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After speaking to guys in our Skype Group (free for all skype group for BO traders/developers/newbies and pros combined) we thought share some interesting indicator here in TSD to see if any good developer may pick up a ride and make some magic
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I think it will be of great use in predicting / deciding the direction and size of the next candle.
I backtested my formula for this on EUR/JPY and EUR/USD and it gave astonishing results.
Speed of trade = (Price Change / Volume) per unit time.
= (Open-Close)/tick volume in the default period.
If SoT of current candle is greater than twice the average SoT of the selected period, next candle will be in the same direction of the current candle. (Our signals can be given at the close of the current candle).
Caution: If current candle is followed by same color 2-3 candles, no signal is to be given.
Date E/J(Open) E/J(High) E/J(Low) E/J(Close) Volume(E/J) Direction Price change Speed
11/06/2012 03:56:00 102.456 102.456 102.429 102.429 96 DOWN -0.027 2.81
11/06/2012 03:57:00 102.429 102.429 102.398 102.413 158 DOWN -0.016 1.01
as speed is greater than 1.70 (average of 14 candles), it predicts that next candle will be down.
This indicator can be made to look like a speedometer or just the number can appear with the signal on the candle. I think this will help a great deal in making right decisions.
The theory behind this is that every rise or fall needs a force or inertia greater than the existing force, so as soon we see or capture such extra force, we can determine the next candle direction and values also.
Following people started working on it but seems as didn't finished or finished but not published:
Then, holyfire from Edge forum, given his hands on it, and offered both the indicator files and the template: Fixing Possibly very good prediction indicator - 5 Minute Strategies - Binary Options Edge
Three different dots above/below the candle it may move in the indicated direction , dots below call , dots above put.
Some filtering missing which causes it to make too many false signals. From what one of our group members said, it will keep alarming up every tick.
So anyone who want,willing,can and have some spare time - Lets make a magic with it
Thank you so much!
- Coding help
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Hello Guys,
After speaking to guys in our Skype Group (free for all skype group for BO traders/developers/newbies and pros combined) we thought share some interesting indicator here in TSD to see if any good developer may pick up a ride and make some magic
I think it will be of great use in predicting / deciding the direction and size of the next candle.
I backtested my formula for this on EUR/JPY and EUR/USD and it gave astonishing results.
Speed of trade = (Price Change / Volume) per unit time.
= (Open-Close)/tick volume in the default period.
If SoT of current candle is greater than twice the average SoT of the selected period, next candle will be in the same direction of the current candle. (Our signals can be given at the close of the current candle).
Caution: If current candle is followed by same color 2-3 candles, no signal is to be given.
Date E/J(Open) E/J(High) E/J(Low) E/J(Close) Volume(E/J) Direction Price change Speed
11/06/2012 03:56:00 102.456 102.456 102.429 102.429 96 DOWN -0.027 2.81
11/06/2012 03:57:00 102.429 102.429 102.398 102.413 158 DOWN -0.016 1.01
as speed is greater than 1.70 (average of 14 candles), it predicts that next candle will be down.
This indicator can be made to look like a speedometer or just the number can appear with the signal on the candle. I think this will help a great deal in making right decisions.
The theory behind this is that every rise or fall needs a force or inertia greater than the existing force, so as soon we see or capture such extra force, we can determine the next candle direction and values also.
Following people started working on it but seems as didn't finished or finished but not published:
Then, holyfire from Edge forum, given his hands on it, and offered both the indicator files and the template: Fixing Possibly very good prediction indicator - 5 Minute Strategies - Binary Options Edge
Three different dots above/below the candle it may move in the indicated direction , dots below call , dots above put.
Some filtering missing which causes it to make too many false signals. From what one of our group members said, it will keep alarming up every tick.
So anyone who want,willing,can and have some spare time - Lets make a magic with it
Thank you so much!
Rommark2 this would be the SOT14 version, just updated a bit alert wise, one thing not sure about is all the Volume calls are using +1.