I’ve been trying to figure this out for a while now and I’m not sure what to call this.
If you look at a chart in Metatrader 4, you will see that a square on the grid is worth a certain amount of pips, and then if you scroll down the charts, the squares on the grid may be worth double. Is this called volatility? And if so, is there a numerical way to measure this?
I have a trading system that I came up with that depends on reaching a certain amount of pips. However, sometimes, a square on the grid is worth 2 times more than it usually is, and my stop loss is hit way to quick.
As an example, if you look at the 15M chart on the EURUSD, you will see that one square equals to about 7 pips at this moment. However, if you scroll back to let’s say Jan. 10, you will see a square is worth about 11 pips.
Does anyone know what I’m talking about? And if so, is there a way to accurately measure this?
I am not familiar with grid systems, but the x axis of mt4 is scaled by time. So assuming x is relatively static you can just grab the high/low range of that time period or would that not work?
Come to think of it though, if x is statically scaled and y isn’t (because it’s based on price movement) then you wouldn’t be able to measure the square ahead of time (predicting price). When the price is moving up or down the y axis is getting autoscaled.
Yeah, it’s the Y axis that scales, and I wish it wouldn’t. Maybe there is a way to make it not scale?
Nobody has found a way to control the Y scale. Some use a thick line of a certain pip value and keep it on their charts to help them judge the size of the bars.
to make scale fix, right click on the chart, click on property, then common tab, then check the scale fix. and adjust your scale there
Holy crap. Thanks for sharing this, I never would of noticed it.