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Shaved Bar Indicator for Tradestation?


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Shaved Bar Indicator for Tradestation?

  #1 (permalink)
lselalum
Houston, Texas/USA
 
Posts: 5 since Jul 2013
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Thanks Received: 1

Hi all,

I have tried to code a Show Me alert that shows up when the close of the candle is within 5% of the high or low of the same candle. I thought I could modify the existing Doji "Show Me" but somehow I messed it up. The alert should ignore doji candles (open=close), and should not consider the other wick (ie. bull candle only checks the upper wick, bear candle only checks the lower wick. This indicator seems to exist in mq4 but I can't find it for Easy Language and cant seem to get it right.


If any of you have thoughts on how I could code this or have the code yourself I would really appreciate it.

Thanks from a Newbie!

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  #3 (permalink)
 ABCTG   is a Vendor
 
Posts: 2,435 since Apr 2013
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lselalum,

this should do what you have in mind or at least could be tweaked towards doing it:

 
Code
Inputs: 
	double Percent	( 5 );

Variables:
	double Percentage	( 0 );

once Percentage = Percent / 100 ;
	
//up bar
if Close > Open and Close >= ( High - ( High * Percentage ) ) then
	Plot1( Low );
//down bar
if Close < Open and Close <= ( Low + ( Low * Percentage ) ) then
	Plot2( High );
Regards,
ABCTG

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  #4 (permalink)
lselalum
Houston, Texas/USA
 
Posts: 5 since Jul 2013
Thanks Given: 1
Thanks Received: 1

ABCTG,

Thank you so much. I put the code in as is and it showed an alert (dot) on every single candle on the daily chart. Not sure what went wrong.

Any thoughts?



ABCTG View Post
lselalum,

this should do what you have in mind or at least could be tweaked towards doing it:

 
Code
Inputs: 
	double Percent	( 5 );

Variables:
	double Percentage	( 0 );

once Percentage = Percent / 100 ;
	
//up bar
if Close > Open and Close >= ( High - ( High * Percentage ) ) then
	Plot1( Low );
//down bar
if Close < Open and Close <= ( Low + ( Low * Percentage ) ) then
	Plot2( High );
Regards,
ABCTG


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  #5 (permalink)
 ABCTG   is a Vendor
 
Posts: 2,435 since Apr 2013
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lselalum,

what symbol did you test? A bar closing within 5% from the high or 5% from the low is very common by the way. In fact I'd expect almost all bars to trigger this condition, expect the dojis that are ruled out in the code. Think about a bar that makes a high of 1000, as long as the close is within 50 points of the high your condition is valid.

Maybe you could clarify the condition you are looking for and give an example.

Regards,
ABCTG

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  #6 (permalink)
lselalum
Houston, Texas/USA
 
Posts: 5 since Jul 2013
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Thanks Received: 1

Excellent point

I think the filter here that makes them more rare is the close has to be in the direction of the bar. For instance, using your example of a high of 1000. The close would need to be between 95 to 100 points. It has to be in the direction of the bar for it to filter.

I tested USD/JPY on a daily chart, btw.

I hope my explanation helped to clarify things a bit.

Thanks again for the hel

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  #7 (permalink)
 ABCTG   is a Vendor
 
Posts: 2,435 since Apr 2013
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lselalum,

can you show a picture of a bar you'd like to see labeled? The code checks for up bars or down bars, which is in the direction of the bar in my opinion.

Regards,
ABCTG

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  #8 (permalink)
lselalum
Houston, Texas/USA
 
Posts: 5 since Jul 2013
Thanks Given: 1
Thanks Received: 1

ABCTG,

Shaved Bars shown with blue dots.



Video:
Shaved Bars | Ninjacators.com

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  #9 (permalink)
 
kronie's Avatar
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009

take a snapshot and post a picture of what these bars look like to you.


perhaps we can identify them or associate them with other types already in evidence...


there are volume bars, and
there are skinny bars, and

there are fat bars, and

there are inside bars, and
there are outside bars, and
there are volume bars, oh, did I say that already?

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  #10 (permalink)
lselalum
Houston, Texas/USA
 
Posts: 5 since Jul 2013
Thanks Given: 1
Thanks Received: 1


Thanks everyone,

Got it to work with some additional assistance.

In case anyone wants it here is the code:

__
Inputs: HighPct( .95 ), LowPct( .05 );
var: CloseNearHigh( false ), CloseNearLow( False );

CloseNearLow = Close <> Open and Close <= Range * LowPct + Low;
CloseNearHigh = Close <> Open and Close >= range * HighPct + low;

If CloseNearHigh then plot1( High,"",Green );
If CloseNearLow then plot1( Low,"",Red );

if CloseNearHigh then
Alert( "CloseNearHigh" )
else if CloseNearLow then
Alert( "CloseNearLow" ) ;
___

I would suggest changing the plot color as it currently shows up as the same color as the bar.

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Last Updated on July 7, 2014


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