Lower tf suggestions of consilidation

• 08/13/2020 at 5:34 PM #141533
  Machinelearning122

  Hi, I am a new member of this forum. And hopefully I can get some help from you guys.

  I have several lower tf bot mostly 3-5min. I need some suggestions for them to not take any trends in big consilidation, like this one today as it has consilidate for ~3 days.

  I want the bots to not take trades at all or keep the position until we have a break out.

  What do you think is best for this? Bollinger bands? Or ichimoku with chikou (lagging span).

  What is your suggestions? Do you have any finished codes I can put in and optimize?

  Thank you!

   

  

  Machinelearning122

  Participant

  Topics: 2

  Replies: 3

  Been thanked: 0 times
  09/25/2020 at 4:06 PM #145415
  robertogozzi

  The simplest way is to assume there’s a range going on when the difference from the highest to the lowest prices, in the last N bars, does not exceeds X pips:

  N = 50 X = 30 * pipsize MyHI = highest[N](high) MyLO = lowest[N](low) IsRange = (MyHI - MyLO) <= X

  1 2 3 4 5

  N       = 50 X       = 30 * pipsize MyHI    = highest[N](high) MyLO    = lowest[N](low) IsRange = (MyHI - MyLO) <= X

  other ways:

  • two MA’s cross multiple times within the last N bars
  • Adx
  • Bollinger Bans (or just one of them) sit inside the Keltner Channel

  you can surely find more.

   

   

  1 user thanked author for this post.

  paisantrader

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17134

  Been thanked: 4031 times
  09/25/2020 at 4:24 PM #145417
  GraHal

  Above code added as Log 241 to here

  Snippet Link Library

  3 users thanked author for this post.

  Monochrome, paisantrader, robertogozzi

  

  GraHal

  Participant

  Topics: 212

  Replies: 8785

  Been thanked: 2185 times
  09/26/2020 at 8:41 AM #145438
  Vonasi

  Also consider using the average MAE and MFE (distance between open and high and distance between open and low) in the last x candles. If it is below a longer term average of it or falling consistently then the market is consolidating/going sideways/less volatile.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
• Author
  Posts