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Murrey Math
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Created: by Big Mike Attachments:73

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Murrey Math

  #121 (permalink)
 Vendor: www.integrity-traders.com 
East Rochester, NY
 
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eDanny's Avatar
 
Posts: 327 since Jul 2009
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You would need to use a DataSeries in the statement, something like this:

if(CrossBelow(Close, mml4, 1)) PlaySound(@"Alert1.wav"); <--- untested

You also had a mismatch of parenthesis.

Dan

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  #122 (permalink)
Just starting out...
oklahoma city ok
 
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Murrey Math comment

my binary comment..(2cents)

using MM is like panning for gold nuggets with a screen. Smaller screens help you catch the small pips, and larger screens will help you only with larger nuggets.

Screen mesh is the view, ie: weekly would be screen mesh of 600 pips for example, whereas a 15min chart would have screen mesh of approx 40 pip sizes.

So if you are only interested in 20-100 pip trading then you need to drop down time-wise into a math view that uses smaller pip spreads for the MM lines.

if you study the MM concept , you will see that lines can be 19 or 39 or 156 or maybe even 312 pips apart, its all in what view you want to use, so now we are back to the idea of screening for gold....use the screen size that suits your gold, ummm (goal) !!

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  #123 (permalink)
Elite Member
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Hi there,
i noticed your favorite is the CL do you have a version on the MML that works best for that.
thanks

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  #124 (permalink)
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Futures Experience: Beginner
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Would anyone know if there is a Murrey Math indicator code for the ThinkOrSwim platform? I'm new to this indicator and it seems that there is some resemblance to the Fibonacci indicator.

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  #125 (permalink)
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Big Mike View Post
Jura,

I'm no longer using Murrey Math. I'm focused more on just pure price action. ... If MM works for you, then keep using it by all means! Personally, I think it works for you not because of the math, but because you've learned to see price patterns with the help of MM's lines.

Enjoy

Mike

Mike,

Do you still have the MML strategy you were working on a few months/about a year ago?

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  #126 (permalink)
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Trader.Jon View Post
Mike,

Do you still have the MML strategy you were working on a few months/about a year ago?

I'm not sure.

Mike

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  #127 (permalink)
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Big Mike View Post
I'm not sure.

Mike

Mike,

IF you run across it, and can remove anthing that is proprietary, it might be useful to some of us interested in useing MML in different ways.

TIA!
Jon

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  #128 (permalink)
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I came across the Murrey Math indicator code for TradeStation; however, since I don't have TradeStation I can't open it. I would like to try to translate it to TOS; since TradeStation's EasyLanguage code has been easier to translate than other codes. If someone has TradeStation, could you load it and then save it as a text file for me to look at? See attachment.

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Register to download File Type: eld MURREYMATH.ELD (14.1 KB, 129 views)
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  #129 (permalink)
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StockJock

here you go
Downloads - NinjaTrader 6.5 Indicators - Murrey Math Lines - Big Mike's Day Trading Forum

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  #130 (permalink)
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I haven't found any guidelines on the development of the Murrey Math indicator and I haven't tried any translation from another platform. Below is a DRAFT thinkscript code for the TOS platform. If anyone has any comments to improve the logic I used in this code please reply. Probably one of the main issues I need to verify is what price range is used for the 8 levels. This first attempt at the code uses the daily high and low which will change during the day. Otherwise it seems that all it basically does is to partition a price range into different levels just like the Fibonacci Retracements does.

