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Candlestick Size Indicator Improved
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Created: by cycomyco Attachments:2

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Candlestick Size Indicator Improved

  #1 (permalink)
Trading Apprentice
riverdale georgia
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: forex
 
Posts: 5 since Aug 2012
Thanks: 0 given, 0 received

Candlestick Size Indicator Improved

Does anybody know how how to create a study for TOS that when a candlestick reaches or passes a specified size a mark is placed on the chart along with the price, I need it to work on 1m charts.

Let me know if there is a TOS import for this already or if some one can write the code down for me thank you.

Example:

98.7
[]


95.3
[]


Forget about the number for one second I would like for singal to trigger when the legnth of the cadle reaches a specified size no mater if its going up or down.

If the [] candle green up length is 10 or above it will paint a up arrow above the candle on the chart.

If the [] candle red down and its length is 10 or above it will paint a down arrow above the candle on the chart.

The numbers on top of these candles is just the buy price but it would be nice to have this.

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  #2 (permalink)
Knowledge Seeker
Dubai, UAE
 
Futures Experience: Intermediate
Platform: TOS, TradeStation
Broker/Data: OX, TradeStation
Favorite Futures: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 138 received

Good Exercise..

Hi,

in case you didn't get a response on your request yet, here's the code you're looking for. Copy and paste to a new study in ToS and give it a name.. should do the trick. i can send you the .ts file if that's easier for you,

hope this helps,
RedK
-----------------------------------------------

input Alert_Range = 1.00;
Def Candle_size = High - low;
Def UpCandle = Close > Open;
Def DownCandle = Open > Close;
plot Signal_Up = Alert_Range > 0 and UpCandle and Candle_Size >= Alert_range;
plot Signal_Down = Alert_Range > 0 and DownCandle and Candle_Size >= Alert_Range;
Signal_Up.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_up);
Signal_Up.setDefaultColor(color.cyan);
Signal_Up.setlineWeight(2);
Signal_Down.setPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_Down);
Signal_Down.setdefaultColor(color.Orange);
Signal_Down.setlineWeight(2);
AddChartBubble(Signal_Up or Signal_Down, If signal_up then high else low, if signal_up then "" + high else "" + low, Color.yellow, signal_up );

Attached Thumbnails
Candlestick Size Indicator Improved-alert_range.png  
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  #3 (permalink)
Trading Apprentice
riverdale georgia
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: forex
 
Posts: 5 since Aug 2012
Thanks: 0 given, 0 received

Alert Bar indicator


Thank you for the help in my study this exactly what I need. If possible can you make a few changes.

1. I need to add a sound alert

alert(open>1.2,”High UP!”,alert.BAR,sound.DING);

2. The problem I am having is if I’m on EUR/USD and I set the alert to .00012 when I switch to EUR/JPY it triggers way to many times so I have to go in and change the alert #.00012 to .00015 Do I have to make setting for each forex or is there a way around this.

3. I am using 1min charts so all I really need is for the alert to trigger in 4 pips that way I can use it for all forex.
so if there is a way to rearrange the code to work off of pips that would be perfect.

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  #4 (permalink)
Knowledge Seeker
Dubai, UAE
 
Futures Experience: Intermediate
Platform: TOS, TradeStation
Broker/Data: OX, TradeStation
Favorite Futures: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 138 received

Added Alert, and an Open_Alert setting

Hi Cycomyco,

1 - added the alert and an Open_Alert input setting ..

2 - 2 ways i see to go around what you need here
first, either you have a set of preferred pairs, each with a different "Alert_bar" setting you use, then we can build a conditional choice around that in the script .. for example (in simple language):
if we're in EUR/USD --> use Alert_Bar value of x
but if we're in EUR/JPY --> use Alert_Bar value of y
... and so on ...
otherwise use Alert_Bar generic value of z

second approach, if there's some sort of a formula that we can use, to calc the proper Alert_Bar value (or come close to it then override as/if needed) based on some variables of the price on the "current chart" regardless of which pair.

for example, in my PriceLevels indicator (EliteSection) i use a generic initial range of 0.5% of the midpoint value of the chart. and there's a setting to over-ride this from the study setting. this way i only need to enter a manual value if the default 0.5% (which should cover many scenarios) doesn't work or i need to see other levels increment.

your choice, we can do either ways.
but i'm not a FOREX expert.. so i can't suggest an approach.. i don't even know what a pip is .. (yes i heard the term.. an interesting word).. but do you mean there's a common Alert_Bar length/range that you need to trigger that alert/signal? then we should use that and if it's up or down, we show the arrows & price accordingly.

in the range charts in TOS, and you can set the range to any value you may need. it seems to work with FOREX .. don't know. it's a different view that i'm mentally not used to .. and my brains get confused so i stick to classic time charts and don't play with it that much.. you may try to give it a shot.

let me know if you need more help,
Cheers, RedK

Alert_Bar_v1.txt


Last edited by RedK; August 28th, 2012 at 08:46 AM.
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  #5 (permalink)
Trading Apprentice
riverdale georgia
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: forex
 
Posts: 5 since Aug 2012
Thanks: 0 given, 0 received

Thanks Redk

Thank you again for taking the time to help me with this study I think you have solved this study the only thing I would say is I trade forex as well and I'll take your recommendation on how to approach this study.

A pip is simple the lowest amount a forex, stock, indices can move in so if you had 1.9656 the pip would be the 6 its always the lowest number in the price.

I will be posting a new challenge study today please check it out I think its going to be huge if it can be done especially for forex trading.

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