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which indicator or technical method to measure average height of a candle?

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Bharamappa Gojanur
351
Bharamappa Gojanur  
Hi i want to build a EA which should trade only when with the minimum specified height of the consecutive candles is being formed. want to know which indicator or technical method is adviced?
Alain Verleyen
Moderator
32037
Alain Verleyen  
drbmgojanur:
Hi i want to build a EA which should trade only when with the minimum specified height of the consecutive candles is being formed. want to know which indicator or technical method is adviced?
Search in the codebase, the market or post a request in the Jobs section.
Dua Yong Rew
5455
Dua Yong Rew  
drbmgojanur:
Hi i want to build a EA which should trade only when with the minimum specified height of the consecutive candles is being formed. want to know which indicator or technical method is adviced?
average true range as known as ATR
Bharamappa Gojanur
351
Bharamappa Gojanur  
doshur:
average true range as known as ATR
thank you, i didnt knew the terminology, thanks a lot :)
Dua Yong Rew
5455
Dua Yong Rew  
drbmgojanur:
thank you, i didnt knew the terminology, thanks a lot :)
you are welcome
Alain Verleyen
Moderator
32037
Alain Verleyen  
doshur:
average true range as known as ATR
ATR may or may not match your needs, it's better to understand it before using it.
Sergey Golubev
Moderator
96049
Sergey Golubev  

Hi drbmgojanur,

I think ATR may be good for you.

But if you are looking for doji ("Japanese candlesticks" by Elder) so there are 2 indicators about it:

The last indicator is giving the doji to you (doji is the candle where open and close are equal) as a blue dot. The theory behind this is here and here. And this article may help.


MetaTrader Trading Platform Screenshots

EURUSD, M15, 2013.05.28

MetaQuotes Software Corp., MetaTrader 5, Demo

doji

EURUSD, M15, 2013.05.28, MetaQuotes Software Corp., MetaTrader 5, Demo


Bharamappa Gojanur
351
Bharamappa Gojanur  
thank you newdigital
luckybaby123
8
luckybaby123  

"Japanese candlesticksmainly explain the pattern of the price. ATR tell you the average range of the price.

I think ADX will be good for you too. Or you can just calculate the standarddev of price. They would tell you the strength and deviation of the market.

Documentation on MQL5: Standard Constants, Enumerations and Structures / Chart Constants / Chart Representation
Documentation on MQL5: Standard Constants, Enumerations and Structures / Chart Constants / Chart Representation
  • www.mql5.com
Standard Constants, Enumerations and Structures / Chart Constants / Chart Representation - Documentation on MQL5
Sergey Golubev
Moderator
96049
Sergey Golubev  

Just very small video about doji - video is accompanying by text so we can just read the text:


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