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In MT4, the TIME scale at the chart bottom is the OPEN time of that bar/candle.
It stays and constantly draw/paint that bar movement until that TF time ends.
So, on H1 bar, you can draw within that same bar, the already closed M30 movement, M15, M5 & M1 – each with different background color, using stronger colors for shorter TF’s.
Using it this way – you’ll “see” current market “sentiment” of that TF.
G.
On the previous subject of bars “direction change”:
Bars #1 & #2 Highs are higher than previous bars High in down trend/swing – early signal for direction change.
Bar #3 High is Not higher than previous highs (in down trend/swing) – direction will not change.
Bars #4, #5, #6, #7 Highs are higher than previous bars High in down trend/swing – early signal for direction change.
G.
Maybe you don’t understand – but this shouldn’t repaint.
Well possible: if this doesn’t repaint, I really did not understand your description.
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Hi Simplex, This is what I posted on another forum on 10-31-2015, 01:27 AM. Is it possible to just display horizontal lines for simplicity sake since the donchian channel can be quite distracting because of the shape but I thought we can just compare how the lines will look as compared to the donchian channels. And see which is more visually appealing to the eye.
Hi LA!
Some ‘typical’ igorad code you provided here: usually his indicators are working well if you don’t plan to change them, but modification will be really hard because of his poor coding standards. I would have to spend about half a day to get this one right ‘before’ starting to modify – so sorry: at the moment, I don’t have the time to care for this one. Maybe somebody else could join in. Did i. answer your request in the ND forum?
I tried putting all the donchian channels with different TF settings but it looks like a mess
Heheeee!
Donchian gone wild!!! Reminds me of my 1st attempt to code an MTF TZ indicator – see http://penguintraders.com/forums/topic/the-take-a-break-from-serious-business-thread/page/2/#post-2760 Which one will look better when printed on a t-shirt?For today, I’m planning to integrate my current CIX prototype (see http://penguintraders.com/forums/topic/a-flexible-and-compact-currency-strength-indicator/page/9/#post-8721) in my cluster indicator & EA environment. Will probably take the whole day. So I will ‘try’ to stay focused and not follow alternate requests and offers in depth.
Cheers, s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
On the previous subject of bars “direction change”:
Hi G.!
Thanks a lot for your input again! I decided to postpone working on this one for reasons I described in my latest post: http://penguintraders.com/forums/topic/true-barscandles-and-market-sentiment/page/2/#post-8938
Maybe somebody else could join in by coding. I would certainly follow and assist if appropriate.
Got to focus my efforts right now!
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Hi Simplex, This is what I posted on another forum on 10-31-2015, 01:27 AM. Is it possible to just display horizontal lines for simplicity sake since the donchian channel can be quite distracting because of the shape but I thought we can just compare how the lines will look as compared to the donchian channels. And see which is more visually appealing to the eye.
Hi LA! Some ‘typical’ igorad code you provided here: usually his indicators are working well if you don’t plan to change them, but modification will be really hard because of his poor coding standards. I would have to spend about half a day to get this one right ‘before’ starting to modify – so sorry: at the moment, I don’t have the time to care for this one. Maybe somebody else could join in. Did i. answer your request in the ND forum?
I tried putting all the donchian channels with different TF settings but it looks like a mess
Heheeee!
Donchian gone wild!!! Reminds me of my 1st attempt to code an MTF TZ indicator – see http://penguintraders.com/forums/topic/the-take-a-break-from-serious-business-thread/page/2/#post-2760 Which one will look better when printed on a t-shirt? For today, I’m planning to integrate my current CIX prototype (see http://penguintraders.com/forums/topic/a-flexible-and-compact-currency-strength-indicator/page/9/#post-8721) in my cluster indicator & EA environment. Will probably take the whole day. So I will ‘try’ to stay focused and not follow alternate requests and offers in depth. Cheers, s.Sorry, the code is not from igorad, Since I’m not a coder, I just request him to help make some modifications (indicator found on web) to display high low horizontal lines from all TF. , but I didn’t thought of extending the lines though. It would be great if u have the time to write an indicator for us though. Sorry but until now he still haven’t reply to my request. Lol.
