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Here is a macd heatmap too : macd_heatmap.mq4
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Colors are as following :mntiwana
I don't understand the "multi dimensional dashboard" part. Wold you clarify it a bit, please?Dearest MLADEN
thanks for considering,there are a lot of options and ways but it looks like a big and complicated project comparing to code a indicator.if you like and recommend,a separate thread can be used for this purpose for to get different views and ideas from users and participants whom interested.....one most important factor that usually ignored and over looked in a lot of cases,when a value is given in numbers or in percentage (55 or 55%) nobody knows if this values is increasing (for example 20 to 55 and on ward) or decreasing (from 95 to 55).in picture 2 some body find solution by showing previous value,it is a crucial feature.
as for an ideal dash board,values might be taken from few different sources (ma,cci,wpr,stoch,macd,rsi,mom/velocity,mfi,adx,smi,dmi/x,rmi or what else you like and think suitable for) and get a final result from all in one unit value,on these values instruments should be qualify for strongest and weakest.....is not too much .
here are few pictures among dozens plus.....if not consider as clone.:)
regards
continue....
Dearest MLADEN
thanks for considering,there are a lot of options and ways but it looks like a big and complicated project comparing to code a indicator.if you like and recommend,a separate thread can be used for this purpose for to get different views and ideas from users and participants whom interested.....one most important factor that usually ignored and over looked in a lot of cases,when a value is given in numbers or in percentage (55 or 55%) nobody knows if this values is increasing (for example 20 to 55 and on ward) or decreasing (from 95 to 55).in picture 2 some body find solution by showing previous value,it is a crucial feature.
as for an ideal dash board,values might be taken from few different sources (ma,cci,wpr,stoch,macd,rsi,mom/velocity,mfi,adx,smi,dmi/x,rmi or what else you like and think suitable for) and get a final result from all in one unit value,on these values instruments should be qualify for strongest and weakest.....is not too much .
here are few pictures among dozens plus.....if not consider as clone.:)
regards
mntiwana
You have touched what is the biggest problem of "semaphore" like stuff (indicators, panels, baskets, whatever name we give it).
One can not decide based on one singe state of some indicator. That is meaningless. Like seeing in the fall that it is 20 degrees centigrade and planting vegetable based on that 20 degrees centigrade information only and disregarding completely where it comes from. "Heatmap" is a bit better (not too much, but better) simply because it gives you a multi time frame quick picture, and then, combining those multiple time frame information, we can get something like an overall picture and decide based on a time frame of our choice
So, to make it short, as long as I do not come up with some acceptable way of having a clear picture where the state of something comes from, I will not jump into "basketing" - if nothing else, for one simple reason : after all these years I do know that baskets (and I mean real baskets, not a 2 state jump into market hype) are working only in ranging markets (as it is in the last 6-7 months) and are failing miserably in times of trend. That would be too much responsibility to hush down that fact simply because the chart looks so nice with 1000s of colored buttons
mntiwana
You have touched what is the biggest problem of "semaphore" like stuff (indicators, panels, baskets, whatever name we give it).
One can not decide based on one singe state of some indicator. That is meaningless. Like seeing in the fall that it is 20 degrees centigrade and planting vegetable based on that 20 degrees centigrade information only and disregarding completely where it comes from. "Heatmap" is a bit better (not too much, but better) simply because it gives you a multi time frame quick picture, and then, combining those multiple time frame information, we can get something like an overall picture and decide based on a time frame of our choice
So, to make it short, as long as I do not come up with some acceptable way of having a clear picture where the state of something comes from, I will not jump into "basketing" - if nothing else, for one simple reason : after all these years I do know that baskets (and I mean real baskets, not a 2 state jump into market hype) are working only in ranging markets (as it is in the last 6-7 months) and are failing miserably in times of trend. That would be too much responsibility to hush down that fact simply because the chart looks so nice with 1000s of colored buttonsDearest MLADEN,
thanks for detailed and explained answer,as you have a vast experience of things and an eagle eyes on every aspect,no doubts you always gave us reasonable and productive advice, without wasting time on useless things,of course we are not interested in colored buttons or some thing like wise but aim and target is important.
regards
Using price distance from a moving average for each currency pair and then averaging those individual pair MA distances to arrive at derived MA distance for each currency group (8 groups) is a technique followed by a few. Each group has 7 pairs.
This simple technique is used by some coders to determine the strength and weakness of the pairs. The pairs having greatest distance above MA is considered strong while weakest shows greatest distance below the MA.
The pairs keep jumping depending upon retracements and pullbacks. It helps in scalping trade.
Major advantage is that impulsive trading is not done. A threshhold of a group's total derived MA of the group's 7 pair is considered whether to trade or not. If USD group is strong and JPY group is weak, then choose any strong USD currency pair and combine with any weaker JPY currency pair.
So please develop a dashboard or heatmap based only on price distance from a moving average. No need to make complicate by involving MA cross overs. Price and single MA is good enough. It serves the purpose of benefitting from
retracements and pullbacks.
