In parameters setting can we choose only one indicator??

Should be better if we could build our strategy being able to choose more indicators ...... :-)

I'm looking for an indi which paints candles depending on Heiken Ashi indicator, but of course keeping original candles (not showing HA candles, just their color on candlesticks...)

Could you code it??Or add HA option to your existing ones?

Thanks 

Hi, 

what is the status of update??

We are waiting it :-)  

Hello! I like your idea, but this would only be useful for trend direction,

I like to give you this new idea to also make this indicator to be better for enter the market.

instead of just painting the candles when above or below a level,

you could paint them positive if for example rsi is sloping up,

this could almost be leading. and you can see divergence also directly on the candles.

and you can have a setting to use closed candles or open candles.

where the open would be leading and the closing is more for confirmation.

this way you will see if momentum is agree with price or is there divergence. 

or adx if sloping up, this tells you the move is strong in what ever the direction is.

if I could code my self this is what I would do. 

Hello,

I uploaded the new version today, waiting for the moderator to approve.

Ben 

Hi fab,

Today I work on an update again.

I changed CandlePainter from using a single indicator to a multi indicator(filter).

You can choose to use multiple indicators to make a filter that only paints the bars when all values show the same trend.

Example: If you use RSI and MACD Level and set RSI Uptrend:50, Downtrend:50 and MACD Uptrend:0 Downtrend:0, you will get this result:

Here you can see that the MACD prevents the RSI from giving false Uptrend signals.

I will update this version as soon as possile, I still have to make some ajustments.

Mainly to still be able to use the on chart menu, because it's not just a single indicator list anymore.

You must be able to select multiple indicators as a filter.

To be continued!

Ben 

Hi cozyman,

Slopes can be interesting, but for example the slope of the RSI indicator will be exactly the same as the candles on the chart.

If you want to use the RSI(and most other oscillators) slope you'll have to smooth it with an MA over the RSI values.

I added the RSI slope to CandlePainter just to show you the results of painting the candles.

Please take a look at the screenshot below to see what I mean:

 Ben

Hi Fab,

Thanks for your kind words. 

I'll add a popup alert and a sound alert with the option to switch on or off.

Ben 

very good indicator thank you

but there is a big problem

i have tested it with several different numbers and find some great signal generating with it, but most of them only work when you enter at the first ...

and when you don't enter at first , for example a signal started in 4am and you have had sleep at that time , and at 9am or 10 am when you enter the market

when you are awake , it is too late and market will turn against you , while it is generating the same signal and then when you will in several pips of loss

market changes its direction and the indicator too , and you leave in lots of losses alone.

what do you think to enter after first signal safely.

thank you

Hello Seyedmajid Masharian,

There is no problem with the indicator, it works like it's supposed to work; Paint the candles according to the trend of the selected indicator.

If your strategy uses the trend of an indicator I advise you to follow your strategy and not just enter the market when you wake up, that's not really a strategy. 

I don't know what timezone you live in but you should also pay attention to the forex market hours, when markets open, volatility will go up. (http://forex.timezoneconverter.com/) 

Good luck,

Ben 

Hi,

I am interested in your Candle Painter indicator and will rent it very soon. Can you add the ADX indicator in the list of selectable indicators? Like +DI crosses -DI and +DI/-DI crosses ADX main. Please I need this feature. Thanks inadvance.

Hi Michael,

The ADX indi is added in the latest version.

Hello everybody,

Today I uploaded Candle Painter v1.3

This new version offers a Master and Slave configuration.

You can choose between Master or Slave and an instance number in the inputs tab.

If you use CP on multiple charts and want to change CP's settings only once, you are gonna like this new feature.

Slave instances of CP with the same number as the Master instance will copy the master's settings automatically.

Now if you have a CP Master 1 and a CP Slave 1, the slave will automatically copy all settings of the master chart.  

If you also want the slave instance to copy the master's symbol, you can set this to true.

Once you change the chart symbol of the Master instance of CP, the chart of the slave instances will also change their symbol.

Timeframes will not be changed.

This Feature is particularly handy for multi currency traders that also work with multiple timeframes.

Only change one and the rest will follow. 

 Ben