Indicators: Candle Movement Monitoring

[Automated-Trading]

Candle Movement Monitoring:

This indicator is used to monitor the movement of the previous candle from 1m to 1D timeframe.

Author: MasKabul

[Burli1980]

Hey, this indicator looks very intersting i i think i will try it out. But i have one question. What does the numers 3,2,1,0 mean?

 

Regards Burli

[MasKabul]

Burli1980:

Hey, this indicator looks very intersting i i think i will try it out. But i have one question. What does the numers 3,2,1,0 mean?

 

Regards Burli

This indicator is used to look for possible retrace movement, ie when the movement 4H candle or D1 has exceeded the average price, especially if it exceeds the maximum movement.

0 is the candle Time [0] or candle now.
1 is a candle Time [1] or the first previous candle.
2 is a candle Time [2] or the second previous candle.
3 is a candle Time [3] or the third previous candle.

[DGK754900]

MasKabul:
This indicator is used to look for possible retrace movement, ie when the movement 4H candle or D1 has exceeded the average price, especially if it exceeds the maximum movement.

0 is the candle Time [0] or candle now.
1 is a candle Time [1] or the first previous candle.
2 is a candle Time [2] or the second previous candle.
3 is a candle Time [3] or the third previous candle.

Hi ! Thank You for the indicator . Greatly appreciatiated .  

The Min and Max numbers , are they based on the pips movement ?     I think it's the amount of times the price excedes the prior price ( average price ) . Is that right ?

 Thank you and all . Peace . God Bless 

[MasKabul]

DGK754900:

Hi ! Thank You for the indicator . Greatly appreciatiated .  

The Min and Max numbers , are they based on the pips movement ?     I think it's the amount of times the price excedes the prior price ( average price ) . Is that right ?

 Thank you and all . Peace . God Bless 

Yes, you are truly right. The min ,max and ave are counted from candle movement in pips (High-Low). With the rule below :

1. The number above M1 is minimum,maximum and average movement in pips from M1 (1 minutes) time frame.
That are counted from 5 previous candle M1.
2. The number above M5, are counted from 3 previous candle M5 (5 minutes).
3. The number above M15, are counted from 2 previous candle M15 (15 minutes).
4. The number above M30, are counted from 2 previous candle M30 (30 minutes).
5. The number above 1H, are counted from 4 previous candle 1H (hourly).
6. The number above 4H, are counted from 6 previous candle 4H (4 hours).

7. The number above 1D, are counted from 5 previous candle 1D (daily).

The usage of this indicator, depend on the need.

For the example,

1. If we are surely that the price touch the last move up direction and may retrace to down side, and we saw that the second previous candle is bull candle, and first previous candle is bear candle, we can start to make an opening sell (short). And vice versa.
2. We can use minimum movement, as take profit point, with the big probability to touched. 
And so on.

Thank you for your interest in this indicator. May God bless you all...