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Region of the Joker

The indicator displays price areas with a similar level of dynamic market equilibrium and modal structure (Joker area of Sherh model).


Comment to the algorithm

Price ranges equidistant from the dynamic equilibrium level are equal to the standard deviation (with the appropriate factor) of the specified price fluctuation magnitude.

The value equal to the amount of bars (candles) used in the displaying an appropriate Joker area indirectly corresponds to a potential collapse (explosion, destruction) power of the price areas.


Comment to trading

If we assume that the influence of macro-economic data is too insignificant to be considered, leaving a Joker area by the price is always equally probable. Consequently, trading tactics and strategies claiming the efficiency of the support/resistance roll-back or breakout are false and detrimental to deposits. Collapse (explosion, destruction) of Joker areas always occurs at the levels of the dynamic market equilibrium.


Input Variables

_I - block header

  • minuend - maximum price in the range for calculating statistics
  • subtrahend - minimum price in the range for calculating statistics

_II - block header

  • displayLabelColumnPQ - Display price label and Joker area level frequency columns (yes/no)
  • ShowEquilibriumLevel - Display the dynamic equilibrium level
  • ShowMaxMinLevel - Display the maximum and minimum levels of the Joker areas
  • ShowCollapsLevel - Display the collapse level of the Joker areas (theoretical level of dynamic equilibrium)
  • ShowVectorCallPut - Show the Call and Put options buying vector

_III - block header

  • RiverbedOfPrices - Display the Riverbed of the Joker areas (price channel)
  • DisplayRiverbedRange - Display the price Riverbed areas filled with color, if the price Riverbed levels are displayed
  • colorRiverbedRangeOne - Color of the odd ranges in the structure of the price Riverbed
  • colorRiverbedRangeTwo - Color of the even ranges in the structure of the price Riverbed
  • colorRiverbedLevelOne - Color of the odd range levels in the structure of the price Riverbed
  • colorRiverbedLevelTwo - Color of the even range levels in the structure of the price Riverbed

_IV - block header

  • DisplayTheFirstRange - first Joker area display label (yes/no)
  • DisplayTheSecondRange - second Joker area display label (yes/no)
  • DisplayTheThirdRange - third Joker area display label (yes/no)
  • DisplayTheForthRange - fourth Joker area display label (yes/no)
  • DisplayTheFifthRange - fifth Joker area display label (yes/no)

_V - block header

  • theNumBarsCalculateTF - number of candles on the current timeframe for calculating the indicator
  • theNumBarsCalculateJoker - minimum amount of "candles" used to form price areas with a similar level of dynamic equilibrium
  • theScaleFactorStD - standard deviation multiplier of the selected candle range
  • theScaleFactorRegionJoker - multiplier for Joker area ranges
  • probabilitySell - probability, above which sell deals in a Joker area are most efficient
  • probabilityBuy - probability, above which buy deals in a Joker area are most efficient
  • theScaleFactorStD - standard deviation multiplier of the selected candle range
  • theScaleFactorJoker - multiplier for Joker area ranges
  • boolAvgStdJo - Joker Average and Std are used for displaying Joker area levels, otherwise - the average and the standard deviation of interval histograms

_VI - block header

  • font - font size
  • fontBalance - font of a price label of the current dynamic equilibrium level
  • fontSize - font size

_VII - block header

  • shift_Y_Total - shift label column along the Y axis
  • displayLabelColumnPQ - label of displaying price label and Joker area level frequency columns (yes/no)
  • shiftThePriceColumn - shift of price labels relative to a zero candle
  • shiftThePQColumn - shift of the first frequency column relative to a zero candle
  • shiftTheRPQColumn - shift of the second frequency column relative to a zero candle

_VIII - block header

  • colorLineEqEven - Equilibrium level color for even Joker areas
  • colorLineEqOdd - Equilibrium level color for odd Joker areas
  • colorSell - color of a buy label for flat tactics
  • colorBuy - color of a sell label for flat tactics
  • colorBuySellPrice - color of price level labels for flat tactics
  • colorLabelBuySellPQ - Buy|Sell label color at the equilibrium level
  • colorLabelBalancePrices - color of Joker price level equilibrium labels
  • colorLabelBalancePQ - color of Joker level frequency equilibrium labels

_IX - block header

  • colorRangeFirst - first Joker area range level
  • colorRangeSecond - second Joker area range level
  • colorRangeThird - third Joker area range level
  • colorRangeForth - fourth Joker area range level
  • colorRangeFifth - fifth Joker area range level

_X - block header

  • colorBorderRangeAvg - The color of the range levels equal to the Average
  • colorLabelsJokerLevel - Label color of the range levels of the Joker area
  • colorLabelsRiverbedLevel - Label color of the Riverbed range levels
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nitinjain04
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nitinjain04 2017.12.09 16:19 
 

how does this work ?

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Version 3.0 2016.12.26

The algorithm has been optimized in order to provide the possibility of displaying the real frequency distribution of prices in the Joker areas. Real ranges of price fluctuations relative to the dynamic equilibrium level now correspond to the expressions [ Average ] and [ Average + n * Standard deviation ], where: n = 1,2,3,4

Fixed description in block _II:

_II - block header

displayLabelColumnPQ - Display price label and Joker area level frequency columns (yes/no)

Added new variables in the following blocks:

_V - block header

boolAvgStdJo - Joker Average and Std are used for displaying Joker area levels, otherwise - the average and the standard deviation of interval histograms

_VIII - block header

colorLineEqEven - Equilibrium level color for even Joker areas
colorLineEqOdd - Equilibrium level color for odd Joker areas

_X - block header

colorBorderRangeAvg - The color of the range levels equal to the Average
Version 2.0 2016.10.21
The indicator code has been revised in order to implement the ability to display the Riverbed (channel) of the price areas with a single level of dynamic equilibrium.