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NEW!! - Candle Aggregation indicator

  • #41
  • Edited 11:27pm Oct 1, 2007 11:27pm | Edited 11:27pm
Thanks hanover and mason.
Just an example of 4H pins using only shifting 4H bars.
Without the CA indicator, you would only have seen one of them.
Attached Image
  • #42
  • Oct 5, 2007 1:12am Oct 5, 2007 1:12am
I was asked in a PM for the settings used to show the four distinct four hour candles.
So now I have four charts:
1) 4Hour candle closes at 00:00,04:00,08:00,12:00,16:00,20:00
2) 4Hour candle closes at 01:00,05:00,09:00,13:00,17:00,21:00
3) 4Hour candle closes at 02:00,06:00,10:00,14:00,18:00,22:00
4) 4Hour candle closes at 03:00,07:00,11:00,15:00,19:00,23:00

I was also asked how to remove the "actual/live" 1Hour candles. As stated by others, set chart as "Line Chart" and use "F8" to set the "Line Graph" color the same as the "Background" color.
Attached Image (click to enlarge)
Click to Enlarge Name: CA-4-4HourCandles.JPG Size: 89 KB
  • #43
  • Mar 5, 2009 5:15pm Mar 5, 2009 5:15pm
I like a lot.

Thank you very mason hanover and friends...

Much appreciated
  • #44
  • Apr 23, 2009 2:56pm Apr 23, 2009 2:56pm
Hanover,

Another brilliant indicator. I have always struggled with 4H candles logically as most brokers use a different GMT offset. This get's around this.

I have a suggestion, but it may be quite a lot of work....

Would it be worth combining this idea with your recent candle indicator? I'm not even sure if this is possible. But if it can be done, for example you could look at your own 4hr chart whilst seeing the structure of the candles on the other 3 possible formations... See what I mean?

I look forward to your reply but thanks for another superb contribution!

Dave
  • #45
  • Apr 24, 2009 2:39am Apr 24, 2009 2:39am
Quoting dgrs
Hanover,

Another brilliant indicator....
Dave, IMO the best version is V5, developed by Mason, and can be downloaded from post #23 above.

When you say "the other 3 formations", do you mean being able to view H4 candles starting at 01:00, 02:00, 03:00, for example, on the same chart?

Incidentally, you might also like to look at Custom Candle, and Periodcon(verter). The latter can be made to update itself, tick by tick, in real time.

David
  • #46
  • Apr 24, 2009 4:16pm Apr 24, 2009 4:16pm
Thanks once again for your very quick response.

Quoting hanover

When you say "the other 3 formations", do you mean being able to view H4 candles starting at 01:00, 02:00, 03:00, for example, on the same chart?
That's exactly what I mean. Rather than have 4 charts open at once, could have one chart with a Recent Candles type indicator, but rather than showing for eg 1H, 4H, D1 etc, it would show all the possible permutations of a 4H...

See what I mean?

In any case, how are you all getting on trading reversal bars? It's become a critical part of my trading, looking for reverse candles near trend line support/resistance.

All the best,

Dave
  • #47
  • Apr 27, 2009 2:45pm Apr 27, 2009 2:45pm
Dave,

This is a very good idea, but quite a complex programming job. I might get around to it some time, but no promises.

I've moved on a little from merely trading reversal bars. Too many (at least for my liking) turn out to be nothing more than an interruption in a bigger move, especially on lower time frames. So one either has to wait for a deep retracement into the pinbar to look for a high RR trade (to compensate for the lower win rate), or delay entry until the next candle adds weight to the probability of a 'real' reversal. You can also combine pinbars with another tool/concept like divergences or S/R to help identify the higher probability candidates.

These days, I look more for outside bars or engulfing bodies (The Candle Identifier highlights these by plotting white or yellow arrows) that signal momentum in an emerging move, or resumption of a trend....... but this is the Programming area of the forum, and I'm starting to talk trading strategies, so I'll end here.

David
  • #48
  • Apr 28, 2009 2:50pm Apr 28, 2009 2:50pm
Quoting hanover
Dave,

This is a very good idea, but quite a complex programming job. I might get around to it some time, but no promises.

