Wedge Pattern indicator, conversion code mq4 to prorealtime

• 09/10/2018 at 2:24 PM #80099
  jcp

  I would like to request conversion of the MetaTrader Wedge Pattern indicator for the purposes of building a screener around this specific pattern

  wedges
  Dependency on ATR (also attached)

  Code and examples here: https://www.mql5.com/en/code/13781

  Explanation of the logic here: https://www.mql5.com/en/blogs/post/648601

  

  jcp

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  09/10/2018 at 2:40 PM #80106
  Nicolas

  I’ll have a look. Do you know that a screener for detecting Wedge patterns is already available here: Wedge pattern screener

  

  Nicolas

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  09/10/2018 at 2:47 PM #80108
  Nicolas

  That’s an interesting way to find Wedge patterns. As described by the author, this is the method he’s using in the code:

  Explain about the logic ,step by step:

  1. plot the high & low point , trend line
  2. the points inside 0.5 Standard deviation ignore. [fig 1]
  3. calculation of the distance between  trend line and points . then ranking these. [fig 2]
  4. at the 1st point ,calculating slope from each points. and  calculating deviation of slope angle.
  5. the slope angle outside 1.2  Standard deviation ignore.
  6. choose the most outside line from those remaining. [fig 3]
  7. if not found does calculation at 2nd points

  
  fig.1

  
  fig.2

  
  fig.3

  

  Nicolas

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  09/11/2018 at 9:26 AM #80153
  Nicolas

  As I expected, the original MT4 indicator uses a lot data arrays, with also specific mql4 instruction to sort/rank automatically the values. This is definitely not doable with ProBuilder 🙁
  But I think I can do something to find and plot wedge patterns with the original idea and the use of a linear regression channel, we’ll see.. 🙂

  

  Nicolas

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