1 candle back indicator

I see. What matters is the trading idea itself.

So the highlighting stuff aside, I quickly added an alert function with fixing the bug so that the color parameters can work as expected.

This version also takes a rest (except pip counter) until new bars come so the load might be slightly reduced.

Miyagi, there seems to be a bug in the alert. I set the alert value to 75 (ie, 0-75p) and the next candle came up as 13, but no alert came.

FxH, that is probably because I coded the alarm in such a way that it comes only at the first time pip count falls into a certain range. Once (or already) count is under the range no alarm will come until it rises above the threshold and falls back again.

I thought this is convenient, but it may be not since what we are measuring is one (or a small number of) candle(s). So I added “Alert_On_Every_Bar” input option to see if it would work as expected.

Thanks Miyagi, works great now.

Hello Miyagi,
Thank you for your work. Is possible to extend this indikator for one option. I want the option select a different candle that show high and low, for example the 4th candle.

Regards
Henri

Tanaka san,
Glad to see my first code again. I have added “Lead_Marker_Shift” input option as well as some other price types (highest and lowest).
Attached is an example for watching previous hour's range. Hope it works for you.

Miyagi san,
that`s it. Works fine.

Dōmo arigatō,
Henri

Miyagi, I am coming back to work with this indi and I have noticed that you changed how it is supposed to work. It started off well, but during the last mod request you changed the nature of the indi to something completely different.

The early posts of this thread show how it is supposed to be. I have included some notes on the attached pic to try and help you see it again.

This indi is not supposed to make boxes, or create box-like zones. Not like your other indi that paints boxes, or even like the Squalou indi does. This indi is only supposed to highlight the top of a single candle, and the bottom of a single candle, -n- bars back from the current working candle (which we ignore), and -n- bars apart from each other. And then show us how big the gap is in pips between these 2 extremes. That's it.

As I said, your early version of this indi worked as expected. But somewhere along the way you changed it to make boxed zones.

To say it another way, the Blue and Red marker lines should not be the same length. Since the candles they highlight are -n- bars apart, these 2 lines will never be the same length. (The only exception to this of course, will be if they are set up to mark the High and Low of the same candle.)

The second pic shows how it should look.

I hope I am being clear. Let me know if you have any questions...

FxH

Thank you for the clarification and I understand what you mean, FxH.

I extended it for Tanaka, hence the indi name +, and it works in that way only when price type was set to highest/lowest.
If set to other price types (open/close/high/low) this version still works in the same manner as before.

And for the bar position, the current bar is indexed as 0 in mql.
Though this might give you a feeling of strangeness, I didn't feel it as unusual since I code, and left it.
It was set to 1 internally before and this version requires so...

It's all clear now. Thanks for being so patient with me. Now you can see why we need just 1 super indi, right? Too many individual custom indis to remember all the rules!

This is fun to see. The indi is set for 4 back bars. In this pic both the red and blue lines are sitting on exactly the same level! I think this is the first time I've actually seen this happen. Talk about the ultimate breakout zone, I don't think you can get any narrower than this! LOL

I AM NEW HERE......SO CAN ANYONE HELP ME TO UNDERSTAND HOW THE INDICATOR WORKS ?

tHANKS

Hi

There's no rules explained, but from what I can gather from the description of the indi, it seems to be 'measuring' a lack of momentum (price exhaustion) in the direction of the trend over x number of candles to signal a break out to the opposite side of the current trend.

I can't say how precisely to use this indicator - the author can best explain that.

This is my interpretation only - Forexhard, pls correct me if i am wrong so the wrong message does not get passed on.

Cheers

Thanks for your reply.

Hi forexhard,

I would love to know how to use this indicator as well.
I've read the True trading tactics thread and I'm sure that you could give us a lot of informations.
Thanks in advance

Is this thread still alive ? anybody here ?
Please help me to modify this indi as pict below.