I've moved on a little from merely trading reversal bars. Too many (at least for my liking) turn out to be nothing more than an interruption in a bigger move, especially on lower time frames. So one either has to wait for a deep retracement into the pinbar to look for a high RR trade (to compensate for the lower win rate), or delay entry until the next candle adds weight to the probability of a 'real' reversal. You can also...

Thanks for your reply David. Don't worry about talking trading evenn though it's the programming area. Out of interest I'm trying to master trading reversal bars in conjuction with simply trend lines off different time frames. What's letting me down at the moment is discipline - so often if the first reversal bar fails, another one will form, the trend line still no having broken, and I won't enter - even though it's still in the buy/sell zone....

For this reason I'm wondering how difficult easy it would be to design an EA for entries wth a clear zone of entry... I mean could you have a couple of trend lines and say if price inbetween two trend lines it is a valid entry zone aand should a reversal bar occur enter...

I have some clear ideas about SL and TP (I think!) but just wondered if you could let me know theorettically how straight forward this would be...

Dave
  • #49
  • Edited 7:08pm Apr 28, 2009 5:42pm | Edited 7:08pm
Quoting dgrs
Thanks for your reply David....
Assuming you want the EA to automatically define the trendlines in real time, then you would first need to resolve the method/rules behind your trendlines into a precise mathematical formula that covers all possible scenarios you want the EA to address...... probably not a trivial task.

I've just completed and posted NCI, and my next recreational project is to complete the work I began several months ago on an 'intelligent' S/R indicator. However, it (at least v 1.0) will address only 'horizontal' S/R areas, i.e. previous candle high/low confluence zones, as opposed to 'diagonal' ones (trendlines). And it's an indicator, not an EA.

I tend to develop and post indicators for free, but I write EAs commercially for local clients (I live in New Zealand) as a sideline business. EAs necessitate legal disclaimers because the smallest bug, or operational misunderstanding, could potentially destroy a live account. Anyway, forum rule #3 prohibits me from soliciting for programming work here at Forex Factory.

[EDIT] - Have you seen this? I'm just about to try it out for myself.
  • #50
  • Apr 29, 2009 9:21am Apr 29, 2009 9:21am
Quoting hanover
Assuming you want the EA to automatically define the trendlines in real time, then you would first need to resolve the method/rules behind your trendlines into a precise mathematical formula that covers all possible scenarios you want the EA to address...... probably not a trivial task.

I've just completed and posted NCI, and my next recreational project is to complete the work I began several months ago on an 'intelligent' S/R indicator. However, it (at least v 1.0)...
Thanks for the links I'll definitely check them out. I have found everything you've posted extremely useful and your generosity is very much appreciated. I particularly look forward to the release of your intelligent horizontal S/R indicator.

Anyway, just to be clear, my ponderings above about an EA were NOT for the EA to automatically draw the trendlines, but react to trend lines manually drawn - which would presumably then be required to be named etc...

All the best,

Dave
  • #51
  • Jun 3, 2009 6:22pm Jun 3, 2009 6:22pm
Quoting dgrs
Thanks for the links I'll definitely check them out. I have found everything you've posted extremely useful and your generosity is very much appreciated. I particularly look forward to the release of your intelligent horizontal S/R indicator.

Anyway, just to be clear, my ponderings above about an EA were NOT for the EA to automatically draw the trendlines, but react to trend lines manually drawn - which would presumably then be required to be named etc...

All the best,

Dave

Look into this thread for EA that trade trendline


http://www.forexfactory.com/showthre...t=98061&page=7
  • #52
  • Aug 29, 2009 9:40pm Aug 29, 2009 9:40pm
H, did you got beck to those features:

extern int TimeShift = 0; // which component candle to begin the aggregation process
extern bool AggrBackward = false; // forward: disp agg over left candle in group; backward: disp agg over right candle
extern bool InterCandles = false; // true: show all intervening candles
extern bool SwitchOff = false; // true: allows you to toggle indicator off without having to delete it from the chart

(CA v5 doesn't have it)
  • #53
  • Edited 7:55am Sep 23, 2009 6:48am | Edited 7:55am
Combine candles, do not combine timeframes

