Hello everybody again.

Sorry for posting my first indicator (MIDAS) to Technical Analysis section.Somehow I couldnt manage to open a new thread for that indicator in this section at that time. Now things look ok. Maybe it should be moved here also.
http://www.traderslaboratory.com/for...-mt4-6538.html

So this is my second indicator. And this indicator is created to be able to follow Jperl's Market Statistics thread on MT4.

As I already talked about in my MIDAS post these are my first indicators and I am just learning MQL. So feel free to send me comments, bugs,anything...

I might also post skewness indicator in a later post.


Thanks for trying..

Akif,

[BlowFish]

The trouble with PVP is unless you assign every single tick to the apropriate price you will get discrepancies due to averaging the volume across a range of prices (a bar). Could that be the problem?

[RobinHood69]

Hello Hal9000,

Plus what I think is also happening is that you are displaying more bars compared to my charts thats why it looks differnt. if I display more bars and set the range to yours it should look the same.

Thanks,

Robinhood69

[RobinHood69]

Hello guys here is a value base chart I did using NT this indicator is public domain. I plotted it with and without VWAP.

Thanks,

Robinhood69

[BlowFish]

What did you use to plot the volume histogram RH?

[RobinHood69]

Hello Blowfish,

I use one of the Calculated Value areas that I downloaded on the indicator section in NinjaTrader. I believe there is 2 or 3 of them located there. There is another web site called trading studies dot com that has a bunch of free cool indicators you can download for free. Like Renko bars which are pretty cool to filter out noise and give you the core trend.

It is the indicator that will say dValueArea on your indicator list and that’s the one that plots the histogram. There are others that don’t plot the histogram and just plot the value area but dValueArea one does.

Let me know if you need it and I’ll e-mail it to you.

Thanks,

Robinhood69

[BlowFish]

I was wondering about the study that produces the volume histogram in the background rather than the value areas ?

[RobinHood69]

Hello Blowfish,
I learned about Value areas from Larry Levin on how and why floor traders use these areas where 70% of all the volume was traded during a certain period of time is where value areas are calculated. I also found a PDF from Market Delta show some brief history and how to trade these value areas.

Hope that helps.

If you want the PDF let me know I have it in my other computer.

Thanks,

Robinhood69

[HAL9000]

Originally Posted by akifusenet »

Which software is this (using Java?)

Akif

Hello Akif,

this Java application is my own implementation, based on some open sources.

It wasn't intended as charting application, but now I use it to create my pictures.


Regarding my PVP implementation, maybe its best to forget about it,
maybe I made an error, but anyway what it should show is the PVP based on the 3rd central moment, and well, my intention wasn't to add confusion.

Regards,

Hal