You can have heatmap divided into one small panel for eight groups and another broad panel for 28 pairs . Let the heatmap be imposed on a blank price chart. It has to be MTf from all TFs ( choice left to user). Prices keep falling behind or going above MAs and you can watch them happening.
Dashboards give all the data while heatmaps provide you an indication. You may go for a dashboard after getting satisfied with a heatmap.
You will love having created an indicator which doesn't depend on semaphors and purely on moving averages distance from price. Since you are a MA genius, I am sure you will do it well.
mntiwana
You have touched what is the biggest problem of "semaphore" like stuff (indicators, panels, baskets, whatever name we give it).
One can not decide based on one singe state of some indicator. That is meaningless. Like seeing in the fall that it is 20 degrees centigrade and planting vegetable based on that 20 degrees centigrade information only and disregarding completely where it comes from. "Heatmap" is a bit better (not too much, but better) simply because it gives you a multi time frame quick picture, and then, combining those multiple time frame information, we can get something like an overall picture and decide based on a time frame of our choice
So, to make it short, as long as I do not come up with some acceptable way of having a clear picture where the state of something comes from, I will not jump into "basketing" - if nothing else, for one simple reason : after all these years I do know that baskets (and I mean real baskets, not a 2 state jump into market hype) are working only in ranging markets (as it is in the last 6-7 months) and are failing miserably in times of trend. That would be too much responsibility to hush down that fact simply because the chart looks so nice with 1000s of colored buttonsUsing price distance from a moving average for each currency pair and then averaging those individual pair MA distances to arrive at derived MA distance for each currency group (8 groups) is a technique followed by a few. Each group has 7 pairs.
This simple technique is used by some coders to determine the strength and weakness of the pairs. The pairs having greatest distance above MA is considered strong while weakest shows greatest distance below the MA.
The pairs keep jumping depending upon retracements and pullbacks. It helps in scalping trade.
Major advantage is that impulsive trading is not done. A threshhold of a group's total derived MA of the group's 7 pair is considered whether to trade or not. If USD group is strong and JPY group is weak, then choose any strong USD currency pair and combine with any weaker JPY currency pair.
So please develop a dashboard or heatmap based only on price distance from a moving average. No need to make complicate by involving MA cross overs. Price and single MA is good enough. It serves the purpose of benefitting from
retracements and pullbacks.
You can have heatmap divided into one small panel for eight groups and another broad panel for 28 pairs . Let the heatmap be imposed on a blank price chart. It has to be MTf from all TFs ( choice left to user). Prices keep falling behind or going above MAs and you can watch them happening.
Dashboards give all the data while heatmaps provide you an indication. You may go for a dashboard after getting satisfied with a heatmap.
You will love having created an indicator which doesn't depend on semaphors and purely on moving averages distance from price. Since you are a MA genius, I am sure you will do it well.
You can avoid semaphores or signals of any kind. Just print MA distance in the eight broad panels and 28 sub-panels. Green color for strong group (total of derived average of 7 pairs) and strong pairs (which are above MA) and Red color for weaker group (total of derived average of 7 pairs) and weaker pairs (which are below MA)
Using price distance from a moving average for each currency pair and then averaging those individual pair MA distances to arrive at derived MA distance for each currency group (8 groups) is a technique followed by a few. Each group has 7 pairs.
This simple technique is used by some coders to determine the strength and weakness of the pairs. The pairs having greatest distance above MA is considered strong while weakest shows greatest distance below the MA.
The pairs keep jumping depending upon retracements and pullbacks. It helps in scalping trade.
Major advantage is that impulsive trading is not done. A threshhold of a group's total derived MA of the group's 7 pair is considered whether to trade or not. If USD group is strong and JPY group is weak, then choose any strong USD currency pair and combine with any weaker JPY currency pair.
So please develop a dashboard or heatmap based only on price distance from a moving average. No need to make complicate by involving MA cross overs. Price and single MA is good enough. It serves the purpose of benefitting from
retracements and pullbacks.
You can have heatmap divided into one small panel for eight groups and another broad panel for 28 pairs . Let the heatmap be imposed on a blank price chart. It has to be MTf from all TFs ( choice left to user). Prices keep falling behind or going above MAs and you can watch them happening.
Dashboards give all the data while heatmaps provide you an indication. You may go for a dashboard after getting satisfied with a heatmap.
You will love having created an indicator which doesn't depend on semaphors and purely on moving averages distance from price. Since you are a MA genius, I am sure you will do it well.
All that is assuming that all symbols are having same (or at least similar) usual ranges and that those ranges are comparable. Unfortunately that is not so, and without normalizing those distances, we are ending comparing pears and apples. So, without a normalization, heatmap based on "distance" alone would be rather misleading
Using price distance from a moving average for each currency pair ................
How about exploring the idea of price distance in pips or percent( pi ?) from a moving average ?
Just one example : compare EURCHF and EURUSD. Similar values but completely different ranges. And while a distance of 5 pips means nothing on EURUSD, on EURCHF it is as close to earthquake as it can be. On the other hand, if we compare the distance to average ranges, then we can have constant alert on EURCHF while we will miss the changes on EURUSD