Marc's chart

[Boylan]

My warmest greetings to all,
Can anyone explain the following items found on Marc's chart:
1. interpretation of the 1H...MN signal bars at top right corner
2. I observed that the stochastics and MACD indicators are different from conventional ones, can anyone explain how they are interpreted

Thanks
Boylan

[capsmart]

Hi Boylan,
What you see to the right is an indicator that gives some clues about the trend.
The name of the indicator is the 5digit daily range and if you check the parameters you will see the meaning of them.
As an example the ema shows the situation of a 5/9 ema cross (those are the default settings for this indicator).
So if the EMA is green on the 1h we have an 5/9 up cross, if red a 5/9 down cross for this specific timeframe.
Concerning the STR it looks to me like an RSI/CCI/STOCH combination.
We do not base our analysis on the color codes. What we like to see on this indicator are the ATR's. So you can simply ignore the colored boxes or you can adjust them to something that could be useful to you. But you are correct the settings are unusual.

[Boylan]

Hi Boylan,
What you see to the right is an indicator that gives some clues about the trend.
The name of the indicator is the 5digit daily range and if you check the parameters you will see the meaning of them.
As an example the ema shows the situation of a 5/9 ema cross (those are the default settings for this indicator).
So if the EMA is green on the 1h we have an 5/9 up cross, if red a 5/9 down cross for this specific timeframe.
Concerning the STR it looks to me like an RSI/CCI/STOCH combination.
We do not base our analysis on the color codes. What we like to see on this indicator are the ATR's. So you can simply ignore the colored boxes or you can adjust them to something that could be useful to you. But you are correct the settings are unusual.

Hi Capsmart,
Thanks for your invaluable explanation. Could you expartiate a little bit about the ATR's, I could not really figure it out from the chart.

Kind regards,
Boylan

[cunicu]

My warmest greetings to all,
Can anyone explain the following items found on Marc's chart:
1. interpretation of the 1H...MN signal bars at top right corner
2. I observed that the stochastics and MACD indicators are different from conventional ones, can anyone explain how they are interpreted

Thanks
Boylan

Hi Boylan:
Find attached info sheet on Signals indi not sure which version on Marc's chart I have done a number of Mod's I can customize to suit you if you wish just send me a PM.

Cheers Les

[capsmart]

Hi Boylan
If you look below the colored tabs you will see in a sequence the following
Pips to open (how far price moved today from open. Negative or positive)
Today's range. How much priced moved today. The distance from high to low on the today's daily candle. This is the ATR for the day.
Prev Days range. The same as above but for yesterday.
And then 5,10 and 30 days ATR. This is the average ATR for the last x days,
Let's take the USD/CAD. We can see that for the last 30 days the ATR is 66 compared to the GBP/USD that is 129. So if during the Asian+European session the CAD moved already (ie the size of the daily candle) is 70 pips you "should" not expect it to move more. A most possible reaction would be a ranging movement.
If the pound during Asian+European created a daily candle of 40 pips you can "expect" it to move at least another 60-80 pips in one direction.
The pound could also have created a solid green daily candle of 130 pips and now is sitting at the top of it (high of the day) 3 hours after US open. It is "logical" to expect that it will retrace to a lower point and not move higher.
Of course this is not an exact science. Those are things to consider when trading.

[Boylan]

Hi Boylan
If you look below the colored tabs you will see in a sequence the following
Pips to open (how far price moved today from open. Negative or positive)
Today's range. How much priced moved today. The distance from high to low on the today's daily candle. This is the ATR for the day.
Prev Days range. The same as above but for yesterday.
And then 5,10 and 30 days ATR. This is the average ATR for the last x days,
Let's take the USD/CAD. We can see that for the last 30 days the ATR is 66 compared to the GBP/USD that is 129. So if during the Asian+European session the CAD moved already (ie the size of the daily candle) is 70 pips you "should" not expect it to move more. A most possible reaction would be a ranging movement.
If the pound during Asian+European created a daily candle of 40 pips you can "expect" it to move at least another 60-80 pips in one direction.
The pound could also have created a solid green daily candle of 130 pips and now is sitting at the top of it (high of the day) 3 hours after US open. It is "logical" to expect that it will retrace to a lower point and not move higher.
Of course this is not an exact science. Those are things to consider when trading.

Hi Capsmart,
Could you or anyone else explain how to change the MSignalBar5dig indicator's last ATR to show for 20 days instead of the default 30 days? Alternatively if you have one that shows today, 1, 5,10 and 20 days, I will appreciate your making it available,
Thank you.

Boylan

[capsmart]

Hi Boylan
I am attaching another indicator that displays the 5,10,30 days ATR together with today's and yesterday's ATR and some more useful information. Enjoy.
5Digit-dailyrange.mq4

[Boylan]

Hi Capsmart,

Thank you for the indicator but one I am looking for is one that also show previous 20 days ATR.

Kindest regards,

Boylan

[capsmart]

Hi Boylan,
If you must absolutely have the 20 tell me which one you not need and I can change it for you.
I could not add another one because the logic of the source code is very wired but I could change one of the existing ones (5,10 or 30) to 20. Just let me know.
Regards

[Boylan]

Hi Capsmart,

I will appreciate if you can change the one of 30 to 20.

Thanks.

Boylan