Market Statistics (Volume Histogram, VWAP with SD bands) - page 17

Hi erich it all depend on you.

Since you want to use it on 5 min. it is only logical to use 1 min. (or 5 min) for calculation.

Start calculation shows how far back do you want to go? If you want to the indicator start 2 days back then select 2880 min.

Sliding window means what is the length of the calculations. So if you want to see daily statistics then select 1440 for this.

Pls try to reread my post and inspect the attached pictures. It should be clear after you experiment some settings.

erich:
Thank You Akift,

Would You tell us how to programm your new indicator for 5min chart.

Calculate using:?

Start calculating...: ?

Sliding window...:?

Thank You,

Erich

first, i want to thank akif for his work. these indicators are amazing .

alright, now back to the topic. i have been playing with last version trying to find the best settings, and here are my advices:

1. for last 240 minutes, use

*sliding-window-width-in-days = 0.16666667

*start-calculating-back-from-minutes = 1440

*calculate-using = 5

2. for last 1440 minutes (or last 24 hrs), use

*sliding-window-width-in-days = 1.0

*start-calculating-back-from-minutes = 4320

*calculate-using = 5 or 15 (both are reliable, but depends on your cpu)

3. for last 5 days, use

*sliding-window-width-in-days = 5.0

*start-calculating-back-from-minutes = 7200

*calculate-using = 30

here are 2 examples with vwap; pvp has been turned off.

Files:

market statistics

Hi everyone,

For 5 min chart I use :

sliding window : 0.2

start calculating: 1440

calculate using: 5

Erich

reinvent the wheel

Hi everybody after reading an answer that Jperl has given to a user in TL forum, I just understood that by Market Statistics 6.2 we have just reinvented the (wheel) "Volume Weighted Moving Average"

yes we still do have extras like PVP and SD bands but VWAP in MS6.2 is just VWMA with the given period. So no big invention, sorry about that:)

For VWMA you can use Igorad's AllAverages indicator which you can find in this forum.

Akif,

akift:
Actually this indicator is developed based on thread series of Jperl's at Traders Laboratory. Here is the link to the series:

I posted these indicators also there but I believe most of the people at Traders Laboratory dont use Metatrader. And actually those threads were not aimed for Forex. But i think same idea can also be used for Forex. I am also still trying the concepts. But to be able to try them you need to have the tools first. So I created these to follow those threads.

Basic idea is PVP(Peak Volume Price) shows the price with the highest volume beginning from startDate. VWAP shows the average of the volume histogram. When VWAP is below PVP it means more volume has been traded below PVP so skew of the market is downside. Thats why you can short from VWAP to 1SD. And also at with a little bit more risk you can short from 1sd to 2sd also. PVP is your stop loss.For longs just reverse the above scenario. Wait for VWAP is above PVP.

These are the most simple setups. For other details you can read the threads. As I said earlier these are not given as forex strategy but I believe statistics is statistics independent of market.

Thanks for interest.

Akif,

we are very visual people, does it mean aqua blue line -- above the red line, we should SELL , what is the meaning of the vertical bell shape statistical chart -- on the LEFT

thanks --\

...

xx3xxx:
april , they trade that may, braveheart rsi -- I might chicken out

Profoundly intriguing comment...cudos

not at all in vain

I just want to say this to prevent a possible misunderstanding: only the VWAP in MSv6.2 is VWMA. Other VWAPs are still incremental. And thats why while the all of the others have an Volume histogram, v6.2 didnt have one.

When I have time I will check more in depth how we can use this information.

Akif,

market statistics 7.0

Since I realized MSv6.2 is just VWMA, I created a new indicator using some code snippets from Igorad's code. And I added VW-SD bands again. So now we have MSv7.0 which does the same thing MSv6.2 does but does its job much much faster.

Enjoy.

Akif,

Files:

akift:
Since I realized MSv6.2 is just VWMA, I created a new indicator using some code snippets from Igorad's code. And I added VW-SD bands again. So now we have MSv7.0 which does the same thing MSv6.2 does but does its job much much faster.

Enjoy.

Akif,

thanks so much akift

an explanation

Even if the most users know there might be some new users around so it is better to give explanation for AppliedPrice:

AppliedPrice = 0 - Close

AppliedPrice = 1 - Open

AppliedPrice = 2 - High

AppliedPrice = 3 - Low

AppliedPrice = 4 - Median Price = (High+Low)/2

AppliedPrice = 5 - Typical Price = (High+Low+Close)/3

AppliedPrice = 6 - Weighted Close = (High+Low+Close*2)/4

Akif,

Reason: