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 Post subject: WRB Analysis via MT4 Indicator
PostPosted: Sun Apr 04, 2010 4:35 pm 
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Joined: Wed Mar 31, 2010 10:59 am
Posts: 17
Hi Mark,
I have read all 3 free chapters. And I have to admit that I am very impressed by the level of detail that you use for determining the patterns. They were so "DEFINED" that I couldnt stop myself programming it. 8-) And I have to say if you dont have the extra experienced eagle eyes, without an indicator it is not very easy to see every Hidden Gap or WRB. That process definitely needs attention manually.
So instead of writing sentences here, as a demonstration of knowledge I wrote an Metatrader4 indicator. This indicator identifies WRB candles and puts a small diamond in the middle of the candle body. It also identifies Hidden Gaps and starts a box to the right of the chart until it is totally filled.

I will not post this indicator to other forums as I know you are very strict and sensitive about your documents. I tried to attach here but mq4 extension is not allowed. I was going to post it by changing its extension to txt (as mq4 files are text source code) but then I thought maybe you deliberately disabled it. If this is not the case and you think this indicator can be helpful to other people who use MT4 on this forum I will attach it as txt later.

Ok here is a screenshot of my "Demonstration of Knowledge" of Chapter-1. LOL
Aqua diamonds are WRBs and blue zones are hidden gaps.
Attachment:
dok1.gif
dok1.gif [ 28.35 KiB | Viewed 446 times ]


And, yes I know NOT all of these zones are S/R zones. This indicator is just showing every HiddenGaps until they are totally filled.
And doesnt it have flaws? It sure does. And thats the only place actually I got a little bit confused while I was programming it. The situation where we have real GAPs not hidden.
Pls look at the below image.
Attachment:
dok2.gif
dok2.gif [ 17.11 KiB | Viewed 5788 times ]

The start of the month gapped down. So I know that if there is an unfilled HiddenGap area coming from the previous month this gap down doesnt mean it is filled.
I should have wait until the real price action come into that zone and actually fill it. My Indicator doesnt do that right now. it doesnt identifies real gaps. It simply thinks if price is in that level that means that area should have been filled by price action and closes any unfilled hidden gaps hovering in that area. Maybe later I will try to correct it. But this is not where I got confused. What about the first candle of the new month. Candle is definitely a WRB. But is it also a hidden gap like I draw with yellow box? I believe it is a hidden gap but I would like to hear your confirmation.
And how should we treat real gaps(gray box)? Should we draw them like hidden gaps? Or should they be treated differently?


My next assignment would be trying to create a code to automatically identify
a-)Swing Point Price Actions (both types)
b-)Strong Continuation Price Action (both types)
from chapter2. I believe these two key patterns which are used as S/R zone verifiers not only used in chapter2 and chapter3 but also in other chapters.

Thanks again for this great knowledge.

Akif,


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 Post subject: Re: Demonstration of Knowledge of Chapter-1 with MT4 Indicator
PostPosted: Tue Apr 06, 2010 6:27 pm 
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Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2974
Location: Canada
Hi,

I've now added the .mq4 extension so that you can post it here for others to use if they are interested. Heck, it may open the door for Metatrader4 users to share program codes of the tutorial chapters even though I myself don't use codes nor Metatrader4.

Yes, the details for the swing points and strong continuation price actions has allowed others that's into program to have defined rules for programing into whatever coding software they're using. I agree, in the beginning it's not easy to see WRB or WRB Hidden GAPs form in real time price action. However, in time with practice...it does become a lot easier especially as a trader begins to develop favorites among the different types of WRB Zones. For example, some clients only pay attention economic reports because they have a deep understanding of economics. In contrast, other clients only pay attention to tutorial chapter 3 because it merges well into whatever trade signal strategies they're using. One of my favorites is tutorial chapter 8 and 7 although it wasn't such prior to 2009 or prior to the financial collapse in the markets.

My point is that if/when you become a client of the WRB Analysis Tutorials 1 -12...some chapters you'll be more comfortable with than others along with developing faster reaction skills to some chapters in comparison to other chapters. For example, the tutorial chapter I react the fastest to in real time trading conditions is tutorial chapter 12 involving trend lines.

By the way, I want to make sure others understand that there's a choice (option) to use either the body area of the WRB or the actual Hidden GAP area of the WRB as a zone...neither has an advantage over the other in my own research. Your code is using the Hidden GAP area and a particular type of real gap.