Cheers
I only know I know nothing
Skype: learnalways@outlook.comIt would be great if u have the time to write an indicator for us though. Sorry but until now he still haven’t reply to my request. Lol. Cheers
If you’re patient enough …
Your request is not so special … no similar findings on the web?
At the moment, my integrated CIX doesn’t show too much
, some more work is required (see pic).s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Sure Simplex, take your time. I just want the high low indicator to complement my naked trading, currently I’m trying to trade using naked charts but its abit hard so I’m still using some tools to help me, and currently using Tom Denmark trendlines. I figure some horizontal lines like High Low wouldn’t hurt because I will be drawing them myself or it will be easier to have tools to do that. The Currency indicator looks great, but too much lines cloud the mind and made decision making slower, is it like possible to display maybe small labels to show which currency is the strongest and weakest. Something like that, just a suggestion though.
LearnAlways
I only know I know nothing
Skype: learnalways@outlook.combut too much lines cloud the mind and made decision making slower
Yep – looking at those 16 lines, they ‘cloud’ my mind, too. But I’m trying to write the EA logic in a way it won’t be clouded! It doesn’t need to look at the lines, it just calculates in order to spot those pairs that make sense for an entry.
So far for the plan … future will show whether it works!
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
I may be way off base but here is my take. Using the Sergio Borsani indicator Candles by SB we can mark the 1hour range on the 5min chart to visually see the 1 hour channel. Unfortunately the indicator doesn’t allow multiple attachments to create the other time frame channels. G is this a starting point to what you are describing?
Mission accomplished for today! See http://penguintraders.com/forums/topic/a-flexible-and-compact-currency-strength-indicator/page/9/#post-8960
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
I have an indicator made by smallcat, requested by me, its Line Fractal MTF, but as u know Fractal depends on the surrounding candlestick and might repaint. I’m sorry I didn’t really used it till now as I didn’t really start naked trading. I was hoping someone might be able to modify it to extend the lines and maybe the color should be changed to reflect the same for each different TF(minor touch-up). But this might be the best for now as I’m not sure how it will compare to High Low Extended Lines. I hope smallcat doesn’t mind I share it here. I didn’t see him in awhile for now, he doesn’t seem active in this forum too, nevertheless I would like to take this opportunity to thank him for my request.
Attachment: High Low points (mod) draws arrow but I changed the settings to only display major high low points downloaded from FF
Best Regards,
LearnAlways
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This reply was modified 10 years, 5 months ago by . Reason: Attach High Low Points Indicator
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This reply was modified 10 years, 5 months ago by .
I only know I know nothing
Skype: learnalways@outlook.comxxxxx
6. The simplest, single dimension form of “channel”, is the ZigZag indicator. Above that is the ATR channel, and there are more… To be continued… G.Hi G,
Thanks for your ideas
About the ATR channel, is it like this ? https://www.mql5.com/en/code/9287If you do it on H1 chart (or any other higher than M1 – my prefered and used method): You should extend the already closed lower TF bars/channels to the right of the H1 (as if “prediction” bars, but they are actually real ones). For those extended bars the TIME is meaningless, and they should be scaled to the H1 scale. More complicated to program, but more revealing… G.
Just to make sure: At 5 minutes before candle H1 close,
We take candle (1) for TF M5-M30, and candle (5) for TF M1 (because at 5 minutes before H1 close), but for TF H1, we take candle 0 (zero) ?
Do we take candle M30 @08:00 , M15 @08:30, M5 @08:50 and M1 @08:54 and we draw the channel ?
