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Murrey Math
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Created: by Big Mike Attachments:73

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Murrey Math

  #21 (permalink)
Elite Member
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sorry can not export can someone insert .... if you want

 
Code
                Add(new Plot(Color.Red,        "-2/8 - BUY: TP1 @ 0/8, TP2 @ 2/8"));
                Add(new Plot(Color.Red,        "-1/8 - BUY: TP1 @ 0/8th, TP2 @ 2/8"));
                Add(new Plot(Color.Red,        "0/8 - If uptrend, BUY & Exit @ 2/8th"));
                Add(new Plot(Color.Red,        "1/8 - If uptrend, BUY & Exit @ 4/8th"));
                Add(new Plot(Color.Red,        "2/8 - Pivot, Reverse"));
                Add(new Plot(Color.Red,        "3/8 - Bottom - ReEntry Short"));
                Add(new Plot(Color.Red,        "4/8 - Major Support/Resistance Line"));
                Add(new Plot(Color.Red,        "5/8 - Top - ReEntry Long"));
                Add(new Plot(Color.Red,        "6/8 - Pivot, Reverse"));
                Add(new Plot(Color.Red,        "7/8 - If downtrend, SELL & Exit @ 4/8th"));
                Add(new Plot(Color.Red,        "8/8 - If downtrend, SELL & Exit @ 6/8th"));
                Add(new Plot(Color.Red,        "+1/8 - SELL: TP1 @ 8/8th, TP2 @ 7/8"));
                Add(new Plot(Color.Red,        "+2/8 - SELL: TP1 @ 8/8, TP2 @ 7/8"));
            
                Plots[0].Pen = new Pen(Color.Blue, 2);
                Plots[1].Pen = new Pen(Color.Blue, 2);
                Plots[2].Pen = new Pen(Color.Blue, 2);
                Plots[3].Pen = new Pen(Color.Blue, 2);
                Plots[4].Pen = new Pen(Color.White, 2);
                Plots[5].Pen = new Pen(Color.Green, 2);
                Plots[6].Pen = new Pen(Color.DodgerBlue, 2);
                Plots[7].Pen = new Pen(Color.Green, 2);
                Plots[8].Pen = new Pen(Color.White, 2);
                Plots[9].Pen = new Pen(Color.Red, 2);
                Plots[10].Pen = new Pen(Color.Red, 2);
                Plots[11].Pen = new Pen(Color.Red, 2);
                Plots[12].Pen = new Pen(Color.Red, 2);


Last edited by wh; June 22nd, 2009 at 06:39 PM.
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  #22 (permalink)
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Big Mike View Post
PrTester,

Thank you for all of your work on this indicator!! I hope you don't mind, I made a few changes for my personal use and wanted to share in case anyone else benefits from them.

Here is my version, which adds:

- Ability to use Right Margin on chart
- Ability to color the Text Labels differently than the line colors
- Raises the Text Label by 2px so it doesn't touch the line
- Right-aligns the MML text (0/8, 1/8, 2/8 etc)
- Sets default colors to match the colors presented earlier in this thread

Mike

Not at all! do all the mod you want. I think the main idea is that everyone had a nicer, usefull working version :-)

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  #23 (permalink)
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Prtester View Post
Ok guys here is the deal, this is not fully tested, but should work on Range, and Volume Charts, I include some Bool in case you want the pivots to be calculated Hourly. When you guys think is ready we can move it to the download section.
Regards

Prtester, there is something strange going on in regards of Range bars. I get different lines for different interval settings. To replicate try /NQ and set Range to 5 and then switch to 6. I attached two screenshots to illustrate the problem.

Attached Thumbnails
Murrey Math-nq-5-range.jpg   Murrey Math-nq-6-range.jpg  
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  #24 (permalink)
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Eternum View Post
Prtester, there is something strange going on in regards of Range bars. I get different lines for different interval settings. To replicate try /NQ and set Range to 5 and then switch to 6. I attached two screenshots to illustrate the problem.

This behavior is kind of expected due to the calculation structure, it uses High?Low from 200 last bars, 200 Bars (5-Range) != 200 Bars(6-Range), hope that explain the issue.

