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Friendship Day Gift

Hello everybody,

It was a friendship day yesterday so I decided to share a little present with you.

I was also reading something about market structure yesterday and how to sharpen your market structure view.

So I wrote a bit of code today which is an indicator for MetaTrader. It shows the Open of each time interval D1, H4, H1 and M15.

If there is anything you would like to add or have some thoughts about it making it better and more effiecient, all opinions welcomed! :)

This is how I will try to look at it. Price above D1, H4, H1, M15 open -> BUY, Price below D1, H4, H1, M15 -> SELL, of course according to your strategy used, not just blind buying or selling. ;)

Plot the indicator on M1 chart only. It could works on higher TFs, but the behavior is undefined

sneak peek:

EDIT 8.8.2016: Bug spotted while 15M and higher time change. Indicator has to be re-plotted. I will look at it asap and will repair it g2g now. cya all

EDIT 9.8.2016: Version with no bugs, yaaay :D)

source code: priceTimeLvls.mq4

compiled: priceTimeLvls.ex4

Daniel Stasziek - trading since 2009. If you want to start trading, I suggest you follow the general advice: "run very quickly, the other way."

Comments

  • Good morning traders,

    I am looking at the structure at AY, we are below D1 open, but forming above H4,H1, tested M15, but when breaks up I will try to buy somewhere above. There is a lot of space to D1 open imo.

    • I am falling in love with this ;) :]

  • Daniel I wish to explore this further but for the life of me I cant get the indi to load soon as I can then we can maybe have further conversations I am using oandas mt4 any insight would be much appreciated i think this could curve fit with my Forking Methods thank you in advance .......

    Regards

           Your Forkin Friend 

                  Richard

    • Hi Split,

      It's nice to hear from you in this thread, how are you?

      So let's get this working. First of all it is intended to work on 1Minute chart while the opens shows the higher TFs, so it's like all timeframes (1D,4H,1H,15M) on one TF to make it easier to read. So it will need you to scroll to M1 TF in your metatrader.

      There is also a lot of possible adjustments, e.g. the D1 open line which is white by default, so it will be better to change, so you can see it on your white background.

      If you can't find it in your MT in this menu Then you need to add it probably elsewhere you have already add it. In the new builds (over 600 I guess) of metatrader the files with indicators are little bit hidden on Windows. Unfortunately I am on OS Linux so I can't show how the path to the files looks like on Windows. But the best way how to add it is to open the editor of mql4 in your MT4 and copy/paste the source code shared above, save and at the end click at compile, then it should be there in your menu ready to serve :)

      I hope I described any possible situation where it could get wrong, but if not don't hesitate to ask, I am here to help my friends :))

      Best Regards,

      Daniel

  • Took the EY today while making the reply above.

    Price was above 4H,1H,15M, trade closed at 1D open line. Looking for re-enter buy right now...

  • Hello Daniel,

    Belated Friendship day wishes.

    I think your indicator idea is wonderful, for me it's it is like a center of gravity type of indicator. Price always reacts at the opening price.

    Thank you for your time to code this. 

    Between you could only share the complied file .ex4 sharing source code is not necessary. 

    Best Regards

    S.

    • Hi SFX,

      I am so glad you like and also hope it will bring some benefits to your trading :))

      I was thinking if anyone wanted to add something on his own so he could do without asking for the source code.

      If there is anything I could improve/add, let me know I'll do it ;)

      Regadrs,

      Daniel

    • lines match up nicely that said i bought in the 20s 

    • That's great to see it is running, I hope you like it.

      btw thaanks for sharing the mix of alternative country, sounds good so far. Junkyard Preachers, they rock

      Regards,

      Daniel

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