MQL Service Shop My Account  Cart Contents  Checkout  
  Top » Catalog » Scripts » Charting » My Account  |  Cart Contents  |  Checkout   
Categories
OpenRemote (2)
Programming service (2)
Expert Advisors (2)
Indicators (4)
Scripts-> (9)
  Charting (4)
  Trading helps (5)
Skype Me

Quick Find
 
Use keywords to find the product you are looking for.
Advanced Search
Google Search
Testimonials more

Michal's Renko Bar script is easily the best implementation of Renko for Metatrader. It is stable an...(read more)


Rick Smith
Google
Amazon
Information
Shipping & Returns
Privacy Notice
Conditions of Use
Contact Us
Spread bars Please login for prices


This script is similar to the Constant Range Bars or Renko Bras. It makes a new offline chart very useful for somebody who trades hedging or carry strategies. It makes possible to chart your basket in the Metatrader and put any indicator or even EA on it!

It has a number of input parameters:

extern double Shift = 10.0;
extern string Symbol1 = "EURUSD";
extern double Weight1 = 1;
extern bool Invert1 = false;
extern string Symbol2 = "USDCHF";
extern double Weight2 = -1.6;
extern bool Invert2 = true;
extern string FileName = "SPREAD";

The resulting chart is calculated according to the formula:

Shift + Weight1 * Symbol1 + Weight2 * Symbol2

For the default input parameters it is therefore:

10 + EURUSD – 1.6 / USDCHF

The resulting file is SPREAD which you must open offline.

Note that for Metatrader all quotes must be above 0. Therefore you must match the Shift parameter (which would be a virtual 0 line) that nothing from the equation falls below 0. Otherwise you can get HistoryBase errors (check the Journal tab in the Terminal) and the offline chart can have updating problems.

When you are combining symbols with different point value make sure that you correctly set Weight parameters. For example when symbol one is EURUSD and symbol two USDJPY then Weight1 should be 100 and Weight2 -1. This way you will get: 100*EURUSD – USDJPY. You can also set Weight1 to 1 and Weight2 to -0.01 and the result would be: EURUSD – 0.01*USDJPY. Anyway resulting number should have the same order of magnitude to be most useful.

With this setup you can get virtually any chart composed from two currencies (or even more when you attach the script to offline SPREAD charts). This way you can get any basket chart in Metatrader even when your broker does not have this symbol. This can be for example a Dollar Index chart. What is really cool is that you can put any indicator on this chart or even EA and it will work.

These kinds of charts are for sure very useful for example for hedging and carry trading strategies. One can construct his own ‘symbols’ which would have desired characteristics.

This video shows a demonstration of usage of the off-line charts.



Some frequently asked questions about application of off-line charts are answered here Off-line charts FAQ.pdf.

Available Options:
Version:
This product was added to our catalog on Tuesday 22 July, 2008.
Reviews
Customers who bought this product also purchased
Moving Averages Cross EA
Moving Averages Cross EA

Multi Period Converter
Value Charts
Value Charts
One Night Stand
One Night Stand
Instant Orders Symbol
Instant Orders Symbol
Highest high/lowest low X days
Highest high/lowest low X days
Shopping Cart more
0 items
Notifications more
NotificationsNotify me of updates to Spread bars
Tell A Friend
 
Tell someone you know about this product.
Reviews more
Write ReviewWrite a review on this product!
Google
Languages
English French
Currencies


Copyright © 2007-2017 MQL Service Shop