Regards

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  #25 (permalink)
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Murrey Math Line X — MetaTrader 4 Indicator

Murrey Math Line X

Murrey Math Line X MetaTrader indicator — a pivot line indicator that will definitely help every trader that know how to trade with support, resistance and pivot lines. It displays 8 different lines (with possible additional lines) on the main chart, helping you to find the best points to sell, buy and exit the positions.
Input parameters:

  • P (default = 64) — period in bars or in other periods (set by MMPeriod), on which the lines will be calculated. The lower is the number the more current but less accurate calculations will be.
  • MMPeriod (default = 1440) — a basic period in minutes (60 — for hourly pivots, 1440 — for daily pivots, 10080 — for weekly and 43200 — for monthly); if greater than zero, indicator will use P amount of MMPeriod minutes to calculate its lines. If zero, indicator will use P amount of the current chart bars to calculate its lines.
  • StepBack (default = 0) — a shift back for calculating the lines (in the current bars or in number of MMPeriod (if set) minutes).
  • Other parameters — affect only visual parameters of the lines.
It's easy to use Murrey Math Line X. 0/8P and 8/8P lines are the ultimate resistance and support lines — they are very hard to break. 1/8P and 7/8P lines are weak support and resistance lines, but if the price stopped near them, it will reverse and change direction. 2/8P and 6/8P lines are strong reverse points. 3/8P and 5/8P are the bottom and the top of the average trading range respectively; it is very likely that the price will either pierce this range fast or will remain inside it for a long time. 4/8P is a major support and resistance line; sell and buy when the price crosses it for a certain profit. The blue arrow marks the final calculated bar.


Last edited by Big Mike; June 23rd, 2009 at 03:23 PM. Reason: copied from different thread, has relevance here -- thx
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  #26 (permalink)
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Mike,

Thanks for your work on this.

Did Richard give you any indication if he would add the labels or not?

I added the new MML's on top of my EOT MML's. Both sets of MML's seem to auto-adjust over the course of the dya but there are more EOT MML's at the end of the day. Notice in the screenshot, the EOT MML at 69.14 which doesn't have a matching colored MML.

2009-06-23_2315

The main question I have is...
Can the labels be "left justified" so they aren't sitting right on top of current price action at the right edge of the chart?

Todd

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  #27 (permalink)
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Todd View Post
Mike,

Thanks for your work on this.

Did Richard give you any indication if he would add the labels or not?

I added the new MML's on top of my EOT MML's. Both sets of MML's seem to auto-adjust over the course of the dya but there are more EOT MML's at the end of the day. Notice in the screenshot, the EOT MML at 69.14 which doesn't have a matching colored MML.

2009-06-23_2315

The main question I have is...
Can the labels be "left justified" so they aren't sitting right on top of current price action at the right edge of the chart?

Todd

Yes they can be left justified, would require code changes. I'll look into it if I do any more changes, or maybe PrTester will do them. I like using the right margin chart option for them so am in no hurry to change the code.

The EOT version has more options. Some of which I don't understand, so I am not entirely sure of all the differences between them.

Mike

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  #28 (permalink)
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I also believe there may be a midnight/new day rollover bug.

Twice now, when I had a chart open prior to midnight and midnight came and went, the pivot lines went missing. The text labels remained, oddly enough.

Refreshing the chart actually does NOT bring the lines back. Now two nights in a row, I went to bed before 1am so I am not sure but I feel pretty certain the lines come back @ 1am because they were there waiting for me when I woke up this morning, without refreshing the chart.

I'm using the Hourly setting.

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
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  #29 (permalink)
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Here's a 5 min and 60 min on the ZN. Mike and I were getting some different figures.

Attached Thumbnails
Murrey Math-zn-09-09-6_24_2009-5-min-.jpg   Murrey Math-zn-09-09-6_24_2009-60-min-.jpg  
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  #30 (permalink)
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Mike,

I gotta admit, this murrey math is pretty scarey stuff.

ES snapshot from this morning.

WOW!!!

RJay

Attached Thumbnails
Murrey Math-murreymath.jpg  
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