Hello All
I am new here ,I was wondering, is it possible to get a tool or program that will show live retracement percentage of the daily or any chosen time frame on the chart.
Any information would be great.
Retracement percentage from the highest and lowest price of the current day or the previous one?
Hi Nicholas
thank you for commenting. i want to be able to chose any time frame of high and lows( this can be today’s, yesterday’s or last 4 hours high and lows)
is there any tool, indicator that will show live Retracement percentage of any chosen high and low as the price moves.
regards
Ali
To get information from 2 different timeframes, it would easier to make 2 different indicator, one for the daily retracement and another one with the 4 hours values.
For what version of prorealtime would you like to get this indicator? How the percentage retracement value should be displayed? As an oscillator or a line/text with the current value only? (v10.3 only compatible).
Hi Nicolas
thank you . I am using IG’s own platform. When I contacted them about this tool. They advised me that their platform doesn’t have this tool but Prorealtime might have it. I called protealtime to ask about this and they said I should go to this website(prorealcode) and ask on the forum. That’s why I emailed you and ask this in the forum here.
what I need is ; to be able to choose any high and low points and the current price will be shown to me by this tool in percentage point.
For example: I chose high is 200 and low is 100. Current price is 140. In this example market is %40 above its low point. This tool should be show me current Retracement level in percentage anywhere within the chart. In any time frame chosen .
i am not very technical about this . That’s why I prefer using simple platforms like IG’s .Obviously, if i start using prorealtime , it will take time to get use to the platform. I don’t mind spending this time to get used to the platform as long as this tool(indicator) is possible to get it on the protealtime.
so I am just wondering if I start using protealtime, is there already a tool which will do what I need as explained above? Or I don’t mind paying someone to create this tool for me as I don’t want to spend lots of hours to learn about codes.
Currently I am doing the calculations myself manually, I thought if this kind of tool is available, I don’t have to do the calculations and concentrate more on the move of the market I am trading on.
i hope this answers everything
kind regards
ali
Sorry but code is strict and your request has change since your first message.
For example: I chose high is 200 and low is 100. Current price is 140. In this example market is %40 above its low point. This tool should be show me current Retracement level in percentage anywhere within the chart. In any time frame chosen .
So now you want to choose yourself the high and the low? instead of using the day High/Low?
There is no already made tool to draw the actual percentage of retracement, so we need to code it. It is not difficult at all, but I need the precise description of what you want, thank you.
If you want a personal and private assistance instead, you can use the form of the trading programming services
Hi Nicolas
thank you. Sorry I should have probably been more clearer. But in my first message I said ‘any chosen time frame ‘
By saying that I ment; I want to choose the any high and any low. Not only daily .
kind regards
ali
Ok, but I still don’t know what is your prorealtime version?
Thank you, I don’t use prorealtime at the moment. I am here to ask advise
if I use prorealtime, is it possible to create this tool/indicator that I have been asking. If yes, how much would it cost.
Everything is free and available for everyone on the website unless you ask for private assistance.
So I’ll code it for prorealtime 10.3, because it will have a better looking on chart thanks to the new graphics possibilities. I’ll do it ASAP as it’s now time to rest a bit 🙂
I quickly code this little indicator. The current retracement is calculated with the last ‘n’ day value, I set it to “1” by default, so it’s the previous day.
defparam drawonlastbaronly=true
nDay=1
// Daily high / low version
dH = Dhigh(nDay)
dL = Dlow(nDay)
full = (dH-dL)/pointsize
current = (close-dL)/pointsize
currentlevel = (current/full)*100
drawtext("#currentlevel#%",barindex,close,Dialog,Bold,20) coloured(204,0,204)
return dH as "high 100%", dL as "low 0%"
Do this example can suit your needs?
Thank you Nicolas
i will not able to confirm this until I start using the indicator myself.
i will have a look start using proreal platform. I will let you know as soon as I can.
thank you again for taking time to do this. I didn’t know that this job is free to do. I still don’t understand how this whole thing work to be honest.
but I will look into using the platform soon.
kind regards
ali
Hi Nicholas
it has been a while since posting this but I now have 10.3 version of Proreal. I just install the software and I am not sure where to find this indicator you prepared ?
Many Thanks
ali
Just copy/paste the code into a new indicator and apply in on price chart.
