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Candle sentiment indy

  • #1
  • First Post: Jul 9, 2012 10:22am Jul 9, 2012 10:22am
Definitions:

Buy - candle closes above previous candle
Sell - candle closes below previous candle

Indy Logic:

Search candles on all timeframes to find the last candle that closed higher or lower than previous candle, that's the timeframes immediate sentiment.

Draw boxes to show these candles starting with monthly on the left and 1min on the right; green shows a candle closed above previous high, red shows candle closed below previous low.

Screenshot:

http://i.imgur.com/IzlTV.png
Attached File(s)
File Type: mq4 candles sentiment.mq4   6 KB | 697 downloads
Politics is the womb in which war develops.
  • #2
  • Jul 9, 2012 10:45am Jul 9, 2012 10:45am
Each box now shows 50% pivot of candle by way of different colours.

For a sell candle, if price is in orange section, then sell is weakening; if price in dark green, then buy is weakening.

Screenshot (EURUSD 30m):

Notice price is above the 4hr candle box (fourth from left) and also above the green 1hr candle (fifth from left). Price is now inside a 30m mother candle.

http://i.imgur.com/j59GA.png
Attached File(s)
File Type: mq4 candles sentiment_v2.mq4   7 KB | 567 downloads
Politics is the womb in which war develops.
  • #3
  • Jul 9, 2012 11:22am Jul 9, 2012 11:22am
Added ability to highlight your favourite timeframe in the indy properties; screenshot shows the eurusd daily candle box highlighted (thick black line).

Screenshot (EURUSD 1hr):

Looks like the buy might struggle as price is inside the lower half of the last daily sell candle, but price is still above the 4hr sell candle box, so it might spike up to the daily 50% level and the last monthly sell candle low around 1.2333.
http://i.imgur.com/ONvxG.png
Attached File(s)
File Type: mq4 candles sentiment_v3.mq4   7 KB | 727 downloads
Politics is the womb in which war develops.
  • #4
  • Jul 9, 2012 11:30am Jul 9, 2012 11:30am
Hi
Thanks for indi but may i ask you kindly, explain , how do you use it in explicit way ?
Have a nice evening
Kami
Don’t follow someone else’s trading advice blindly
  • #5
  • Jul 9, 2012 1:22pm Jul 9, 2012 1:22pm
Thanks for posting looks very interesting


Quoting FiatFap
Definitions:

Buy - candle closes above previous candle
Sell - candle closes below previous candle

Indy Logic:

Search candles on all timeframes to find the last candle that closed higher or lower than previous candle, that's the timeframes immediate sentiment.

Draw boxes to show these candles starting with monthly on the left and 1min on the right; green shows a candle closed above previous high, red shows candle closed below previous low.

Screenshot:

http://i.imgur.com/IzlTV.png...
  • #6
  • Jul 9, 2012 2:14pm Jul 9, 2012 2:14pm
Quoting kamifx
how do you use it in explicit way ?
In all honesty, I'm not too sure, i only coded it today.

Here's latest eurusd 1hr:

http://i.imgur.com/p7hfh.png

Price is sitting in the bottom half of a daily sell candle (thick black line box) but above a bullish 1hr candle; price is in an up-channel in a very bearish trend.

There's a confluence on higher timeframe boxes - monthly low and daily sell candle 50%, so I've moved my take profit between them.

Across the board, price has been stagnant today, so I'll be interested to see what patterns emerge when trend dynamics kick in.

I'm hoping others will post setups they spot, so we can identify patterns.
Politics is the womb in which war develops.
  • #7
  • Jul 9, 2012 2:19pm Jul 9, 2012 2:19pm
Where did you get the idea from? Surely you just didn't code it out of no where lol. When do you actually enter the trades?
  • #8
  • Jul 9, 2012 2:32pm Jul 9, 2012 2:32pm
Quoting Rexz
Where did you get the idea from? Surely you just didn't code it out of no where lol. When do you actually enter the trades?
Had an epiphany earlier today trying to spot trades from this setup:

http://i.imgur.com/1Sgtv.gif

I saw that AUDCAD is bid as the monthly has a bullish engulfing candle. Weekly also confirms this trend as it closed above a pivot but price is now inside this weekly bullish candle.

My eureka moment came when i thought "what if an indy told me candle close sentiments on all timeframes", then i can look back at this blank chart to confirm.

It's an embryonic prototype of an idea; I'm looking to add other signal indies to build on this foundation.
Politics is the womb in which war develops.
  • #9
  • Jul 9, 2012 3:03pm Jul 9, 2012 3:03pm
FiatFap, you may want to check out this thread:

http://www.forexfactory.com/showthread.php?t=296930
To improve is to change. To perfect, is to change often.
  • #10
  • Jul 10, 2012 5:38am Jul 10, 2012 5:38am
It did indeed turn at the price i pointed out:

Quote
There's a confluence on higher timeframe boxes - monthly low and daily sell candle 50%, so I've moved my take profit between them.

http://i.imgur.com/veHl4.png

Currently working on fib level indy to compliment boxes.
Politics is the womb in which war develops.
  • #11
  • Jul 10, 2012 5:48am Jul 10, 2012 5:48am
Yes i took the same trade,
fibs would be nice,
also a label might help like one letter on each line M,W,h, 15,5

Quoting FiatFap
It did indeed turn at the price i pointed out:



http://i.imgur.com/veHl4.png

Currently working on fib level indy to compliment boxes.
  • #12
  • Jul 10, 2012 6:37am Jul 10, 2012 6:37am
Here's fib indy.

