Power candle indicator | Forex Factory

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Power candle indicator

  • #1
  • First Post: Dec 10, 2018 5:39am Dec 10, 2018 5:39am
Anyone have an indicator for when a candle closes and has very little wick so showing good strength?
  • #2
  • Edited Dec 11, 2018 8:01am Dec 10, 2018 8:28am | Edited Dec 11, 2018 8:01am
Quoting JustyJust
Anyone have an indicator for when a candle closes and has very little wick so showing good strength?
Try this, just copy and paste into a new indicator file and then compile.
Edit: I compiled and attached the file.

//****************************
input double Threshold=5; // Wick Percentage of Body
datetime lastBarTime;

int init(){
lastBarTime=iTime(Symbol(),Period(),0);
return(0);}

int start(){
if(lastBarTime!=iTime(Symbol(),Period(),0)){
lastBarTime=iTime(Symbol(),Period(),0);

if(Close[1]<Open[1])
if(((Close[1]-Low[1])/(Open[1]-Close[1]))<=(Threshold/100)){Alert("Wick size smaller than ",Threshold);}

if(Close[1]>Open[1])
if(((High[1]-Close[1])/(Close[1]-Open[1]))<=(Threshold/100)){Alert("Wick size smaller than ",Threshold);}}

return(0);}
//****************************
Attached File(s)
File Type: mq4 PowerCandle.mq4   2 KB | 3,605 downloads
  • #3
  • Dec 10, 2018 12:17pm Dec 10, 2018 12:17pm
does not work...
  • #4
  • Dec 10, 2018 1:49pm Dec 10, 2018 1:49pm
Quoting vitas334
does not work...
does now...
  • #5
  • Jan 11, 2019 10:57am Jan 11, 2019 10:57am
Only seeing this now! Put it on a chart and got an alert but it didnt show which candle
  • #6
  • Jan 11, 2019 11:43am Jan 11, 2019 11:43am
Quoting JustyJust
Only seeing this now! Put it on a chart and got an alert but it didnt show which candle
I can add a graphic but it is always the most recently closed candle.
  • #7
  • Jan 11, 2019 12:03pm Jan 11, 2019 12:03pm
ok cool sure thats ok, i watch multiple pairs so does it say which pair the alert is for?
  • #8
  • Jan 11, 2019 12:32pm Jan 11, 2019 12:32pm
Quoting JustyJust
Anyone have an indicator for when a candle closes and has very little wick so showing good strength?
MT4 has everything for you to be profitable. You just need to spend some time on the indicators and know the good and bad side of each one
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #9
  • Jan 11, 2019 12:33pm Jan 11, 2019 12:33pm
Quoting JustyJust
ok cool sure thats ok, i watch multiple pairs so does it say which pair the alert is for?
Ill add that as well. Just gotta get off work lol
  • #10
  • Jan 11, 2019 2:50pm Jan 11, 2019 2:50pm
Quoting 9jatrader
{quote} MT4 has everything for you to be profitable. You just need to spend some time on the indicators and know the good and bad side of each one
yea sure !!! price touch ema and over b with over s and you will come profitable trader

anyway goldman sucks need your magnificent experience with mt4 indicators you will be rich making them more richer

damn, its like a stupid mother trying to foll her kids with a nice story or some candies

stop the bs, stop stop it, at least fool us with a good plan
  • #11
  • Edited 9:30pm Jan 13, 2019 8:43pm | Edited 9:30pm
Here is an improved version with a lot of added features. It should be error free. Enjoy!

edit: changes to About tab, label display.
Attached Image (click to enlarge)
Click to Enlarge Name: WickLabel2.0.PNG Size: 37 KB
Attached File(s)
File Type: ex4 Wick Label 2.0.ex4   28 KB | 2,998 downloads
  • #12
  • Jan 14, 2019 2:56am Jan 14, 2019 2:56am
Quoting Beerrun
Here is an improved version with a lot of added features. It should be error free. Enjoy! edit: changes to About tab, label display. {file} {image}
Sweet looks great, gonna give it a go
  • #13
  • Jan 14, 2019 2:59am Jan 14, 2019 2:59am
Quoting 9jatrader
{quote} MT4 has everything for you to be profitable. You just need to spend some time on the indicators and know the good and bad side of each one
I've tested a lot of indicators and in general i dont like them, every now and then ill give another a shot but mostly trade naked now. Power candles can be very good though so im gonna monitor them.
  • #14
  • Jan 14, 2019 3:06am Jan 14, 2019 3:06am
Quoting JustyJust
{quote} I've tested a lot of indicators and in general i dont like them, every now and then ill give another a shot but mostly trade naked now. Power candles can be very good though so im gonna monitor them.
Many indicators are good. We just need to spend some time with them and find the ones we are comfortable with. After which we still continue to spend enough time with ones we choose and see the good and bad side of them
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #15
  • Jan 14, 2019 4:14am Jan 14, 2019 4:14am
I use this indicator for comparison Indicator (link from this forum). Acording to the developer > This indicator displays each currency power (0-7) on each candle.
Power of the first currency in the symbol name displays above the candle, while Power of the second currency displays below the candle.
A power of 7 means the currency is UP against all other 7 currencies.
Looking for profitable short term trades ...|
  • #16
  • Jan 14, 2019 5:10am Jan 14, 2019 5:10am
Quoting JustyJust
{quote} Sweet looks great, gonna give it a go
I hope it does what you’re looking for; if I have time later today I will post an updated version
  • #17
  • Jun 15, 2019 10:18am Jun 15, 2019 10:18am
Quoting Beerrun
Here is an improved version with a lot of added features. It should be error free. Enjoy! edit: changes to About tab, label display. {file} {image}
Hey beerrun, hope you're well and thanks for this. I was wondering if you could help with modifying this a bit. I want this indi to plot a dot/star on all candles that have body height/candle height ratio greater than 50%.
Doesn't seem very different to what this is. Hope you can help. Thanks in advance.
  • #18
  • Jun 15, 2019 10:23am Jun 15, 2019 10:23am
guys i am really sorry for this but i cannot post my own thread, can someone tell me where i can get an indicator that does this ( see the picture )
I mean, it should paint de candles in green when histo is green and blue line is above signal line and red when the histo is red and signal is above blue line, the rest should be black.

Tried all the indis i could find on the internet but cant get the hang of this.

Sorry if this is not the right place to post, but im new here.

Thanks guys!
Attached Image
  • #19
  • Jun 15, 2019 4:17pm Jun 15, 2019 4:17pm
Quoting mragatrading
guys i am really sorry for this but i cannot post my own thread, can someone tell me where i can get an indicator that does this ( see the picture ) I mean, it should paint de candles in green when histo is green and blue line is above signal line and red when the histo is red and signal is above blue line, the rest should be black. Tried all the indis i could find on the internet but cant get the hang of this. Sorry if this is not the right place to post, but im new here. Thanks guys! {image}
First of all, assume you mean for Metatrader 4 ?

https://www.mql5.com/

Good Luck
It takes a lot for me to IGNORE you, but you can try.
  • #20
  • Jun 15, 2019 11:51pm Jun 15, 2019 11:51pm
Quoting Erebus
{quote} First of all, assume you mean for Metatrader 4 ? https://www.mql5.com/ Good Luck
Yes Indeed! I need it for mt4.
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