[Blog] Pillaging The Pip - Wax and wick... (part 3)

Talking about our last indicator, it is obvious that the pointer must point the candle which we want it decomposed.

But how about the text? Well, the text can be anywhere, couldn't it? As now we have a triangle to show us which candle is being under microscope, we also can move the pointer vertically, to anywhere. But it still need to point THAT candle we are interested in. But remark here that the text can be anywhere. We even could move the text on time axis. That is to move it on the left, or on the right side of the detailed view.

In this case, how about we paint the detailed view in the middle of the distance between the pointer and the text? That is on price axis, but also on time axis. Got it? On time axis too...

We could have endless possibilities to arrange many views on screen, and even to break apart consecutive candles and arrange the views in such a way that the "combined" view be "continuous". That would be very helpful to spot patterns longer then one candle. Up to now, that was not possible. If we wanted to break apart two consecutive candles, the only way was to place a view above the chart, and another below, or to place both in the same side, but with a vertical distance between them. Otherwise the bars painted by the two views would overpose each other, and would be quite impossible to be read.

Imagine for a second we could move the crap around the screen as me' said. Then we could generate views like the one in the photo:













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Isn't that wonderful? (no trading meaning, just an example how we can arrange them).

'Course it is! Ye will remark now that a new line was added, that connects the text with the pointer. The line is necessary, as now the texts can be anywhere on the screen, and they can get mixed, if more indicators live together on the same chart. Ye better know which text for which pointer is!

Well, here is the toy.


Detail_View_v1.3.mq4 ( 48.5K )
Number of downloads: 0


Remember: now ye have to move both the text (everywhere) and the pointer (on price axis only)! The detailed view will be painted in the middle of the two. Ye still can use scaling, or whatever we discussed before. I hope ye won't mind moving few more objects around, as long as the advantage is HUGE! If ye mind, then use the old version. I won't delete it, that's why I put a separate post.

Fair winds ta ye all!

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[Blog] Pillaging The Pip - Wax and wick... (part 2)

Well, i knew it is not called "string", but me' lazy to look in the ship's dic. Some fellow told me is called wick.. well thanks mate!

Me be back with version 1.2 of the DetailView indicator, that can now update the detail picture dynamic, if the pointer was placed on the last candle. It looks pretty, me like it! Ye can take it from here:


Detail_View_v1.2.mq4 ( 44.92K )
Number of downloads: 0


What's new?

Well.. beside of updating the little chart in real time, as discussed above...

If ye place the pointer on the last candle, then the pointer will track the last candle. When a new candle is formed, the pointer is moved right to it. Ye can have yer last H4 bar now decomposed in H1, M30, M5 or whatever, in real time, in the same time, as shown here:













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Ye'll see also that I added another detail view in the past, that is called "V1=" instead of "DV=". What for? Well, I got a feedback that one can not add two indicators on the same chart. "How were you trying to do it?" I've asked. Well, my man wanted to add on a 30 min chart two or more DV1.1 indicators with EXACTLY THE SAME parameters. Same zoom=3, as his chart was zoom 3 and he need that, then same colors, same "DV=" string, and of course same "M5" as detail TF, as he wanted two different M30 bars to be split in M5 bars.

Well....That is NOT possible. MT4 will not allow you to have on the same chart two indicators with EXACTLY the same name and parameters. What's for??? Try adding 2 EMA(10) and you will see that only one is added, the other one is removed automatically. Of course, you can cheat MT4 by adding 2 EMA with different periods, then change the period later to be the same, because MT4 assigns an unique number to the indicator, once added to the chart, and further on, the indicator is referred by THAT number. But again, does it make sense to have two EMA(10) on the same chart??? No. They will overpose anyhow, and you could see only one, both will paint the same MA line.

Same story runs for our indicator too. You CAN NOT add two DV indicators on chart with EXACTLY same parameters. You MUST change something, for one of them, add it to the chart, then latter press CTRL+I (to get the indicator list, or rightclick and take it from the menu), and change the parameters of one (or both) of them to desired one. However, there is a simple method. You won't like to change the zoom or the target TF, because in this case you won't get the right view you need. Also you don't like to change the colors, not knowing what shades you get for the bars or triagles (remember, they are masked with special binary masks, as explained inside of the source code). So, the only parameter left is the text intended to be displayed. The "DV=" text. You can change this text to something else, and then "Eureka!!" it is ANOTHER parameter. So, you CAN add two indicators on the chart, both of them having same colors, both of them having same zoom (3 in my photo), and both of them showing the same detailed TF (M5 in my photo). Just rename the text of one of them to something else, "V1", "V2", etc. Be inventive!

I was able to add more then 50 detail views to the same chart, and all went ok, just a bit slower then normal. Well, if ye do scalping, do not add 50 DV's on the chart! And well, yes, it is a total crap there, ye can not read anything anymore, but if ye like to have so many... not my business...

Another new feature that I added in V1.2, will allow ye to SCALE the bars. That is, to paint them longer, or shorter, or even reversed (high is low and low is high, if ye use a negative scale). Poseidon knows what in the seven seas you would want to turn the candles upside down, but again, that is not me biz.

