FXCodeBase.COM: Forex Chart Indicators and Development

Hi there dear friend Apprentice.

I found this indicator here called "Peak", It seems to do a good job identifying buy/selling peaks and reversals. I took a look at the code but could not understand if it uses volume or not in the calculation.

I will attach it here, I and I was hoping that you could take a look at the code to see if it uses volume or not in the calculation.

In the case it only uses price, I was wondering if you could modify it to use volume + price.

Best regards

OHLC is used without volume.
How volume will be incorporated?
Something like On balance volume?

Apprentice wrote:OHLC is used without volume.
How volume will be incorporated?
Something like On balance volume?

Hello my friend. Actually I have no idea, perhaps use the same principle of the volume weighted moving average, doesn´it combine price + volume? I leave to you to use your wizardry.

There is something peculiar about his peak indicator, it does a very good job of pinpointing buying and selling peaks, don´t know how.

I believe that integrating volume will give even more precise signals, but I could be wrong.

Check the screenshots attached.

Your request is added to the development list.
Development reference 1651.

viewtopic.php?f=38&t=70144
This makes really strange results.

Apprentice wrote:http://fxcodebase.com/code/viewtopic.php?f=38&t=70144
This makes really strange results.

Thanks buddy, do you wanna test another version using the "on balance volume" principle to see how it compares?

Yeah I just tested here:

-MA type in options does not make any difference in the results
-It does not matter the value you put on the Price MA, does not change the results
-The value of the Volume MA at minimum (1) will plot the same thing as the original Peak
-The more you increase the value of Volume MA the peaks starts getting out of sync


So yeah, volume weighted MA is not the best solution here.

Perhaps the "on balance volume" principle can give better results (or not )

Are you gonna do it?

Your request is added to the development list.
Development reference 1685.

OBV_Mod: viewtopic.php?f=38&t=60488