All about Murrey_Math & Variant

Hi ND/Igor,

I found one indicator on TradingView which shows very good results. Is it possible to have this in MT4 ?

Please.

https://www.tradingview.com/script/l...y-Math-Levels/

//@version=3


// LAX Murrey Math Levels
// Copyright by RJ 4/2018
// Specify a starting price, then an interval and Lookback window.
// The indicator will then plot a moving window of murrey math levels.


study(title="LAX Murray Math Levels", shorttitle="LAX_MML", precision=5, overlay=true)


//Inputs
stPrice = input(1.2300, minval=1, title="StartingPrice")
pipInterval = input(125, minval=1, title="Interval in Pips")
lookbackWin = input(64, minval=28, title="Lookback window")


//Calculate precision
mult = .00001
incr = pipInterval * mult
mid1 = 0.0000
top1 = 0.0000
bot1 = 0.0000
mid2 = 0.0000
top2 = 0.0000
bot2 = 0.0000


decimals = abs(log(syminfo.mintick) / log(10))
if decimals == 3
mult = .001

//plot(series=decimals, color=blue)


if barstate.isfirst
mid1:=stPrice
else
if highest(high, lookbackWin) >= (mid1 + incr)
mid1:= highest(high, lookbackWin)

//Plot
m1 = plot(mid1, color= mid1 != mid1[1] ? na : red, title="m1", style=line, linewidth=2)
t1 = plot(mid1 + incr, color = mid1 != mid1[1] ? na : red, title="t1", style=line, linewidth=2)
b1 = plot(mid1 - incr, color = mid1 != mid1[1] ? na : red, title="b1", style=line, linewidth=2)


mid2:=mid1
if lowest(low, lookbackWin) <= (mid2 - incr)
mid2:= lowest(low, lookbackWin)

m2 = plot(mid2, color = mid2 != mid2[1] ? na : red, title="m2", style=line, linewidth=2)
t2 = plot(mid2 + incr, color = mid2 != mid2[1] ? na : red, title="t2", style=line, linewidth=2)
b2 = plot(mid2 - incr, color = mid2 != mid2[1] ? na : red, title="b2", style=line, linewidth=2)



Regards,
Jag

Originally Posted by jagadish123

Hi ND/Igor,

I found one indicator on TradingView which shows very good results. Is it possible to have this in MT4 ?

...

Yes, I asked Igorad to look at/for this indicator.

Thanks ND.

Originally Posted by newdigital

Yes, I asked Igorad to look at/for this indicator.

Hi ND,

I know Igor is loaded with tasks, but request to keep in queue ..... just a gentle reminder.

Please...

Regards,
Jag

Originally Posted by jagadish123

Hi ND/Igor,

I found one indicator on TradingView which shows very good results. Is it possible to have this in MT4 ?

Please.

https://www.tradingview.com/script/l...y-Math-Levels/

//@version=3


// LAX Murrey Math Levels
// Copyright by RJ 4/2018
// Specify a starting price, then an interval and Lookback window.
// The indicator will then plot a moving window of murrey math levels.


study(title="LAX Murray Math Levels", shorttitle="LAX_MML", precision=5, overlay=true)


//Inputs
stPrice = input(1.2300, minval=1, title="StartingPrice")
pipInterval = input(125, minval=1, title="Interval in Pips")
lookbackWin = input(64, minval=28, title="Lookback window")


//Calculate precision
mult = .00001
incr = pipInterval * mult
mid1 = 0.0000
top1 = 0.0000
bot1 = 0.0000
mid2 = 0.0000
top2 = 0.0000
bot2 = 0.0000


decimals = abs(log(syminfo.mintick) / log(10))
if decimals == 3
mult = .001

//plot(series=decimals, color=blue)


if barstate.isfirst
mid1:=stPrice
else
if highest(high, lookbackWin) >= (mid1 + incr)
mid1:= highest(high, lookbackWin)

//Plot
m1 = plot(mid1, color= mid1 != mid1[1] ? na : red, title="m1", style=line, linewidth=2)
t1 = plot(mid1 + incr, color = mid1 != mid1[1] ? na : red, title="t1", style=line, linewidth=2)
b1 = plot(mid1 - incr, color = mid1 != mid1[1] ? na : red, title="b1", style=line, linewidth=2)


mid2:=mid1
if lowest(low, lookbackWin) <= (mid2 - incr)
mid2:= lowest(low, lookbackWin)

m2 = plot(mid2, color = mid2 != mid2[1] ? na : red, title="m2", style=line, linewidth=2)
t2 = plot(mid2 + incr, color = mid2 != mid2[1] ? na : red, title="t2", style=line, linewidth=2)
b2 = plot(mid2 - incr, color = mid2 != mid2[1] ? na : red, title="b2", style=line, linewidth=2)



Regards,
Jag

Originally Posted by jagadish123

Hi ND,

I know Igor is loaded with tasks, but request to keep in queue ..... just a gentle reminder.

Please...

Regards,
Jag

Yes, I reminded to Igorad now.

Originally Posted by jagadish123

Hi ND,

I know Igor is loaded with tasks, but request to keep in queue ..... just a gentle reminder.

Please...

Regards,
Jag

Hi Jag,

Please check out the LAX Murrey Math Levels indicator.

Attachment 40059


Regards,
Igor

Great Thanks.... Igor. Words are not sufficient to praise you!!!

See the attached screen shot, with SL of 1.30 points($6.50) and TP 30 pts in ES# which comes to $1500 for 1 lot(margin $400).

Thanks ND too...!!

Regards,
Jag

Originally Posted by igorad

Hi Jag,

Please check out the LAX Murrey Math Levels indicator.

Attachment 40059


Regards,
Igor

Hi jagadish12,

What TF do you use? You enter with the Arrow (what indicator is that)?

Thanks
twix

This can work on any TF, accordingly SL/TP will be different. Arrow is manually drawn, as soon as the candle/s touching the levels, I buy/sell abv/below high or if inside bar happned at big TF then thats a good R:R. Please try properly before Real trade.

I do mainly on M1 and book 2-3pts.

Originally Posted by twix

Hi jagadish12,

What TF do you use? You enter with the Arrow (what indicator is that)?

Thanks
twix

The article provides several examples of hypothetical trades that could have happened if I had encountered the necessary conditions shown in the images below. ;-) The terminal time is GMT+3, quotes - MetaTrader 5, MetaQuotes-Demo.

more...