could this be a useful EA/indicator ?

[ThaiGuy]

Hey folks,

community-trend-v0.1.jpg

I just looked at myfxbook and figured it might be possible somehow to make this an
automated EA, not sure how to fetch the information every minute from that website.

url = http://www.myfxbook.com/community/outlook

anyhow, if it's too little information for using as an EA, it might still be possible to use
it as an extra indicator to be build in in existing ea's to make them even perform better.

Let me know what would be possible with this information, and extra additions
(feedback for suggestions to be implemented) are always welcome

Have a great weekend all!

- ThaiGuy

PS. /me haz no c0ding skillz

[SteveHopwood]

In the absence if of a Crap Custom Abortion to interrogate, it is a teensy tad difficult to see how an EA can be coded around it.

[fxdaytrader]

Same/similar question, some ideas how to solve:
http://www.stevehopwoodforex.com/phpBB3 ... =15&t=1499

see also source of the myfxbook-page - The EA had to find and filter e.g. for EURUSD:

<tr>
<td>Short</td>
<td>65%</td>
<td>2281.23 Lots</td>
<td>9039</td>
</tr>
<tr>
<td>Long</td>
<td>34%</td>
<td>1201.35 Lots</td>
<td>4693</td>
</tr>
</table>
<div class='center marginT5'>141% of traders are currently trading EURUSD.</div>">

Maybe tricky, but not impossible I assume

[SteveHopwood]

Same/similar question, some ideas how to solve:
http://www.stevehopwoodforex.com/phpBB3 ... =15&t=1499

see also source of the myfxbook-page - The EA had to find and filter e.g. for EURUSD:

<tr>
<td>Short</td>
<td>65%</td>
<td>2281.23 Lots</td>
<td>9039</td>
</tr>
<tr>
<td>Long</td>
<td>34%</td>
<td>1201.35 Lots</td>
<td>4693</td>
</tr>
</table>
<div class='center marginT5'>141% of traders are currently trading EURUSD.</div>">

Maybe tricky, but not impossible I assume

Over to you my highly respected friend, but I council against getting involved in trying to read people's minds when they post stuff in a public forum that is basically nonsense. You can waste a lot of time that way.

The op does not look as though he has anything useful to offer. I hope I am proven wrong in a few weeks time.

In the meantime, I gracefully retire and remove my subscription from this thread so I am not disturbed by it further. Good luck, guys; I hope you find a way here to make your fortune.

[ThaiGuy]

Well, I can code PHP Steve (so I do am able to offer something).. and I know that it is NOT that hard to dump a txt file online every (few) minute(s) filtering out all unwanted info. But coding MQ4 ? I have no idea... perhaps somebody knows how to code in MQ4 how to make use of data gathered online.

Also if a coder (please stand up and say; "yes I want to help you and maybe others out!", lol) could let me know in which kind of format he/she would prefer to get the data ie.
$pair1 | $short_percentage | $long_percentage
$pair2 | $short_percentage | $long_percentage
$pair3 | $short_percentage | $long_percentage
$pair4 | $short_percentage | $long_percentage
etc.
That would be helpful, and I can start working on it

- ThaiGuy

PS. recommendations for a GOOD exit strategy for both orders in profit as well as losing ones, possibly maybe even a recovery system as well as 1 or 2 extra trend indicators as extra conditions on top of the main strategy/indicator for extra verification.

[odysseus11]

Thats actually a pretty neat idea, some others have tried similar things with twitter posts (catching mentions to indicate "crowd sentiment""). Hasnt worked too well so far that I have seen.

[icebob]

Hi folks,

I write a script quickly, what download the outlook page and read info from file. It's not an indicator, it's just a demonstration script to show how to read webpages and process in mql4.

MyFxBookCommunityScript.mq4

[fxdaytrader]

nice job, thanks

[milanese]

Hi ,

I made a small modify so that it can be attached as indicator, user can determinate the PERIOD_REFRESH, I set it 15 min..

Have all a great weekend

Cheers
Tommaso

[fourier]

The two primary issues anyone who tries to remain cognizant with in regards to basing their EA around crowd sentiment is that, you don't know what time frame the "crowd" is trading in. You could be trying to scalp the sentiment of long term traders or the opposite go long term on the sentiment of scalpers. To make matters worse you don't know if some of these people are just "gambling" or are no good at trading to begin with.

The other issue is that when you wait to enter your trade you could be moving into the end of the thrust so you could buy the top or sell the bottom. The interesting thing would be to find if this happened significantly then you could have an EA that fades the move.

I must admit I would love to and have put thought into a similar type of system. Why not benefit from other peoples work!