Greater than average spread - chart stamp

Greater than average spread - chart stamp

Postby HannesJoubert » Tue Oct 06, 2020 10:40 am

Hi Everyone, I hope all are well, during these strange times? :?:

I am hoping to find an indicator that can show me when / where the spread on the chart of a pair has exceeded its' historical average.

I do have an indicator at the moment that shows, on a rolling, time basis, spread values, high and low (range), and when spread has exceeded the top end of the average. This indicator is free to download from Admiral.

This indicator is shown on the Empty4 platform in a separate window. On the face of it, this would seem to meet my expectations. However, when you look at the indictor, you will see that spread has, at one point in time exceeded average, but, you cannot see where or when that spread widening happened, in relation to the candle itself.

What I am hoping to find is an indicator that can take the above information, but print it, perhaps as a small horizontal line, across the candle or wick itself, in the price window. That way you can see:

a) That spread-widening took place,
b) where spread-widening took place on the candle / wick itself,
c) how many times spread-widening took place as it travelled with price, and,
c) perhaps more importantly, you can see where spread-widening took place in relation to other times / prices when spread-widening took place, especially if the "stamp" is printed "permanently" on the chart when time frames are changed (like when a trend line is placed?)

To anyone's' / everyone's' knowledge, does such an indictor exist, is it possible to code it?

Thoughts?

Thanks a stack.
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Greater than average spread - chart stamp

Postby SteveHopwood » Tue Oct 06, 2020 10:05 pm

The spread is not saved in empty4's database, so it is impossible to calculate the historical average spread.

My EA's all calculate a rolling average of spread from the time they are loaded, and keep this in a small file held on the platform, so it is possible to code an indi that does the same and draws the lines you want.

Thingy is, these lines would disappear the instant the chart was unloaded for any reason other than closing down the platform, so historical data would be lost.

I doubt anyone could be interested enough to code such an indi. For sure, I am not. Maybe some kindly soul passing by and wanting to cut her/his teeth on crapql4 coding might like to give it a go? Download one of my shells and do a search for the input MultiplierToDetectStopHunt to see how I do it. It is a bit of a blunt instrument, but that is often all we have when dealing with this stuff.

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Greater than average spread - chart stamp

Postby HannesJoubert » Wed Oct 07, 2020 7:27 am

Hi Steve, thanks for your kind reply.

I did not realise that there were such technical limitations from the side of the platform, apologies.

Will think on it some more and see if I can change the parameters of the idea so that it fits better with the "capabilities" of the system.

Perhaps if I explain why I am looking for this information someone might have a better idea or insight.

Captain Jack (RIP) mentioned that it often happens that when RRT's (or their underlying M's & W's) are printed, especially at the HOD or LOD, the spread is often widened at the top / bottom of these candles, in order to trap pending orders into going the wrong way.

Seeing as a RRT is made up of a M or a W, I was hoping to see when that spread widening happens, on the 1st or 2nd leg? As this might give an indication if the M or W will form, or if a straight away run might occur, or, if no meaningful widening happens, then no reversal may take place.

This might help to act as a filter to either stay out of the trade, get into the trade earlier, or to enter at the 2nd leg, (entering on the 2nd leg is, as I understand it, actually the way to enter these reversal trades)
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Greater than average spread - chart stamp

Postby lemur6666 » Wed Oct 07, 2020 3:13 pm

Removed by SH because it was nonsense.

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Greater than average spread - chart stamp

Postby SteveHopwood » Wed Oct 07, 2020 11:19 pm

HannesJoubert ยป Wed Oct 07, 2020 7:27 am wrote:Hi Steve, thanks for your kind reply.

I did not realise that there were such technical limitations from the side of the platform, apologies.

Will think on it some more and see if I can change the parameters of the idea so that it fits better with the "capabilities" of the system.

Perhaps if I explain why I am looking for this information someone might have a better idea or insight.

Captain Jack (RIP) mentioned that it often happens that when RRT's (or their underlying M's & W's) are printed, especially at the HOD or LOD, the spread is often widened at the top / bottom of these candles, in order to trap pending orders into going the wrong way.

Seeing as a RRT is made up of a M or a W, I was hoping to see when that spread widening happens, on the 1st or 2nd leg? As this might give an indication if the M or W will form, or if a straight away run might occur, or, if no meaningful widening happens, then no reversal may take place.

This might help to act as a filter to either stay out of the trade, get into the trade earlier, or to enter at the 2nd leg, (entering on the 2nd leg is, as I understand it, actually the way to enter these reversal trades)

This is my final contribution here.

Historical spreads are not stored in a candle's database.

I appear to need to repeat this, so here goes:
Historical spreads are not stored in a candle's database.

What you want is not codable within the limits of Empty4.

You appear to have some difficulty in accepting this concept so I will repeat it:
What you want is not codable within the limits of Empty4.

I am locking this ridiculous thread. HB, I have done my best to advise you. Up to you whether you accept my help or not. Just don't inflict any lack of acceptance on me here, OK? You will not enjoy the result of trying to do so.

:xm: :rocket:
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
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