The indicator draws two candles - static (from 1 to N +1) and dynamic (0 to N)

Variable N - number of bars
  • #54
  • Sep 24, 2009 12:17am Sep 24, 2009 12:17am
Current TimeFrame

Static Candle (3 Bars)

Open Open[3]
High Max(High[1],High[2],High[3])
Low Min(Low[1],Low[2],Low[3])
Close Close[1]
Volume Volume[1]+Volume[2]+Volume[3]

Dynamic Candle (3 Bars)

Open Open[2]
High Max(High[0],High[1],High[2])
Low Min(Low[0],Low[1],Low[2])
Close Close[0]
Volume Volume[0]+Volume[1]+Volume[2]
  • #55
  • Sep 24, 2009 1:53am Sep 24, 2009 1:53am
Other schemes:

One Dynamic candle and two candles Static
(For 3 bars)

- Dynamic candle (Bars from 0 to 2), Static candle (Bars 1 to 3), Static candle (from 2 to 4)

- Dynamic candle (Bars from 0 to 2), Static candle (Bars from 3 to 5), Static candle (Bars from 6 to 8)
  • #56
  • Edited Sep 26, 2009 1:53am Sep 25, 2009 10:35am | Edited Sep 26, 2009 1:53am
Example Trade - Dynamic candle (Bars from 0 to 2), Static candle (Bars from 3 to 5), Static candle (Bars from 6 to 8).

The best trade level - Fibo 38,2.

 This is idea by Nicolai Popov , link - http://www.forex-vc.ru/teorija.html

It's important for trade by Nikolai Popov: VolumeDynamicCandle > 1.5 * (VolumeStaticCandle_1 + VolumeStaticCandle_2) / 2

9021 < 1.5 * (7595 + 8387)/2 (don't trade)

1.2 , 1.5, 1.7 - volatility index (1.7 for gbpjpy ...)


Buy Signal:

If open > close then TopCandle=(high - close)/( high - low)*100% ;
If open < close then TopCandle=( high - open)/( high - low)*100% ;
TopCandle < 25 %;

http://www.forex-vc.ru/images/22.GIF


Sell Signal:

If open > close then BottomCandle=( open - low)/( high - low)*100%;
If open < close then BottomCandle=( close - low)/( high - low)*100%;
BottomCandle < 25 %

http://www.forex-vc.ru/images/21.GIF

http://cdn.forexfactory.com/images/buttons/quote.gif


Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Picture2.jpg Size: 80 KB
  • #57
  • Sep 27, 2009 2:09am Sep 27, 2009 2:09am
Quoting allex2006
Idea For CandleAggregator Combine candles, do not combine timeframes
The indicator draws two candles - static (from 1 to N +1) and dynamic (0 to N) Variable N - number of bars
may be this could help - builds candle from H1 bars (any # of bars (timeframes): 3, 5, 10...)
Attached Image
Attached File(s)
File Type: mq4 candles_i-BigBarsFromH1.mq4   5 KB | 1,582 downloads
  • #58
  • Sep 27, 2009 10:07am Sep 27, 2009 10:07am
Quote
may be this could help - builds candle from H1 bars (any # of bars (timeframes): 3, 5, 10...)
Thank you fxxx ... I like RECTANGLE and FIBONACCI RETRACEMENT
  • #59
  • Sep 27, 2009 1:10pm Sep 27, 2009 1:10pm
i read all pages .. still not download any indicator.. and think i dont need it right now ..

But through what read I MUST SAY that:

hanover U Have realy Big Heart .. u like to help other..

1000Thanxs for you .
Never sell @ lower upward channel unless breacked and vise versa .
  • #60
  • Sep 30, 2009 10:37pm Sep 30, 2009 10:37pm
Quoting fxxx
may be this could help - builds candle from H1 bars (any # of bars (timeframes): 3, 5, 10...)
hello..thank you for this very nice indicator,,but the problem is it cannot be used in the 5 minute time frame,,only in 1 hour,,,can some one modify this indicator so that it can be used in 5 minute time frame pls?.....help is very much appreciated....
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