Hourly Range

[jamespp83]

Hey, does anybody know where I can find a working hourly range indicator?

many thanks

J

 

[Rhody Trader]

Average True Range (ATR) applied to the hourly chart will probably do the trick.

 

[jamespp83]

Thanks but thats not what I asked for

 

[nunrgguy]

I think I might have seen one in one of TROs screenshots that shows the current daily range and average of x number of days. Don't know if there's an hourly one or if you can change that one to hours....

 

[Rhody Trader]

Thanks but thats not what I asked for

Then what are you asking for? An indicator to tell you what the range of the next bar is going to be?

 

[jamespp83]

I think I might have seen one in one of TROs screenshots that shows the current daily range and average of x number of days. Don't know if there's an hourly one or if you can change that one to hours....

I think he uses an hour one but cant find any indicators for this

 

[jamespp83]

Then what are you asking for? An indicator to tell you what the range of the next bar is going to be?

No, an indicator that tells me the average hourly range of the previous bars.

 

[4xpipcounter]

James, if you want to find what the average range of the previous bars are, then take ever how many you are looking at, subtract the highs and lows from each, then divide by the number of bars you are looking at.
Another way is to program the formula on your spreadsheet, then just input the information.

No, an indicator that tells me the average hourly range of the previous bars.

 

[lbranjord]

Hey, does anybody know where I can find a working hourly range indicator?

many thanks

J

This could easily be built. What do you want it for, MT4?

 

[MrGecko]

errr... what is ATR on an hourly chart?

 

[lbranjord]

Every time you post I hear it in the Geiko voice and think about the gecko getting sucked into the envelope tube! Good avatar

 

[4xpipcounter]

How could it easily be built? I'd like ro find out if you could tell me.
The reason I'm asking that is because someone built me an indicator that automatically plots my S&R's on the charts. The only problem is that it does not plot the yearlies, so I'm wondering if it is possible if I could build a program for that part of it.
BTW, I do use the MT4, if that helps.

This could easily be built. What do you want it for, MT4?

 

[lbranjord]

Copy the algorithm that they used for getting those S&R values and apply it to the chart based on how many days are in that year. Problem is, I think that the days in a year may change from year to year based on special circumstances so it may turn into a quagmire. Yours may not be easy but I'll offer any assistance I can.

Keep in mind however, I started MQL4 last week! I'm no expert.

 

[4xpipcounter]

I might be decent with numbers, but I have no idea what I'm doing when it comes to programming.
As far as days in a year are concerned, there is still only 12 months in a year, which is the foundation of its derivation for the yearlies.
Is the MQL4 the software that is used in configuring EA's or other proprietary indicators?

Copy the algorithm that they used for getting those S&R values and apply it to the chart based on how many days are in that year. Problem is, I think that the days in a year may change from year to year based on special circumstances so it may turn into a quagmire. Yours may not be easy but I'll offer any assistance I can.

Keep in mind however, I started MQL4 last week! I'm no expert.

 

[lbranjord]

Ok, send me the indicator and I'll try to build it in if you want. I'll do my best anyhow

Yes - MQL4 is used for building EA's in Metatrader and scripts and indicators