You can show more fibs by adding them in the array (you'll have to do this manually in metaeditor).

Hover over a line and it shows timeframe, candle number and fib level.

http://i.imgur.com/BVhLN.png

You can see that price is fubar, it just bid up through 1hr candle sell fibs (bottom three red lines) but is now sitting under some 4hour buy fibs.
Attached File(s)
File Type: mq4 candles sentiment_fibs.mq4   6 KB | 1,260 downloads
Politics is the womb in which war develops.
  • #13
  • Jul 10, 2012 7:15am Jul 10, 2012 7:15am
Quoting FiatFap
In all honesty, I'm not too sure, i only coded it today.

Here's latest eurusd 1hr:

http://i.imgur.com/p7hfh.png

Price is sitting in the bottom half of a daily sell candle (thick black line box) but above a bullish 1hr candle; price is in an up-channel in a very bearish trend.

There's a confluence on higher timeframe boxes - monthly low and daily sell candle 50%, so I've moved my take profit between them.

Across the board, price has been stagnant today, so I'll be interested to see what patterns emerge when trend dynamics...

really like it

great

BROKENGLISH
  • #14
  • Jul 10, 2012 7:31am Jul 10, 2012 7:31am
Day 2, so not sure what to be looking for, but i think these kinds of patterns are ones to watch.

Spotted it on NZDJPY 4hr. Won't trade this as spread is a quintillion pips.

There's a spike down box on 4hr and shorter timeframes have since consolidated above; why would price do that??

http://i49.tinypic.com/2u72agj.jpg
Politics is the womb in which war develops.
  • #15
  • Jul 10, 2012 7:37am Jul 10, 2012 7:37am
I'm watching eurusd to see if it plays out a stop hunt.

Grey box is yesterdays intraday pattern trap (double top); Asian session then spiked high and today price is playing out the wave extension (yellow box projections).

Any green candle-boxes and i'll buy if price stays inside lower yellow box...

http://i47.tinypic.com/ae1nps.gif
Politics is the womb in which war develops.
  • #16
  • Jul 10, 2012 11:29am Jul 10, 2012 11:29am
Check out this mofo...

Definitions:

Swing high - candle high with set of candles either side with lower highs
Swing low - candle low with set of candles either side with higher lows

Indy Logic:

Search candles on all timeframes to find swing hilo's. Indy draws a channel based on recent hilo's. Purple = Monthly, Blue = Weekly, Orange = Daily, Brown = 4hr.

Screenshot:
http://i.imgur.com/wjNbS.gif

Notice how all fibs are red, so we know areas that need to be breached if there's any sign of a bullish reversal. However, looks like it's trapped in a mini-monthly channel (two purple tram lines encompassing recent price) and daily channel (orange) is almost pointing vertically down.
Politics is the womb in which war develops.
  • #17
  • Jul 11, 2012 7:20am Jul 11, 2012 7:20am
Final set up after much deliberation.

Method:
Flick through charts (press ctrl+F5) trying to spot divergent boxes and looking at price action on multiple timeframes.

Screenshot:

http://i.imgur.com/Ac95y.gif

Here's a buy on GBPUSD i just did based on a sell daily candle (thick black outlined box) but shorter term timeframes are green and above daily sell candle box. Target is 1.55900 (weekly green candle box 50% level).

Summary:
I've attached latest indy where i've put black markers on the higher timeframe boxes @ 23.6% and 76.4% fibs as the extreme candle swings.

There is no holy grail, only price action; quickly spotting candle sentiment can only help the cause.

Stratman indy can be found here.
Attached File(s)
File Type: mq4 Candle Sentiments.mq4   8 KB | 624 downloads
Politics is the womb in which war develops.
  • #18
  • Jul 11, 2012 7:29am Jul 11, 2012 7:29am
Wanted to add an addendum on price action.

I placed a buy on AUDCAD late last week but started to doubt my trade and closed for small loss; sure enough it did snap the way i expected...why???

Look at weekly and the candles in the white boxes. Left white box = bullish pinbar breached after only two candles, so we know a strong sell area is between 38 - 61% fib of this candle.

Now look at the bearish pinbar in the right white box. It was breached immediately, so bulls are very strong and short term sentiment is bid, but look for reverse @ 76.4% of left white box pinbar.

Try to find these candles and see if it holds and for how long, especially on higher timeframes.

http://i.imgur.com/MCl02.gif
Politics is the womb in which war develops.
  • #19
  • Jul 18, 2012 8:07am Jul 18, 2012 8:07am
Quoting FiatFap
Final set up after much deliberation.

Method:
Flick through charts (press ctrl+F5) trying to spot divergent boxes and looking at price action on multiple timeframes.

Screenshot:

http://i.imgur.com/Ac95y.gif

Here's a buy on GBPUSD i just did based on a sell daily candle (thick black outlined box) but shorter term timeframes are green and above daily sell candle box. Target is 1.55900 (weekly green candle box 50% level).

Summary:
I've attached latest...
******************************
if you plan a small improvement can you add

inside the bar of "candle sentiment" the related time frame in sml font.

M D W 4H 1H 30M 15M 5M 1M

thanks

BROKENGLISH
  • #20
  • Jul 19, 2012 12:25am Jul 19, 2012 12:25am
hello mrg

see here maybe more fibs on the monthly bar would help as well....
Attached Image (click to enlarge)
Click to Enlarge Name: fib1.jpg Size: 208 KB
BROKENGLISH
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