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Price Action Detectors

  • #1
  • First Post: May 5, 2009 10:11pm May 5, 2009 10:11pm
I have been using this for a long time to read ( I called it) current Price Action on each Time Frame combine with my Trading System. I'm not using candle pattern etc to read current Price Action, i don't know maybe i'm too stupid to remember so many pattern.

But to see what is going on at the present, i think i just need to know the strength of buyers and sellers and compare the current price with the previous price. So, with Multiple Time Frame i could see what is going on with the current price on several periode and use those information to analyze the price movements. So i wrote this indicator for MT4 to help me read this.

Indicator:

You will see three Arrow column on your chart:

BS = Buyer/Seller strength on current candle. Up arrow means Buyers is win and Down arrow means Sellers is win.

OC = Open price and Close Price positions on current candle. Up arrow means current Close price is bigger than current Open price and Down arrow means current Close price smaller than current Open price.

CC = Previous candle Close and current candle Close price positions. Up arrow means current Close price bigger than previous Close price and Down arrow means current Close price smaller than previous Close price.

You can combine this with your current trading system and style.


Hope it's help.

KG
Attached File(s)
File Type: ex4 KG PRICE ACTION DETECTOR.ex4   23 KB | 6,775 downloads
  • #2
  • May 5, 2009 10:18pm May 5, 2009 10:18pm
thanks KG, i'll try it and combine with your another system trading
  • #3
  • May 5, 2009 10:55pm May 5, 2009 10:55pm
btw could you make it more narrow ?

http://img23.imageshack.us/img23/2193/testingopf.th.jpg
  • #4
  • May 6, 2009 1:26am May 6, 2009 1:26am
Thanks KG. Very useful Indicator.
Hopefully you can show some picture (entry example)
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  • #5
  • Edited 2:18am May 6, 2009 1:47am | Edited 2:18am
Quoting onetarmizi
Thanks KG. Very useful Indicator.
Hopefully you can show some picture (entry example)
Hi bro... nice to see you here too..
This indicator could help us watch the current candle Price Action on each TF. This is not an entry or exit indicator but this indicator helps us to see what is happen on current candle. BS tell us who is the winner between Buyers or Sellers on current candle in each TF. OC tell us the current price positions compare to current Open price and CC tell us the current price Close position with previous candle close.

But if you combine this with S/R and watch information that given by this indicator when the price play around S/R i think you will understand what i mean... yeah very useful.....

Here is what i'm doing... I still hold my BUY position and watching how price react around Pivot Open (SlateBlute) and my Pivot (LimeGreen) .. in this conditions the indicator help me to decide to hold or close my position.. BTW it's just an example how i use it... but better you explore it..


Regards,

KG
Attached Image (click to enlarge)
Click to Enlarge Name: pa.jpg Size: 129 KB
  • #6
  • May 6, 2009 6:50am May 6, 2009 6:50am
Quoting Kang_Gun
Hi bro... nice to see you here too..
This indicator could help us watch the current candle Price Action on each TF. This is not an entry or exit indicator but this indicator helps us to see what is happen on current candle. BS tell us who is the winner between Buyers or Sellers on current candle in each TF. OC tell us the current price positions compare to current Open price and CC tell us the current price Close position with previous candle close.

But if you combine this with S/R and watch information that given by this indicator when the price...
I got your points. Thanks again KG
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  • #7
  • May 6, 2009 8:46pm May 6, 2009 8:46pm
Quoting Kang_Gun
Hi bro... nice to see you here too..
This indicator could help us watch the current candle Price Action on each TF. This is not an entry or exit indicator but this indicator helps us to see what is happen on current candle. BS tell us who is the winner between Buyers or Sellers on current candle in each TF. OC tell us the current price positions compare to current Open price and CC tell us the current price Close position with previous candle close.

But if you combine this with S/R and watch information that given by this indicator when the price...
Thanks KG.
Dont know if you still remember me
  • #8
  • May 6, 2009 10:37pm May 6, 2009 10:37pm
Quoting onetarmizi
I got your points. Thanks again KG
Your welcome bro

KG
  • #9
  • May 6, 2009 10:39pm May 6, 2009 10:39pm
Quoting B@by trader
Thanks KG.
Dont know if you still remember me
Your welcome, hope it's help your trade.
And I remember you my friend...

