Spike indicator with alert
Hi everyone,
Looking for an indicator that would sound an alert when there is a large spike, the parameter of which could be changed. Probably best if I tell you why I'm looking for this to help you understand.
For example, if one was to open an EU chart for July 4, 2013 you would see a spike of about 60 pips. This happened at the July NFP candle open. Immediately after the posting of NFP for the month, the market immediately retraces approximately 60 pips before moving in the news direction. Why 60 pips? Because that is what was required by the broker kingpins to take out every retail trader stop on the playing field. After that the market went about a 100+ pips in the direction indicated by the NFP announcement.
What if there was an alert on a large spike so you could jump onto the retracement?
Any feedback would be helpful.
wifiguy
Since spike bar can not be detected in runtime (it can be determined that it is a spike bar only after the fact) do you mean a bar the exceeds some required range in pips?
wifiguy Since spike bar can not be detected in runtime (it can be determined that it is a spike bar only after the fact) do you mean a bar the exceeds some required range in pips?
Thanks for the response.
I'm looking for something that would alert when there is a tail of say 40 pips but in real time not after the candle has closed
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Hi everyone,
Looking for an indicator that would sound an alert when there is a large spike, the parameter of which could be changed. Probably best if I tell you why I'm looking for this to help you understand.
For example, if one was to open an EU chart for July 4, 2013 you would see a spike of about 60 pips. This happened at the July NFP candle open. Immediately after the posting of NFP for the month, the market immediately retraces approximately 60 pips before moving in the news direction. Why 60 pips? Because that is what was required by the broker kingpins to take out every retail trader stop on the playing field. After that the market went about a 100+ pips in the direction indicated by the NFP announcement.
What if there was an alert on a large spike so you could jump onto the retracement?
Any feedback would be helpful.