1 candle back indicator

I'm sure this type of indicator already exists, but I haven't had any luck in searching for it. Hopefully someone can help point the way.

The indicator I am looking for will leave a small line at the close of every candle, 1 candle back from where price currently is. As price moves down (or up), the line will move accordingly. It doesn't matter which way price goes, the indi will treat every close the same.

If price moves down, the line will appear at the bottom of the candles, and vice-versa for moving up.

Anyone know what this is called?

Hi FH,
Don't know of one, so I wrote a small code.
Hope it works for you.

Nice indicator thanks.

Thanks Miyagi, that looks great.

OK, so after playing around with it a little more I came up with these adjustments.

Miyagi, if it's not too much trouble I was hoping you could add a second bar level as shown in the pic, plus the price flags (shown here in green).

All 4 components (the 2 lines and the 2 flags) should each have their own individual color and thickness selections.

That's it. As far as I can tell that would complete this indi.

Thanks very much for helping out!

FxH

(Also, you might want to rename it "2 Candle Back", lol)

That's no trouble at all, FxH.
Here is the modified code.

(Of course I renamed it, lol)

Great work, Miyagi! It's perfect. Thank you very much! Arigato!

Miyagi, I am very thankful for this indicator. The more I work with it, the better I like it.

Again, I hope it's not too much trouble, but I have a few more changes which I think will make it even better:

1. Rename the 2 lines "Lead Marker" and "Trailing Marker"

2. Change the lines and the price flags to look like the attached pic. This means the Lead line will always be a little longer than the Trailing line. If done correctly, everything should line up the left as shown here. (Note: the gold line in the pic is for a visual example only. I am not asking you to make this line part of the indi.)

3. For both lines, add an independent feature that allows us to select candle Open, High, Low, or Close for placing the line, not just Close as it is now. For example, now the Lead Line could be placed at Close, and the Trailing Line could be placed at Low, giving a slighly bigger range between the 2 lines.

4. For the Trailing Line, add a "Trail By" input selection. This way the indi can trail by more than 1 back bar. For example, if set to "3", then it will trail by 3 bars, not just 1 as it does now. Note: If set to "0" then both lines will paint against the same candle.

5. Lastly, add a spread counter as shown in the pic. It will be placed exactly between the 2 price flags, and it shows how many pips are between the 2 lines. This feature should have Font, Font Size, and Custom Color selections.

I know this is a lot to ask. Maybe you only have time to do some of it. I thank you in advance for what ever you can do. What can I say, but your work has inspired me.

Thank You!

FxH

Thank you for the kind words, FxH.
Am I glad you liked it.

The first four ideas above are very easy to implement, but the last one is actually not. It's MQL limitation that there is no way to select the position of the text object like that.

But I tried anyway. This code attempts to keep the spread counter in the correct position following a change in your chart environment. (Or you can turn it off this time.)

Also I have added all the input parameters above as well as others hoping you have good control.

Please experiment on demo to find out possible problems.

Note: I used Win32API solely to obtain the coordinates of a window's client area so this version requires "Allow DLL imports" to be set. You see it under the Common tab when you added the code to a chart.

(Now I renamed it N candle back. lol)

Wow, Miyagi, this just keeps getting better and better! I'm so grateful that you look at my requests as a challenge rather than a nuisance. It's a beautiful piece of work, and I hope that you are discovering ways to use it yourself. It always amazes me how the simplest ideas can give the best trading results.

There's no bugs to speak of, but the line length is a little bothersome. They are a little bit too long as you can see in the pic. This is visually confusing. So the remedy would be to shorten the lines to not go past the body of the candle it is highlighting.

I am a very strong proponent of breakout trades. So as far as trading mods are concerned, I do see the potential for an alert based on the pip counter (i.e., if <30p give an alert).

Thanks again for taking the time!

FxH

Miyagi, I was wondering if shadow boxes like these could also be added at the same time you are shortening the lines? Just a little something extra to highlight the candles being used...

FxH, I am enjoying this work with interest in your ideas.

About highlighting candles above we might have to find some other way since rectangles cannot be drawn in that manner, the others are simple.

I hasten to attach the code with shorter line length, which takes me only a minute to modify.



PS. I found someone has given me my first V and it’s you!!
Thank you very much, FxH. You have made my day.

instead of highlighting candles ,why not paint the candles with different colour tht way it be highlighted

Now you got 2. I found your response and eagerness to help very refreshing. Keep up the good work. I will also try your tool.

You have earned your vouchers, Miyagi. They don't come easy, but someone with your talent and helpful attitude certainly deserves the recognition. I'm happy to be your first.

Spacetec brings up an interesting question. Is it possible to single out individual bars for outlining as shown in the pic? MT4 allows this for every bar all at once. I guess the question for you is, can you make it so that only special bars get this treatment? If so, then just color them the same as the marker line it is attached to -- e.g., red marker line=red outline, etc.

Also, did you see this notation in my earlier message?:

I am a very strong proponent of breakout trades. So as far as trading mods are concerned, I do see the potential for an alert based on the pip counter (i.e., if <30p give an alert).

It would be very helpful to have an alert function.

FxH

OK, it looks like we finally have a bug.

In this pic I have set the Trailing Marker color to "None", hoping to void it and use just the Lead line. But as you can see, it still shows up as a black artifact on screen instead of disappearing as expected.

Also, when just 1 line is in use there should be no pip value showing. But as you can see, it still reads as "3p" even though one of the lines is not in use.

FxH, I don’t think it’s possible to highlight a candle in that manner. I guess Spacetec meant the use of overlaying histograms as candles. Standard Heiken Ashi indicator works in this way and will need care to its thickness if you zoom. 2-bar-wide rectangle might be the easiest.

For the alert function, I am aware of it and will add the function with fixing the bug. I just want to make sure you meant LT (less than), or GT (greater than)?

Thank you very much, kostas1.
Very appreciated from a great trader like you!

[quote=Miyagi;5072933]Thank you very much, kostas1.
Very appreciated from a great trader like you![/quot

im sorry for asking and I know its not my thread but just want to know if there is the way to code this ( volume candles indi ) like you see on the chart convert that to line chart if I dont want candles and wanted to use line chart instead .

Forexhard this indi cud come handy if your trading breakouts for momemtum in the market when volumes are there

Miyagi, just ignore the whole highlighted candle business. It was more an idea, not an actual request. Maybe as a coder you enjoy it as a challenge, and it would be fun to have, but please don't feel obligated to waste time on it.

RE the alert...

Name it AlertDistance, and leave a space for an input value such as "35". So if the distance between the 2 lines (when both are in use) is 36 pips or more, nothing happens. But if between 1-35, then the alert will sound.