Yeah...there's something weird (confusing) with how your code highlighted that yellow area on the second chart as a Hidden GAP area because it's not a Hidden GAP area. As for your question about the real gaps shown in the gray highlighted area...that's actually one of the advance tutorial chapters and I can only discuss that specific real gap price action with clients involving a particular type of real gap that has the exact same characteristics of a WRB Hidden GAP.

Best Regards,
M.A. Perry
http://www.thestrategylab.com

vwap_trader wrote:
Hi Mark,
I have read all 3 free chapters. And I have to admit that I am very impressed by the level of detail that you use for determining the patterns. They were so "DEFINED" that I couldnt stop myself programming it. 8-) And I have to say if you dont have the extra experienced eagle eyes, without an indicator it is not very easy to see every Hidden Gap or WRB. That process definitely needs attention manually.
So instead of writing sentences here, as a demonstration of knowledge I wrote an Metatrader4 indicator. This indicator identifies WRB candles and puts a small diamond in the middle of the candle body. It also identifies Hidden Gaps and starts a box to the right of the chart until it is totally filled.

I will not post this indicator to other forums as I know you are very strict and sensitive about your documents. I tried to attach here but mq4 extension is not allowed. I was going to post it by changing its extension to txt (as mq4 files are text source code) but then I thought maybe you deliberately disabled it. If this is not the case and you think this indicator can be helpful to other people who use MT4 on this forum I will attach it as txt later.

Ok here is a screenshot of my "Demonstration of Knowledge" of Chapter-1. LOL
Aqua diamonds are WRBs and blue zones are hidden gaps.
Attachment:
dok1.gif


And, yes I know NOT all of these zones are S/R zones. This indicator is just showing every HiddenGaps until they are totally filled.
And doesnt it have flaws? It sure does. And thats the only place actually I got a little bit confused while I was programming it. The situation where we have real GAPs not hidden.
Pls look at the below image.
Attachment:
dok2.gif

The start of the month gapped down. So I know that if there is an unfilled HiddenGap area coming from the previous month this gap down doesnt mean it is filled.
I should have wait until the real price action come into that zone and actually fill it. My Indicator doesnt do that right now. it doesnt identifies real gaps. It simply thinks if price is in that level that means that area should have been filled by price action and closes any unfilled hidden gaps hovering in that area. Maybe later I will try to correct it. But this is not where I got confused. What about the first candle of the new month. Candle is definitely a WRB. But is it also a hidden gap like I draw with yellow box? I believe it is a hidden gap but I would like to hear your confirmation.
And how should we treat real gaps(gray box)? Should we draw them like hidden gaps? Or should they be treated differently?


My next assignment would be trying to create a code to automatically identify
a-)Swing Point Price Actions (both types)
b-)Strong Continuation Price Action (both types)
from chapter2. I believe these two key patterns which are used as S/R zone verifiers not only used in chapter2 and chapter3 but also in other chapters.

Thanks again for this great knowledge.

Akif,


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 Post subject: Updated WRB-HG MT4 Indicator
PostPosted: Wed Apr 07, 2010 5:59 am 
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Joined: Wed Mar 31, 2010 10:59 am
Posts: 17
Ok here is the updated mt4 WRB-HG indicator.
Attachment:
WRB_HG.mq4 [8.96 KiB]
Downloaded 640 times

It kept me awake up to 3 am in the morning but I believe it was worth the effort. This looks like solid now.
I have corrected the problems that I have mentioned. Also I added some extra functionality like when colored areas overlaps the area changes color to background(very confusing) so now there is an option to choose which color to use if indicator sense overlapping.
I am open to suggestions, improvements and bug-fixes.
Attachment:
wrb-hg_solid.gif
wrb-hg_solid.gif [ 17.59 KiB | Viewed 5746 times ]


Enjoy.
Akif,

BTW Mark, I might have questions for having more strict definitions of Swing Point and Continuation price actions.


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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Fri Apr 09, 2010 7:38 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2974
Location: Canada
Hi,

The price action definitions are my personal definitions for those traders that either don't have their own or do not know the difference between a swing point and a continuation price action. Simply, they are not required for use if a trader has their own price action definitions for a swing point or continuation price action.

However, I welcome your own additions to the definitions.

