Bid/Ask Volume Indicator
Hi all, I am new to this forum and am looking for an indicator showing histogram with top side (above zero line) showing volume of ask ticks (blue) and bottom showing volume of bid ticks (red) for each candle.
Does anyone have this or could someone write it?
Akift: Volume histogram in the left not showing in my charts
Thank you for all the work you have done with this indicator and in this thread. The link to the Traders Laboratory was helpful. I am trying the version 7 in post 1, but the histogram on the left side of the chart is not showing. Only the seven lines with the volume weighted average in the middle. Could you please give me some guidance?
I have to admit that I am really not good in statistics. I believe this thread has been the maximum state what I know about statistics. So I am not sure if I can give you a good answer. But I agree with your post. Yes we are making an assumption that the distribution characteristics will hold for the future. But you say in your post they can be "stationary over short periods". But what is short periods? There a lot of people looking at only daily charts and 1 daily bar is equal to 288 5min bars.So 1 bar in daily timeframe is the shortest you can get, yet you can get a very nice daily distribution in 5 min timeframe with 288 bars. And volume weighting, is it useful or not especially with tick volumes? It is debatable. I am sorry that my insight is limited on this maybe jperl has better answers for you.
because of your bell shape curve, I tried to seek any statistical function in MQ4, I only found trigonometric one, not even one close to statistical function like SD, median etc
@akif and others
Is there a market profile indicator where I can choose a date to start and end and which get combined to one profile (greater than one day)? My idea is to cut out a specific move/wave and look for possible turning point in that retracement. Or just to find the PoC of a consolidation which lasted several days.
I've only found this indicator, which combines X bars from the current date.
Thanks for your help!
Marker statistics V6
I think your indi: v6 is much better than v7.
I did research and on 1 MIN . I use :
1. Calculate using: 1
2. Start calculating: 200
3. sliding window: 0.005
That will give me the most precise signals on 1 MIN.
Did someone has better settings on 1 MIN time frame?
Sliding window versions of Market Statistics doesnt have an histogram because they are not calculating incrementally. Previous versions are calculating those lines incrementally(adding up new data) so we can plot an histogram.
v6 and v7 should plot the same thing. But you have to find the appropriate parameters. It is a little bit awkward in v6 because we give the sliding window length as the multiplier of a day's data. So in your case 0.005*1440=7.2 periods. And I have to say this is too fast for my taste.
in mql language.
If I understood you correctly you can use MSv3 for that purpose.
And you can use PVP instead of POC. Please see attached picture.
isn't the MSv3 indicator based on volume? At least I have somewhat different PoC's than with a common market profile indicator which is based on price and time (TPO).
Taking price and time makes more sense to me as the provided volume in the forex retail market is not reliable at all.
Thanks for your help.