Here is an original way to represent price fluctuations. This type of candle is very similar to the heiken ashi candles, but are, in my opinion, more logical in their construction and interpretation. The gamma parameter allows you to select the desired level of smoothness, from 0 (more reactive) to 1 (smoother).
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// --- settings gamma = 0 //(0 to 1) // end of settings OSeries = Open once ol0 = OSeries once ol1 = OSeries once ol2 = OSeries once ol3 = OSeries IF BarIndex = 0 THEN OL = OSeries ELSE ol0 = (1 - gamma) * OSeries + gamma * ol0[1] ol1 = -gamma * ol0 + ol0[1] + gamma * ol1[1] ol2 = -gamma * ol1 + ol1[1] + gamma * ol2[1] ol3 = -gamma * ol2 + ol2[1] + gamma * ol3[1] OL = (ol0 + 2 * ol1 + 2 * ol2 + ol3) / 6 ENDIF CSeries = CustomClose once cl0 = CSeries once cl1 = CSeries once cl2 = CSeries once cl3 = CSeries IF BarIndex = 0 THEN CL = CSeries ELSE cl0 = (1 - gamma) * CSeries + gamma * cl0[1] cl1 = -gamma * cl0 + cl0[1] + gamma * cl1[1] cl2 = -gamma * cl1 + cl1[1] + gamma * cl2[1] cl3 = -gamma * cl2 + cl2[1] + gamma * cl3[1] CL = (cl0 + 2 * cl1 + 2 * cl2 + cl3) / 6 ENDIF DRAWCANDLE(OL, high, low, CL) return |
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Hi Bruno
Could you tell me where I can find more info about Laguerre candlesick please ?
oops sorry did not see that one had to untick the standard Price to see your candle…