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50% Balance Point Rule
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Created: by perryg Attachments:31

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50% Balance Point Rule

  #21 (permalink)
Elite Member
Rechovot
 
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OK. Yes it now shows. I must now check the numbers.

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  #22 (permalink)
Market Wizard
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ok, add color, line thickness, line style, and text

4/19 clean up extra code and move text to current day

Attached Thumbnails
50% Balance Point Rule-ym-06-10-4_16_2010-30-min-.jpg  
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Register to download File Type: cs BalanceLine.cs (9.6 KB, 34 views)

Last edited by cory; April 19th, 2010 at 09:52 AM.
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  #23 (permalink)
Market Wizard
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looking good

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50% Balance Point Rule-tf-06-10-4_19_2010-5-min-.jpg  
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  #24 (permalink)
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Cory,

The indicator does not work on currency futures like 6A, 6B, 6E, using Minute charts. On Range charts it works. Why did you hard code the start and end time. Currency work 24 hours. The caluclations should be from DAY to DAY i.e. 00:00 to 23:59. a full calander DAY. I also find that the 50% line is not the same number that I calculate by hand.

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  #25 (permalink)
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no hard code for start/end time it is just left over codes from another indicator. It works for some contracts but not others must be data format something. That is why it put triangles at H/L to see if it marks them correctly.

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  #26 (permalink)
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Balance Point Indicator

Hi perryg,

a suggestion how to obtain the balance points for the last week. Basically you would want to scan the price action for swings and then determine the midrange of the dominating swings. This is nothing else than finding the 50% Fibonacci retracement levels for those swings. To display the balance point you could take the Fib Cluster Indicator (published in the download section of this forum) and exclude the larger swings that date back several weeks. Just set the levels A to E to false, and you will obtain something as shown below. You can all set all other lines to transparent that you do not want to display.

For YM there were two balance points, 1 relating to a 2 day period, the other one to a 4 day-period. You can see them on the chart below.

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50% Balance Point Rule-ym-06-10-60-min-16_04_2010-light.jpg  
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  #27 (permalink)
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I will look at it again. If my data feed is the same, Zenfire, it should work all the time or it should not work at all.

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  #28 (permalink)
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Hi Fat Tails,
I will take a look at your suggestion. Up until now I do it manually. Takes half a minute by taking the highest high and the lowest low of the past 2 days and divide by 2

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  #29 (permalink)
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If you are interested, I can modify the indicator and eliminate the other lines, just leave the 2 of them, LOL. But have a look first.


perryg View Post
Hi Fat Tails,
I will take a look at your suggestion. Up until now I do it manually. Takes half a minute by taking the highest high and the lowest low of the past 2 days and divide by 2


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  #30 (permalink)
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That sounds good. Are you refering to CMIFibcluster_V90 or V91bis

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