Murrey math lines

[brianh]

I am after Murrey math lines for trading Station.....is this available as an add in indicactor.

thanks
Brian

[Nikolay.Gekht]

As far as I can see, Murray sells his solution, but does not disclose it. I'm not sure that it's lawful to make an attempt even to reproduce the solution, especially, if he patented it. Sorry.

[gg_frx]

+1 for murray math
i use this indicator on MT4 platform , but if you write it in lua-code .. well i definitively close my mt4 in demo mode
anyway this is, i think, the best and famous version that you can find on the net
http://www.forexfactory.com/showpost.ph ... count=1989

this is the official thread
http://www.forexfactory.com/showthread.php?t=159471

and here some explanation
http://www.foretrade.com/murrey_maths_lines.htm

good work

[Nikolay.Gekht]

Ok. Will include into the work plan.

[Laurus12]

What an amazing tool! I just tried the two MT4 versions. Yes, this would definitely be a valuable tool to Marketscope. Quicker/Less work load and mathematically more accurate (= less eye strain). I like it a lot.

Thanks for bringing this indicator into the light brianh! And thanks for the articles gg_frx, and thank you for the first indicator Nikolay

[Nikolay.Gekht]

Well, I finished with Murray math lines, but, unfortunately, for the new version of the Marketscope only.

I also added the vertical (time frame) lines from v2 of the original indicator.

Would you be so kind, friends, to find a more or less detailed description how to use the time frame lines as well. We need it for further short description of the indicator on the site.

[Apprentice]

Murrey Math Lines (Support and Resistance)

According to Gann, prices move in 1/8's steps.

Murrey Math Line help traders to determine Support, Resistance, Reversal point, Pivot lines.
Offerin best entry point in position (Buy or Sell) or exit point out of position.
Murrey Math Line have 8 or more lines.

8/8 th's and 0/8 th's Lines (Ultimate Resistance)

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.

http://www.foretrade.com/MM_description.htm

[panzer41]

does any one have the link for download ? i have been searching it for days , to implement it on my fxcm ! Could anyone help

[Apprentice]

This indicator can be found here
viewtopic.php?f=17&t=608&p=1077&hilit=Murrey#p1077