simple, tradable, awesome statistics

[PebbleTrader]

"Any thoughts? Like i said, dont want to derail OP's thread"

Thanks for the ideas. I think this thread can still be about stats, I thought it might be useful to detour for a bit to help show how the data is structured. In that sense, the stats can be better designed.

"Whole FX market = total sum of all money (100%)"

I understand what you are saying, but I don't think we have enough information to do it. It's almost like a "volume" indicator but that information is not known. Even volume studies may not be useful, just because there was volume, doesn't mean there will be follow through and most markets that do show volume disguise it. I'm not sure if tick data alone is enough to deduce such a thing from.

[deltaskelta]

"Any thoughts? Like i said, dont want to derail OP's thread"

Thanks for the ideas. I think this thread can still be about stats, I thought it might be useful to detour for a bit to help show how the data is structured. In that sense, the stats can be better designed.

"Whole FX market = total sum of all money (100%)"

I understand what you are saying, but I don't think we have enough information to do it. It's almost like a "volume" indicator but that information is not known. Even volume studies may not be useful, just because there was volume, doesn't mean there will be follow through and most markets that do show volume disguise it. I'm not sure if tick data alone is enough to deduce such a thing from.

PT, i looked at that other thread and read the whole thing, but it looks to meas if this is a completely different CC, the other one connects two candles of the same color, but this one is different, there are many instances where it connects two candles of a different color as well, not to mention the other one tracks the candles perfectly while this one is offset somehow.

I just can't see why it does that, can you tell me how the candles are formed?

[PebbleTrader]

"connects two candles of the same color"

It's doing exactly that.

I'm not sure how else to explain it.

Maybe if you just went through and manually drew the CC, you would come up with the same thing...

[PebbleTrader]

You could put that indi on a chart and look it over...maybe that would help you see it...but you don't need the indi to see it, you should just be able to use the image I posted and come up with the same thing...

[deltaskelta]

"connects two candles of the same color"

It's doing exactly that.

I'm not sure how else to explain it.

Maybe if you just went through and manually drew the CC, you would come up with the same thing...

Unless I'm crazy, the one on the other site is a different indi, in the one you posted on this site, it creates CC for candles that are different colors, whereas on the other one, it only creates a CC when there actually are two alike candles, pictures below:





Please if there is something I am missing show me in a graphic, because I cannot understand how these are possible the same CC's. And the blue background one makes perfect logical sense, but I cannot see any logic in the other one, although I am sure it is there.

[Jalarupa]

As far as i can see it looks like MO's Trendsetter by Jscar... but i may be wrong

http://db.tt/T5z0dHud

[PebbleTrader]

Yes, it's the Trendsetter indi and the previous link I posted linked over to I I for the discussion of it's creation.

Delta, I have no idea what you are drawing with the red boxes, it looks like you are not seeing that the two candles are showing different times, in other words the if you were to draw a vertical line on the image and it connected the candlesticks and CC, the time stamp is NOT the same.

If there is two red candles in a row and likewise for green, it creates a CC, that is all it is doing, nothing more

[PebbleTrader]

[PebbleTrader]

The length of the CC created contains the distance of the two candles that created it...

[PebbleTrader]

It is not the only way to do it, see if you can think of other ways to show time, yet remove time, show that which is significant, ignore that which is not, in other words, see if you can show the data all the while minimizing "screen ink"...