Rounded Number Tool (The Figure)

Here you can post and download custom indicators. PLEASE: Do not start topics unless you are posting your own indicator, they will be moved to appropriate section even if you do.

Moderator: admin

Rounded Number Tool (The Figure)

Postby Apprentice » Thu Oct 07, 2010 12:15 pm

The Figure.png


Example of use of round numbers, for support and resistance level definition.

The lines of resistance, support based on mass psychology. Similar reasoning, the behavior of a large number of investors in the market, allows sophisticated investors using them.

People love round numbers.

When placing an order (Entry, Stop, Limit) investors prefer round in front of random numbers. This phenomenon has been proven and tested on the market, smart investors to predict the level of resistance and support.

Another interesting phenomenon is that the strength of some level of support or resistance tends to increase with increase in the level of rounding.

For example, the 1.0 has more power than 1.5, 1.5 has more power than 1.6, 1.6 has more power than 1.61 ...

The_Figure.lua
(5.98 KiB) Downloaded 3181 times


A similar tool by Alex.
viewtopic.php?f=17&t=60016&p=91812&hilit=levels#p91812
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 32857
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Rounded Number Tool (The Figure)

Postby Jigit Jigit » Tue Nov 09, 2010 5:33 pm

Yet another interesing tool from Apprentice.
Cheers

There seems to be, however, something wrong with it.
It slows Marketscope down.

Would it be possible for it to show only the levels relevant for the current price movment range.
Perhaps if there were fewer lines to draw it wouldn't slow things down.
For instance, we could manually set the range to be marked with round number lines.
Also, can 50-pip lines be added?
That would be most helpul.

Ideally, I think, the original grid in Marketscope should be much more customizable. It should be up to the user which lines are are actually shown (horizontal/vertical, 50/100 pips etc.)

Once again, thank you Apprentice for your great work.
Jigit Jigit
 
Posts: 54
Joined: Tue Aug 31, 2010 1:04 pm

Re: Rounded Number Tool (The Figure)

Postby kerkoules » Fri Mar 04, 2011 4:24 am

Ideally, I think, the original grid in Marketscope should be much more customizable. It should be up to the user which lines are are actually shown (horizontal/vertical, 50/100 pips etc.)


I totally agree, platform itself should have more customizing options. Something else I really miss is a trading day separation vertical line.

In regards to this tool, I would be interested to have 50s included in it.
kerkoules
 
Posts: 2
Joined: Tue Jun 08, 2010 6:27 am

Re: Rounded Number Tool (The Figure)

Postby sunshine » Fri Mar 04, 2011 9:19 am

I've uploaded the modified version. Please check whether it is what you need.
Regarding customizable grid, I've already added this suggestion to our "Wishlist". Hope this feature will appear in one of the next updates :-)
Attachments
The_Figure.lua
(6.68 KiB) Downloaded 1797 times
sunshine
 

Re: Rounded Number Tool (The Figure)

Postby Jigi Jigit » Fri Nov 18, 2011 1:23 pm

Can someone, please, make this indicator draw lines every 250 pips?

please please
Jigi Jigit
 
Posts: 1
Joined: Fri Nov 18, 2011 1:19 pm

Re: Rounded Number Tool (The Figure)

Postby Apprentice » Sat Nov 19, 2011 3:59 am

Your request is added to the development queue.
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 32857
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Rounded Number Tool (The Figure)

Postby Apprentice » Sat Nov 19, 2011 3:32 pm

250 pips level added
The_Figure.lua
(6.35 KiB) Downloaded 1802 times
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 32857
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Rounded Number Tool (The Figure)

Postby Jigit Jigit » Tue Jan 17, 2012 6:24 am

Thank you Apprentice.

On second thoughts, would it be very difficult to change this indicator to allow the user to specify the round figures marked, e.g. 10, 20, 25 etc.

That would be very helpful.
Cheers
Jigit Jigit
 
Posts: 54
Joined: Tue Aug 31, 2010 1:04 pm

Re: Rounded Number Tool (The Figure)

Postby trendwatch » Fri Mar 16, 2012 8:55 am

Hello, great tool. But I face a problem:

First 2 versions don't show up at all.
Last version shows only level 1.
So 1,300 1,3100 and 1,3200 do show and
1,3025 1,3050 and 1,3075 etc do NOT show up.

Could you please check the indicator?

Thank you
trendwatch
 
Posts: 33
Joined: Wed Jul 13, 2011 2:49 am

Re: Rounded Number Tool (The Figure)

Postby nazaar » Thu Apr 12, 2012 11:29 pm

i was looking for the process of adjusting the price interval on the right hand axis of the price chart and found this tool. excellent. Is it possible to adjust the interval?

With this tool, could you label the level a little more clear. It looks like it's in the following order but not labelled:

level 1 10,000 pips
level 2 5000 pips
level 3 1000pips
level 4 500 pips
level 5 100 pips
level 6 is 50 pips

Also, as is the case with many indicators it would be better if the user had the option to choose the level interval.

thanks.
nazaar
FXCodeBase: Initiate
 
Posts: 178
Joined: Fri May 27, 2011 2:21 pm
Location: Ontario, Canada

Next

Return to Custom Indicators

Who is online

Users browsing this forum: No registered users and 4 guests