Stretch Indicator

If you need an Indicator or Signal developed or translated from other language, please post all Indicator development REQUESTS to this section here.

Moderator: admin

Stretch Indicator

Postby logicgate » Sat Dec 29, 2018 7:02 am

Hi there dear friend apprentice, here is a simple indi that might be useful for taking trades called ORB (opening range breakout). For that we need to know the stretch, which is defined as follows:

"The stretch is determined by looking at the previous ten days and averaging the sums of the differences between the open for each day and the closest extreme to the open on each day".

What I understand by that is that first we calculate the difference between the open and the closest extreme to the open (which will be the high or the low of the day). Do that for 10 days. Sum the result from all 10 days then divide by 10.

The indi could be just a text in the corner of the screen saying Stretch: 20 for example.If we could drag it around, better.

If you think it is possible, thanks! I am sending you the book via PM.

Cheers!
Attachments
IMG_0099.PNG
logicgate
FXCodeBase: Initiate
 
Posts: 195
Joined: Tue Dec 11, 2018 7:54 am

Re: Stretch Indicator

Postby Apprentice » Sun Dec 30, 2018 7:22 am

Try this version.
viewtopic.php?f=17&t=67220
Is calculated as max of (abs(high-open) and abs(low-open))
This Data is then averaged.
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 20875
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Stretch Indicator

Postby logicgate » Sun Dec 30, 2018 10:32 am

Apprentice wrote:Try this version.
viewtopic.php?f=17&t=67220
Is calculated as max of (abs(high-open) and abs(low-open))
This Data is then averaged.


Thanks for the lightning fast response. I am sorry but forgot to mention that it is for MT4, my friend.

Just wanted to tell you, I really don't need to see the indicator window or a plotted line, as I will follow the instructions of the book, I am just interested in seeing the Stretch value as intended by the author, so 10 days. It is just a numerical value we are interested in, no graphs. If you could be so kind to compile a MT4 version with no indicator window, just a text in the corner of the screen saying "Stretch: 20" for example, that we could drag and place wherever we want, it would suffice. Of course, if you wish to leave one option on the indicator so we can put how many days to look back (default being 10) it will give room to more experimenting.

Thanks!
logicgate
FXCodeBase: Initiate
 
Posts: 195
Joined: Tue Dec 11, 2018 7:54 am

Re: Stretch Indicator

Postby Apprentice » Wed Jan 02, 2019 6:06 am

Your request is added to the development list under Id Number 4393
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 20875
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Stretch Indicator

Postby Apprentice » Fri Jan 04, 2019 6:15 am

MQ4/MT4 version.
viewtopic.php?f=38&t=67235
Will add label only in the next few days.
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 20875
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Stretch Indicator

Postby logicgate » Fri Jan 04, 2019 6:26 am

Apprentice wrote:MQ4/MT4 version.
viewtopic.php?f=38&t=67235
Will add label only in the next few days.


Thanks brother!

Sorry, but what do you mean by label? You mean doing it like I asked in my request post?
logicgate
FXCodeBase: Initiate
 
Posts: 195
Joined: Tue Dec 11, 2018 7:54 am



Return to Indicator and Signal Requests

Who is online

Users browsing this forum: No registered users and 7 guests