thread: Price Density Index

Here is an indior I have not seen around here. Not sure it can be achieved for MT4 or not, together with the way it handles arrays... but basically it's this.

Input: Number of moments

Go to the M1 and fold back thru the input quantity of moments, and for every time a price seems within a pub (between high and low, inclusive) you increment a count for that price (within a range). Repeat thru all entered bars.

This gives you a count of the amount of pubs that contained a specific price during the past X seconds (or hours or however long) letting you clearly see places of congestion for a specific price. For instance an index over 20 would mean a comparative area of support or resistance vs an area of 0 or 1, that would indie practically none.

Use either as a indior that paints regions based on index (green for low, orange for mid, red for large, whatever) or as usage in a trend following system to never take transactions while in a tight range.

Anyone think they're up to the challenge?

Https://www.cliqforex.com/trading-sy...r-ea-free.html

Calculation not created in array yet, still a direct write to polygon. Maybe it could be modified by you.

This seems quite much like the market profile, only MP records volume traded at each price.

I am attaching an indior which will market profile, it needs to be easy to change to make it do what you desire.

Thanks for this, looks interesting.

Nice indior, thank you for submitting,
Could it be smoothed out or some thing to make it somewhat better to see
the high points or some type of line about it may ensure it is wiser to watch

its somewhat difficult when it's fuzzy appearing

It fuzzy appearing because it's printing the true number of occourances for each price. It is possible to change it to a point if you prefer, I would rather see the numbers. I've played about with it a little bit... it seems to work pretty good in determining the course of least resistance for scalper systems. Not very useful on time frames.

Does such a beast exist anywhere else that you're aware of? You're describing an indior which would paint circles or zones of S/R that is horizontal, right? Strongest nearer the center of those zones and becoming weaker as one moves outward (higher/lower)? At least that's what I'm imagining.

This seems quite much like the market profile, only MP records quantity traded at each price.

I am attaching an indior that will market profile, it ought to be easy to change to make it do exactly what you want.
https://www.cliqforex.com/attachment...1741984523.mq4

Does such a beast exist anywhere else that you're aware of? You are describing an indior which would paint zones or bands of S/R that is horizontal, correct? Strongest closer the middle of those zones and getting weaker as one moves outward (higher/lower)? At least that's what I am envisioning.

Nod. I am simply not certain how to get MT4 to make the arrays of it act as a hash.

This seems quite much like the market profile, just MP records quantity traded at each price.

Cool, thanks I'll check it out.

Aren't there other ways to store the values other than in a variety? Worst case, couldn't you read/write into something or an mdb or xls file?

I think this could possibly be a very useful indior.

Have not had an opportunity to work on this one yet. It has been in my mind and I think it will show some insight to the market. Not certain when I could get to it.

What I see for this indior is one which shows in a seperate window such as cci or stochastics. This will provide you the ability to look back in history to find out if the indior is supplying the information.

What I want to know is to previous candles or even the current candle do you wish to utilize the large, low, open, close or maybe a median value of the candle or some other value.

is in da house!

I knew there'd be at least one of you men who would eventually rise to the challenge!