Candle stretch & retract

• 10/24/2017 at 8:37 AM #50356
  Mansoor

  Let’s assume the price of a 10 minute candle is stretching and retracting between 100 & 120 as the following:

  Candle opening: Price = 100

   

  Minute 1: Price = 120

   

  Minute 2: Price = 120

   

  Minute 3: Price = 100

   

  Minute 4: Price = 120

   

  Minute 5: Price = 120

   

  Minute 6: Price = 120

   

  Minute 8: Price = 120

   

  Minute 9: Price = 120

   

  Candle Closing: Price = 100

  So the next candle opens at 100 but looking at the above data you know that there is a push for the price to go to 120. Is there an indicator to show this? Or does anyone have a code to capture this?

  

  Mansoor

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  10/24/2017 at 12:42 PM #50380
  Nicolas

  Candlestick’s High?

  Or do you mean, that 120 had been a major part of the 10 minutes candlestick?

  

  Nicolas

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  10/24/2017 at 1:40 PM #50388
  Mansoor

  Over the last 10 minutes the price has been 100 for 3 times and 120 for 7 times. So statistically it is more likely to move to 120 in the next candle. This is just my own observation not scientific. It happens a lot in short timeframes.

  

  Mansoor

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  10/24/2017 at 3:34 PM #50398
  robertogozzi

  A very brute suggestion is to lower your TF to 1 minute, then compute the statistics in a do-it-yourself way.

   

  

  robertogozzi

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  10/27/2017 at 12:25 PM #50708
  Nicolas

  I don’t see any other solution than the one Roberto told you.

  Each new tick in the current candle, all variables are reset, so you cannot know how many times a price were met between the High and Low..

  

  Nicolas

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