This analysis tool analyses each candle to see if it has a higher or lower high than the previous candle and whether it has a higher or lower low than the previous candle as well as whether the candle closed up or down. It then simulates what would have happened if you had bought at the close of the candle and held the position for just one candle and displays the results in a graph format.
This tool can help analyse market characteristics and improve our probability of entering the market at only the most favourable times.
This tool is better on longer time frame charts as there is too much noise on shorter time frame charts plus the one candle hold is too short a time period for sensible analysis on these types of charts.
You can select which criteria you want to display by selecting or deselecting it in the indicator window.
The eight possible combinations analysed are:
- Higher High and Higher Low (Upward trend) and Green Candle
- Higher High and Higher Low (Upward trend) and Red Candle
- Lower High and Lower Low (Downward trend) and Green Candle
- Lower High and Lower Low (Downward trend) and Red Candle
- Higher High and Lower Low (Engulfing) and Green Candle
- Higher High and Lower Low (Engulfing) and Red Candle
- Lower High and Higher Low (Inside Bar) and Green Candle
- Lower High and Higher Low (Inside Bar) and Red Candle
Hover over the chart to see the calculated results of the analysis.
Results calculated include:
Total return if you had opened one position each time the criteria had been met.
Percentage of successful bets.
Average Return (Total won/Number of bets)
Please download and import the .itf file to ensure that you get full functionality.
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//Highs Lows Up Down Analysis //Created by Vonasi //18-4-2018 Win = Close > Open Lose = Close < open GreenBar = Close[1] > Open[1] RedBar = Close[1] < Open[1] HighUp = High[1] > High[2] HighDown = High[1] < High[2] LowUp = Low[1] > Low[2] LowDown = Low[1] < Low[2] //HighUp LowUp Green IF HigherHigh and HigherLow and Green THEN IF Win and HighUp and LowUp and GreenBar THEN//and close[1] > close[LookBack] THEN HighUpLowUpG = HighUpLowUpG + 1 HighUpLowUpGCount = HighUpLowUpGCount +1 HighUpLowUpGTotal = HighUpLowUpGTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowUp and GreenBar THEN//and close[1] > close[LookBack] THEN HighUpLowUpGCount = HighUpLowUpGCount +1 HighUpLowUpGTotal = HighUpLowUpGTotal - (open - close) - Spread ENDIF ENDIF //HighUp LowUp Red IF HigherHigh and HigherLow and Red THEN IF Win and HighUp and LowUp and RedBar THEN//and close[1] > close[LookBack] THEN HighUpLowUpR = HighUpLowUpR + 1 HighUpLowUpRCount = HighUpLowUpRCount +1 HighUpLowUpRTotal = HighUpLowUpRTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowUp and RedBar THEN//and close[1] > close[LookBack] THEN HighUpLowUpRCount = HighUpLowUpRCount +1 HighUpLowUpRTotal = HighUpLowUpRTotal - (open - close) - Spread ENDIF ENDIF //HighDown LowDownG Green IF LowerHigh and LowerLow and Green THEN IF Win and HighDown and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighDownLowDownG = HighDownLowDownG + 1 HighDownLowDownGCount = HighDownLowDownGCount +1 HighDownLowDownGTotal = HighDownLowDownGTotal + (close - open) - Spread ENDIF IF Lose and HighDown and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighDownLowDownGCount = HighDownLowDownGCount +1 HighDownLowDownGTotal = HighDownLowDownGTotal - (open - close) - Spread ENDIF ENDIF //HighDown LowDownG Red IF LowerHigh and LowerLow and Red THEN IF Win and HighDown and LowDown and RedBar THEN//and close[1] > close[LookBack] THEN HighDownLowDownR = HighDownLowDownR + 1 HighDownLowDownRCount = HighDownLowDownRCount +1 HighDownLowDownRTotal = HighDownLowDownRTotal + (close - open) - Spread ENDIF IF Lose and HighDown and LowDown and RedBar THEN//and close[1] > close[LookBack] THEN HighDownLowDownRCount = HighDownLowDownRCount +1 HighDownLowDownRTotal = HighDownLowDownRTotal - (open - close) - Spread ENDIF ENDIF //HighUp LowDown Green IF HigherHigh and LowerLow and Green THEN IF Win and HighUp and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighUpLowDownG = HighUpLowDownG + 1 HighUpLowDownGCount = HighUpLowDownGCount +1 HighUpLowDownGTotal = HighUpLowDownGTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighUpLowDownGCount = HighUpLowDownGCount +1 HighUpLowDownGTotal = HighUpLowDownGTotal - (open - close) - Spread ENDIF ENDIF //HighUp LowDown Red IF HigherHigh and LowerLow and Red THEN IF Win and HighUp and