help with candle cluster indicator please
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- This topic has 13 replies, 2 voices, and was last updated 2 months ago by amitoverseas40.
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08/02/2024 at 6:42 PM #236076
Hi Team, need help please as I am not good with coding.
Can you please help me with an indicator that puts an arrow when a candle is closed above the previous bullish candle provided we have a bearish candle in between a cluster of say 7-9 candles?
Same with an arrow when a candle is closed below the previous bearish candle provided we have a bullish candle in between a cluster of say 7-9 candles?
thanks
08/02/2024 at 7:32 PM #236077ChatGpt gave me this. not working due to some parentheses issue…
// ProRealCode for Bullish Arrow Indicator
// Define a bullish candle
BullishCandle = close > open// Define a bearish candle
BearishCandle = close < open// Define the cluster range
ClusterRange = 9// Initialize variable to store condition
BullishCondition = 0// Loop through the range to check conditions
FOR i = 1 TO ClusterRange DO
IF close[i] > open[i] THEN
// Check for bearish candle in between
FOR j = 1 TO i-1 DO
IF close[j] < open[j] THEN
BullishCondition = 1
ENDIF
NEXT
// Plot arrow if condition is met
IF BullishCondition THEN
DRAWARROWUP(close[i-1], open[i-1], 0.5, “”, “”, 10)
BullishCondition = 0
ENDIF
ENDIF
NEXT// ProRealCode for Bearish Arrow Indicator
// Define a bearish candle
BearishCandle = close < open// Define a bullish candle
BullishCandle = close > open// Define the cluster range
ClusterRange = 9// Initialize variable to store condition
BearishCondition = 0// Loop through the range to check conditions
FOR i = 1 TO ClusterRange DO
IF close[i] < open[i] THEN
// Check for bullish candle in between
FOR j = 1 TO i-1 DO
IF close[j] > open[j] THEN
BearishCondition = 1
ENDIF
NEXT
// Plot arrow if condition is met
IF BearishCondition THEN
DRAWARROWDOWN(close[i-1], open[i-1], 0.5, “”, “”, 10)
BearishCondition = 0
ENDIF
ENDIF
NEXT08/03/2024 at 12:18 PM #23608808/03/2024 at 2:26 PM #236092Hi,
Can you give an example of how to place the different candles (bullish/bearish) in the cluster…?
Hi JS, many thanks for your response. I am trying to highlight in a picture what I am requesting. Hope it helps, if not please ask me. as I am not too good with few things 🙂
in a nutshell, whenever there is a cluster of candles with same bars i.e. bullish OR bearish regardless of the consecutive bars range from 2 onwards (7,10 etc), and pointsize of the total bars exceeds for example say 50, we highlight that area as it’s potential buy or sell area whenever the price reach there next. Doing it manually for few months. helpful but miss a lot of things sometimes. so looking for help here.
08/03/2024 at 2:33 PM #236094another picture if that helps in anyway as well please.
08/03/2024 at 2:53 PM #23609608/03/2024 at 3:15 PM #236098Hi JS, thanks for the response.
ok, maybe I am going into jargon of probuilder coding. To put simply pointsize is the price movement summing the total of consecutive bars..
For gold it will be $5 or 50 pips. Not sure How you calculate that but for Dow or Dax, it’ll be simply 50 pips.
so example 65consecutive bars formed on 1 minutes chart with total pip value of 20 as highlighted in picture 2 (both red and black bars are 5 consecutive). Even if We do break below or above these previous bullish or bearish bars. It’s not worth to trade these. Where when price did break above the 6 red bars however, the total of 6 bars was more than 50 pips (in picture 2 only, extreme left ), this was worth the wait have the price retraced to. On the right you’ll see black bars going below the black bars after 7 red bars, again worth the trade go for due to high pipsize value and mark on the chart for reversal.
In chart 1, which gold chart, extreme left, black bar closed below the black bar straight after 1 red bar, total pip value was $5 or 50 points I think.
in chart 1, in the middle, you’ll see both black and red bars closing above and below after x number of bars. We just highlight these areas where pip value is great than [n] regardless of the consecutive bars they close above or below from.
08/03/2024 at 4:18 PM #236105Hi,
First draft as a “breakout” that considers the width of the channel from which it breaks out… (the “pointsize” mentioned?)
