P&F charts suck, don't use them...

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bredin
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Postby bredin » Fri Sep 23, 2011 2:51 am

Before theres too much excitement.....

there are some errors that I need to address:
the damn thing isnt updating live past the end of the current bar...
the candles being produced are not identical to the tester lines the indi draws on the base chart
and finally it gets some wrong for no apparent reason...
I will see how much of this I can adress by the close of the market tomorrow morning

G. (that screaming you hear it probably just me)
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Postby bredin » Fri Sep 23, 2011 2:55 am

at this stage im not sure that a tolerance wont actually increase variability...
consider that al that is going to happen is that the point of difference moves from .0000 to .00005 so now some guys .00006 goes up and on the other broker they say .00004 and it doesnt... you'll still have the same issue.

G.
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Postby PebbleTrader » Fri Sep 23, 2011 3:40 am

We believe in you Bredin!

The known errors will soon be solved.

:)
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MightyOne
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Postby MightyOne » Fri Sep 23, 2011 3:56 am

If price goes within a half pip of a line I consider it hit; in fact that is how I have been plotting the USDCAD.

For price spikes I plot in the direction of the trend and then the reversal if price closes lower than the reversal amount.

If it is possible to plot new X's & O's, with the same candle, then I assume "wrong way" first.

These situations are rare as most of the time price is moving sideways and I am playing with my Chess pieces. (http://www.chessmasterschool.com/)

I am not a coder, but I'd assume that you would tell the software to plot from x starting date attaching the first box to the line (like CC) & then set the "closing price" to the highest ten level.

"open = previous close" to plot the next column.

Don't yell at me ;)

I don't understand no one out there can code an accurate P&F indicator...

I believe in you Bredin! =)

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Jalarupa
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Postby Jalarupa » Fri Sep 23, 2011 4:53 am

bredin wrote:Before theres too much excitement.....

the candles being produced are not identical to the tester lines the indi draws on the base chart
and finally it gets some wrong for no apparent reason...
I will see how much of this I can adress by the close of the market tomorrow morning

G. (that screaming you hear it probably just me)


Hey G,

I just tried to quantify my understanding of the MT4 and the indicator into words and realized I wrote a whole bunch of stuff that may just confuse this issue... So I scrapped it... Instead I'll ask a question that maybe will help us to come to some sort of understanding of the trials and troubles you face with this indicator... Cause I know MT4 is a linear piece of software with massive limitation, so here goes...

I noted that on the other MT4 indi's there was a vertical y-axis plotted to attempt to eliminate the effect of time on the data, what method have you used to eliminate time from the equation when the indi draws its boxes...?

Also have you tried to code a grid type overlay for this indi so that your candle indi would or could attach itself to values on this grid...?

The grid could outline itself according to user preference... 5 pip boxes, 10 pip boxes etc... and then the indi magically - and I say this with the utmost respect and jest as well as I can hear your screaming ;-) plots the candles onto this grid at the start of a new y value, because the way I am imagining it now you may be lining up the y value of the indi based on timeline co-ordinates or even based on physical candle positions on the chart which could be giving confusion to the overall plotting of the PnF...

If I am wrong please don't mind my attempt to understand what you are going through...

May the Force be with you ;-)

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bredin
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Postby bredin » Fri Sep 23, 2011 5:27 am

if I can illustrate one of the difficulties (which I have got a workaround for)...

Image

which is caused by the MT4 M1 chart.... this would be so much easier with tick data.....

yes I am simply starting at the start of the M1 data feed and moving to the most recent data.... but sometimes MT4 does funny things.... I am going to have to take a closer look at whats going on.....

Image

I have no Idea why it drew that red line wrong (should close 1 box lower), especially since it drew it right the first time, then got it wrong on the next bar....

as for why it stops updating I have no idea either... but a quick rewrite is in order...

theres some other oddness where the lines get drawn right, but the file gets written wrong, which stumps me cos its the same data :lol:

edit: Jal, the timeline is set by the time of the reversal, ie bar open time... whatever and whenever that is.

G. ("O.K. Elvis, back to the mines!" ... with prizes for guessing where the quote comes from)
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Postby MightyOne » Fri Sep 23, 2011 7:03 am


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Jalarupa
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Postby Jalarupa » Fri Sep 23, 2011 7:54 am

MO I think you may have just cracked this conundrum on its head... I love your chart!

But yeah scale would be nb in that case.

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Postby PebbleTrader » Fri Sep 23, 2011 11:08 am

Here is the good news, it is POSSIBLE!

I successfully wrote a program that will take MT4 M1 history file and will plot the PnF on an Excel sheet. All you have to do is run a macro in Excel and it plots it all out, sizes the columns and rows, and draws only the needed price scale based on the highest high and lowest low in the history file. It matches the manual PnF I had been filling in since the start of the week.

I've been working on the program for about 8 hours straight and just now got it to match the manual ones we are doing. It was more difficult to code than I had expected :)

I am much more interested in MT4 indi plotting it for us. So I am cheering Bredin on! :) Go Bredin! Go Bredin! :)

For now, this macro beats doing it manually :) LOL

Just run the macro and poof! weeks worth of 1M data plots out before your eyes in less than a second!
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PebbleTrader
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Postby PebbleTrader » Fri Sep 23, 2011 11:10 am

PS,

It also has a 1/2 pip tolerance built in :)

I actually needed to have that if it was going to match my manual ones I had been using discretion on...
Life is just a journey

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