This is an indicator that i am using to base a system around. You can see more about it at this thread i started over on the Rookie Q&A forum.
http://www.forexfactory.com/showthread.php?t=92593
It is a basic price action indicator. I noly use the pin bar function of it and understand 90% of what it does.
I am especially keen on understanding exactly how it is defining a pin.
From the code;
if( nose_length/bar_length > Min_Nose_Ratio/100.0 &&
body_length/bar_length < Max_Body_Ratio/100.0 &&
(High[bar_num]-High[bar_num+1]>=bar_length/3.0 ||
I think it is saying that the nose must be at least the min nose ratio
The Body must be no longer than the max body ratio
The nose must protrude by at least a third of its length.
I dont know what the || means.
I can't work out what conditions the code directly after it is adding;
(High[bar_num]-High[bar_num+1]>=bar_length/4.0&&body_length/bar_length<0.2)) &&
Low[bar_num]<Low[bar_num+1])
Could someone please enlighten me as it is a fundamental part of my system and i dont know exactly what it is doing
There are also many times when i expect the indicator to flag but it doesn't. This is causing me to miss lots of great trades
Here are some examples, the first one is a trade i have just entered.
Thanks in advance
Paul
http://www.forexfactory.com/showthread.php?t=92593
It is a basic price action indicator. I noly use the pin bar function of it and understand 90% of what it does.
I am especially keen on understanding exactly how it is defining a pin.
From the code;
if( nose_length/bar_length > Min_Nose_Ratio/100.0 &&
body_length/bar_length < Max_Body_Ratio/100.0 &&
(High[bar_num]-High[bar_num+1]>=bar_length/3.0 ||
I think it is saying that the nose must be at least the min nose ratio
The Body must be no longer than the max body ratio
The nose must protrude by at least a third of its length.
I dont know what the || means.
I can't work out what conditions the code directly after it is adding;
(High[bar_num]-High[bar_num+1]>=bar_length/4.0&&body_length/bar_length<0.2)) &&
Low[bar_num]<Low[bar_num+1])
Could someone please enlighten me as it is a fundamental part of my system and i dont know exactly what it is doing
There are also many times when i expect the indicator to flag but it doesn't. This is causing me to miss lots of great trades
Here are some examples, the first one is a trade i have just entered.
Thanks in advance
Paul