Highs, Lows and Higher Close, Lower Close Analysis

Highs, Lows and Higher Close, Lower Close Analysis

This analysis tool analyses each candle to see if it has a higher or lower high than the previous candle and whether it has a higher or lower low than the previous candle as well as whether the candle closed up or down. It then simulates what would have happened if you had bought at the close of the candle and held the position for just one candle and displays the results in a graph format.

This tool can help analyse market characteristics and improve our probability of entering the market at only the most favourable times.

This tool is better on longer time frame charts as there is too much noise on shorter time frame charts plus the one candle hold is too short a time period for sensible analysis on these types of charts.

You can select which criteria you want to display by selecting or deselecting it in the indicator window.

The eight possible combinations analysed are:

  1. Higher High and Higher Low (Upward trend) and Green Candle
  2. Higher High and Higher Low (Upward trend) and Red Candle
  3. Lower High and Lower Low (Downward trend) and Green Candle
  4. Lower High and Lower Low (Downward trend) and Red Candle
  5. Higher High and Lower Low (Engulfing) and Green Candle
  6. Higher High and Lower Low (Engulfing) and Red Candle
  7. Lower High and Higher Low (Inside Bar) and Green Candle
  8. Lower High and Higher Low (Inside Bar) and Red Candle

Hover over the chart to see the calculated results of the analysis.

Results calculated include:

Total return if you had opened one position each time the criteria had been met.

Percentage of successful bets.

Average Return (Total won/Number of bets)

Please download and import the .itf file to ensure that you get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Vonasi • 04/19/2018 #

    No Problem GraHal. Please share anything interesting that you find using it.

  2. Vonasi • 04/19/2018 #

    I’ve made a small improvement by adding a Buy and Hold line for comparison. This line can be turned on or off. The updated code can be found here:
    https://www.prorealcode.com/topic/simplest-strategy-since-2008-for-discussion/#post-68870

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