Candle

Hi
How can you program such Candel has anyone have an example?

Or hammer or other Candel?

Thanks Pit

File: Candel.PNG

choose “other” then candle patterns, however, unfortunately, you need to specify the candle length so it filters out bad formations, which is what i wanted to do, but there’s no documentation to learn how to do it. 🙁

Hello,

there are 11 candle patterns (Doji, Hammer, Engulfing, Harami, Shooting Star, Piercing Line, etc.) already defined in the program, just choose Other -> Candle pattern and then choose the pattern on the right.

If you want to define some custom candle pattern, it is possible. For example to look for very long candles, the condition could be like:

IF

(High – Low) > 3 * ATR(10)

or simpler (the same)

IF

Bar Range > 3 * ATR(10)

This means that the range of the bar is bigger than 3 times the average range, so it means it is really big.

Mark

cool…isnt there anyway to specify a range in length of a candle, like, if Bar[1] = 30 pips or more and Bar[2] (that makes up the formation say, for Bearish/Bullish Engulfing) = 10 pips in length… enter market on bar[3]

yes, there is a Bar Range function you can use (in Custom Indicators -> Bar Range). It returns value in real pips, so for example 0.03, not 30 if the range is 30 pips.