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,

[N2bFree]

Thanks for sharing. I'll check the indy out and post anything I found.

N2

[akifusenet]

Your welcome.

Please follow latest updates from Market_Statistics and MIDAS thread at forex-tsd.


I am in debt to TL for all these information. Especially to Jperl.

Thanks.

Akif,

[RobinHood69]

Hello Everyone,

Hopefully I can inspire a MT programmer to develop a Market foot print Delta indicator with this Picture. This is the closest I can get to tape reading the Forex or any market.

I have been using NinjaTrader to build charts for the Forex. The chart I posted shows the GBP/USD for today around FOMC time. It is set at a 15 pip range. One of the basic thing I do using this type of chart is to draw trend lines through the POC (Point of Control) and if a POC crosses the trend line I look to enter the market against the trend works pretty good.

FYI the Point of Control is where most of the trades took place during the construction of the range bar and if you look at each bar you can see a blocked off or in bold section which is the point of control area.
The only way I got to make the market foot print indicator to work on the Forex was to change the setting to use uptick instead of bid and ask.
You can download NinjaTrader for free and make a Forex connection through Gain also you can use the market delta footprint for free for 30 days if you want to play around with it.
Another excellent way to measure gauge a trend or move is to use Delta percentage and if someone can develop a simple indicator to show the where most trades are taking place if on a up or down tick and plot it as a percentage it would be very helpful to read the market to see where the buyer or sellers are starting to put up a fight.

Thanks,

Robinhood69

[BlowFish]

Trouble is Robin that nearly all the people that provide MT4 do so for spot forex. It is impossible to produce that sort of chart for spot as the required info is just not reported.

[akifusenet]

On of the biggest handicaps of MT4 is it cant do range bars(or tick bars) like your Ninja chart. So it is really hard to get that same picture in MT4.(but i am quite new to that)

But this one looks interesting. I will check on that.

Akif,

[RobinHood69]

Hello BlowFish,

Yeah that’s what a bummer about Forex is that it’s a spot market but I was able to tweak the Market footprint to show up tick and down tick transactions that seem to work well for the Forex. I like I said this is the closest I can get to reading tape. At the very least it can show you the battle price or POC at each candles being form where most of the transaction took place at which price level which I think is a great advantage to seeing price action in a different light and hopefully catch moves earlier and risk less by knowing which prices the buyer and sellers are actually fighting for.

FYI I also have the each block price to show it at 2 tick increments.

I don’t know if the picture I post can be seen because I tried and it does not pull it up on my side so I’ll post a link to my screencast picture.

2009-08-13_0915

Thanks,

Robinhood69

[RobinHood69]

Yeah that’s been the biggest problem with me transitioning to the Forex is trying to use minuet charts. I build a couple of Market Delta footprint charts using minuets charts to see how they look.

It looks pretty good on 5 minuet charts and above.

Here is a 5 min and 10 min chart of GBP/USD. It is a great way to see which price is the battle prices of each candle.

Let me know if you can see the pictures?

Thanks,

Robinhood69