Bank Level indicator

• 12/29/2017 at 5:14 PM #56825
  BiggestNoob

  Hi All,

  I came across Paul Langham’s channel on You tube and in it he mentioned an indicator than draws in lines which he says the banks ‘trade’ at (I.e they often make a move at).

  Basically it seems to consist of the highs and lows for the last :-

  10 weeks

  10 Months

  10 Quarters

  10 Years

   

  I am not a coder which can be seen from my daily level effort which I have attached.

  Daily High/Low

  x = i for i = 1 to 10 do next a = DHigh(x) b = DLow(x) DRAWHLINE(a) DRAWHLINE(b) return

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  x = i for i = 1 to 10 do next   a = DHigh(x) b = DLow(x)   DRAWHLINE(a) DRAWHLINE(b)   return

  It doesnt seem to work as intended :o(

  Can someone give me some direction? I tried to substitue Dhigh for Month[high] and it said it expected a positive value?

  Regards

  BN

  

  BiggestNoob

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  01/03/2018 at 6:34 PM #57166
  Nicolas

  I just made this rough code for this purpose, it only calculates the last 10 weeks and 10 months highest high and lowest low, not tested but should be ok.

  I’ll try to add the other levels later, time to rest a bit now 🙂

  Once lastWeekBarIndex = 0 Once weeklyHigh = undefined Once weeklyLow = undefined Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined If DayOfWeek<DayOfWeek[1] then countw=countw+1 weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1] weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1] lastWeekBarIndex = BarIndex hhw=max(hhw,weeklyhigh) llw=min(llw,weeklylow) if countw=10 then weeks10hi = hhw weeks10lo = llw hhw = 0 llw = close*1000 countw = 0 endif Endif If Month<>Month[1] then countm=countm+1 monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex hhm=max(hhm,monthlyhigh) llm=min(llm,monthlylow) if countm=10 then months10hi = hhm months10lo = llm hhm = 0 llm = close*1000 countm=0 endif Endif Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"

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  Once lastWeekBarIndex = 0 Once weeklyHigh = undefined Once weeklyLow = undefined   Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined   If DayOfWeek<DayOfWeek[1] then countw=countw+1 weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1] weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1] lastWeekBarIndex = BarIndex   hhw=max(hhw,weeklyhigh) llw=min(llw,weeklylow)   if countw=10 then weeks10hi = hhw weeks10lo = llw hhw = 0 llw = close*1000 countw = 0 endif Endif   If Month<>Month[1] then countm=countm+1 monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex   hhm=max(hhm,monthlyhigh) llm=min(llm,monthlylow)   if countm=10 then months10hi = hhm months10lo = llm hhm = 0 llm = close*1000 countm=0 endif Endif     Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"

   

  

  Nicolas

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  01/04/2018 at 4:31 PM #57259
  BiggestNoob

  Cheers Nicolas,

  I will have a play around with it when I get in tonight

  

  BiggestNoob

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  08/30/2018 at 7:36 PM #79429
  hairless414

  how do i use the code? copy paste in mt4 ? also how to code for yearly and quaterly

  

  hairless414

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  08/31/2018 at 9:21 PM #79489
  Vonasi

  hairless414 wrote:

  how do i use the code? copy paste in mt4 ? also how to code for yearly and quaterly

  The code is for use with ProRealTime only. This is a forum dedicated to ProRealTime code – it is not a place to find MQ4 code solutions.

  

  Vonasi

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  11/22/2019 at 3:33 PM #113428
  jandehaas

  Hello Nicolas,

  I am also interested in this indicator,I tried to install it but it does not seem to work,could you test it ?

  Thank you,

  Jan

  

  jandehaas

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  11/22/2019 at 5:16 PM #113431
  Vonasi

  Did you add it to the price chart via the wrench in the top left corner?

  

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  11/22/2019 at 7:11 PM #113444
  jandehaas

  I tried that too but it gives me the same error notice,I attached a screen shot …

  

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  11/22/2019 at 8:16 PM #113449
  Vonasi

  Sorry but that screen shot is not clear enough to read. I just cut and pasted Nicolas’ code into a new indicator and it works fine. What instrument and time frame are you applying it to so that everyone else can try to get the same error?

