Market overview chart

Ideas for new features. All suggestions are very welcome, thank you.

Re: Market overview chart

Postby Steve » Wed Nov 25, 2015 9:41 pm

Hi Gavin,
I know you have said the market overview is on your list but just wondered if you were planning on introducing it in the near future or is it some way off yet.Personally I think this is the only really important feature for pre race horse racing missing from the fantastic software. Great work Gavin.
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Re: Market overview chart

Postby Gavin » Wed Nov 25, 2015 11:30 pm

Hi Steve,

Thanks for your comment.

I have been thinking recently that it might need to be one of the next major features that I add, but I think that adding it is still some way off.

Kind regards,

Gavin
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Re: Market overview chart

Postby Steve » Fri Nov 27, 2015 4:25 pm

Thanks for the reply Gavin. Would love to see that added. Would there be any chance of adding a histogram to the MACD chart at some point. What would be your opinion of using that?
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Re: Market overview chart

Postby Gavin » Fri Nov 27, 2015 5:15 pm

Hi Steve,

I think it might be technically possible for me to add a histogram to the MACD, so perhaps it is something that I can try to implement it the future.

The MACD histogram is just a measure of the difference between the MACD line and it's moving average line. So in the meantime, you could just look for whether the MACD is below its moving average, which is when the histogram would be below zero. When the two lines cross over, the histogram would cross over the zero line at the same time.

By nature MACD it is a lagging indicator, so indicators are a contentious issue, some people cling to them, while other people believe that the market is more of a random walk and that indicators can stay overbought or oversold for longer than a trader can remain solvent. Some people might find them useful as part of a mix of decision making signals. For example, you might trade based mostly on other factors such as support and resistance, weight of money pressures, whether the back or the lay side is being transacted the most, other runners prices leading the market etc., but some people might also take comfort from watching an indicator at the same time.

Kind regards,

Gavin
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Re: Market overview chart

Postby Steve » Fri Nov 27, 2015 7:50 pm

hi Gavin, thanks for that. I have been using the MACD along with a SMA on the price chart and also the rate of change graph and think they are quite helpful. I have read on various forex sites that the histogram can sometimes give an indication of a possible crossover before it happens giving you a chance of possibly getting a better entry point before the crossover comes.I am finding with a lot of practice that the indicators along with resistance points etc do help but still much more to do yet!!
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Re: Market overview chart

Postby Gavin » Sun Nov 29, 2015 12:04 am

Hi Steve,

Thanks for your message.

The histogram is just a different way of visualizing the distance between the MACD and its moving average line. In the absence of a histogram, just watch for those two lines starting to move closer together, which is the same as watching for a histogram starting to approach the zero line in anticipation of it possibly crossing the zero line. It crosses the zero line in the exact same moment when the MACD line crosses its moving average line. So I think that could be what the forex sites are referring to, that the histogram is easier to see, but it is essentially the same as just watching the distance between the two lines.

Kind regards,

Gavin
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Re: Market overview chart

Postby chrismane » Wed May 20, 2020 2:09 pm

So, how’s that going for you now? Did you have any success in stock market? The reason I’m asking is that it’s been a long time since you started and I think that you have enough experience to share with (if you’re still doing this, of course). I’m a beginner in Forex and I want to start trading in a more professional way, so to speak. I found a trading platform at link removed by moderator and now I’m thinking of hiring a Forex broker. I don’t know if that’s a good idea because they’re expensive. But their guide could help me, I believe. And that’s what I need right now, especially with the situation with the virus that’s been going on lately.
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