Edit: assuming the image is right. Do we look at the H1 candle @07:00 (previous closed H1 candle), and split it into 3 parts ? Or we take current H1 candle @08:00 and split it into 3 parts ? How can we know the direction of current H1 candle (@08:00) , which still has 5 minutes to close ?Thanks G
I have an indicator made by smallcat, requested by me, its Line Fractal MTF, but as u know Fractal depends on the surrounding candlestick and might repaint. I’m sorry I didn’t really used it till now as I didn’t really start naked trading. I was hoping someone might be able to modify it to extend the lines and maybe the color should be changed to reflect the same for each different TF(minor touch-up). But this might be the best for now as I’m not sure how it will compare to High Low Extended Lines. I hope smallcat doesn’t mind I share it here. I didn’t see him in awhile for now, he doesn’t seem active in this forum too, nevertheless I would like to take this opportunity to thank him for my request.
Attachment: High Low points (mod) draws arrow but I changed the settings to only display major high low points downloaded from FF Best Regards, LearnAlwaysHi bro,
nice to see you again. No problem to share it at our New Home …
And thanks for sharing other indicators …xxxxx 6. The simplest, single dimension form of “channel”, is the ZigZag indicator. Above that is the ATR channel, and there are more… To be continued… G.
Hi G, Thanks for your ideas
About the ATR channel, is it like this ? https://www.mql5.com/en/code/9287If you do it on H1 chart (or any other higher than M1 – my prefered and used method): You should extend the already closed lower TF bars/channels to the right of the H1 (as if “prediction” bars, but they are actually real ones). For those extended bars the TIME is meaningless, and they should be scaled to the H1 scale. More complicated to program, but more revealing… G.
Just to make sure: At 5 minutes before candle H1 close, We take candle (1) for TF M5-M30, and candle (5) for TF M1 (because at 5 minutes before H1 close), but for TF H1, we take candle 0 (zero) ? Do we take candle M30 @08:00 , M15 @08:30, M5 @08:50 and M1 @08:54 and we draw the channel ? Edit: assuming the image is right. Do we look at the H1 candle @07:00 (previous closed H1 candle), and split it into 3 parts ? Or we take current H1 candle @08:00 and split it into 3 parts ? How can we know the direction of current H1 candle (@08:00) , which still has 5 minutes to close ? Thanks G
To the RIGHT of H1 bar, opened @08:00 (current time is 08:55):
Bar +1: 1 M30 bar, closed @08:30, 1 M15 bar closed @08:15, 1 M15 bar closed @08:30, 6 M5 bars closed @08:30 (6 intervals of 5 minutes) (stacked on the same bar – each in different color)
To the Right of the above bar:
Bar +2: 1 M15 bar closed @08:45, 3 M5 bars closed @08:45 (3 intervals of 5 minutes)
To the Right of the above bar:
Bar +3: 2 M5 bars closed @08:55 (2 intervals 0f 5 minutes)
To the Right of the above bar:
Bar +4: 4 bars of M1 (4 intervals of 1 minute)
All should be reset at H1 bar close, and the whole sequence starts again.
G.
To the RIGHT of H1 bar, opened @08:00 (current time is 08:55): Bar +1: 1 M30 bar, closed @08:30, 1 M15 bar closed @08:15, 1 M15 bar closed @08:30, 6 M5 bars closed @08:30 (6 intervals of 5 minutes) (stacked on the same bar – each in different color) To the Right of the above bar: Bar +2: 1 M15 bar closed @08:45, 3 M5 bars closed @08:45 (3 intervals of 5 minutes) To the Right of the above bar: Bar +3: 2 M5 bars closed @08:55 (2 intervals 0f 5 minutes) To the Right of the above bar: Bar +4: 4 bars of M1 (4 intervals of 1 minute) All should be reset at H1 bar close, and the whole sequence starts again. G.
Thanks a lot for your explanation G. About the Bar+4 for M1, shall we take from @08:55 – @08:59 ?
This HiLo levels will active only in 5 minutes (from @08:55 to @09:00 ) , and then we delete the levels & create new levels again on @09:55 (each 1 hour interval) ?
