FXCodeBase.COM: Forex Chart Indicators and Development

Indicator for calculating the candle formed by the last N periods:

Open = Open price N periods ago
Close = Close price current period
High = Higher price of the last N periods
Low = Lower price of the last N periods

Code: Select all

function Init()
    indicator:name("NCandle indicator");
    indicator:description("NCandle indicator");
    indicator:requiredSource(core.Bar);
    indicator:type(core.Indicator);

    indicator.parameters:addGroup("Calculation");
    indicator.parameters:addInteger("N", "N", "", 10);

    indicator.parameters:addGroup("Style");
    indicator.parameters:addColor("HIGH", "Color for High", "Color for High", core.rgb(0,0,255));
    indicator.parameters:addColor("LOW", "Color for Low", "Color for Low", core.rgb(255,0,255));
    indicator.parameters:addColor("UP", "Color for UP", "Color for UP", core.rgb(0,255,0));
    indicator.parameters:addColor("DOWN", "Color for DOWN", "Color for DOWN", core.rgb(255,0,0));
    indicator.parameters:addInteger("widthLinReg", "Line width", "Line width", 3, 1, 5);
    indicator.parameters:addInteger("styleLinReg", "Line style", "Line style", core.LINE_SOLID);
    indicator.parameters:setFlag("styleLinReg", core.FLAG_LINE_STYLE);
    indicator.parameters:addInteger("Transparency", "Transparency", "", 50,0,100);
end

local first;
local source = nil;
local N;
local High;
local Low;
local hUP=nil;
local hDN=nil;
local lUP=nil;
local lDN=nil;

function Prepare()
    source = instance.source;
    N=instance.parameters.N;
    first = source:first();
    local name = profile:id() .. "(" .. source:name() .. ", " .. instance.parameters.N .. ")";
    instance:name(name);
    High = instance:addStream("High", core.Line, name .. ".High", "High", instance.parameters.HIGH, 0);
    Low = instance:addStream("Low", core.Line, name .. ".Low", "Low", instance.parameters.LOW, 0);
    hUP=instance:addInternalStream(0, 0);
    hDN=instance:addInternalStream(0, 0);
    lUP=instance:addInternalStream(0, 0);
    lDN=instance:addInternalStream(0, 0);
    High:setWidth(instance.parameters.widthLinReg);
    High:setStyle(instance.parameters.styleLinReg);
    Low:setWidth(instance.parameters.widthLinReg);
    Low:setStyle(instance.parameters.styleLinReg);
    instance:createChannelGroup("UpGroup","Up" , hUP, hDN, instance.parameters.UP, 100-instance.parameters.Transparency);
    instance:createChannelGroup("DnGroup","Dn" , lUP, lDN, instance.parameters.DOWN, 100-instance.parameters.Transparency);
end

function Update(period, mode)
   if (period>source:size()-N) and (period>=first+N) then
    local Max=core.max(source.high,core.rangeTo(source:size()-1,N));
    local Min=core.min(source.low,core.rangeTo(source:size()-1,N));
    core.drawLine(High,core.range(source:size()-N,period),Max,source:size()-N,Max,period);
    core.drawLine(Low,core.range(source:size()-N,period),Min,source:size()-N,Min,period);
    High[source:size()-1-N]=nil;
    Low[source:size()-1-N]=nil;
    local Open=source.open[source:size()-N];
    local Close=source.close[source:size()-1];
    if Open>Close then
     core.drawLine(lUP,core.range(source:size()-N,period),Open,source:size()-N,Open,period);
     core.drawLine(lDN,core.range(source:size()-N,period),Close,source:size()-N,Close,period);
     core.drawLine(hUP,core.range(source:size()-N,period),0,source:size()-N,0,period);
     core.drawLine(hDN,core.range(source:size()-N,period),0,source:size()-N,0,period);
     lUP[source:size()-1-N]=nil;
     lDN[source:size()-1-N]=nil;
     hUP[source:size()-1-N]=nil;
     hDN[source:size()-1-N]=nil;
    else
     core.drawLine(hUP,core.range(source:size()-N,period),Close,source:size()-N,Close,period);
     core.drawLine(hDN,core.range(source:size()-N,period),Open,source:size()-N,Open,period);
     core.drawLine(lUP,core.range(source:size()-N,period),0,source:size()-N,0,period);
     core.drawLine(lDN,core.range(source:size()-N,period),0,source:size()-N,0,period);
     lUP[source:size()-1-N]=nil;
     lDN[source:size()-1-N]=nil;
     hUP[source:size()-1-N]=nil;
     hDN[source:size()-1-N]=nil;
    end
   else
    High[period]=nil;
    Low[period]=nil;
   end
   
end


MT4/MQ4 version
viewtopic.php?f=38&t=66241

Thank you very much, nice work!

More nice work Alexander.

Would it be possible to make the indicator with an option to not include the current bar?


thanks -rob

rretch wrote:More nice work Alexander.

Would it be possible to make the indicator with an option to not include the current bar?


thanks -rob

I second that!

thx

d

I will forward this request to Alex.

Please, see this version of indicator.

is there any way possible to make this a strategy? if current candle closes below the lowest price of n periods go short.. vice versa for long. I have searched the strategies and havent seen anything for a simple strategy as this.. thanks

dc

aww scratch that.. found one that does exactly what I need thanks for the aweseome indicator

dc

Indicator was revised and updated.

Great work guys! I have been using this indicator for about 2 years now. A longer setting of 10 to 15 bars shows when a market is in a range and 3 to 5 period setting gives some of the best stoploss levels in trending markets.

I would like to request a small feature to be added: ignore inside bars; So that when and inside bar occurs one can have the option of the indicator counting the bars but ignoring the inside bar. This will help to reduce the chance of being stopped out too early when the market slows down.

Thanks you.