Need MT4 indicator for Current Candle Length | Forex Factory

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Need MT4 indicator for Current Candle Length

  • #1
  • First Post: Oct 11, 2009 5:59pm Oct 11, 2009 5:59pm
Hi! Does anyone know of an MT4 indicator that will give the length of the current candle? I would like to see one that would allow an input parameter for the size of the candle in PIPS for sounding an alert. For example if the parameter was 10, then a blue up arrow would be displayed and an alarm would sound. I saw an indicator on CodeBase that gave the length of the previously closed candle, but I am looking for one that will give the length of the current candle - and of course would keep it updated, until it closed.
  • #2
  • Aug 17, 2010 3:00pm Aug 17, 2010 3:00pm
Quoting PipPredictor
Hi! Does anyone know of an MT4 indicator that will give the length of the current candle? I would like to see one that would allow an input parameter for the size of the candle in PIPS for sounding an alert. For example if the parameter was 10, then a blue up arrow would be displayed and an alarm would sound. I saw an indicator on CodeBase that gave the length of the previously closed candle, but I am looking for one that will give the length of the current candle - and of course would keep it updated, until it closed.
Does anyone know of such an alert based on ATR set to ATR 1 and allow you to enter into properties amount of pips say anything over 10 pips on a 1 minute chart it will sound an alarm that there is some price action going on..
????? Wake me up from those silent times of static movement when I fall asleep.
Drew....
  • #3
  • Dec 31, 2010 4:42am Dec 31, 2010 4:42am
I am searching for an indicator to indicate in the prize window if a candle gets bigger then a certain amount that i set. So for instance if a candle gets 9 pips or bigger, i would want to colored red. If nobody knows about such an indie, i would be very glad if anybody wanted to code it, it doesnt seem like a difficult thing to do.

Now the reason i need it is so i know when not to take a signal in my system. I would be happy to reason and collaborate and explain what im doing every day staring at e/u M1, trading about 10-15 positions a day and how i do it if anybody is up for that. I have written extensively on various threads about what im doing but never systemamatized it thoroughly.
My signature is: "Classified".
  • #4
  • Dec 31, 2010 2:13pm Dec 31, 2010 2:13pm
Quoting yaed
I am searching for an indicator to indicate in the prize window if a candle gets bigger then a certain amount that i set. So for instance if a candle gets 9 pips or bigger, i would want to colored red. If nobody knows about such an indie, i would be very glad if anybody wanted to code it, it doesnt seem like a difficult thing to do.

Now the reason i need it is so i know when not to take a signal in my system. I would be happy to reason and collaborate and explain what im doing every day staring at e/u M1, trading about 10-15 positions a day and...
Yaed, This is an easy indicator.. I would be happy to help you.. please PM me if your still interested..

OP.. you wrote this a while ago.. easy indicator as well.. PM if you still want but your probably moved on


  • #5
  • Dec 31, 2010 11:21pm Dec 31, 2010 11:21pm
NewYear498, I can not yet PM other members, or I would have PM'd you.

I am still very interested in the development of an indicator that would display the current candles length and sound an alarm when the candle had reached x pips in length, and possible display an arrow in the direction of the movement. For example if candle has moved up 10 pips, display a blue (color selectable as parameter) arrow pointing up, along with an audible alert, EURUSD H1 chart shows 10 pip upward movement.

What I am trying to accomplish is to find a way to take advantage of the information contained in the report, "Predicting Price Action". This report lists statistics on the probability of a candle moving a certain number of pips, once it has moved at least 10 pips. For example, on the 1 hour EURUSD chart, if the price has moved 10 pips, there is a 87.5% chance that it will move at least 20 pips.

I would like access to the indicator so I can test this strategy.

Please let me know if you can help.

Thanks
  • #6
  • Edited 11:00am Jan 1, 2011 4:39am | Edited 11:00am
That report was written more than 6 years ago... I highly doubt it is still relevant. but anyway...

Here's the indicator. It will display the size of the candle in pips calculating from high to low.