Is this to predict the direction of next H1 bar (begin bar time @09:00) or next M1/M5/M15/M30 bar that begin @09:00 ?Thanks in advance
To the RIGHT of H1 bar, opened @08:00 (current time is 08:55): Bar +1: 1 M30 bar, closed @08:30, 1 M15 bar closed @08:15, 1 M15 bar closed @08:30, 6 M5 bars closed @08:30 (6 intervals of 5 minutes) (stacked on the same bar – each in different color) To the Right of the above bar: Bar +2: 1 M15 bar closed @08:45, 3 M5 bars closed @08:45 (3 intervals of 5 minutes) To the Right of the above bar: Bar +3: 2 M5 bars closed @08:55 (2 intervals 0f 5 minutes) To the Right of the above bar: Bar +4: 4 bars of M1 (4 intervals of 1 minute) All should be reset at H1 bar close, and the whole sequence starts again. G.
Thanks a lot for your explanation G. About the Bar+4 for M1, shall we take from @08:55 – @08:59 ? This HiLo levels will active only in 5 minutes (from @08:55 to @09:00 ) , and then we delete the levels & create new levels again on @09:55 (each 1 hour interval) ? Is this to predict the direction of next H1 bar (begin bar time @09:00) or next M1/M5/M15/M30 bar that begin @09:00 ? Thanks in advance
Yes. But it’s not restricted to H1 – that was just an example.
If you use different background color for each – you will clearly see the market “sentiment” – it’s much the same method as “Market Profile” uses the Volume distribution during certain period.
G.
Yes. But it’s not restricted to H1 – that was just an example. If you use different background color for each – you will clearly see the market “sentiment” – it’s much the same method as “Market Profile” uses the Volume distribution during certain period. G.
Thanks a lot G …
Where all “Rivers” wants to go…
Center rectangle is the dominant “channel”, and not necessarily in the geometric center.
Each “channel” is important, as water must flow through each one when converging.
The further the water flow from the dominant channel – the stronger the flow and turbulance will be toward the center channel.
Just watch the flow from the river bank, and don’t get wet….
G.
Where all “Rivers” wants to go… Center rectangle is the dominant “channel”, and not necessarily in the geometric center. Each “channel” is important, as water must flow through each one when converging. The further the water flow from the dominant channel – the stronger the flow and turbulance will be toward the center channel. Just watch the flow from the river bank, and don’t get wet…. G.
There is a direct correlation between the amount of water (Volume) and the water level (height).
The more water comes into the river cross-section “contour” – the further it deflects from the dominant “channel”.
As the water amount reduces – the river water level is reduced and tend to follow previous “contour” and toward the previous level or “channel”.
G.
G regarding the water channel above would you permit me to make a video of this concept, I would put it onto the Video thread so as not to clutter up Innate’s thread here.
It will be my interpretation and not necessarily “correct” though I am sure you would kindly put me right if I interpret it incorrectly.
Pip
skype : pipatronic
G regarding the water channel above would you permit me to make a video of this concept, I would put it onto the Video thread so as not to clutter up Innate’s thread here. It will be my interpretation and not necessarily “correct” though I am sure you would kindly put me right if I interpret it incorrectly. Pip
You are more than welcome to do so !!
G.
If it’s like that what gg53 as well as smallcat did, I think it will not work. For instance, look at the example of smallcat of post #8979. How many false signals would you get? For the above example I draw small white arrows above/below candles from which I conclude further move. Maybe, the candles can give an idea of the market sentiment, but if you look for a fast profit (e.g. by waiting for the next candle continue in predicted direction), drawdown may kill your account …
If it’s like that what gg53 as well as smallcat did, I think it will not work. For instance, look at the example of smallcat of post #8979. How many false signals would you get? For the above example I draw small white arrows above/below candles from which I conclude further move. Maybe, the candles can give an idea of the market sentiment, but if you look for a fast profit (e.g. by waiting for the next candle continue in predicted direction), drawdown may kill your account …
From where exactly did you got the idea that this thread is about “fast profit” or entry points?
You can find fast & sure entries and low DD at another thread, such as the “1 pip…” + live account results.
G.
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This reply was modified 10 years, 5 months ago by
Donchian gone wild!!! Reminds me of my 1st attempt to code an MTF TZ indicator – see 
Donchian gone wild!!! Reminds me of my 1st attempt to code an MTF TZ indicator – see 
, some more work is required (see pic).
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