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    Now, What Does It Meant by Each Term and How It Can Interpreted in MQ4 Language?

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    anyzen
    The document discusses implementing a Buy Sell Pressure Indicator (BSP) in MT4 that was originally designed for MQ4. The BSP calculates buy and sell pressure ratios based on comparing the current traded price to the bid and ask prices to determine if volume should be added to the buy or sell volume totals. It asks how to translate the terms and logic into MT4 code.

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    Now, What Does It Meant by Each Term and How It Can Interpreted in MQ4 Language?

    Uploaded by

    anyzen
    8 views2 pages
    The document discusses implementing a Buy Sell Pressure Indicator (BSP) in MT4 that was originally designed for MQ4. The BSP calculates buy and sell pressure ratios based on comparing the current traded price to the bid and ask prices to determine if volume should be added to the buy or sell volume totals. It asks how to translate the terms and logic into MT4 code.

    Original Description:

    Buying and Selling Pressure

    Original Title

    BSP

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    The document discusses implementing a Buy Sell Pressure Indicator (BSP) in MT4 that was originally designed for MQ4. The BSP calculates buy and sell pressure ratios based on comparing the current traded price to the bid and ask prices to determine if volume should be added to the buy or sell volume totals. It asks how to translate the terms and logic into MT4 code.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    8 views2 pages

    Now, What Does It Meant by Each Term and How It Can Interpreted in MQ4 Language?

    Uploaded by

    anyzen
    The document discusses implementing a Buy Sell Pressure Indicator (BSP) in MT4 that was originally designed for MQ4. The BSP calculates buy and sell pressure ratios based on comparing the current traded price to the bid and ask prices to determine if volume should be added to the buy or sell volume totals. It asks how to translate the terms and logic into MT4 code.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    I've found what they call it BSP indicator, but I didn't found it in MQ4 format till now.

    Kindly help me to implement that concept for MT4.


    The associated mathematical formula for BSP is as following:

    Buy Pressure = Buy Volume / (Buy Volume + Sell Volume)


    and

    Sell Pressure = Sell Volume / (Buy Volume + Sell Volume )


    where;

    Current Buy Volume = Last Buy Volume + Current Traded Volume


    if Current Traded Price >= Current Ask Price
    and
    Current Sell Volume = Last Sell Volume + Current Traded Volume
    If Current Traded Price <= Current Bid Price

    Remark: Trades executed between the bid and ask prices are ignored.
    Now, what does it meant by each term and how it can interpreted in MQ4 language?
    Thanks for your support and guidance.

    double Current Traded Price =Close[0];


    double Current Bid Price = MarketInfo("EURUSD",MODE_BID);
    double Current Ask Price = MarketInfo("EURUSD",MODE_ASK);
    if Current Traded Price >= Current Ask Price
    Current Buy Volume = Last Buy Volume + Current Traded Volume

    If Current Traded Price <= Current Bid Price


    Current Sell Volume = Last Sell Volume + Current Traded Volume

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