Discussion of article "Indicator for Spindles Charting"
Hi, the indicator is not working on mt5
Hi! Indicator give error or? You placed folder with images, in true place?
sorry to knock this dead thread again,but where can get more info on the strategy & how it predicts market entry? searched the whole internet but could get much info on "spindle charting" & "how to trade a spindle-chart"
sorry to knock this dead thread again,but where can get more info on the strategy & how it predicts market entry? searched the whole internet but could get much info on "spindle charting" & "how to trade a spindle-chart"
This topic is very new, and there is almost no information on the Internet.
To me the information came from the developer, just from his lips was given to me the site http://www.ncm.lv/. (but even there is not much information, but there are contacts of the developer)
The article was written for discussion. And the possible further development of this schedule and strategy.
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New article Indicator for Spindles Charting has been published:
The article regards spindle chart plotting and its usage in trading strategies and experts. First let's discuss the chart's appearance, plotting and connection with japanese candlestick chart. Next we analyze the indicator's implementation in the source code in the MQL5 language. Let's test the expert based on indicator and formulate the trading strategy.
Spindle chart belongs to so-called Volume-by-Price charts. Volume-by-Price is a chart that is plotted using a symbol's activity data in the form of volume (generally tick volume)and one or several prices. Something like market profile comes out. Internet browsing didn't yield much useful information, it was mostly about the chart's composing aspects. Thus we can say that the chart emerged relatively recently and therefore deserves attention.
I received the information about the chart from one of the readers, who asked to create such an indicator. Considering the lack of free time and the implementation complexity, the develpement of the indicator lingered.
Spindle chart looks like japanese candlestick chart, open and close prices as well as minimums and maximums are present in it. However in addition to that the Volume Weighted Moving Average (VWMA) and the Volume Ratio (VR) are used, thereby forming a shape which looks like a spindle (Fig. 1).
Author: Dmitriy Zabudskiy