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Read today in the Stocks & Commodities Magazine description of Top/Bottom finder indicator...Looks interesting...Author presents it on charts of trending markets...not choppy ones...so I don't know how it behaves in sideways...but it looks great while market trending....Attaching pictures and mathematical formula...Indicator suppose to be attached to any bar of your choosing and pinpoint the end of the trend...Anyone can take a look at it and code it in Metatrader?..for references Applying Midas To Daily And Weekly Charts
Read today in the Stocks & Commodities Magazine description of Top/Bottom finder indicator...Looks interesting...Author presents it on charts of trending markets...not choppy ones...so I don't know how it behaves in sideways...but it looks great while market trending....Attaching pictures and mathematical formula...Indicator suppose to be attached to any bar of your choosing and pinpoint the end of the trend...Anyone can take a look at it and code it in Metatrader?..for references Applying Midas To Daily And Weekly Charts
it will be really great if somebody can codes this in MT4.
There were I believe 3 articals writen on that subject. One a few years ago, and a two part artical were yours is one part of two. Will have to search traders.com for the other part as I dont remeber the months that they were published.
First, however, a few words are required regarding the mechanics of applying the TOPFINDER algorithm. First one must pick a launch point, i, which identifies the day on which TOPFINDER is to start. Also the duration, D, must be chosen, where D is the cumulative volume from the launch point to the top. D is actually determined by iteratively adjusting it to provide a best "fit" to the price pullbacks subsequent to launch. To start this process, one must set D equal to some initial guess; I usually choose fifty days worth of volume, i.e. the cumulative volume at launch minus the cumulative volume fifty trading days earlier. In the fitting process used to determine D, generally an "eyeball" affair, give more weight to fitting the more recent pullbacks.
Cockeyedcowboy or anyone managed to code this indicator?
I read the articales on this a time back and was not to impressed with it, as the whole thing depended upon were you stated or (pinned bar) where you started from. It may or may not be useful I dont know, but have too many things going on to start anything new.
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