How often does the 1h candle reverse itself from its open? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

How to make EA that send Open Price of Candle for every new candle 5 replies

How often does this happen and what do you do - acct performance? 1 reply

Blown stops, how often does it happen and when 11 replies

counter to count the candle itself 3 replies

what time does oanda's daily candle open 3 replies

Attachments: How often does the 1h candle reverse itself from its open?
Exit Attachments

How often does the 1h candle reverse itself from its open?

  • #1
  • First Post: Jun 5, 2013 3:28am Jun 5, 2013 3:28am
How often does the 1h candle reverse itself from it's open color and close the opposite color?
  • #2
  • Jun 5, 2013 4:45am Jun 5, 2013 4:45am
When a candle opens. its open, high, low and close are all exactly the same. It is a small horizontal line and so does not have a colour
Please Do Not PM Me With Coding Enquiries
  • #3
  • Jun 5, 2013 8:20am Jun 5, 2013 8:20am
Quoting dforant1
How often does the 1h candle reverse itself from it's open color and close the opposite color?

The best thing to do is monitor 1hr candles for 01 - 02 weeks. So you can get good insights.
  • #4
  • Jun 5, 2013 9:17am Jun 5, 2013 9:17am
Quoting dforant1
How often does the 1h candle reverse itself from it's open color and close the opposite color?
Kind of hard to quantify how often that happens. (Well it's easy just a lot of work. All you need to do is open an hour chart and gather information from a long enough time frame of 1h candles to be relevant, but it seems like an awful lot of work for an arbitrary piece of information.)

But I agree with 'WilliamDa'. You pretty much have to observe the 1h candles for a while to get an understanding of how the markets, and in your case individual candles, react. I would say an even longer time from of 1 month of 1h candles would give you a good idea of how the candles react. That would mean you have observed at least a few central bank reports and other important events.
THERE IS AS YET INSUFFICIENT DATA FOR A MEANINGFUL ANSWER.
  • #5
  • Jun 5, 2013 11:24am Jun 5, 2013 11:24am
Quoting dforant1
How often does the 1h candle reverse itself from it's open color and close the opposite color?
Almost all the candles have wicks and to form the opposite wick the price has to go first in the opposite direction...

Unless your question is how often does the price travel the body 3 times? More often than I expected. Below the orange candles closed below the open but price went to the low before the high. The light green ones are candles that closed higher then they opened and price reached the high before the low.

I hope this answers the question...

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB
No greed. No fear. Just maths.
  • #6
  • Jun 5, 2013 11:27am Jun 5, 2013 11:27am
Quoting PipMeUp
{quote} Almost all the candles have wicks and to form the opposite wick the price has to go first in the opposite direction... Unless your question is how often does the price travel the body 3 times? More often than I expected. Below the orange candles closed below the open but price went to the low before the high. The light green ones are candles that closed higher then they opened and price reached the high before the low. I hope this answers the question... {image}
More so than breaking the high and low I think the OP wanted to know whether or not the candles actually closed in the opposing direction of the previous candle.
THERE IS AS YET INSUFFICIENT DATA FOR A MEANINGFUL ANSWER.
  • #7
  • Jun 5, 2013 11:32am Jun 5, 2013 11:32am
Quoting PipMeUp
{quote} Almost all the candles have wicks and to form the opposite wick the price has to go first in the opposite direction... Unless your question is how often does the price travel the body 3 times? More often than I expected. Below the orange candles closed below the open but price went to the low before the high. The light green ones are candles that closed higher then they opened and price reached the high before the low. I hope this answers the question... {image}
I'm interested in knowing how you changed the colors of individual candles. Is this on metatrader 4?
THERE IS AS YET INSUFFICIENT DATA FOR A MEANINGFUL ANSWER.
  • #8
  • Jun 5, 2013 11:38am Jun 5, 2013 11:38am
Ah. I didn't understand the question then. Sorry.
(I wasn't talking about breaking out any H/L but the movement of the price within one single H1 candle.)

No I'm not using MT4. I coded it myself.
No greed. No fear. Just maths.
  • #9
  • Jun 5, 2013 11:42am Jun 5, 2013 11:42am
Quoting PipMeUp
Ah. I didn't understand the question then. Sorry. (I wasn't talking about breaking out any H/L but the movement of the price within one single H1 candle.) No I'm not using MT4. I coded it myself.
Yeah I figured you were referring to that.

That's awesome. Any way you could PM me the code or template? I like to screenshot charts and that would definitely help draw attention to specific candles.
THERE IS AS YET INSUFFICIENT DATA FOR A MEANINGFUL ANSWER.
  • #10
  • Jun 5, 2013 11:49am Jun 5, 2013 11:49am
Sorry I cannot. I'm writing an full application. It's not just a small bunch of code I can share.
No greed. No fear. Just maths.
  • #11
  • Jun 5, 2013 11:51am Jun 5, 2013 11:51am
Quoting PipMeUp
Sorry I cannot. I'm writing an full application. It's not just a small bunch of code I can share.
Ahh I see. It's all good man. Looks pretty good so far. Good luck with all your ventures.
THERE IS AS YET INSUFFICIENT DATA FOR A MEANINGFUL ANSWER.
  • #12
  • Jun 7, 2013 4:28am Jun 7, 2013 4:28am
Is a 50% up and 50% down bars. I have done an analysis for EUR daily/weekly/H4/any period bars, all have the same result. However, result is not 50% with subject to how long is the period for this observation. Please check my thread "About my unique analysis". Hope this help.

http://www.forexfactory.com/showthread.php?t=385983
  • #13
  • Last Post: Jun 7, 2013 4:30am Jun 7, 2013 4:30am
Quoting dforant1
How often does the 1h candle reverse itself from it's open color and close the opposite color?
Pull up a chart and count!
What kind of question is that
swing it!
0 traders viewing now