• Overview
  • Reviews (3)
  • Comments (1)

Average Candle Body

Improve your price action analysis by measuring your Average Candle Body.

  • Study and detect candlestick patterns (which very often necessitate the size of the body);
  • Measure historical volatility, similarly to Average True Range (ATR);
  • Avoid position entry and/or exit on false signals, by combining this indicator with other ones.


Settings

  • Prices - Prices used to calculate the body's size: |Open - Close| or |High - Low|
  • Resultant Unit - Unit of Output of Calculations. The percentage unit is measured in relation to the open price.
  • Method - Averaging Method. The following are available:
    • SMA - Simple Moving Average
    • EMA - Exponential Moving Average
    • SMMA - Smoothed Moving Average
    • LWMA - Linear Weighted Moving Average
    • JJMA - JMA Adaptive Average
    • JurX - Ultralinear Smoothing
    • ParMA - Parabolic Smoothing
    • T3 - Tillson's Multiple Exponential Smoothing
    • VIDYA - Smoothing with the use of Tushar Chande's Algorithm
    • AMA - Smoothing with the use of Perry Kaufman's Algorithm
  • Period - Sample Size used in the Averaging Method.
  • Phase - Only used by the following methods. Each method has a different meaning for this parameter:
    • For JJMA it is an external Phase variable changing from -100 to +100;
    • For T3 it is a smoothing ratio multiplied by 100 for better visualization;
    • For VIDYA it is a CMO period;
    • For AMA it is a slow EMA period; AMA's fast EMA period is always 2 by default; The ratio of raising to the power is also 2.
  • Horizontal Shift - Horizontal Shift, as shown in the chart. A horizontal shift of 0 means that there's no shift.

Enjoy and Evolve!

Gennadiy Voltornist
12109
2017.12.22 17:21 
 

User didn't leave any comment to the rating

Daniel Andrejczuk
5386
2017.11.09 03:00 
 

User didn't leave any comment to the rating

serra2
36
2017.05.16 14:53 
 

Interesting indicator with great potential..