Now we have an end date. And also every line can be turned on/off
And I also attach how a VWAP can be used for quick profits.
I can't download the 2nd version. It says "Attachments Pending Approval". Is this noraml here?
It will be available soon .... wait
So this is my second indicator. And this indicator is created to be able to follow Jperl's Market Statistics thread on Traders Laboratory.
As I already talked about in my MIDAS post these are my first indicators and I am just learning MQL. So feel free to send me comments, bugs,anything...
I might also post skewness indicator in a later post.
Thanks for trying..
Thank you akift, great works....
btw, could you put an option to show or not show the histogram.. I believe we just need PVP, VWAP and Standard Deviation Lines....
Just try to put the the indicator start frow the lowest/highest waves on big TF (H4 above).. damn very interesting...
You are good man...
You're welcome.You are right, histogram is mostly for visualization purposes. I think you didnt download the v2 yet. With v2 now all lines can be turned on/off.
And for not making histogram totally useless, you can check the histogram to find out the second longest bar(which is a candidate for the PVP jump).
Yes exactly. Put a vwap on to a turning point and it will lead you the possible reflection points.
I am thinking of automatically finding turning points(like fractals)[maybe on higher time frames like you suggested] and put a VWAP on them automatically rather than manually...How does that sound?
Sounds very interesting. How about using zigzag to show us the High/Lows. I suggest using the last n (5 would be nice) high/lows. And drawing seperate VWAPs for each one.
By the way, I still can't download the V2.
Thanks for the indicator, great work,also looking forward to see your skewness indicator.
I think it is a good programming effort
but we must see some charts, (like 2 hours apart) that the curve is able to PREDICT -- and show us the best entry point
beside, currency is unlike the stock market -- which is a rubber balloon market
even there is oversold, undersold, but the volume data is an indirect indicator of tick movement maganitude
and money just pour from left hand, to right hand and then back every day
so , not sure that the market statistics will work, but it is a good try , in programming
-- maybe your vertical chart drawing skill will led you to combine few cool indicator in the FUTURE
This is very similar to market profile
The market statistics indicator is very similar to what is shown by the market profile indicator (except that your indicator shows more lines where there are other prices with high volumes as well as the PVP).
I have attached a document for you to see the very similar concepts and although market profile was devised for stocks and commodities like market statistics was, market profile has and is used by a vast number of traders who have crossed over to forex.
I have also attached a market profile indicator for you to see how similar it matches with your visuals. I have made a very minor adjustment to the original code so that the POC is in front rather than behind.
Ok for skewness Jperl suggested to use Karl Pearson's simpler calculations
which you can check from this Wikipedia page.
Copy-pasting from wikipedia:
So our skew indicator will be simply
It is that simple.
I couldnt finish the threads yet(still reading and working and writing indicators at the same time) so I am not exactly sure about how should we read about the real values that we will get from these calculations.
I remember Jperl was saying stay away from trading if PVP is too close to VWAP. Maybe we can find a number on this skewness indicator saying below that value do not enter a trade.
As I said earlier...Dont know yet..Still reading and learning..
Thanks for trying... I will post skewness indicator this evening also.
Thank you Limstylz,
I know this article and read it already. I know the indicator also. I looked at its code before programming Market Statistics indicator but DrShumiloff's VolumesHist2.3 indicator made a better effect on me.
Again thanks for reminding. For differences as you already know this is just volume weighted. So is it reasonable to volume weight in forex? We will see...
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