Many times, when a trading system is being designed, the developer needs a fast and effective way to test the effectiveness of the previous candlesticks being used to predict future movement on different charts from different time frames.
This indicator gives you an overview picture of how many guesses are right vs how many guesses are wrong.
Blue crosses are the guesses for the particular bars.
Red crosses imply that the guesses are wrong for the particular bars which the guesses have been made.
Buyer can request on the methodology used in determining the guesses and fine tune his/her trading strategy to get better returns.
Other candlestick pattern analysis can be built in separate job requests.
- Reveal the right and wrong guess distributions of the actual candlestick range (High - Low) on the predicted bar.
- Statistics are also written to the global variables for further analysis by the user.
Number of Bars
- Look back number of bars into the past. 0 to mean All.