It will also draw an arrow at the first movement of a predefined amount of pips from the start of each new candle.

Note that the arrows are drawn for the first move of each candle. e.g. if the price has moved 10 pips upwards, it will draw an arrow pointing up signalling a buy. even if the price has moved 100 pips downwards while still in the same candle, the up arrow will remain there to show you the signal has failed. same thing for down arrows.

the OmitFirstCandle is set to true by default cos naturally you don't want it to draw arrows for the current candle at the point of attaching the indicator. who knows how the price has moved since the candle opening time till the indicator attached time. arrows should only be drawn at the new candle as the indicator is there to see it's birth.

This is a forward indicator. It will not show any arrows for candles in the past. only for present and future after the point of indicator attaching. If you close the chart, all arrows drawn will be gone.

I have however coded in a logging mechanism. You can review past generated signals by opening the log files located in "MT4 installation\experts\files" folder. 1 log file for each day and each symbol, they are named "PPA_Indi_[SYMBOL]-[DD]-[MM]-[YYYY].log"

regards,
Zen
Attached File(s)
File Type: mq4 PPA_indi_v1.mq4   5 KB | 5,003 downloads
Programming for a better future.
  • #7
  • Jan 1, 2011 9:53am Jan 1, 2011 9:53am
Quoting PipPredictor
NewYear498, I can not yet PM other members, or I would have PM'd you.

I am still very interested in the development of an indicator that would display the current candles length and sound an alarm when the candle had reached x pips in length, and possible display an arrow in the direction of the movement. For example if candle has moved up 10 pips, display a blue (color selectable as parameter) arrow pointing up, along with an audible alert, EURUSD H1 chart shows 10 pip upward movement.

What I am trying to accomplish is to find a way to...
Does Zen Low indicator work for what you wanted.. if not leave me a comment.. also..

if you still need an indicator please specify this..

this is something you want to detect for the current candle correct.. so I could ignore the candles in the history.. just if current candle makes it to 10 pips alert instantly.. sounds easy.. actually I could probably do an EA in about 10 minutes to place a trade if it goes 10 pips open order for 10 pip profit.. I was thinking about exploiting that report as well a long time ago

best wishes..
  • #8
  • Jan 1, 2011 10:04am Jan 1, 2011 10:04am
There's no way to test it now since market is close.

Whether it works or not is irrelevant. you can simply code yours and place it here for all who are interested.

regards,
Zen
Programming for a better future.
  • #9
  • Edited 11:17am Jan 1, 2011 10:30am | Edited 11:17am
Here the same one I made for Yead

it just has an alert attached..

two user setting variable which by default are...

distance = 0.0010 (which is 10 pips for example as EUR/USD)

and

onOff = "on" (set to "off" if don't want alert)


anytime the active candle makes over variable distance.. it will alert you


ok, enjoy!
Attached File(s)
File Type: mq4 Candle Size.mq4   2 KB | 6,119 downloads
  • #10
  • Jan 1, 2011 10:31am Jan 1, 2011 10:31am
Quoting Zen_Leow
There's no way to test it now since market is close.

Whether it works or not is irrelevant. you can simply code yours and place it here for all who are interested.

regards,
Zen
You can actually test if you start an EA and attach the indicator while the EA runs (visual mode ofcourse)

  • #11
  • Jan 1, 2011 10:39am Jan 1, 2011 10:39am
It's late here in my timezone and I need my rest. would you like to take over? just do up your EA and test it. I'm sure it'll be beneficial somewhat.

regards,
Zen
Programming for a better future.
  • #12
  • Jan 1, 2011 10:43am Jan 1, 2011 10:43am
Quoting Zen_Leow
It's late here in my timezone and I need my rest. would you like to take over? just do up your EA and test it. I'm sure it'll be beneficial somewhat.

regards,
Zen
Ok Zen.. I will do an EA on the price report.. it will be very crude and straight forward

expect it within the next 12-24 hours when I feel like coding it


what part of the world you from my friend!?!
  • #13
  • Jan 1, 2011 10:58am Jan 1, 2011 10:58am
Where is the ebook for this "Predicting Price Action"

I did a quick search could not find and about to leave house for a bit.. I read it in past but would like to find again

thanks
  • #14
  • Jan 1, 2011 10:58am Jan 1, 2011 10:58am
I'm from Singapore. and its about 3am here now... I must say I'm getting too old for late nights.

