This indicator follows on the previous #TheStrat indicators which compliment the work of @RobInTheBlack (Twitter Handle) who has helped countless traders with this pure price action based strategy that he developed over the past 27 years of trading, It is called #TheStrat
This indicator will number the different candle types as mentioned here: https://www.newtraderu.com/2019/02/13/what-do-we-know-to-be-true-about-price-action/
The Moving Average period in the configuration is used to determine which side of the candle the 1 and 3 candles are displayed.
I recommend importing the .ITF in order to load the variables, but for those interested here is the code:
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//Spacing = 3 //Tollerance = 0 //MovingAverage = 40 InsideBar = high < high[1]-tollerance*pointsize and low > low[1]+tollerance*pointsize OutsideBar = high > high[1]+tollerance*pointsize and low < low[1]-tollerance*pointsize TwoUp = high > high[1]+tollerance*pointsize and low > low[1]+tollerance*pointsize TwoDown = low < low[1]-tollerance*pointsize and high < high[1]-tollerance*pointsize Up = close > open+tollerance*pointsize Down = close < Open-tollerance*pointsize If TwoUp Then drawtext("2↑",barindex,low-spacing*pointsize,dialog,standard,12) coloured(0,255,0) ElsIf TwoDown Then drawtext("2↓",barindex,high+spacing*pointsize,dialog,standard,12) coloured(255,0,0) ElsIf InsideBar Then If low > Average[MovingAverage](close) Then drawtext("1",barindex,low-spacing*pointsize,dialog,standard,12) coloured(255,165,0) Else drawtext("1",barindex,high+spacing*pointsize,dialog,standard,12) coloured(255,165,0) EndIf ElsIf OutsideBar Then If low > Average[MovingAverage](close) Then drawtext("3",barindex,low-spacing*pointsize,dialog,standard,12) coloured(0,0,255) Else drawtext("3",barindex,high+spacing*pointsize,dialog,standard,12) coloured(0,0,255) EndIf EndIf Return |
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Hi,
Thank you for sharing your work with us.
I have loaded the ITF file but I have an error message asking to define the Movingaverage, spacing and tolerance.
Would you know how to sort that out ?
Strange that the ITF file did not import the parameters. You can either add the parameter yourself or simply uncomment line 1-3 (by removing the //).
Spacing = 3
Tollerance = 0
MovingAverage = 40
Hi JuanJ, just a question about the tollerance*pointsize. I know what it is/what it does (in theory). I just want to know your thoughts about it/how important you’ve found it to be. Any thoughts on how you set it with what you do?
Hi I am looking to number bars in a chart to ease analysis. Any idea if a program has been developped? Thanks.
Hi guys just copied the code but I keep getting an error message:
“Line 15 one of the following characters will be more suitable than “DRAWTEXT”:ENDIF”.
I tried making the changes several times but keep getting the same error message!
Does anyone has the correct code? Thanks