KG
  • #10
  • May 6, 2009 11:09pm May 6, 2009 11:09pm
Salam Brother .. you are really helpful man ..

i know you form old Thread RelativeStrenth

thanx for all good things you give us.
Never sell @ lower upward channel unless breacked and vise versa .
  • #11
  • May 7, 2009 7:56pm May 7, 2009 7:56pm
Quoting WedWed
Salam Brother .. you are really helpful man ..

i know you form old Thread RelativeStrenth

thanx for all good things you give us.
Salam brother...
Naaaaa.. it's just a small thing...
Anyway, your welcome bro..

KG
  • #12
  • May 7, 2009 10:53pm May 7, 2009 10:53pm
Thank's, KG. That's what I'm looking for ...
  • #13
  • May 8, 2009 6:39am May 8, 2009 6:39am
Hi KG, could you elaborate more about BS calculation? How do you compare BS based on candle stick? Are you compare the BS strength with middle current CS or body CS?
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  • #14
  • May 8, 2009 7:09am May 8, 2009 7:09am
Quoting onetarmizi
Hi KG, could you elaborate more about BS calculation? How do you compare BS based on candle stick? Are you compare the BS strength with middle current CS or body CS?
Oh sorry, I forgot to explain BS calculation..
BS calculation is really simple, we can measure the strength of Buyers and Sellers on a candlestick with this equations:

Buyers Strength ~ (Close - Low)
Sellers Strength ~ (High - Close)

So, if (Close-Low) > (High-Close) = Buyers is win
and if (Close-Low) < (High-Close) = Sellers is win

Hope it's help

KG
  • #15
  • May 8, 2009 7:42am May 8, 2009 7:42am
Quoting Kang_Gun
Oh sorry, I forgot to explain BS calculation..
BS calculation is really simple, we can measure the strength of Buyers and Sellers on a candlestick with this equations:

Buyers Strength ~ (Close - Low)
Sellers Strength ~ (High - Close)

So, if (Close-Low) > (High-Close) = Buyers is win
and if (Close-Low) < (High-Close) = Sellers is win

Hope it's help

KG
Understood and thanks for your explanation.
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  • #16
  • May 8, 2009 8:11am May 8, 2009 8:11am
Quoting onetarmizi
Understood and thanks for your explanation.
Your welcome, I think... Now, you don't have to remember candle patterns if you know how to read the information on a candle... hehehehehe .

Salam

KG
  • #17
  • May 8, 2009 9:04am May 8, 2009 9:04am
Quoting Kang_Gun
Your welcome, I think... Now, you don't have to remember candle patterns if you know how to read the information on a candle... hehehehehe .

Salam

KG
this might sound personal but please read a PM from me.
  • #18
  • May 15, 2009 6:45pm May 15, 2009 6:45pm
Quoting Kang_Gun
Oh sorry, I forgot to explain BS calculation..
BS calculation is really simple, we can measure the strength of Buyers and Sellers on a candlestick with this equations:

Buyers Strength ~ (Close - Low)
Sellers Strength ~ (High - Close)

So, if (Close-Low) > (High-Close) = Buyers is win
and if (Close-Low) < (High-Close) = Sellers is win

Hope it's help

KG

Dear KG,

I have an idea. Can we put the overall analysis base on this indicator as per shown image below.

The percentage buyers and sellers based on how much arrow up and down compare with overall arrows. As example if down arrows are 17 and up arrows are 10 then sellers 63% while buyers 37%. Hopefully you can consider it
Attached Image (click to enlarge)
Click to Enlarge Name: padkg.GIF Size: 32 KB
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  • #19
  • May 19, 2009 11:41am May 19, 2009 11:41am
Do you buy when it's red and sell when it's green for the reversal trade?

Do you buy when it turns all green and sell when it turns all red for the break out trade?

Attached Image (click to enlarge)
Click to Enlarge Name: !chart.gif Size: 10 KB
  • #20
  • May 19, 2009 6:19pm May 19, 2009 6:19pm
Ass.. Thx 4 sharing.. Dlm bahasa karuhun aza akh

Ada versi yg angkanya gak kang, shingga kita jga bisa punya gambaran kuantitatif n mengukur jumlah pips / kekuatan baik O-C recent candle, C-C dari candle sebelumnya, maupun persentase B-Snya..
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