15 popular candle patterns

[Valeria]

Hi johnrichard26,

how to install PATTERN3_SIGNAL.LUA in trading station

Please read this post and watch the video tutorial.

[MeiniOz]

Alex is using the literal definition, which is difficult to achieve on forex,
Because we have a supermarket close / gaps only during weekends, it's not a daily occurrence as is the case for stocks.

IMO the way Forex Candles are being presented is fundamentally flawed with the open of each candle being always equal to the previous close. As per my understanding the close of a candle should show the value of the last trade of that period and the open should show the first trade of the next period. Anyway given the way it is, we need to rewrite the engulfing pattern rules slightly to accommodate for this, don't we!

[matson]

Hello
1/is it possible to get pattern4 with sound and recurrent sound
in 5min period it is impossible to read the legend can it be put with variable characters or smaller?

2/ in pattern3 with sound it does n't write on the chart the legend of the pattern anymore, is it possible to put it again?
many thanks

[Apprentice]

Your request is added to the development list.

[panos59]

Just 2 questions..

a: which is the best setting to use for a H1 chart 0 or 1 in maximun pips distance setting ?
b: does anyone knows a similar expert for MT4 ? some type of alert is a bonus..i have found several experts in candle pattern recognition but i don't know which one to choose ..
any suggestion is welcome -:)

[Taskryr]

I'd like to request a variation candle pattern for this indicator. . .

It would be very similar to the CPR or Outside bar candle pattern, but slightly different.

For a Closing Price Reversal High: the current candle makes a lower low than the previous candle, but CLOSES higher than the high of the previous candle.

For a Closing Price Reversal Low: The current candle makes a higher high than the previous candle, but CLOSES lower than the low of the previous candle.

The difference between the Outside candle and this type of Closing Price Reversal is that we are looking for the CLOSE and not just the high or low point.

Thanks,

[Apprentice]

Your request is added to the development list.

[aglagla]

Hi, I'm trying to learn how to develop for TS2.
What I'm doing basically is taking other indicators or strategies and learning from the source code.

I'm trying to tweak with this indicator a wee bit.
I've been trying to target let's say the data (OHLC) of previous 7 or less candles to the last complete candle.

is it enough to create new "local" like:

Code: Select all

local O4, H4, L4, C4, T4, B4, BL4, US4, LS4;

then in the function "ExtUpdate" add:

Code: Select all

O4=gSource.open[period - 4];
H4=gSource.high[period - 4];
....
....
T4=math.max(O4,C4);
B4=math.min(O4,C4);
....
....
et cetera...


Thanks for your reply

[Apprentice]

min max of previous 7 candles

local min,max= mathex.minmax(source, period-7+1, period);