Indicator that has % of Bulls/Bears Candles in a Period | Forex Factory

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Indicator that has % of Bulls/Bears Candles in a Period

  • #1
  • First Post: Jun 10, 2022 12:52am Jun 10, 2022 12:52am
Dear Members. Are there any indicators that measures the percentage difference of Bulls/Bears candles or vice versa in a certain period of a number of candles?

Why I’m looking for this is to enhance my EA’s trades so that it doesn’t enter any trades when there is a ranging market where bears and bulls candles are of similar ranges.

i.e: if the last 10 candles has 5 bull candles with total of 30 pips and 5 bears candles of 25 pips then it can assume that the market in a range and no clear trend direction.

I’m just asking whether there are any and if there is none then it’s fine, I can get assistance for it to be coded. Just don’t want it to get it coded when there are existing Indicator with similar function.
  • #2
  • Jun 10, 2022 5:20pm Jun 10, 2022 5:20pm
Quoting aaron4461
Dear Members. Are there any indicators that measures the percentage difference of Bulls/Bears candles or vice versa in a certain period of a number of candles? Why I’m looking for this is to enhance my EA’s trades so that it doesn’t enter any trades when there is a ranging market where bears and bulls candles are of similar ranges. i.e: if the last 10 candles has 5 bull candles with total of 30 pips and 5 bears candles of 25 pips then it can assume that the market in a range and no clear trend direction. I’m just asking whether there are any and...
You might want to read this thread, if you can absorb all that he is saying, maybe it helps, good luck.

Generally with FX, if a noobs thinks he has a new idea, it has been invented already



https://www.forexfactory.com/thread/...rex-navigation
It takes a lot for me to IGNORE you, but you can try.
  • #3
  • Jun 10, 2022 5:42pm Jun 10, 2022 5:42pm
Thanks Erebus. Will go through this post. Looks interesting. Great sharing.
  • #4
  • Jun 11, 2022 2:33am Jun 11, 2022 2:33am
You can also simply look at the trailing x bar range, and depending on what TF you're looking at, have a minimum number of pips under which you consider that pair to be ranging.
  • #5
  • Jun 11, 2022 9:06am Jun 11, 2022 9:06am
Quoting Oliver.Twist
You can also simply look at the trailing x bar range, and depending on what TF you're looking at, have a minimum number of pips under which you consider that pair to be ranging.
Hi Oliver, I have trouble understanding what you are trying to say. Can you provide an example? Thanks in advance.
  • #6
  • Jun 11, 2022 11:07pm Jun 11, 2022 11:07pm
Quoting aaron4461
Dear Members. Are there any indicators that measures the percentage difference of Bulls/Bears candles or vice versa in a certain period of a number of candles? Why I’m looking for this is to enhance my EA’s trades so that it doesn’t enter any trades when there is a ranging market where bears and bulls candles are of similar ranges. i.e: if the last 10 candles has 5 bull candles with total of 30 pips and 5 bears candles of 25 pips then it can assume that the market in a range and no clear trend direction. I’m just asking whether there are any and...
In my opinion, there is no clear direction in forex, there is nothing systematic to formulate

Forex law:
Article 1 Indicators/EA follow the market
Article 2 Traders follow indicators / EA
Article 3 If article 1 and 2 are wrong, go back to article 1

Take advantage of the slightest information gap to get as much benefit as possible, don't predict trends, but use Forex Law

The indicator that I use is logically very promising,
Whatever the indicator / EA, it's just a personal assumption, whoever you are
The forex law always still applies

Follow the market

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  • #7
  • Jun 12, 2022 3:48am Jun 12, 2022 3:48am
Quoting aaron4461
{quote} Hi Oliver, I have trouble understanding what you are trying to say. Can you provide an example? Thanks in advance.
Here, take this example:
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What you're initially asking for, is to know the percentage of green/red bars over a period.
In my example, I've taken the lookback period of 8 bars, the length itself doesn't really matter.
You might think: The first period has 50% of each, so it's ranging.
The second and third period have a ratio of 62.5% of green, so it's going up.
Well, that's true of the 3rd period, but not the second.

If you simply look at the range (= high - low of that period), it tells the real story. Both 1st and 2nd period were ranging, and the breakout occurred during the 3rd period.
The % of green to red that you're looking for, isn't really that useful. What you really want to know (since your initial request is to determine a ranging market) is the range over a period of time.
If you're looking at the last 8 bars (this is an example, it can very well be 76), you can easily (through eye-balling, or more thoroughly using statistics) have a limit threshold where you say: For this range of x bars, if it's under Y pips I consider it a range and I don't want to trade it.
  • #8
  • Jun 13, 2022 12:23am Jun 13, 2022 12:23am
Quoting ano.gojek
{quote} In my opinion, there is no clear direction in forex, there is nothing systematic to formulate Forex law: Article 1 Indicators/EA follow the market Article 2 Traders follow indicators / EA Article 3 If article 1 and 2 are wrong, go back to article 1 Take advantage of the slightest information gap to get as much benefit as possible, don't predict trends, but use Forex Law The indicator that I use is logically very promising, Whatever the indicator / EA, it's just a personal assumption, whoever you are The forex law always still applies Follow...
Yes, agreed the rules to sensible trading applies. The indicator/EA looks interesting. How does it work?
  • #9
  • Jun 13, 2022 12:26am Jun 13, 2022 12:26am
Quoting Oliver.Twist
{quote} Here, take this example: {image} What you're initially asking for, is to know the percentage of green/red bars over a period. In my example, I've taken the lookback period of 8 bars, the length itself doesn't really matter. You might think: The first period has 50% of each, so it's ranging. The second and third period have a ratio of 62.5% of green, so it's going up. Well, that's true of the 3rd period, but not the second. If you simply look at the range (= high - low of that period), it tells the real story. Both 1st and 2nd period were...
Yes, thanks for clarifying. Awesome.
  • #10
  • Jun 13, 2022 7:20am Jun 13, 2022 7:20am
Quoting aaron4461
{quote} Yes, agreed the rules to sensible trading applies. The indicator/EA looks interesting. How does it work?
just a combination of several indicators to follow the market
arranged so that it is easily digested by the eyes and brain

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  • #11
  • Last Post: Jun 13, 2022 6:47pm Jun 13, 2022 6:47pm
RealScalping Version 5

Free & Unlimited just for aaron here

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