  

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  11/23/2019 at 12:14 AM #113457
  robertogozzi

  It seems there’s a wrong value within brackets with HIGHEST and LOWEST.

  Try using

  [max(1,BarIndex - lastWeekBarIndex)]

  1	[max(1,BarIndex - lastWeekBarIndex)]

  at lines 11-12, and

  [max(1,BarIndex - lastMonthBarIndex)]

  1	[max(1,BarIndex - lastMonthBarIndex)]

  at lines 29-30.

   

  

  robertogozzi

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  11/23/2019 at 8:25 AM #113463
  Vonasi

  Perhaps it is trying to get the values on the first bar of a chart (barindex = 0) so that would create a negative value in the HIGHEST and LOWEST brackets. So you could just enclose the main code within the following IF THEN ENDIF to avoid this:

  Once lastWeekBarIndex = 0 Once weeklyHigh = undefined Once weeklyLow = undefined Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined if barindex > 0 then If DayOfWeek<DayOfWeek[1] then countw=countw+1 weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1] weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1] lastWeekBarIndex = BarIndex hhw=max(hhw,weeklyhigh) llw=min(llw,weeklylow) if countw=10 then weeks10hi = hhw weeks10lo = llw hhw = 0 llw = close*1000 countw = 0 endif Endif If Month<>Month[1] then countm=countm+1 monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex hhm=max(hhm,monthlyhigh) llm=min(llm,monthlylow) if countm=10 then months10hi = hhm months10lo = llm hhm = 0 llm = close*1000 countm=0 endif Endif endif Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"

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  Once lastWeekBarIndex = 0 Once weeklyHigh = undefined Once weeklyLow = undefined   Once lastMonthBarIndex = 0 Once monthlyHigh = undefined Once monthlyLow = undefined   if barindex > 0 then   If DayOfWeek<DayOfWeek[1] then countw=countw+1 weeklyHigh = Highest[BarIndex - lastWeekBarIndex](High)[1] weeklyLow = Lowest[BarIndex - lastWeekBarIndex](Low)[1] lastWeekBarIndex = BarIndex   hhw=max(hhw,weeklyhigh) llw=min(llw,weeklylow)   if countw=10 then weeks10hi = hhw weeks10lo = llw hhw = 0 llw = close*1000 countw = 0 endif Endif   If Month<>Month[1] then countm=countm+1 monthlyHigh = Highest[BarIndex - lastMonthBarIndex](High)[1] monthlyLow = Lowest[BarIndex - lastMonthBarIndex](Low)[1] lastMonthBarIndex = BarIndex   hhm=max(hhm,monthlyhigh) llm=min(llm,monthlylow)   if countm=10 then months10hi = hhm months10lo = llm hhm = 0 llm = close*1000 countm=0 endif Endif   endif   Return weeks10hi as "10 weeks high", weeks10lo as "10 weeks low", months10hi as "10 months high", months10lo as "10 months low"

   

  

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  06/03/2020 at 3:06 PM #134412
  tobytarczy

  Hi

  I think there is a lot more to these levels than meets the eye. From my understanding these levels include a number of variables that help to define the level itself, such as, how recent has the level been hit, if the market goes through the level, which would be a negative score, volume or number of transactions at the level, etc. this is based on an indicator I have used on MT4 where this was the case.  I think what Paul Langham has developed is similar to the tool, maybe more advanced.

  I would love to have such an indicator as it is really helpful in setting up a trade in determining stops and targets. If someone knows how to get this in PRT that would be great.

  Toby

   

   

  

  tobytarczy

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  06/03/2020 at 4:30 PM #134432
  Nicolas

  Please define the ways to calculate those levels and maybe someone would code it? Math formulas are appreciated, thanks.

  

  Nicolas

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  06/03/2020 at 4:45 PM #134435
  tobytarczy

  Hi, Let me see if I can get the details you need from my source.  Many thanks

  

  tobytarczy

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