Candlestick pattern recognition - page 7

[brax64]

Here you go tobi77...

I can't test it 'cause market is close, but should be fine... let me know if is this what you want or if there is some issue. The yellow numbers above and below the candles are not plotted by the indi, I did put them by hand just to check the calculation.

You can move the panel adjusting Pan_X and Pan_Y parameters.

Do you mind tell me how you'll use it?

Regards

tobi77:
hello,

i am looking for an indicator which can help me in my price action scalping strategy

in its simplest form it should just show me a value either in red color or green color

value 1 : analyze the latest 4 + the actual candlestick in counting the length of the upper candles (not the body) and add them together

value 2 : analyze the latest 4 + the actual in counting the length of the lower candles (not the body) and add them together

in the screenshot the upper candles of a to e are 18 + 2 (counting 5 digit micropip) = 20

in the screenshot the lower candles of a to e are 13 + 30 + 3 + 19 + 22 (5 digit micropip) = 87

show "bull power value" in upper corner = value2/value 1 (87/20 = 4,35) in green color

show "bear power value" in upper corner = value1/value 2 (20/87 = 0,23) in red color

thanks for any comments/help in case you know such an indicator or how to program it easily as i have not much knowledge of this

[tobi77]

wow that's awesome....many thanks, brax

i will test it on monday...

my trading method is pretty simple but descretionary...much is based on experience of watching the charts for thousand of hours

1. i define possible support and resistance zones by drawing lines at the most recent swing lows and highs of 1h and 4h chart

2. i use sepdem indicator to support this

3. then on the 5min chart i watch for special candlestick formations at these levels which indicate a small price reversal

i just discovered many reversals go together with values such 4,5 : 0,5 for example so i plan to evaluate it with the indicator in real time if there is some consistency with specific numbers

i will let you know if it works, maybe we can add an alarm signal then or adjust the number of analyzed candlesticks

[Spurious]

Tobi77

Would you be so kind as to post your Sepdem Indicator? I had a hunt around & cant find it on the forum.

Thanks

[pavaka]

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[Spurious]

Thanks so much Pava. Much appreciated.

[tobi77]

wow..i didn't knew there was version 2 available.. what has changed? i only have the old one

supdem.ex4

[pavaka]

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brax64:
Here you go tobi77...

I can't test it 'cause market is close, but should be fine... let me know if is this what you want or if there is some issue. The yellow numbers above and below the candles are not plotted by the indi, I did put them by hand just to check the calculation.

You can move the panel adjusting Pan_X and Pan_Y parameters.

Do you mind tell me how you'll use it?

Regards

Cool indicator...would be great to be able to change the number of candlesticks in the calculations...

[brax64]

PA candlestick updated...

Hi Pava, tobi77

I did update the indicator; now you can select by external input how many candles you want to analyze; I did also added labels on the panel to remind you the number of candles and also the sum of the pips up and down. Remember to type in the "Candles" parameter, the number "included"the current one... 'cause pc's start counting from "0"; humans from "1"..

Let me know if something wrong...

Best Regards

Pava:
Cool indicator...would be great to be able to change the number of candlesticks in the calculations...

[pavaka]

...

brax64:
Hi Pava, tobi77

I did update the indicator; now you can select by external input how many candles you want to analyze; I did also added labels on the panel to remind you the number of candles and also the sum of the pips up and down. Remember to type in the "Candles" parameter, the number "included"the current one... 'cause pc's start counting from "0"; humans from "1"..

Let me know if something wrong...

Best Regards

Thank you...will be testing immediately:)

[pavaka]

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Does anyone know why this indicator telling exactly the opposite of what market is doing?