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Originally Posted by xard777
I've tested the #00MM-TimeFrame indicator live @ 1min along with the labelLvels indicator....set Period on both to 32....works fine....bear in mind it's the candles close that #00MM-TimeFrame indicator uses....both charts did change frame automatically when candle closed beyond the frame.
I had three good trades on the 1hr chart last night...works fine
If you want, change the period to 64
Xard777
enc charts.
ps I also ran the Hi-Close/Lo-Close figure through AMM.exe - they matched up even when the chart moved into a larger frame.
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I didn't notice YET that ##00MM-TimeFrame64 really changes when it closes above 2/8th. But I assume it will do.
However to my humble opinion 'we' have to change the calculation. I think we use values too high and too low if the period calculates 64 bars from the current bar.
Only if the current bar
-/-1 closes above 2/8th or below -2/8th a recalculation is needed. (Because it's the first occurence). But based on 64 bars back from current -/- 1, because the current bar is still 'building'. It is not said that it will
close above current -/- 1
So the script looks like: if the close of the previous bar > +2/8th, recalculate V2 (using the close of the previous bar for 64 period backwards.
Something similar applies to -2/8th and V1 too.
Are you able to do the scripting (I'm not YET)
Or correct me if I'm wrong