Best Regards,
M.A. Perry

vwap_trader wrote:

BTW Mark, I might have questions for having more strict definitions of Swing Point and Continuation price actions.


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 Post subject: Re: Demonstration of Knowledge of Chapter-1 with MT4 Indicator
PostPosted: Tue Oct 01, 2013 2:16 am 
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Joined: Thu Jul 18, 2013 3:52 pm
Posts: 1
Hello vwap_trader

Nice indicator [ec39] [ec39] [ec39]


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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Fri Dec 13, 2013 1:13 pm 
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Joined: Sun Dec 08, 2013 5:01 pm
Posts: 10
vwap_trader wrote:
Ok here is the updated mt4 WRB-HG indicator.
Attachment:
WRB_HG.mq4

....
I am open to suggestions, improvements and bug-fixes.
Attachment:
wrb-hg_solid.gif


Enjoy.
Akif,
..


Hello Akif
What are two different colors for HG? Can you add option to chose filled rectangles?

Thank you for great indicator, it helps a lot.


Last edited by buytosell on Fri Dec 13, 2013 1:16 pm, edited 1 time in total.

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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Thu Jan 16, 2014 6:35 am 
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Joined: Wed Mar 31, 2010 10:59 am
Posts: 17
buytosell wrote:
Hello Akif
What are two different colors for HG? Can you add option to chose filled rectangles?

Thank you for great indicator, it helps a lot.


Hi buytosell,

In metatrader when two areas with the same color overlaps, that overlapped area turn into background color. (negating a color with itself is zero)
Indicator tries to overcome this by changing the color of the second zone when it detects overlapping zones.

Akif,


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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Wed Feb 12, 2014 1:25 pm 
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Joined: Sun Dec 08, 2013 5:01 pm
Posts: 10
vwap_trader wrote:
buytosell wrote:
Hello Akif
What are two different colors for HG? Can you add option to chose filled rectangles?

Thank you for great indicator, it helps a lot.


Hi buytosell,

In metatrader when two areas with the same color overlaps, that overlapped area turn into background color. (negating a color with itself is zero)
Indicator tries to overcome this by changing the color of the second zone when it detects overlapping zones.

Akif,


And last question: Did you code automated detection of swing and continuation in latest version of WRB_HG for MT4?

Thank you.


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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Fri Feb 14, 2014 10:24 am 
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Joined: Sun Dec 08, 2013 5:01 pm
Posts: 10
vwap_trader wrote:
buytosell wrote:
Hello Akif
What are two different colors for HG? Can you add option to chose filled rectangles?

Thank you for great indicator, it helps a lot.


Hi buytosell,

In metatrader when two areas with the same color overlaps, that overlapped area turn into background color. (negating a color with itself is zero)
Indicator tries to overcome this by changing the color of the second zone when it detects overlapping zones.

Akif,



Hello Akif

Well, a few more questions:

Can you make optional to have not filled rectangles?
Can you make alert?

Can you convert it to MT5?

Thank you for your time.


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 Post subject: Re: Updated WRB-HG MT4 Indicator
PostPosted: Wed Apr 30, 2014 7:12 am 
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Joined: Wed Mar 31, 2010 10:59 am
Posts: 17
Hi,

I did some development along that way but it is really hard to code some concepts.
For example,
Code:
…continuing and then fills in the price action of any prior WRB Hidden GAP that was unfilled…

To code this you are searching backwards to look for unfilled HiddenGap but how far back you need to look for?
Until you find the previous swing point?
It is not clear in the tutorial as far as I know. But this is not the problem. Lets say it is so.
Main problem is how to find the previous swing points? Because we are trying to DEFINE swing point NOW.

Likewise
Code:
"...prior to the next swing point"
.
But we are now in the definition of the swing point itself. How can I find the next swing point? This is the DEFINITION requiring the DEFINED!
I know it is a bit confusing. Or maybe I am not capable of implementing it. For me it is like a chicken egg problem.
Rules of the pattern requires the pattern itself. Something recursive...
For the naked eye it is much easier to catch but coding is really hard.

So lets say as of now the indicator is not complete and not in a releasable state.

Maybe Mark is right, instead of codes use your eye. With practice it is better than computers.


Akif,

[/quote]

And last question: Did you code automated detection of swing and continuation in latest version of WRB_HG for MT4?

Thank you.[/quote]


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