So, you can set the minimum width of the channel before a breakout can occur…
Cluster BreakOut12345678910111213141516Once Cluster=9xHighest=Highest[Cluster](High[1])xLowest=Lowest[Cluster](Low[1])xPointDiff=xHighest-xLowestIf xPointDiff>15 and High>xHighest thenDrawArrowUp(BarIndex,High)Coloured("Green")EndIfIf xPointDiff>15 and Low<xLowest thenDrawArrowDown(BarIndex,Low)Coloured("Red")EndIfReturn xHighest as "xHighest" Coloured("Green"), xLowest as "xLowest" Coloured("Red")08/03/2024 at 5:10 PM #236107Hi JS, much much appreciate your help, exactly what I was looking for, saves me a lot of hassle to draw lines manually and gives a clear picture of the range we need to trade in!!. Again many thanks!
1 user thanked author for this post.
08/05/2024 at 5:43 PM #236139Hi JS, apologies, bothering again, is it possible to actually mark the 1st and last bars from where the price movement actually started, if there are “more than 2 consecutive down or UP bars” with lines as highlighted in the picture please?
In the attached, Red is highlighting the down bars move and black is highlighting the UP bar moves.
Thank you very much for your help so far!!
08/05/2024 at 8:34 PM #236147Hi,
The problem with lines is that once they’re drawn, you can’t remove them. The result is a graph with a lot of lines and therefore totally confusing. What do you think of this alternative? (Currently only for the positive “breakout”)
08/05/2024 at 9:02 PM #236149Hi JS, I understand the issue you’ve described about too many lines! Indeed will get confusing. What you’re showing does make sense. We’ve already filtered the pip size so we know that we’ve some move during retracement and if it reverses than the whole channel or more as very clear in your chart. Let’s give it a go 🙂
08/05/2024 at 9:33 PM #236150Hi,
I’ve added the “negative breakout”…
You can optionally adjust the colors and the style and size of texts…
I hope you can do something with it…
Candle Cluster Indicator V21234567891011121314151617181920212223242526272829303132333435363738394041424344454647Once Cluster=9xOffSet=Average[Cluster](Range)/Cluster //xHighest=Highest[Cluster](High[1])xLowest=Lowest[Cluster](Low[1])xPointDiff=xHighest-xLowestIf xPointDiff>15 and High>xHighest thenDrawArrowUp(BarIndex,High)Coloured("Green")EndIfIf xPointDiff>15 and Low<xLowest thenDrawArrowDown(BarIndex,Low)Coloured("Red")EndIfIf xPointDiff>15 and High>xHighest and High[1]>xHighest[1] and High[2]>xHighest[2] and High[3]<xHighest[3] thenStartUpBar=BarIndexStartUpPrice=OpenDrawSegment(BarIndex,Open,BarIndex+5,Open)Coloured("Green")DrawText("Open=#StartUpPrice#",BarIndex+3,Open+xOffSet,SansSerif,Bold,14) Coloured("Green")EndIfIf xPointDiff>15 and High<xHighest and High[1]>xHighest[1] and High[2]>xHighest[2] and High[3]>xHighest[3] thenEndUpBar=BarIndexEndUpPrice=Close[1]DrawSegment(BarIndex-1,Close[1],BarIndex+5,Close[1])Coloured("Green")DrawText("Close=#EndUpPrice#",BarIndex+3,Close[1]+xOffSet,SansSerif,Bold,14)Coloured("Green")EndIfIf xPointDiff>15 and Low<xLowest and Low[1]<xLowest[1] and Low[2]<xLowest[2] and Low[3]>xLowest[3] thenStartUpBar=BarIndexStartUpPrice=OpenDrawSegment(BarIndex,Open,BarIndex+5,Open)Coloured("Red")DrawText("Open=#StartUpPrice#",BarIndex+3,Open+xOffSet,SansSerif,Bold,14) Coloured("Red")EndIfIf xPointDiff>15 and Low>xLowest and Low[1]<xLowest[1] and Low[2]<xLowest[2] and Low[3]<xLowest[3] thenEndUpBar=BarIndexEndUpPrice=Close[1]DrawSegment(BarIndex-1,Close[1],BarIndex+5,Close[1])Coloured("Red")DrawText("Close=#EndUpPrice#",BarIndex+3,Close[1]+xOffSet,SansSerif,Bold,14)Coloured("Red")EndIfReturn xHighest as "xHighest" Style(Line,3)Coloured("Green"), xLowest as "xLowest" Style(Line,3)Coloured("Red")2 users thanked author for this post.
08/05/2024 at 9:50 PM #236152Hi JS, thank you much appreciate your help. Let me try and work on it. Much grateful!
1 user thanked author for this post.
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