Lower tf suggestions of consilidation

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  • #141533

    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!

     

    #145415

    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:

    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.
    #145417

    Above code added as Log 241 to here

    Snippet Link Library

    3 users thanked author for this post.
    #145438

    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.

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