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Equal ""VALUE BARS""

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bzasri
7
bzasri 2011.02.08 18:28 

Hi everybody,


  I have a thought that if we can  plot equal value bars the trend will be more accurate.But MT is not equipped with that facility.

I would like to explain more.Suppose If we choose  BARS that are worth say $5000 and we plot a 5 bar moving average ,this average will be more useful than

5 period moving average.Think of it.

Thank you

RAO

Jacob Funk
92
Jacob Funk 2011.02.08 19:51  

That's an interesting idea, but I'm fairly certain that indicators are set up to plot along with the "time" associated with ticks. You could definitely write one that does this, but I believe you'd end up with "fat" bars during periods where the market doesn't move much (unless I'm misinterpreting the question)

bzasri
7
bzasri 2011.02.09 04:00  
Shark:

That's an interesting idea, but I'm fairly certain that indicators are set up to plot along with the "time" associated with ticks. You could definitely write one that does this, but I believe you'd end up with "fat" bars during periods where the market doesn't move much (unless I'm misinterpreting the question)


There is no question of fat bar.All the bars look alike.I would like to further explain.Suppose there is contract trading around $1 and $2.

And in one tick there maybe 2 contracts traded @ $1.25 and in another tick 5 contracts traded @ $1.Then the total bar value is 2*1.25+5*1 =7.5.

Like that we go on adding up to the value which we chosen ($5000).And we take the price of the bar as 7.5/7 =1.0714. I feel that it will give more

realistic price.Hope I am clear.
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