Help Request - Consecutive Candle Script Modification

Hey there,

I'm seeking assistance in rewriting this script. It should be quick but after reading a lot of the help files in the MQL codebase, I still can't make heads or tails of all this.

So I'm humbly seeking help instead.

If anyone could be so kind to do this, I am looking for this

Below I have attached a script that looks at points where one candle changes color and counts how many candles it goes before it reverses and then it gives you a statistic.
There's an imagine below.

Here 1 - 33% means that 33% of the time, a candle will reverse after just one bar. If you're currently on a bullish bar, there's a 33% chance the next one will be bearish.

But what I'm looking for is something just a little different.
After one candle reverses, I would like to know the statistic that the next TWO candles will continue.

So if 66% of the time a candle WON'T reverse (there's a bullish bar and there's a 66% chance that the next will also be bullish), I would like to know what the percentage is that if there's a bullish (or bearish) bar, what're the chances the TWO candles will be bullish (or bearish).

Here on the M1 chart, it shows that there's a 66% chance it'll go one bar in the same direction. I'm just looking for two bars.

It should run just like the provided script: make a list at the top left of all the statistics.

I feel like it should be just a quick modification of the provided script.
I really hope it is and I appreciate anyone who can help!
Thank you for your time

EDIT: I forgot to give Squalou credit for creating the original. I completely forgot it was his. Credit all goes to him.

Two things:

No one's replied

Not to fret

I mean I'm asking for a favor. A handout. And there really never is any free lunch.

Maybe I'll just twist it.

I realized that since all the probabilities add to one, then the divisor of all of them is the total number of candle reversals that are counted.

So just because a percentage is low doesn't mean that it's tradeable. It could just mean that it doesn't occur very often the in grand scheme of things.

I was wondering if anyone could make it so that it shows percentages like this:
(The amount of times x candles went after a color reverse and continued 1 more candle)/(The amount of times x candles went after a color reverse)

And it would have 'em like in the original code. Broken into 1, 2, 3, 4 etc and Up and Down columns.

I was hoping like... this would be something really fascinating and would be useful to people. Enough that people would be willing to recode it.

Or at least... to see some interesting results.
I know how excited I was the first time I saw these results.

Maybe we can learn a thing or two.

If not, that's fine.
You can't really expect much when you ask someone to do things for free

People don't find it worth their time, I'll just man up and learn to recode it properly. I've tried already but I guess it's all trial and error from here.

Well cheers to everyone anyways!
Thanks to anyone who can help

I just stumbled upon your thread as I was searching for a similar statistical tool. I know its a bit late since you asked (2 years almost ) but I believe you already have the answer you are looking for, right on your chart.

So, the chance that the next ONE candle, after the 2 diverse ones that signified the reversal, is 64% as you said. So getting at least a red-green-green candle formation has a 64% chance, you subtract the first number on your list from 100% since that first number corresponds to the probability you don't want to consider (having a red-greed-red formation).

Your question is what is the probability of at least a red-green-green-green formation, if I understood correctly. To calculate this, you need do the same calculation, except you will ignore the first 2 lines, as they both represent probabilities you want to exclude (having only one or only two green bars between two red ones).

So getting at least an r-g-g-g formation has 100%-36%-22%= 42% chance. While getting exactly an r-g-g-g formation, obviously, corresponds to the number next to line [3], 14.3%. On a similar way you can calculate this for all numbers.
I don't know the MT4 syntax but I am sure its quite easy to express the above, algorithmically.


Hope it helps amigo,
K.