Average Body Size of last X Candles

• 06/11/2018 at 12:29 PM #72872
  Alberto Lucchese

  Hello everyone,

  As far as I understand the average[X] function will take the average of the X last bars, including the current one. So i need to create a simple indicator that will provide the average body size of the last N bars. I created the following code but the result is always 1, any thoughts (“Bars” is an indicator variable, an integer)?

  FOR i = 1 TO Bars DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Bars Return avbody as "Average Body Size"

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  FOR i = 1 TO Bars DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Bars Return avbody as "Average Body Size"

  Thanks

   

  

  Alberto Lucchese

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  06/11/2018 at 12:56 PM #72876
  Nicolas

  You must define “Bars”, otherwise your loop will not start to count.

  How to make loop in ProRealTime is a part of the advanced training program.

  About your indicator, you’ll get the same result with just:

  Bars = 10 a = average[Bars](range) return a

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  Bars = 10 a = average[Bars](range)   return a

   

   

  

  Nicolas

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  06/11/2018 at 1:01 PM #72877
  Vonasi

  Try this:

  bars = 6 IF BarIndex > bars then FOR i = 1 TO Bars DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Bars ENDIF Return avbody as "Average Body Size"

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  bars = 6   IF BarIndex > bars then FOR i = 1 TO Bars DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Bars ENDIF   Return avbody as "Average Body Size"

   

   

   

  

  Vonasi

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  06/11/2018 at 1:23 PM #72880
  Vonasi

  Nicolas – he wants it based on body size not range so he would need:

  Bars = 10 a = average[Bars](abs(close-open)) return a

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  Bars = 10 a = average[Bars](abs(close-open)) return a

  But he also does not want to include the current forming bar in the calculation which this would do.

  

  Vonasi

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  06/11/2018 at 1:27 PM #72881
  Vonasi

  You could also turn the idea into an indicator that shows you when the current bar is larger than the average of the last n bars not including this one and present it as a histogram with red for down bars and green for up bars and bar size based on body size like this:

  Period = 24 IF BarIndex > Period then FOR i = 1 TO Period DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Period ENDIF Flag = 0 IF abs(open-close) > avbody and close > open then Flag = close - open R = 0 G = 128 ENDIF IF abs(open-close) > avbody and close < open then Flag = close - open R = 128 G = 0 ENDIF Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

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  Period = 24   IF BarIndex > Period then FOR i = 1 TO Period DO avbody=avbody+abs(open[i]-close[i]) NEXT avbody=avbody/Period ENDIF   Flag = 0   IF abs(open-close) > avbody and close > open then Flag = close - open R = 0 G = 128 ENDIF   IF abs(open-close) > avbody and close < open then Flag = close - open R = 128 G = 0 ENDIF     Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

   

  

  Vonasi

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  06/11/2018 at 1:33 PM #72882
  robertogozzi

  Bars = 10 a = average[Bars](abs(close-open)) return a[1]

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  Bars = 10 a = average[Bars](abs(close-open)) return a[1]

  This should do for n bars BEFORE the current one, nevertheless it’ll be displayed under the CURRENT forming bar! (it is shifted)

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  Alberto Lucchese

  

  robertogozzi

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  06/11/2018 at 1:48 PM #72884
  Vonasi

  Thanks for that Robertogozzi. Sometimes it is difficult to see the really simple answer even when it is staring you in the face!

  That would also mean that my histogram indicator becomes this and has the benefit of drawing much faster:

  Period = 24 avbody = average[period](abs(close-open)) Flag = 0 IF abs(open-close) > avbody[1] and close > open then Flag = close - open R = 0 G = 128 ENDIF IF abs(open-close) > avbody[1] and close < open then Flag = close - open R = 128 G = 0 ENDIF Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

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  Period = 24   avbody = average[period](abs(close-open))   Flag = 0   IF abs(open-close) > avbody[1] and close > open then Flag = close - open R = 0 G = 128 ENDIF   IF abs(open-close) > avbody[1] and close < open then Flag = close - open R = 128 G = 0 ENDIF   Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

   

  

  Vonasi

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  06/11/2018 at 2:07 PM #72889
  Vonasi

  In fact I think that it is better to display it as a percentage of the last n bars average range as it is more bounded.

