Murrey Math Indicator

[PrTester]

Attach Is the Murrey Math Indicator, This is not my code I only Modified the Pivot Point Josh Code and port some Meta Indicator(inside are the credits).

1. Line 8/8 и 0/8 (Ultimate Support and Ultimate Resistance).
Those lines are the most strong concerning Support and resistance.

2. Line 7/8 (Weak, Place to Stop and Reverse).
This line is weak. If suddenly the price was going too fast and too far and stops around this line it means the price will reverse down very soon. If the price did not stop near this line this price will continue the movement to the line 8/8.
3. Line 1/8 (Weak, Place to Stop and Reverse).
This line is weak. If suddenly the price was going too fast and too far and stops around this line it means the price will reverse up very soon. If the price did not stop near this line this price will continue the movement down to the line 0/8.

4. Line 2/8 and 6/8 (Pivot, Reverse)
Those two lines yield the line 4/8 only to the strength to reverse the price movement.

5. Line 5/8 (Top of Trading Range)
The price is spending the about 40% of the time on the movement between the lines 5/8 and 3/8. If the price is moving near line 5/8 and stopping near the line during the 10 - 12 days so it means that it is necessary to sell in this "bonus zone" (some people are doing like this) but if the price is keeping the tendency to stay above 5/8 line, so it means that the price will be above. But if the price is droping below 5/8 line it means that the price will continue falling to the next level of resistance.

6. Line 3/8 (Bottom of Trading Range).
If the price is below this line and in uptrend it means that it will be very difficult for the price to break this level. If the price broke this line during the uptrend and staying above during the 10- 12 days it means that the price will be above this line during the 40% of its time moving between this line and 5/8 line.

7. Line 4/8 (Major Support/Resistance Line).
It is the major line concerning support and resistance. This leve is the better for the new sell or buy. It is the strong level of support of the price is above 4/8. It is the fine resistance line if the price is below this 4/8 line.

Regards,

[intrader]

Good work PrTester! I have MM realtime software, but it is helpful to have the MM lines on the trading chart! Thanks!

[Qwalla]

This works great - MUCH appreciated!

[marketguy2]

A friend of mine has been talking to Muly of Fin-Alg about doing a full fledged MM indicator. It is a difficult indicator to write. But he is willing to do it for a pretty reasonable fee.

If we can get several people together to share the cost it is possible that we can get it done.

If any of you are possibly interested, PM me.

Bryan

[tonism]

murrey math

sorry new to nt - how do I get the mm indicator into my nt platform? thx
sally

[tonism]

murrey math

sorry new to nt - how do I get the mm indicator into my nt platform? thx
sally

[NinjaTrader_Dierk]

- save to your hard drive
- start NT
- File->Utilities->Import NinjaScript->Select the zip file->Ok

[GussJ]

PrTester,

Thanks for posting MM indicator.
I am new to NT, and I just installed MM, and it seems the indicator only plots the daily MM lines.
Is there another Murrey math indicator for intraday?
I am very interested in MM, and I need to have the realtime MM indicator for NT if possible.
I have scripts of Metastock, and esignal efs, if anyone can program MM for NT

any help is highly appreciated

Regards
Guss

[NinjaTrader_JoshP]

Hi Guss,

Welcome to the NinjaTrader Support Forums.

As a last resort you can also try contacting one of the 3rd party NinjaScript Consultants here: http://www.ninjatrader.com/webnew/pa...injaScript.htm

[ehartanto]

so if u do daytrading, what pivot do u use ? Weekly, Daily or Monthly ?

i am confused which one to use ?
any idea ?

[ehartanto]

Pivot day Settings

So if u were daytrading, what time frame to use and what daily pivot do u use for this murrey math ?

it sets daily on default, but when do u need to change the pivot ?

Attach Is the Murrey Math Indicator, This is not my code I only Modified the Pivot Point Josh Code and port some Meta Indicator(inside are the credits).

1. Line 8/8 и 0/8 (Ultimate Support and Ultimate Resistance).
Those lines are the most strong concerning Support and resistance.

2. Line 7/8 (Weak, Place to Stop and Reverse).
This line is weak. If suddenly the price was going too fast and too far and stops around this line it means the price will reverse down very soon. If the price did not stop near this line this price will continue the movement to the line 8/8.
3. Line 1/8 (Weak, Place to Stop and Reverse).
This line is weak. If suddenly the price was going too fast and too far and stops around this line it means the price will reverse up very soon. If the price did not stop near this line this price will continue the movement down to the line 0/8.

4. Line 2/8 and 6/8 (Pivot, Reverse)
Those two lines yield the line 4/8 only to the strength to reverse the price movement.

5. Line 5/8 (Top of Trading Range)
The price is spending the about 40% of the time on the movement between the lines 5/8 and 3/8. If the price is moving near line 5/8 and stopping near the line during the 10 - 12 days so it means that it is necessary to sell in this "bonus zone" (some people are doing like this) but if the price is keeping the tendency to stay above 5/8 line, so it means that the price will be above. But if the price is droping below 5/8 line it means that the price will continue falling to the next level of resistance.

6. Line 3/8 (Bottom of Trading Range).
If the price is below this line and in uptrend it means that it will be very difficult for the price to break this level. If the price broke this line during the uptrend and staying above during the 10- 12 days it means that the price will be above this line during the 40% of its time moving between this line and 5/8 line.

7. Line 4/8 (Major Support/Resistance Line).
It is the major line concerning support and resistance. This leve is the better for the new sell or buy. It is the strong level of support of the price is above 4/8. It is the fine resistance line if the price is below this 4/8 line.

Regards,

[NinjaTrader_JoshP]

It is up to you which one you would want to use. The values are available to you and depending on your trade ideas you can use whichever one.

[ctrlbrk]

Wanted to say thanks for this.

I am quickly becoming a fan of Murrey Math Lines (MML's). There is a huge(!) discussion on forexfactory about use of this and price action. It's focused on currency pairs but most can be applied to other markets.

http://www.forexfactory.com/showthread.php?t=159471

Mike

[djohnsonhot]

Murray Math

Hi, Mike,

I visit your blog and have been enjoying your great indicators. I was wondering if you use the Murray Math indicator on minute charts. I use 2 and 5 minute charts to cut out noise and would like a simple system such as this to improve my entries - - whilst using your ZeroLag MACD, TSSupertrend, and hte ECO2 indicators....

I sure would appreciate your input.
Thanks, DJ

p.s. Mike, your blog will not allow me to create a user name and email/URL address for some reason.

[ctrlbrk]

djohnsonhot,

I use MML's on a 10946 volume chart and a 4 range or 2584 volume chart. As for the problem with the chat box on my blog, I've sent you a private message.

Mike