How to use the frequency distribution tool

[TheCrumpledOne]

Hi Avery,

I wanted to ask you how can we design our own frequency distribution settings?

This is a simple example:
1) Using the daily EURUSD chart
2) I want to find the wick sizes in pips
3) I like the settings to use the past 300 daily bars, so for the past 300 days.
4) Finally, categorise them into the different sizes:
- 0-1 pips
- 1-5 pips
- 5-10 pips
- 10-20 pips
- 20-100 pips

Having percentages will be good as well. This is a simple example, but I like to learn before having advanced settings on finding the more beneficial statistical figures.

[TheRumpledOne]

Hi Avery,

I wanted to ask you how can we design our own frequency distribution settings?

This is a simple example:
1) Using the daily EURUSD chart
2) I want to find the wick sizes in pips
3) I like the settings to use the past 300 daily bars, so for the past 300 days.
4) Finally, categorise them into the different sizes:
- 0-1 pips
- 1-5 pips
- 5-10 pips
- 10-20 pips
- 20-100 pips

Having percentages will be good as well. This is a simple example, but I like to learn before having advanced settings on finding the more beneficial statistical figures.

You can change the inputs.

[TheCrumpledOne]

Hi TRO,

thanks, but is there a manual on how to adjust the inputs?

please see the pic, I am not sure if the template or indicator is the right one.

right.png (30.3 KiB) Viewed 3989 times

I'm trying to find the info above on the 1st post.

[TheRumpledOne]

Hi TRO,

thanks, but is there a manual on how to adjust the inputs?

please see the pic, I am not sure if the template or indicator is the right one.
right.png


I'm trying to find the info above on the 1st post.

Didn't you get the PDF? The indicator in your chart doesn't have those range inputs.

[TheCrumpledOne]

Yes, i got the pdf. I'll read it again tonight.

One of my ideas is to get 5 pips either buy or sell depending on the previous candle. If previous candle is a down candle I'll sell, if it is an up candle, I'll buy.

I will only enter at the open on a h4 candle for 5 pips.

1. So i want the tool to count all the wicks of the previous 240 h4 candles (2 months of data). Then the average of the 240 candles.

2. I also want the tool to count the body of the h4 candles and average it out.

I hope that this is possible. Getting more stats in our favour.

[roctao]

Yes, i got the pdf. I'll read it again tonight.

One of my ideas is to get 5 pips either buy or sell depending on the previous candle. If previous candle is a down candle I'll sell, if it is an up candle, I'll buy.

I will only enter at the open on a h4 candle for 5 pips.

1. So i want the tool to count all the wicks of the previous 240 h4 candles (2 months of data). Then the average of the 240 candles.

2. I also want the tool to count the body of the h4 candles and average it out.

I hope that this is possible. Getting more stats in our favour.

Hi CrumpledOne, might I suggest you reverse your idea. Its been my experience that h4 open will retrace before continuing. If you are only looking for 5 pips I believe you will get them quicker. Not 100 % of the time but with a plan of what to do in case it goes against you such as HOLO (therumpledone/holo-highest-open-lowest-open-trade-t12931) you will be successful.
Follow M.O."s advice on the last page about taking profit and you will have a winning strategy.
Only don't wish for it. Work for it