Candle Breakdown

Here you can post and download custom indicators. PLEASE: Do not start topics unless you are posting your own indicator, they will be moved to appropriate section even if you do.

Moderator: admin

Candle Breakdown

Postby Apprentice » Fri Feb 09, 2018 6:00 am

USDSEK D1 (02-09-2018 0950).png

If "Add Body" is on and Add Wick is off.
The indicator will be the sum of up and down Candle Body in last N periods.

My initial assumption was.
Down wicks give bullish signal.
Up wicks give bearish signal.

Observation did not confirm this assumption.

I noticed wicks are contrarian signal,
therefore inverse logic has been used.

If used wicks are added fo sum.
Candle Breakdown.lua
(4.32 KiB) Downloaded 54 times
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 18694
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Return to Custom Indicators

Who is online

Users browsing this forum: Google [Bot] and 9 guests