Discussion of article "Indicator for Spindles Charting"

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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).

Fig. 1. Comparison of Japanese candlestick and spindle

Author: Dmitriy Zabudskiy

 

1. The article is interesting.

2. The "market profile" link at the beginning of the article doesn't work.

3. The visualisation of the method is poorly readable from the screen with a large number of "spindles".

Thanks!

 
Yury Kirillov:

1. The article is interesting.

2. The "market profile" link at the beginning of the article doesn't work.

3. The visualisation of the method is poorly readable from the screen with a large number of "spindles".

Thanks!

Thanks for the comment. Just checked the link, it works for me, it's weird, but thanks anyway. At the expense of visualisation at a large number, it is not to argue, it is a kind of lack of graphics, and implementation in pictures. This is so to say the beginning, further I think the theme will be developed in a positive direction, but not soon.
 
Hi, the indicator is not working on mt5
 
mbsardar:
Hi, the indicator is not working on mt5
Hi! Indicator give error or? You placed folder with images, in true place?
 
Hi there Request for a contact information! Or add my QQ719039580 I'm sorry I know it's rude but you see my comment give me a reply and I don't know when I can see it Thank you I really want to study this indicator I hope the teacher can guide it! I'm really looking forward to studying this indicator and hope you can guide me.
 
I'd like to test the indicator and EA but it doesn't compile on mt5 version 1375.
 
Parlo:
I would like to test the indicator and EA but it does not compile on mt5 version 1375.
Hi. An output error during compilation?
 
Dmitriy Zabudskiy:
Thanks for the comment. Just checked the link, it works for me, it's strange, but thanks anyway. At the expense of visualisation at a large number, it is not to argue, it is a kind of lack of graphics, and implementation in pictures. This is so to say the beginning, further I think the theme will be developed in a positive direction, but not soon.
The theme is stalled or still got development?
 
Alexandr Saprykin:
Is the topic dead or has it developed?
I don't work on it, I don't have free time. It is canned, you could say.
 
Dmitriy Zabudskiy:
I don't do it, I don't have any free time. You could say canned.
It's a real shame
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