[REQ] typical price / projected next bar

paaluu · #1 (**permalink**) 11-09-2008, 03:19 PM

Hello all!

There is a method to calculate the typical price of the next bar,
The next open, next high, next low and next Close.
And to use this fake bar in all indicator calculations.

(It differs a bid from "pivot" or "weighted close")

I am looking for a script or indicator to draw and "predict" the next bar.
This will also result in predicted values for CCI and Stoc.

I can do this manually by using the MT's complete History[F2].
But i like to have it automated.

Is there already a tool out there or do i have to write it myself

.

This concept differentiates between sideways, up moves and down moves.
So a script might be the best approach for this.
One has to decide the market oneself.

The formula is:

Code:

VariA) for consolidating prices:

last bar's: (Open+High+Low+(2*Close)) / 5 = x

Projected Next High = 2*x - last low
Projected next low   = 2*x - last high
Projected open and Close = ø of last bar -> (Open+High+Low+Close)/4
Projected Typical Price of next bar = (Projected next low + Projected Next High) /2

Code:

VariB) for up moves:
We need 4 bars ( the 4 last bars)

1. calculation of  ø - directional move:

ABS (Bar1 low - Bar2 high) = a
ABS (Bar2 low - Bar3 high) = b
ABS (Bar3 low - Bar4 high) = c
ø - directional move = (a+b+c)/3 = DM

2. calculation of ø - volatility

Bar2 high - Bar2 Low =aa
Bar3 high - Bar3 Low =bb
Bar4 high - Bar4 Low =cc
ø - volatility =(aa+bb+cc)/3 = AV

3. Projections
Projected next high = DM + Bar4 low
Projected next low  = Projected next high - AV
Projected next typical price = (Projected next high + Projected next low)/2

4. optional calculations of projected close and open

Code:

VariC) for down moves:

viceversa VariB)

I am not sure if one can script the historical price data or
if one can draw a fake bar on the chart, that way all indicators recognize that fake bar in their calculations.

Is what possible?

Is such a tool already out there ?

Michel · #2 (**permalink**) 11-09-2008, 09:17 PM

I am not sure if one can script the historical price data or
if one can draw a fake bar on the chart, that way all indicators recognize that fake bar in their calculations.

It is easy to draw a projected bar on the chart, but the indicators will not recognize it.
It is a little more complex to write the projected bar on the hst file, but then the other indicators can recognize it.
To avoid collisions with the server's datas, I think that you should work on your own hst file with another name for the pair.
So you need to write an indicator and attach it for example on a EURUSD M5 chart.
This indic has to copy the EURUSD5.hst file to another file named for example P_EURUSD5.hst, which has to be opened "offline".
This indic replaces inside the hst file the current bar by the fake one, and when a new bar occurs, replaces the fake by the real one which is just closed and then compute the next fake.
This indic has also to send a window "message" to the offline chart P_EURUSD M5 to trigger the indicators or EA which are attached on, like if a new tick was incomming.
It migh looks difficult but it is not.
I suggest you to analyse the code of the "Period_Converter" script and "Period_Converter Opt" EA or indic to understand the structure of the hst files.
I also suggest that you write an indicator, not a script nor an EA,
because you can use IndicatorCounted() func to know if there is anything wrong with the datas (after a deconnexion for example) and then re-write the whole file.

paaluu · #3 (**permalink**) 11-10-2008, 12:41 PM

Thanks for your comment Michel.

It sounds still a bid complicated.

I am thinking now to rewrite the indicators (CCI and Stoch) to do the job of predicting the next bar.