Market strength & direction candlesticks

v10.3
Market strength & direction candlesticks

This Indicator was programmed by Nicolas on this website and as I saw that the idea was interesting I was testing it and I warned that with some instruments (depending on the volatility) or depending on the timeframe it was not the same as weekly programming with the MACD as oscillator trend with (12,26,9) and the Adx as a force oscillator in 14 periods in many occasions did not give the most correct information that could be expected, so try to improve it a bit so that each Trader or Investor can adjust it to your taste.

There is a whole system behind this indicator that is quite complex, the most important thing is that the candles do not have the opening and closing as the Japanese candles ; nevertheless it gives very good information when operating, since after a strong upward trend with many green candles the appearance of a red candle and make a new maximum usually warns of the immediate change of market. I also added two more colors that if we use a trend oscillator in this case to choose between MACD, Momentum or Di of the Adx, so that it would be interesting to know if the price was located above or below the level 0 with which I added the dark blue candle for when oscillator crosses the level 0 up and the pink candle to know when the candle crosses the 0 level down is very interesting to see the bounces on this level 0 with alternating candles of these colors and then follow the route If someone wants to know more information about how this indicator works I explain it in the video. (from the minute 24 or so, so you do not waste time).


It is an indicator to make more visual changing the colors of the candles the force that has a continuous movement of the Price.
It is not more than applying the information of a Moment or Tendency oscillator and an oscillator to determine the force of the movement in progress.

For this and because each Graphic Temporality requires its small adjustments and also the sensitivity of each Investor feels more comfortable with some more Aggressive information and others more Conservative I have configured this Indicator with different possibilities

As Oscillators of Moment or Tendencies we have 3 options in Parameters we have: OscillatorTendenial = 1 the MACD = 2 the Momentum and the = 3 the DI (of the Adx) besides as you will see you can configure each one of the parameters of these oscillators with such get more or less sensitivity

To have the information of the force of the movement in progress we will be able to use two Oscillators MetodoFuerza = 1 the ATR or AverageTrueRange and with the MetodoFerza = 2 the ADX as with the Trend oscillators here we can also adjust the different parameters of the period to get more or less Sensitivity

The operation of the oscillator is very basic if the trend oscillator is directed upwards where it is on its course and at the same time the market oscillator is also upwards we will have a green candle

In the case that the Tender Oscillator goes in an upward direction, however, the strength of the market is decreasing then a cyan or light blue colored candle will be drawn.
In the event that the Tendency Oscillator is decreasing or in a bearish direction and also the Force Oscillator is also decreasing then the candle will be drawn in gold if you notice it is usually the color of the candles in the minor corrections or at the beginning of major corrections
In case the Trend Oscillator draws in a bearish direction and the Force oscillator goes in a rising direction then draw the red candle

These are the main candles or the 4 main colors green cyan gold red however taking advantage of the information of Trend oscillators, I have also configured 2 additional colors that point to the crossing of the trend oscillator of level 0 understanding that this information is important both to locate the possible movement path and when the oscillator both above and below usually reach this level and there again bounces this type of movement is clearly reflected because usually draw together a candle of each color For when cross the level 0 upwards the candle is dark blue and for when it crosses the level 0 downwards then the candle drawn is fuchsia (electric rose)
Regardless of the information of these dark blue and fuchsia candles that is very valuable to be able to locate the possible movement the way to operate with these candles is the following
While doing an impulse green candles if it is bullish and red candles if you are bearish you will see that each candle gets a new maximum or minimum when this does not happen and a candle does not make new maximum in uptrend or new minimum in downtrend Lo what happens is that in this same candle or the next maximum the price should make a minimum correction to touch the EMA8 (Media mobil Exponential 8 periods or TLINE) with what is more usual to change the color of the candles

In the case of an upward trend with green candles depending on the sensitivity, we will surely obtain a first red candle and subsequently different golden candles
Depending on the importance of the correction this could be only with golden or even red candles the end of the correction will be marked by different cyan candles at the time of appearing the first green candle again can be the entry for the most prudent to follow the impulse

In case of bearish trend just the opposite after minimos with red candles a green candle appears and then several cyan candles, if the correction is greater even green candles may appear at the time that another red candle appears and a series of golden candles to which a new red candle appears after the impulse resumes

 

Tened en cuenta que hay que añadir 9 variables

Share this

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?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. AGTrader • 131 days ago #

    Interesante, muy visual Doc. Felicidades!!!

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
Bard Hi @Ale, I was wondering if you knew why, when I went to put the Kase Peak Oscillator into i...
ALE Hello Bard, because they are two different indicators
Bard Right, thanks Ale, I have taken your code and made a coloured Peak Osc (thanks again) but ...
ckat55 Thank you Nicolas, is there any way that an alert can be set for when the dot appears?
Nicolas yes, change the last line with: RETURN wrb,qh and set an alarm with the alert tool for ea...
ckat55 Thank you Nicolas, I will try it.
supertiti Hola Ale Can we have this same code from Nicolas's code in smoothed heikin Ashi? Sorry...
ALE Ok, We can discuss in the topic "3D Candlesticks TOPIC" Write me more details
stefou102 Thx Nicolas! trying to test this indicator in an automated strategy but I'm becoming crazy b...
stefou102 mystoploss=call "Adaptative ATR-ADX"(MedianPrice) GRAPH mystoploss as "Adapt"
Nicolas In this case, I suggest to add the indicator's code directly into your strategy.
TAC Bolsa Muy Buen trabajo Jose... no lo he podido mirar hasta ahora... y me parece muy bueno...... so...
Jose7674 Claro, es muy sencillo de adaptar! Ya pondrás algún resultado o idea que saques. La idea s...
cc Excelente indicador @jose7674 Seria ideal que pudiera detectar las divergencias reales como ...
pableitor Hola Domenec, un indicador muy original y util que ciertamente añade mucha informacion a la ...
Domenec Hola Pableitor porque aqui lo que pretendo es programar un nuevo codigao mas ajustado para q...
Juanjo Hola Domenec. He visto en los videos que hablas continuamente de mercado de futuros con grá...
Nicolas Thank you Xusto. Thank you a lot for your contribution :) Since your code is a Pathfinder'...
Xusto Hello, Fully Agree, I will update it with your advice. Btw Can would you like share you co...
luisella Great scanner Odin. Do you know where I can find -intermediate term breadth momentum oscilla...
odin hi luisella, i think breadth indicators a not available in pro realtime, because you the cal...
4example Thank you
GraHal Wow! Thank you Vonasi, great idea!
Vonasi No Problem GraHal. Please share anything interesting that you find using it.
Vonasi I've made a small improvement by adding a Buy and Hold line for comparison. This line can be...
Caribeengeek Bonjour j’avais vu que vous proposiez d’écrire des codes pour ceux qui s’y connaisse pas Mai...
Caribeengeek Les devises unité
Nicolas Merci d'utiliser le forum pour les demandes de programmation personnalisée
Vonasi Thanks for your thanks Real Pro and yes everyone should import the itf file to make sure tha...
Pepsmile Good job, which could be applied for a spectrum of another indicators.
Pepsmile As to better understand which parameters are better for an indicators in a specific period (...
Toto le Heros Thanks Nicolas. I read somewhere that in the calculation, we should round the value of the A...
Nicolas aADX = round(adx[10])

Top