Daily Range Movement Summary

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Re: Daily Range Movement Summary

Postby logicgate » Tue Sep 10, 2019 9:26 am

I think that the way the calculation is being made to count the pips is not working, needs to be changed. Perhaps you are using a zig zag to count the pips of each leg, this isn´t working.

Every timeframe is giving a completely different reading of ADM.

Can´t you "tell" the code to count every pip the price goes up and down from the start of each daily bar at 00:00? A pip counter? Then if ADM is set to 7 for example, the total value of the pips counted of 7 days will be divided by 7.
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Re: Daily Range Movement Summary

Postby Apprentice » Wed Sep 11, 2019 4:41 am

Your request is added to the development list.
Development reference 73.
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Re: Daily Range Movement Summary

Postby logicgate » Thu Sep 12, 2019 8:38 am

Thanks, gonna test it right now
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Re: Daily Range Movement Summary

Postby logicgate » Thu Sep 12, 2019 10:21 am

Apprentice wrote:
Daily Range Movement Summary v.1.4.mq4

Try this version.


Still not working properly. When loaded a while ago, ADM was 50 pips or so (which is already wrong, price certainly moves way more than 50 pips in 24hs), and now ADM reading is 22 pips!
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Re: Daily Range Movement Summary

Postby Apprentice » Mon Sep 16, 2019 3:11 am

I see no issues with that. ADM is an average mode during the day at the current timeframe. Each bar can move 50 pips on average even if the pice moved way more than 50 pips during the day. Or do you need an average of the D1 bar move?
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Re: Daily Range Movement Summary

Postby logicgate » Mon Sep 16, 2019 8:09 am

No, ADM is supposed to be the average movement of price per day. 50 pips is the range, not the movement. If you start counting the pips that price moves up and down inside a 50 pip range, you will see that the number is way higher, it can easily go over 400 pips. ADM is a daily calculation, hence average daily movement.

If ADM is set to 7, then it will average the movement of the last 7 days (bars) and not include the current bar in the calculation. If for example the ADM for 7 days is 300 pip, this is a fixed value, it can´t oscillate up and down. The percentage also can´t oscillate up and down, it can only go up (it is like a countdown). Every pip the price moves up and down will add to the percentage completion. If it the values go up and down then there is no purpose in this.
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Re: Daily Range Movement Summary

Postby Apprentice » Thu Sep 19, 2019 12:58 pm

To calculate the movement we need to go to sub D1 timeframe. D1 timeframe doesn't give us enought information for the movement. The smaller the TF the more accurate (and higher) DM value we get. Could you provide a reference if you do know any other way for calculating DM?
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Re: Daily Range Movement Summary

Postby logicgate » Thu Sep 19, 2019 2:26 pm

Apprentice wrote:To calculate the movement we need to go to sub D1 timeframe. D1 timeframe doesn't give us enought information for the movement. The smaller the TF the more accurate (and higher) DM value we get. Could you provide a reference if you do know any other way for calculating DM?


Hi there. Yes you should use 1M timeframe data, which is the finest. calculation should start at 00:00 and finish at 00:00, thus giving us a daily value (1440 minutes). But calculation should NOT include current day.

If I tell the indicator to give me 7 day ADM, it sould calculate the last 7 days average, excluding the current day.
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Re: Daily Range Movement Summary

Postby Apprentice » Wed Oct 02, 2019 4:23 am

You need to set ADM period to 1M.
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