Looking for Indicator

Dreamliner · #1 (**permalink**) 04-06-2009, 08:04 PM

Greetings,

Does anyone know if there is an indicator that tells how many "pips to go" until the market reaches it's daily average movement?

In other words, I'm looking for an indicator that will state, in number of pips, how far the market can go before it reaches its daily average movement.

If you know of an indicator like this, can you please post it here?

Thank you.

Walander · #2 (**permalink**) 04-06-2009, 09:21 PM

I can design one quickly if you need,

but I need more specification on the basis of how you are calculating the average daily move?

Dreamliner · #3 (**permalink**) 04-06-2009, 10:00 PM

Quote:

Originally Posted by Walander

I can design one quickly if you need,

but I need more specification on the basis of how you are calculating the average daily move?

Thanks much! I think probably the average daily move over the previous 30 days would be great. Is that what you are asking about?

Walander · #4 (**permalink**) 04-06-2009, 10:12 PM

Yup!,

I'll get that done in a sec.

I'm not a proficient coder, but I get it done I think? I havnt tested, but here you go

[quote=Dreamliner;272800]Thanks much! I think probably the average daily move over the previous 30 days would be great. Is that what you are asking about?

Walander · #5 (**permalink**) 04-06-2009, 10:35 PM

Here yeh go,

It should work- but i didn't test it becuase my mq4 hates it when I compile.

Cheers,

Dreamliner · #6 (**permalink**) 04-06-2009, 10:41 PM

Thanks again!

Is the "pips to go" located on the top left? For instance, I see the number 0.0155. Is it correct to assume that there are 155 pips to go to reach the daily average?

Quote:

Originally Posted by Walander

Here yeh go,

It should work- but i didn't test it becuase my mq4 hates it when I compile.

Cheers,

Walander · #7 (**permalink**) 04-06-2009, 10:46 PM

The calculation is based on

30Avg - Daily Avg (Today)

I have changed it so that the number will be Red for under

and Green for over

Cheers, oops.

Please download this point I accidently put *Point rather than /Point

Walander · #8 (**permalink**) 04-06-2009, 10:48 PM

This one.

I'm a half assed coder, sorry.

Dreamliner · #9 (**permalink**) 04-06-2009, 10:49 PM

So if it is over (Green) and the number is 179, what is that telling us?

Quote:

Originally Posted by Walander

The calculation is based on

30Avg - Daily Avg (Today)

I have changed it so that the number will be Red for under

and Green for over

Cheers, oops.

Please download this point I accidently put *Point rather than /Point

Dreamliner · #10 (**permalink**) 04-06-2009, 10:52 PM

Quote:

Originally Posted by Walander

This one.

I'm a half assed coder, sorry.

Now it's green and the number is -23.9821. What exactly is this telling us?