"Right Price" Target
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Hi everyone. I am new to this interesting world of FXDREEMA. I wanted to ask: Does anyone know of a method to understand what is the "right price" or price to which it tends to return within hours or a day of a currency? Let me explain better, a person showed me without revealing the code with which he produces this indicator, a price line that changes every hour or so which he calls the "right price" because when the price tends to move away up or down it has calculates the moment with two lines where when it gets to that "resistance" and goes back below, issues a sell order targeting the "right price" line. And so also in the opposite direction. I imagined it was a straight ema of 150 or 200, but that's not the case. It is a weighted average price towards which the cross frequently crosses it upwards and downwards. Does anyone have any idea what it could be? Thanks in advance, and sorry for my bad English.
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Questo è quello che intendo. :
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@Denim There is too much in that to guess how the lines are drawn, if you have the indicator it likely can be added to FX.
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I am sorry. I understand that it is a bit confusing. But that central line called "GP" in Italian "right price" he explained to me that it is the synthesis of the closing price + opening + max24h + min24h +max48h+min48h+volatility + volume. It's tricky to put together, but I've seen it work and it looked very neat. More I can't say.
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@Denim Ok is that the high and low of 24/48? not sure how you would add volatility, what duration is used for volume?
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The timeframe used was M30 so I wouldn't be able to identify the right volume for the 24/48H calculation. Just as volatility always refers to the 24/48h average. This is where I wanted suggestions on how to identify this frequent "attraction" price that was "touched" 1-2 or more times a day from what I saw. Then I guess the "area Buy" and "areaSell" sections are resistances and supports.
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@Denim In my opinion it seems that is based on ATR. If the line changes every hour, then the timeframe used to calculate is 1h, with an ATR of 24. This would calculate an average candle size for 24h, a range, and right price would be the middle of it... ? Maybe :). So basically (maybe) it's an ADR indicator (Average Daily Range)
Anyway, this seems to do what an oscillator would do, and the strategy like a reverse to mean strategy. -
@CPxiom
Is there already an EA based on an ADR indicator?
Or could you at least build the indicator and then build a strategy around it with FX? -
Basically the above indicator has a central MA150 (yellow) 48h and 72h min and max price lines and what the EA is supposed to do is open Buy or Sell positions when the price goes below or above the 48h min or max price and falls. The target is the yellow line. Is it easy to build?
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@Denim You can find ADR indicator with Google, but It was a just a guess that it is ADR. From what you showed, the principle is like a strategy with an oscillator, combined with a revert to mean. These were like suggestions that might duplicate the results another way around.
To build an EA, check the forums, tutorials. It can be done, this is a website to build EAs, it's the reason to be here. You can use objects on chart, like lines, or various indicators, if that is what you're asking. -
boxxocode videos will help you , but strategy based on indicator dont work ,
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Okay. thanks for the tips. I'm really new to FX, and I've tried those simple strategies by copying from some Youtube videos, but what I still haven't learned how to do and haven't found any tips, is how to make the Takeprofit be the achievement of a line like the MA. Furthermore, again to test and understand how it works, I didn't understand how to set the lines of the maximum and minimum of the 24h and 48h and make sure that once they have been crossed and returned, I can issue an order. as I said, I understand that it is not a working strategy, but I don't know which strategy I could bet on to try to develop it with tests. I had asked on another forum what could be one of the best strategies that would allow me to make one or two daily trades (having little time to devote to checking charts and transactions) even of a few pips, but I didn't find any specific advice. If anyone has suggestions, I'm happy to hear.
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since I've been experimenting for a few days, I submit to you the small (unprofitable) and much simpler project that I've started to do that I was talking about which I can't quite understand how it works. Why do the lines of the maximum or minimum and also of the MA150 remain stationary as soon as the negotiation opens? Where am I wrong? Thanks for the help.
shared/QYsxduC8
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I have seen the suggested videos, but I didn't find how I can fix the EA which I did. Does anyone have any practical suggestions or explanations on how this can be done? It should open positions when it breaches and re-enters the low or high line and aim for the magenta EMA as the TP. But I just can't. If anyone can help me I would be grateful. Thank you
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yo una ves hice un bot parecido calculando la media de las ultimas 20 velas y luego hacia que abrira operaciones cuando el precio cruzaba esta linea hacia abajo abria una venta y si la cruzaba hacia arriba abria una compra pero la verdad deje de usarlo porque daba muy pocas entradas y luego con la actualizacion del foro se me borraron todos esos bot
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@Alan-paredes2 I understand. I tried to reproduce this bot because it allows me to make one or two trades a day. Not having much time to devote to trading, I have an indicator that works like this, which constantly points to the distance from the MA and when the price goes over and over in both directions it gives me a signal. I wanted to automate it because in the backtests the results were minimal but progressive. That was enough for me. I haven't found any robots that open one or two daily trades around. I was wondering if it was that hard to at least create the base like I described it, and then work on top of it to add endings and stuff. I understand that I would have to study all the FX voices and figure out how each one works to make that happen, but it would take me too much time. having at least the basis and seeing why it works this way would help.
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@Denim In EAs, always use candle ID 1, not 0, otherwise, candle ID 0 not being closed, it will repaint, or calculate wrongly. So: more settings > CandleID 1, to draw the lines, or to reference the ma 150.(candleID1), but you could use the 150 ema directly, why draw the line... just for visual representation maybe.
The Horizontal lines can have a prefix, it could be Highest & Lowest... then you can reference those lines based on the prefix. Angle 90.
Marker property Ask / Bid is based on tick ID, so it can be tick ID 2 is above "Highest"(prefix) line, tick ID 1 is below. Edit: But it's not necessary. U could use Ask / bid X> crosses above / below the line, or candle close, or MA1, depends on the strategy.
To close: If trade> condition block with ema 150 cross over up for buys, down for sells > close trades.
Also put a stop loss in place...
Range strategies will certainly lose at one point, when the trend will happen. Usually for u it will be a trigger for sell, but the price will break out then the uptrend will happen with you in a loss.As for strategies... I guess it will take a period to check out indicators, styles of trading, then you will have preferences, and hone in slowly.
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Candle ID 0 close is the current price
