Rolling largest Impulse Murreys LinesExperimental:
Uses Kadane's max subarray sum algorithm to find the largest impulse within a window and draws Murrey's math lines based on that impulse.
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Murreymathlines
[JRL] Murrey Math LinesMurrey Math Lines are support and resistance lines based on geometric mathematical formulas developed by T.
H. Murrey. MM lines are a derivation of the observations of W.D. Gann. Murrey's geometry facilitate the use of Gann's theories in a somewhat easier application. According to Gann's theory, price tends to trend and retrace in 1/8th intervals. The most important MM line levels are the 0/8, 4/8 and 8/8 levels, which typically provide strong support and resistance points. The 3/8 and 5/8 levels represent the low and high of the typical trading range. When price is above the typical trading range, it is considered overbought, and when it is below it is considered oversold. The 2/8 and 6/8 levels provide strong pivot points.
Some of the other Murrey Math indicators on PulseWire use different formulas and therefore produce varying results. I've checked my indicator against MM indicators on other platforms and it is consistent with those indicators.
This indicator also allows users to switch to alternative timeframes for analysis and it includes labels for the MM lines. If you have any suggestions or comments, please leave them below.
Cheers!
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Murrey Math Lines with labels updated the script from @ceyhun and added labels for reference...
For high probability setup pair it with higher timeframe (30 min, 60 min) and 5 min for support and resistance and use price action to go long or short... For more info on how to trade these lines you can search forexfactory . It is uncanny how these lines react to prices. Need to explore more on this subject...
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Murreys Math Lines Box OR Ratio PivotsI'm publishing my second script, though nothing extraordinary, I believe there is user group for Murry Math indies and the only "proper one" (According to my usage) I found was of RicardoSantos, here is the link :
He developed that script in 2014 and it is in need of update to Pine V4 and I'm doing the needful as its user.
All the updates from my end are listed below:
1. Updated to Pine V4
2. Automatic octave selection
3. In auto mode one can switch octave
4. This script is color coded with intention of use on dark theme, one can change the colors to use it on white background with simple few clicks as pinelines have been used
Other thing I want to add is that usage of this is not very clear to many users, so I'll do little explaining here;
Lets start with what is Octave? Octave is basically distance between square of two whole numbers, this is hard-fast method to calculate, Murry has made it far more complicated to use practically. In mathematical formula terms it could be something like this for script trading at 11890 (CMP)
Step 1: Square Root of CMP i.e Square Root of 11890 = 109.041 = Rounded to 109
Step 2: You can either take one whole number higher or lower than 109, which is 108 or 110. We will take 108
Step 3: Square of 108 = 11664 and Square of 109 = 11881
Step 4: Octave => Distance between (Lowlevel) 11664 and (Higherlevel) 11881
I've automated it so you don't need to calculate, but there is also manual entry possible if you want to calculate octaves yourself, there are different ways to calculate and some like to just take High and Low's of the day or week or month, whatever you like. When I used it I did it strictly this way, so automation is based on it. This is very subjective matter so don't ask to change the calculation of this, if I started doing that every second person would ask me to modify it to different calculation..and thats...just not possible to do.
This is output for calculation we just did above
This is octave shift option (Which basically shifts to next whole number square in above calculation)
Normal nomenclature on octaves and important color codes
+2/8: Extreme overbought = Blue Color and solid line
+1/8: OverBought
8/8: Hardest line to rise above (overbought) = White Color and solid line
7/8: Fast reverse line (weak)
6/8: Pivot reverse line = Yellow Color and solid line
5/8: Upper trading range
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4/8: Major reversal line = Green Color and solid line
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3/8: Lower trading range
2/8: Pivot reverse line = Blue Color and solid line
1/8: Fast reverse line (weak)
0/8: Hardest line to fall below (oversold) = White Color and solid line
-1/8: Oversold
-2/8: Extreme Oversold = Yellow Color and solid line
Other lines that I've not mentioned color codes for are minor and are usually plotted in dotted format.
Resources on complete technique to trade and importance of levels (highly recommended to read carefully before trading), if you don't know how to get this for free don't worry you can just google Murrey math and you will find it somewhere, its just that it would be in little scattered manner.
www.scribd.com
Enjoy!
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Rumpy's Murrey Math Lines & VWAPs - (pine v4)Murrey Math lines based on weekly closes plus VWAP and pine v4 goodies. Options for adjusting label visibility and disabling vwaps individually.
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If you find it useful please consider a tip/donation :
BTC - 3BMEXEDyWJ58eXUEALYPadbn1wwWKmf6sA
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With only MMLs :
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GRaB Candles by mattlacoco with MMM by Harold_NL V1.1Update v1.1:
GRaB colors now green, red, gray
Added Murrey Range lines.
Cleaned up the code.
GRaB candles and a murrey math "midline" in one script.
Some traders using methods of Rob Booker (40% club, trifecta5) like to use both GRaB candles and Murrey Math to combine, or to compare entry and exit moments.
Color of candles are as GRaB candles.
Midline use: Crossing the midline is a change of color in murrey. Candles closing above the midline would be green and below would be red as murrey candles.
Credits:
Original script of Raghee Horner's GRaB Candles by Matt Lacoco (BUY BLUE SELL RED).
Murrey Math Midline added by Harold van Berk (most code copied from "UCS_Murrey's Math Oscillator_V2" by ucsgears)
Candle colors defined by GRaB
Green bulish, Red bearish, Gray neutral
Dark for close lower than open
Light for close higher than open
Candles that close above the Murrey Math Middle line would normally be (murrey) green. Below would be (murrey) red.
Murrey lines can be switched off in "format" of the indicator.
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[RS] MTF Murrey's Math Lines ChannelTook the orginal Murrey's Math Lines Channel and added Multi Timeframe functionality.
Question though, how do I get 4H available in the drop down list when setting the desired timeframe ?
Thanks
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UCS_Murrey's Math OscillatorThis is a new indicator release, Using the principle of Murrey Math Line Trading Systems. It will be easier for someone to add alerts on an oscillator rather than a overlay.
Currently, I did add some aesthetics for those who like to view different colors, can be turned off.
Oscillator Color Definition -
Green = Above MidLine
Red = Below Midline
Blue = Below Negative 3rd Quadrant
Orange = Above Positive 3rd Quadrant
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Planned future Improvement is to consider Wicks as well.
Do post your opinions and any improvement.
GL.
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