The indicator is no rocket science either.. I only did it this evening cos I needed a distraction. Currently working on other systems (renko based) so I can't spend time here as much as I like to. You seem to have more interests in this strategy than I do so I best leave you to it. Have fun!

regards,
Zen
Programming for a better future.
  • #15
  • Jan 1, 2011 11:25am Jan 1, 2011 11:25am
Same as indicator before.. except instead of arrows it puts a bar in a seperate window.. easier to see I would suspect

Attached File(s)
File Type: mq4 Candle Size.mq4   2 KB | 3,758 downloads
  • #16
  • Jan 1, 2011 2:29pm Jan 1, 2011 2:29pm
I just slapped this thing together.. its working properly and good for some insights into the method..

but...

and a big but...

the information from the document "Predicting Price Action" or whatever its called.. I found it online again and you go through it and find yourself wondering if they mean price has a 85% chance of going an additional 10 pip in the current candle or just in the near future.. and wondering.. well sure it can go another 10 pips but how much room does it need to make it.. risk to reward 100 pips for 10 pips?

so with a grain of salt here is the EA.. attach it to a 60M chart.. have a look at it.. do whatever you want with it...

you can set your TP, SL, and Trigger, percent per trade you want to risk.. and the hours you want to start the program and close the program..

its a rough slap together EA so adjustments would be needed to really live trade with it.. I mean I used market orders which I would addapt to limit orders if I was going to live trade..

pretty much you find a way this thing succeeds with impressive results then PM me to fine tune it.. otherwise I will be making my own conclusions and tests to see if I can impress myself

best wishes!
Attached File(s)
File Type: mq4 Price Continuation.mq4   4 KB | 3,156 downloads
File Type: ex4 Price Continuation.ex4   4 KB | 2,016 downloads
  • #17
  • Jan 8, 2011 11:03pm Jan 8, 2011 11:03pm
Can anyone on this thread code the Candle Size indication to show the number of pips instead of a line or histogram. I have tried to modify it but I am not a programmer. I just want to see the amount of pips below every bar. The distance from the high to the low in total pips. If any one has that indicator or can modify this one I would appreciate the help. Thanks for your great indicators til now too.
  • #18
  • Apr 9, 2011 8:42am Apr 9, 2011 8:42am
Is it possible to make an indicator that changes candle colors with candle size? For example: any candle over 15 pips turns red, but can change back to original color if it falls back below 15 pips.
  • #19
  • Oct 12, 2011 9:34pm Oct 12, 2011 9:34pm
NewYear498...if you're listening, I've been reading some of your posts from a question a long time ago regarding an alert on MT4 that would sound if a candle produces X number of pips. I'm looking for an indication with audible or ideally test messaging where if an Hourly candlestick chart has a candle that has a close of at least 70% of the range of the high to low, then an alarm would sound. It looks like you are an MT4 guru, do you have anything of that sorts.

Thanks,
dg9771
  • #20
  • Oct 21, 2011 5:31pm Oct 21, 2011 5:31pm
Quoting dg9771
NewYear498...if you're listening, I've been reading some of your posts from a question a long time ago regarding an alert on MT4 that would sound if a candle produces X number of pips. I'm looking for an indication with audible or ideally test messaging where if an Hourly candlestick chart has a candle that has a close of at least 70% of the range of the high to low, then an alarm would sound. It looks like you are an MT4 guru, do you have anything of that sorts.

Thanks,
dg9771
No I don't have anything of that sort.. I don't really program anything that requires relying on opens and closes.. but this seems like a simple program to make.. just not in the mood to program stuff for anyone :/ sure someone will help you tho
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