Here some pictures. First shows why scaling is useful. Ye have to thank to ener for this feedback, he played with H1 details of D1 candle and found that - because of the HUUUUGGGGEEE price range of D1 chart - the H1 detailed candles look more like dots then like candles... You could not see the spikes, or even shadows, or whatever. That case, what we called "detail" was just "confu-tail" and makes no sense. So I added a scaling factor to the indicator, to be able to extend the small candles. This is the new DetailCandleScale parameter that you will find in the code. Read there the comments about it.

As said, next photo shows same D1 bar, with 2 different details, both details are H1, but one is not scaled (like before), and the second is scaled by a factor of 3. Also, its text parameter was modified to "DV=3" instead of "DV=", to show that. Remember that "H1" is added automatically.













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The image in the clip area is just added there using PaintBrush, and it is a copy/paste of H1 chart for that date. You can clearly see that a scaling factor WAS NECESSARY... , the detail without scaling shows nothing from the real price action, moving direction, or spikes.

Scaling is a "trial" process, like "try and catch" from C++ programming, ye have to try few different values till get the right one, especially if the time frame difference is big (like you try to break H4 into M1, or D1 into M15, or so). Here also the scale should be bigger (we can not really see the shadows, if we compare the clipped area with the detail painting), but the goal of the photo is not to set the best scale factor, but to show you what the scale factor does. Read more comments inside of the source code.

Next photo below is just a sample for a negative scale, where the text was changed too. The scaling factor was set to -3.0 (minus three point zero). The text was set to "DV=-3*". You can see that all the detail bars are... reverted, upside down, well... if ye have some (insane) idea what this could be used for, be my guest!













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Of course, ye can use spaces inside of the text, or after it, and bigger scales too, if they fit yer needs or yer monitor's screen. Like in the last photo here below, where text was set to look nice, like "DV = 2.87 * " (no quotes, but be careful of spaces, we put quotes here to show where the spaces are, i.e. there is a space at the end, that makes the distance between * and M30 - added automatically):















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off topic: ye will remark that the "rounded-top" shown on the detail view in the last photo is in fact a reversed "j-lo" pattern (see investopedia, j-lo), that is forecasting the fall of last candles! If support holds, we expect a big upward jump for the next candles. I would go long in the middle of the long candle under view.

Harrr... land ho! Me be out for me rum...
Happy pipping ye all!



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[Blog] Pillaging The Pip - Breaking the candles in pieces: wax and string :D

Yarrr, ahoy me' pip pillager mates!

Haven't ye miss me? Yeah, I know, not at all... well.. today me be in a good mood! The market seems to be back in shape, and we just went out for booty. We came back with a treasure chest of few hundred pips from our favorite pairs, so now is the time to relax, no need to do any carpenting for our sloops, as they run out of the battle clean, this time.

Now is the time to relax and learn some MQL. Are ye ready? Wouldn't be fine to have a tool to break each candle in pieces? That is to put our magnifying glass on a H4 candle, and see at one all H1 or all M30 candles that added up to the main one in H4? That without searching the smaller time frames by hand. Without spending days and hours to make correspondence between opening date and time in different charts... well... in a work, just click and see?

Could it be useful? Yes it could, as shown in the following sketches:













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or if we switch to a bigger time frame:













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Yarrr... I bet my scimitar ye'll say that looks wonderful... And here is the toy that made the paints, beside of paintbrush program that I used to add the comments:


Detail_View_v1.1.mq4 ( 38.24K )
Number of downloads: 0


Please read carefully all the speeches inside of the source code. You will shot two rabbits with a single bullet (or as a pirate could say, ye'll cut to heads with a single stoke of the blade ....). First, ye have a toy to play with. As usual, my toys are sharp blades, if ye know how to use them. It could save ye a lot of pips. There is a lot of theory behind, about how to use such toy, but that is not the subject of this post. Go read some books. Second, the comments inside are so... didactic, that only a stupid student won't learn how to write his own indicator, by reading them. I spent a lot of time to make all the details and add the right comments. Don't disappoint me!

Have fun! And say thanks when ye port back with yer coffers full of booty...



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[Blog] TheEconomist's Forex Arbitrage Blog - Code release

I'm answering to Pion's request to release the code for BcWin and BcTools. These were both written in Dev-Pascal. I am attaching the pas and project files , as a test script for them too.

Attached File(s)


Source_EXE_DLL.zip ( 4.97K )
Number of downloads: 0




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[Blog] TheEconomist's Forex Arbitrage Blog - Back in trading!

After weeks of making a long, costly and complicated SWIFT transfer , I finally managed to open account with WHC. (Tell you guys that do SWIFT, always wire to the final beneficiary bank, disregarding any info on the corresponding bank). With 10% of equity consumed during this madness , also caused by the fact WHC wasn't quite accepting EUR deposits, as stated on their IB's website, I was almost pissed off. However, their real datafeed is beyond my previous expectations : lots of forex (including the dangerous, but easy tradable USDHKD - easy to forecast due to Hong Kong's monetary council regime), stocks (common and some preferred), all kinds of commodities , indexes and currency futures, with various expiries and some quoted on different exchanges. I didn't have the patience to count all the symbols , so I decided to make a movie about it and uploaded on YouTube:



Presently I'm a bit tired due to various collaborations, hope to start trading as soon as I digest the new trading opportunities given by the new stuff!

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