New chart view of Candle stick chart

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New chart view of Candle stick chart

Postby easytrading » Sun Oct 21, 2018 6:02 pm

Hello Apprentice,

Is it possible to develop a new chart view of candle stick that is similar to Renko chart but with no pre-set candle size .what i need is to use the same Japanese candle stick chart but only to show the new candle when the price goes above or below the previous candle and it is no matter how long the candle size (with its shadow) will be which will be determine by the chart time frame chosen when it comes to end if only it will be above or below the previous candle . with my appreciation in advance.
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Re: New chart view of Candle stick chart

Postby easytrading » Mon Oct 22, 2018 4:34 pm

sorry Apprentice ,but what i want to see on chart is to be the same as Renko chart view but using Japanese candle stick chart (i.e) to show the next candle body only when the price exceeds the open or close limits of the previous candle which means if the current candle is within the previous candle body don't show it and no matter for the candle body size (no need to pre set the candle body size). i hope i make the idea clear for you.thank you for the great work.
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Re: New chart view of Candle stick chart

Postby Apprentice » Tue Oct 23, 2018 4:33 am

Renko used its rule set.
I'm not sure I understand how the new "Renko" will be calculated.

Let me try to describe it.
As we do have the brick length defined,
we will use a candle body length.
When the new brick is to be created,
we will set upper and lower limit for new brick based on current candle body length.
Did I understand you?

Previous Candle Body Swing Candle View.lua was also added.
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Re: New chart view of Candle stick chart

Postby easytrading » Tue Oct 23, 2018 2:37 pm

I Was unable to download the last indicator Previous Candle Body Swing Candle View.lua because of error in line 164 & line 161 as the message showing to me could you check it please ?
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Re: New chart view of Candle stick chart

Postby Apprentice » Wed Oct 24, 2018 5:15 am

Fixed.

Can you provide guidance on further development?
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Re: New chart view of Candle stick chart

Postby easytrading » Fri Oct 26, 2018 1:25 am

Hello Apprentice,
again the main concept of the idea is to plot a new Japanese candle body on chart only when the price action exceeds the limits of OPEN or CLOSE of the previous candle body that means if the next candle body (or candles) is (or are) in the range of the previous candle body limits please, DO NOT show it on chart (skip it) as long as all or part of it did not goes above or below the open or close previous body limits .so this will answer your questions above by you can use the the previous candle open & close limits as reference for the new brick candle to be created ONLY AND ONLY IF when the price action exceeds these previous candle limits up or down of them ,and never pay attention on what the length of the new body candle size will be because you will let the time frame chosen by the user to control & determined the length of the body size when it comes to end ,like for example if i am using H1 time frame chart and a new candle is being creating the length of this body candle will stop when the the 1H comes to end.
In the end we gonna have a chart view that reflects very clearly the high (peak) or low (trough) swings of price action which will help us to track the price action very easily when its change its direction up or down.hopefully this make the task more clear for you with my highly appreciation .
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Re: New chart view of Candle stick chart

Postby Apprentice » Fri Oct 26, 2018 4:53 am

Previous Candle Body Swing Candle View.lua does not match your specification?
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Re: New chart view of Candle stick chart

Postby easytrading » Mon Oct 29, 2018 3:53 pm

Not exactly Apprentice ,cause it is still showing candles that are within previous candles bodies .is it possible to eliminate that please ?
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Re: New chart view of Candle stick chart

Postby Apprentice » Tue Oct 30, 2018 4:37 pm

Your request is added to the development list under Id Number 4290
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