LowDown and RedBar THEN//and close[1] > close[LookBack] THEN HighUpLowDownR = HighUpLowDownR + 1 HighUpLowDownRCount = HighUpLowDownRCount +1 HighUpLowDownRTotal = HighUpLowDownRTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowDown and RedBar THEN//and close[1] > close[LookBack] THEN HighUpLowDownRCount = HighUpLowDownRCount +1 HighUpLowDownRTotal = HighUpLowDownRTotal - (open - close) - Spread ENDIF ENDIF //HighDown LowUp Green IF LowerHigh and HigherLow and Green THEN IF Win and HighDown and LowUp and GreenBar THEN//and close[1] > close[LookBack] THEN HighDownLowUpG = HighDownLowUpG + 1 HighDownLowUpGCount = HighDownLowUpGCount +1 HighDownLowUpGTotal = HighDownLowUpGTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighDownLowUpGCount = HighDownLowUpGCount +1 HighDownLowUpGTotal = HighDownLowUpGTotal - (open - close) - Spread ENDIF ENDIF //HighDown LowUp Red IF LowerHigh and HigherLow and Red THEN IF Win and HighDown and LowUp and RedBar THEN//and close[1] > close[LookBack] THEN HighDownLowUpR = HighDownLowUpR + 1 HighDownLowUpRCount = HighDownLowUpRCount +1 HighDownLowUpRTotal = HighDownLowUpRTotal + (close - open) - Spread ENDIF IF Lose and HighUp and LowDown and GreenBar THEN//and close[1] > close[LookBack] THEN HighDownLowUpRCount = HighDownLowUpRCount +1 HighDownLowUpRTotal = HighDownLowUpRTotal - (open - close) - Spread ENDIF ENDIF HighUpLowUpGPerc = (Round((HighUpLowUpG/HighUpLowUpGCount)*1000))/10 HighUpLowUpRPerc = (Round((HighUpLowUpR/HighUpLowUpRCount)*1000))/10 HighDownLowDownGPerc = (Round((HighDownLowDownG/HighDownLowDownGCount)*1000))/10 HighDownLowDownRPerc = (Round((HighDownLowDownR/HighDownLowDownRCount)*1000))/10 HighUpLowDownGPerc = (Round((HighUpLowDownG/HighUpLowDownGCount)*1000))/10 HighUpLowDownRPerc = (Round((HighUpLowDownR/HighUpLowDownRCount)*1000))/10 HighDownLowUpGPerc = (Round((HighDownLowUpG/HighDownLowUpGCount)*1000))/10 HighDownLowUpRPerc = (Round((HighDownLowUpR/HighDownLowUpRCount)*1000))/10 HighUpLowUpGAveRet = (Round((HighUpLowUpGTotal/HighUpLowUpGCount)*100))/100 HighUpLowUpRAveRet = (Round((HighUpLowUpRTotal/HighUpLowUpRCount)*100))/100 HighDownLowDownGAveRet = (Round((HighDownLowDownGTotal/HighDownLowDownGCount)*100))/100 HighDownLowDownRAveRet = (Round((HighDownLowDownRTotal/HighDownLowDownRCount)*100))/100 HighUpLowDownGAveRet = (Round((HighUpLowDownGTotal/HighUpLowDownGCount)*100))/100 HighUpLowDownRAveRet = (Round((HighUpLowDownRTotal/HighUpLowDownRCount)*100))/100 HighDownLowUpGAveRet = (Round((HighDownLowUpGTotal/HighDownLowUpGCount)*100))/100 HighDownLowUpRAveRet = (Round((HighDownLowUpRTotal/HighDownLowUpRCount)*100))/100 Return HighUpLowUpGPerc as "HighUpLowUpG%", HighUpLowUpRPerc as "HighUpLowUpR%",HighDownLowDownGPerc as "HighDownLowDownG%", HighDownLowDownRPerc as "HighDownLowDownR%", HighUpLowDownGPerc as "HighUpLowDownG%", HighUpLowDownRPerc as "HighUpLowDownR%", HighDownLowUpGPerc as "HighUpLowDownG%", HighDownLowUpRPerc as "HighDownLowUpR%", HighUpLowUpGTotal coloured(0,128,0) as "HighUpLowUpG Total", HighUpLowUpRTotal coloured(128,0,0) as "HighUpLowUpR Total", HighDownLowDownGTotal coloured(0,128,0) as "HighDownLowDownG Total", HighDownLowDownRTotal coloured(128,0,0) as "HighDownLowDownR Total", HighUpLowDownGTotal coloured(0,128,0) as "HighUpLowDownG Total", HighUpLowDownRTotal coloured(128,0,0) as "HighUpLowDownR Total", HighDownLowUpGTotal coloured(0,128,0) as "HighDownLowUpG Total", HighDownLowUpRTotal coloured(128,0,0) as "HighDownLowUpR Total", HighUpLowUpGAveRet coloured(0,128,0) as "HighUpLowUpG AveRet", HighUpLowUpRAveRet coloured(128,0,0) as "HighUpLowUpR AveRet", HighDownLowDownGAveRet coloured(0,128,0) as "HighDownLowDownG AveRet", HighDownLowDownRAveRet coloured(128,0,0) as "HighDownLowDownR AveRet", HighUpLowDownGAveRet coloured(0,128,0) as "HighUpLowDownG AveRet", HighUpLowDownRAveRet coloured(128,0,0) as "HighUpLowDownR AveRet", HighDownLowUpGAveRet coloured(0,128,0) as "HighDownLowUpG AveRet", HighDownLowUpRAveRet coloured(128,0,0) as "HighDownLowUpR AveRet" |
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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
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Wow! Thank you Vonasi, great idea!
No Problem GraHal. Please share anything interesting that you find using it.
I’ve made a small improvement by adding a Buy and Hold line for comparison. This line can be turned on or off. The updated code can be found here:
https://www.prorealcode.com/topic/simplest-strategy-since-2008-for-discussion/#post-68870