Project Scope - Build an indicator to detect consolidation and breakout of consolidation

Job finished

Execution time 39 days
Feedback from employee
Thanks for the patience and the job. Looking further to work together.
Feedback from customer
Very happy with my scanner. Roman helped me think through things that I never thought of. We still have more projects to do and I will indeed work with him again. Thanks Roman.

Specification

I would like a professional developer to create for me an indicator that can monitor the movement of price over a period of time (across multiple TFs) and generate an alert when a candle* is reaching a wider price spread** in relation to the average price spread of the preceding candles.

Trade signal criteria:

1.      1. Minimum of 3 narrow price spread candles(small candles that occur during consolidation)to begin monitoring. Maximum none.

2.      2. A Narrow price spread is defined as:

a.       Price spread that is less than a certain % (eg. 50%)  of the range*** of a candle ( I will provide the % values)

b.      Price spread that is less than a certain % (eg. 0.05%)  (ie. the % change between the open and close of the candle) ( I will provide the % Values)

                                                               

1.      3. Generate an alert when the following occurs

                    a. The signal candle's price spread is at minimum "X" times(eg.1.5;2)  the average price spread of the preceding narrow candles and/or ( I will provide the value)

Pr                 b. The signal candle's  price spread is less than a certain % (eg. .10%) (% change between the open and close of the candle)(I will provie the % values)

.      The percentage values will have to specific to each TF and each currency/asset type (there may be some overlap). The indicator should be able to produce an alert and a simple arrow on the chart(going in the opposite direction of the signal candle) with the following information(timeframe, the number of small candles identified, date and time, type of signal candle(ie, bullish or bearish) and the currency pair/asset.

           I believe this a very simple project since it is simple math to produce the alert. Additionally this is phaseone of bigger project. Only serious inquries. Thank you


 



*This candle would serve as the “Signal Candle”

**Price spread is difference between the open and the close of an individual candle.

***The range is the distance between the high and the low of each individual candle


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Project information

Budget
50 - 200 USD