to expect higher volitility ? This can be seen by the length of the price bars are usually much larger during high volume periods vs those short bars during low volume periods
[...] this may mean to expect higher volitility ? This can be seen by the length of the price bars are usually much larger during high volume periods vs those short bars during low volume periods
I have done comparisons in the past between actual depth of market characteristics (other platforms) and MT4 volume and they very often have nothing in common. Furthermore, there seems to be huge differences between brokers when it comes to Volume and even differences between clients connected to the same account and same server. So as a signal, Volume is broker-dependent and extremely noisy anyway.
For your example I would just use the length of the bar as a measure...
But is it not the case that mt4 server has to send a tick every time the price changes by 1 pip ? So in other words if the price goes up down up down up down by 1 pip each time, mt4 server would send 6 ticks, and the volume would increase by 6 even though the price is covering the same 2 pips ? This is why I thought there might be some kind of anayctical system could be applied to the volume, I thought it would reflect the frequency of price change therefore a short bar with high volume might tell us something different to a large bar with high volume, or vice versa .... to be honest I have never investigated or tested any of this it was just some thoughts I had while reading this thread ...
But is it not the case that mt4 server has to send a tick every time the price changes by 1 pip ? [...]
Ahh i see where your comming from now, I did not know ticks could be generated by something other than an actual price change...
I am extremely doubtful of anyone claiming that Volume in MT4 can be used as a meaningful measure of anything. It's affected by so many factors that have nothing to do with the market... Discussed here -> https://www.mql5.com/en/forum/126023.
Dear gordon,
as you know trading is all about odds .
1.Its 80% money management and volume can be used to spot the movement in the market rather than predicting the direction in the market,for that even a crude volume will do...
2.the advantage in forex is that, unlike In normal betting where you have an exact ratio between winning odds and the returns, where as in forex there is no ratio between the stake and the returns,if the market moves in a big way the returns can be 100-1000% say for example. So movement in the market is important and to spot that volume is important
3. You should have a system which capitalises the movement rather than direction. Say if the market is gonna go up or down then we can define a range of say 10-15 points and then use a 2-3 level martingale each time the market touches on either side of the set limit,Since the movement is gonna be big the winning compared to stake will be more than 100-300 % .
All these combined with an excellent money management can make a good system.
I think now you got what i mean by volume and volatility.....And one more thing Never try to waste time predicting the direction in the market .
So i don't mind doing a real time trade or 2, in your presence to convince a serious programmer to benefit both of us.
Good Luck
[...]
Good Luck
> ...convince a serious programmer...
By showing a trading history of manual trades and all the rules used...
I don't code (just) 'good ideas' anymore!
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Hi
I really have some cool stuff which has a success rate of more than 80%.(Not joking at all).It works on some custom made indicators of volume and some money management stuff and volatility. But the problem is that its too tedious to look into the charts and spot it,because the entry points are so precise that even if you miss a candle the chance is gone.And most of the time I miss the signals and i am going nuts not being able to trade despite having a very good indicator and strategy.And I am sure if we can make an EA out of it then making money will be supercool. nishadfx@gmail.com is my id...Please revert if interested and I need to talk to you in person before we take it up further...Thanks
Nishad