2.customize pattern 4 candle

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2.customize pattern 4 candle

Postby siapmn » Tue Apr 13, 2021 12:17 pm

I need this Indicator with Alert

Pattern 2:
Uptrend;
Candle 1: The candle size has to be standard. The length of the high shadow has to be at least 10% of the whole candle. (The candle could be both bearish and bullish.)
Candle 2: It should be an inside bar candle. Its open and close should be between high and low of the first candle. It should have the high shadow, and the high shadow should be lower than the first candle's high shadow. (The candle could be both bearish and bullish.)
Candle 3: Same as Candle 2.
Candle 4: The candle size has to be standard. Its high shadow must engulf the first candle's high shadow. (The candle could be both bearish and bullish.)

Downtrend;
Candle 1: The candle size has to be standard. The length of the low shadow has to be at least 10% of the whole candle. (The candle could be both bearish and bullish.)
Candle 2: It should be an inside bar candle. Its open and close should be between high and low of the first candle. It should have the low shadow, and the low shadow should be higher than the first candle's low shadow. (The candle could be both bearish and bullish.)
Candle 3: Same as Candle 2.
Candle 4: The candle size has to be standard. Its low shadow must engulf the first candle's low shadow. (The candle could be both bearish and bullish.)

Range Candle (pip) Formula:
(Price * 66%) = Daily Range Candle (pip)
Notice : If price has Decimal places we need An integer Number>>>>>
for example :
Daily Range = (0.92935*66%)=0.613 >>> 0.613*100 = 61 pip
Daily Range = (10.964*66%)=7.23624 >>>> 7.234*10 = 72 pip
Daily Range = (77.706*66%)=51 pip
Daily Range Candle * 5.5 = Monthly Range Candle
Daily Range Candle * 2.6 = Weekly Range Candle
Daily Range Candle * 40% = 4hour Range Candle
Daily Range Candle * 20% = 1hour Range Candle
Daily Range Candle * 10% = 15minutes Range Candle
Daily Range Candle * 5% = 5minutes Range Candle

Candle Size Formula:
1% of Range Candle ≤ Spinning Candle ≤ 79% of Rang Candle.
80% of Range Candle ≤ Standard Candle ≤ 120% of Rang Candle.
121% of Range Candle ≤ Long Bar Candle ≤ 250% of Rang Candle.
250% of Range Candle ≤ Spike Candle ≤ ∞ unlimited.


Inside Bar Candle: Its open and close has to be between high and low of the previous candle (mother).
Attachments
fx 2.jpg
Last edited by siapmn on Sun Apr 18, 2021 2:50 am, edited 3 times in total.
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Re: 2.customize pattern 4 candle

Postby Apprentice » Tue Apr 13, 2021 1:16 pm

Your request is added to the development list.
Development reference 352.
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Re: 2.customize pattern 4 candle

Postby Apprentice » Sun Apr 18, 2021 2:27 am

I don't understand this part
80% of Range Candle ≤ Standard Candle ≤ 120% of Rang Candle.
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Re: 2.customize pattern 4 candle

Postby siapmn » Mon Apr 19, 2021 3:24 am

Rules :
This is a personal formula "Candle Movement Power"

Price * 66% = Candle movement power Daily
This number must be rounded and converted to an integer because it has decimals. According to the following example:
EUR/USD : 1.19876 * 66% = 0.7911816
Candle movement power Daily is 79 pip
USD/CHF : 0.91934 * 66% = 0.6067644
Candle movement power Daily is 60 pip
USD/JPY : 108.385 * 66% = 71.5341
Candle movement power Daily is 71 pip
NZD/JPY : 77.589 * 66% = 51.20874
Candle movement power Daily is 51 pip

Now to get candle power in other timeframes. According to the following example :
EUR/USD : 1.19876 * 66% = 0.7911816
Candle movement power Daily is 79 pip
79 pip * 5.5 = 434 pip "Monthly Candle movement power"
79 pip * 2.6 =205 pip "Weekly Candle movement power "
79 pip * 40% =32 pip "4hour Candle movement power"
79 pip * 20% = 16 pip "1hour Candle movement power"
79 pip * 10% =8 pip "15minutes Candle movement power"
79 pip * 5% = 4 pip "5minutes Candle movement power"

NOW
We categorized and named the candlesticks at each timeframe according to their size::
For example :
If a candle in the 4Hour EUR/USD is 100 pip , This is a Spike Candle.
Or If a candle in the 4Hour EUR/USD is 15 pip , This is a Spinning Candle. Because:
79 pip * 40% =32 pip "4hour Candle movement power"

0.32 pip ≤ Spinning Candle ≤ 25 pip
25.6 pip ≤ Standard Candle ≤ 38.4 pip .
38.7 pip ≤ Long Bar Candle ≤ 80 pip .
81 pip ≤ Spike Candle ≤ ∞ unlimited.

Candle Size Formula:
1% of Range Candle ≤ Spinning Candle ≤ 79% of Rang Candle.
80% of Range Candle ≤ Standard Candle ≤ 120% of Rang Candle.
121% of Range Candle ≤ Long Bar Candle ≤ 250% of Rang Candle.
250% of Range Candle ≤ Spike Candle ≤ ∞ unlimited.


Inside Bar Candle: Its open and close has to be between high and low of the previous candle (mother).
siapmn
 
Posts: 41
Joined: Fri Jan 15, 2021 8:16 am

Re: 2.customize pattern 4 candle

Postby siapmn » Mon Apr 26, 2021 5:28 am

Dear Apprentice
Let's simplify the formula this time (Please ignore the previous formula):
In fact, I want a pattern that creates a tick shape by the shadows.

Uptrend:

Candle 1: It must have a high shadow. It doesn't matter if it’s a bearish or a bullish candle.

Candle 2: It must have a high shadow and be an inside bar candle. Its high shadow should be lower than candle 1. It doesn't matter if it’s a bearish or a bullish candle.

Candle 3: The close of this candle should be inside candle 1.
Its high shadow should be lower than candle 1.
It doesn't matter if it’s a bearish or a bullish candle.

Candle 4: It must have a high shadow and be higher than candle 1.
It doesn't matter if it’s a bearish or a bullish candle.


Downtrend:

Candle 1: It must have a Low shadow. It doesn't matter if it’s a bearish or a bullish candle.

Candle 2: It must have a Low shadow and be an inside bar candle. Its Low shadow should be higher than candle 1. It doesn't matter if it’s a bearish or a bullish candle.

Candle 3: The close of this candle should be inside candle 1.
Its low shadow should be higher than candle 1.
It doesn't matter if it’s a bearish or a bullish candle.

Candle 4: It must have a low shadow and be lower than candle 1.
It doesn't matter if it’s a bearish or a bullish candle.



Inside Bar Candle: Its open and close has to be between high and low of the previous candle (mother).
Attachments
Tik 4.jpg
siapmn
 
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Re: 2.customize pattern 4 candle

Postby ahmedalhosenyy » Wed Dec 06, 2023 11:28 am

hello ,

Any update for the indicator .

the simple form shown in the two pictures will be good enough

thanks in advance
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Re: 2.customize pattern 4 candle

Postby Apprentice » Sun Dec 10, 2023 11:34 am

We have added your request to the development list.
Development reference 1102
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