 
Code
# SJ_Murray'sMathHarmonics
def showOnlyToday = yes;
def RangeHigh = high(period = "DAY")[0];
def RangeLow = low(period = "DAY")[0];
def RangeSize = AbsValue(RangeHigh - RangeLow);
def MMLevel8 = 8 / 8;
def MMLevel7 = 7 / 8;
def MMLevel6 = 6 / 8;
def MMLevel5 = 5 / 8;
def MMLevel4 = 4 / 8;
def MMLevel3 = 3 / 8;
def MMLevel2 = 2 / 8;
def MMLevel1 = 1 / 8;
def MMLevel0 = 0 / 8;
def TimeCondition = IsNaN(Close[-1]) and !IsNaN(close[0]);
def MML8 = RangeHigh;
def MML7 = RangeLow + RangeSize * (MMLevel7);
def MML6 = RangeLow + RangeSize * (MMLevel6);
def MML5 = RangeLow + RangeSize * (MMLevel5);
def MML4 = RangeLow + RangeSize * (MMLevel4);
def MML3 = RangeLow + RangeSize * (MMLevel3);
def MML2 = RangeLow + RangeSize * (MMLevel2);
def MML1 = RangeLow + RangeSize * (MMLevel1);
def MML0 = RangeLow;
plot Level8;
plot Level7;
plot Level6;
plot Level5;
plot Level4;
plot Level3;
plot Level2;
plot Level1;
plot Level0;
if showOnlyToday and !IsNaN(close(period = "DAY")[-1])
then {
Level8 = Double.NaN;
Level7 = Double.NaN;
Level6 = Double.NaN;
Level5 = Double.NaN;
Level4 = Double.NaN;
Level3 = Double.NaN;
Level2 = Double.NaN;
Level1 = Double.NaN;
Level0 = Double.NaN;
} else {
Level8 = MML8;
Level7 = MML7;
Level6 = MML6;
Level5 = MML5;
Level4 = MML4;
Level3 = MML3;
Level2 = MML2;
Level1 = MML1;
Level0 = MML0;
}
Level8.SetDefaultColor(color.cyan);
Level8.SetStyle(curve.Short_Dash);
Level8.HideBubble();
AddChartBubble(TimeCondition , Level8, "Top of Octave = 8/8ths: Hardest line to rise above (overbought)", color.cyan, yes);
Level7.SetDefaultColor(color.cyan);
Level7.SetStyle(curve.Short_Dash);
Level7.HideBubble();
AddChartBubble(TimeCondition , MML7, "7/8ths Fast Reversal line: weak",
color.yellow, yes);
Level6.SetDefaultColor(color.cyan);
Level6.SetStyle(curve.Short_Dash);
Level6.HideBubble();
AddChartBubble(TimeCondition , MML6, "6/8ths Pivot Reversal line: ", color.pink,
yes);
Level5.SetDefaultColor(color.cyan);
Level5.SetStyle(curve.Short_Dash);
Level5.HideBubble();
AddChartBubble(TimeCondition , MML5, "5/8ths Upper Trading Range: ",
color.green, yes);
Level4.SetDefaultColor(color.cyan);
Level4.SetStyle(curve.Short_Dash);
Level4.HideBubble();
AddChartBubble(TimeCondition ,MML4, "4/8ths Major Reversal line", color.cyan, yes);
Level3.SetDefaultColor(color.cyan);
Level3.SetStyle(curve.Short_Dash);
Level3.HideBubble();
AddChartBubble(TimeCondition ,MML3, "3/8ths Lower Trading Range: ", color.green, yes);
Level2.SetDefaultColor(color.cyan);
Level2.SetStyle(curve.Short_Dash);
Level2.HideBubble();
AddChartBubble(TimeCondition ,MML2, "2/8ths Pivot Reversal line:", color.pink, yes);
Level1.SetDefaultColor(color.cyan);
Level1.SetStyle(curve.Short_Dash);
Level1.HideBubble();
AddChartBubble(TimeCondition ,MML1, "1/8ths Fast Reversal line: weak", color.yellow, yes);
Level0.SetDefaultColor(color.cyan);
Level0.SetStyle(curve.Short_Dash);
Level0.HideBubble();
AddChartBubble(TimeCondition ,MML0, "0/8ths Baseline: Hardest line to fall below (oversold)", color.cyan, yes);

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