Probability Maps in MT4

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Hello,

I just want to know if there is a way to produce something like that

in MT4.

Thank you

 
Vetkasta:
Hello,

I just want to know if there is a way to produce something like that

in MT4.

Thank you

I saw many software programes that producing that kind of prediction of the price movement. And I saw some charts in some brokers in MT4. Probably there is indicator for that but I've never met it.

 

FibFan?

perhaps

 

Very nice, thanks

What inputs for one hour charts?

original settings work v well for 4hr.

Gordon

 

elwave maps it a little different.

 

Requires and external DLL

Vetkasta

Based on the metatrader API, the best way to accomplish what you are looking for is by writing a 'C' type external DLL that will write to the metatrader chart screen. This is not something a novice coder can do.

 

The screenshot looks a lot like the Tradestation ProbabilityMap.

If you have Tradestation you can access or modify the Probability Density Logic that it uses via Easylanguage code.

I'm not familiar with the Prob Map capabilities of the latest version of Tradestation, but earlier versions came with "Normal Range" and "Normal Distribution" Prob Maps built in. These maps assume the data follows a "Normal" distribution. ...and markets do not have Normal distributions.

One author wrote that the Probability function in these "needs to be replaced w/ one that reflects actual market activity" which could be a daunting task for anyone but an advanced programmer.

check these out for more info:

https://www.google.com/search?hl=en&lr=&safe=off&q=%22probability+map%22++volatilitylength&btnG=Search

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