Murray Math lines

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Murray Math lines

Postby Nikolay.Gekht » Sun Apr 11, 2010 8:24 pm

MurreyLines.png


Please, find the detailed explanation of the Murray Math lines technique here: http://www.foretrade.com/MM_description.htm

The short description of the lines is below:
Tim Kruzel wrote:Characteristics of MMLs

* Since, according to Gann, prices move in 1/8's, these 1/8's act as points of price support and resistance as an entity's price changes in time. Given this 1/8 characteristic of price action, Murrey assigns properties to each of the MML's in an a given octave. These properties are listed here for convenience.


* 8/8 th's and 0/8 th's Lines (Ultimate Resistance)
These lines are the hardest to penetrate on the way up, and give the greatest support on the way down. (Prices may never make it thru these lines).


* 7/8 th's Line (Weak, Stall and Reverse)
This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse down fast. If prices do not stall at this line they will move up to the 8/8 th's line.


* 6/8 th's and 2/8 th's Lines (Pivot, Reverse)
These two lines are second only to the 4/8 th's line in their ability to force prices to reverse. This is true whether prices are moving up or down.


* 5/8 th's Line (Top of Trading Range)
The prices of all entities will spend 40% of the time moving between the 5/8 th's and 3/8 th's lines. If prices move above the 5/8 th's line and stay above it for 10 to 12 days, the entity is said to be selling at a premium to what one wants to pay for it and prices will tend to stay above this line in the "premium area". If, however, prices fall below the 5/8 th's line then they will tend to fall further looking for support at a lower level.


* 4/8 th's Line (Major Support/Resistance)
This line provides the greatest amount of support and resistance. This line has the greatest support when prices are above it and the greatest resistance when prices are below it. This price level is the best level to sell and buy against.


* 3/8 th's Line (Bottom of Trading Range)
If prices are below this line and moving upwards, this line is difficult to penetrate. If prices penetrate above this line and stay above this line for 10 to 12 days then prices will stay above this line and spend 40% of the time moving between this line and the 5/8 th's line.


* 1/8 th Line (Weak, Stall and Reverse)
This line is weak. If prices run down too far too fast, and if they stall at this line they will reverse up fast. If prices do not stall at this line they will move down to the 0/8 th's line.


* Completing the square in time requires the identification of the upper and lower price boundaries of the square. These boundaries must be MML's. The set of all possible MML's that can be used as boundaries for the square were specified with the selection of the scale factor (rhythm) SR. Given SR, all of the possible MMMI's, mMMI's, bMMI's and MMML's, mMML's, and bMML's can be calculated as shown above. The following rules dictate what the lower and upper boundaries of the square in time will be.


MurreyLines.lua
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Historical MurreyLines.lua
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Candle By Candle Murrey Lines.lua
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Murray Math lines based strategy
viewtopic.php?f=31&t=65388

The indicator was revised and updated
Nikolay.Gekht
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Re: Murray Math lines

Postby Laurus12 » Mon Apr 12, 2010 9:50 am

Thanks for a great indicator. :) I am wondering if is possible to move the labels for the lines a couple of notches more to the right? The way it is now the active bar or candle gets hidden behind the labels.

Thanks,
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Re: Murray Math lines

Postby thetruth » Fri Oct 22, 2010 8:18 am

i move the labels, with just some spaces in code.
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MurreyLines.lua
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Re: Murray Math lines

Postby Laurus12 » Sun Oct 31, 2010 4:30 pm

Thank you very much Thetruth :)
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Re: Murray Math lines

Postby Jigit Jigit » Thu Nov 04, 2010 1:47 pm

Thanks a million guys. It looks really promising.

Please forgive me perhaps a silly question...

How does it paint its lines?
Are the lines on the historical data repainted once a new high appears?
Is it possibly to test it manually on historical data?

Cheers everybody
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Re: Murray Math lines

Postby leftygolfer » Fri Dec 03, 2010 5:43 am

Thanks so much for this indicator - love it. One more question:

Would it be possible to display the actual price along the label e.g "[4/8] - 1.3184"

Sorry, I'm not a programmer, but this would be a great feature. Thanks much again ;)
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Re: Murray Math lines

Postby Apprentice » Fri Dec 03, 2010 6:04 am

Yes it is possible,
we'll add this as an option.
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Re: Murray Math lines

Postby sniper012 » Sun May 08, 2011 6:11 pm

I have a request. Hopefully it is possible to add an actual price value to the lines. It's kinda like you have to estimate the actual price value. Let's say that you are using the 8/8 line as a target, it would just be helpful if we could see exactly what the price was at that level.
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Re: Murray Math lines

Postby Apprentice » Mon May 09, 2011 3:56 am

Your request has been added to developmental cue.
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Re: Murray Math lines

Postby leftygolfer » Mon May 09, 2011 2:35 pm

Try this one for a start ... it's my first fxcodebase project, so please be kind ;)
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MurreyLines.lua
MML with actual price values
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