  Here’s the adapted code:

  avbody = average[period](abs(close-open)) Flag = 0 IF abs(open-close) > avbody[1] and close > open then Flag = ((close - open)/avbody[1])*100 R = 0 G = 128 ENDIF IF abs(open-close) > avbody[1] and close < open then Flag = 0-(((open - close)/(avbody[1]))*100) R = 128 G = 0 ENDIF Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

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  avbody = average[period](abs(close-open))   Flag = 0   IF abs(open-close) > avbody[1] and close > open then Flag = ((close - open)/avbody[1])*100 R = 0 G = 128 ENDIF   IF abs(open-close) > avbody[1] and close < open then Flag = 0-(((open - close)/(avbody[1]))*100) R = 128 G = 0 ENDIF   Return Flag coloured(R,G,0) Style(histogram, 2) as " Over Average Body Size"

   

  

  Vonasi

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  06/11/2018 at 2:55 PM #72899
  Alberto Lucchese

  Thank you all,

  you are right, the answer was simple than i thought!

  

  Alberto Lucchese

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  06/12/2018 at 9:51 AM #72968
  Vonasi

  Since you posted this question I have been playing around with looking for candles that have a larger range than n candles before and larger body size than n candles before as interesting times to be in the market (good volatility) and so I came up with this indicator that counts back to see how long it is since a candle with the current range and size of body was last seen.

  I thought that I would post it here in case it is of any interest to anybody.

  You can set the minimum period that you wish the count back to start from and also the maximum period to count back.

  The result is returned in a histogram with down red candles if the close was lower than the open and green up candles if it was higher than the open. Hover over the candle and the size represents the number of candles since one with a body size and range bigger was last seen.

  MinPeriod = 10 MaxPeriod = 500 Qty = 0 R = 0 G = 128 For numcandles = MinPeriod to MaxPeriod Body = abs(close - open) LargestBody = (Body = highest[NumCandles](Body)) Rnge = abs(High - Low) LargestRange = (Rnge = highest[NumCandles](Rnge)) IF Largestrange and Largestbody then Qty = numcandles ENDIF NEXT IF close < open then Qty = 0 - Qty R = 128 G = 0 endif Return Qty coloured(R,G,0) Style(Histogram,2) as "Big Range and Body"

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  MinPeriod = 10 MaxPeriod = 500   Qty = 0 R = 0 G = 128   For numcandles = MinPeriod to MaxPeriod Body = abs(close - open) LargestBody = (Body = highest[NumCandles](Body))   Rnge = abs(High - Low) LargestRange = (Rnge = highest[NumCandles](Rnge))   IF Largestrange and Largestbody then Qty = numcandles ENDIF NEXT   IF close < open then Qty = 0 - Qty R = 128 G = 0 endif   Return Qty coloured(R,G,0) Style(Histogram,2) as "Big Range and Body"

   

   

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  Vonasi

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  06/12/2018 at 10:01 AM #72970
  Vonasi

  Another alternative is to look for the smallest body size and range in n bars. This is a good way to see if a market is running out of momentum and maybe a turning point.

  Here is the code showing how long it is since a candle this small was last seen:

  MinPeriod = 10 MaxPeriod = 200 Qty = 0 R = 0 G = 128 For numcandles = MinPeriod to MaxPeriod Body = abs(close - open) SmallestBody = (Body = lowest[NumCandles](Body)) Rnge = abs(High - Low) SmallestRange = (Rnge = lowest[NumCandles](Rnge)) IF Smallestrange and Smallestbody then Qty = numcandles ENDIF NEXT IF close < open then Qty = 0 - Qty R = 128 G = 0 endif Return Qty coloured(R,G,0) Style(Histogram,2) as "Small Range and Body"

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  MinPeriod = 10 MaxPeriod = 200   Qty = 0 R = 0 G = 128   For numcandles = MinPeriod to MaxPeriod Body = abs(close - open) SmallestBody = (Body = lowest[NumCandles](Body))   Rnge = abs(High - Low) SmallestRange = (Rnge = lowest[NumCandles](Rnge))   IF Smallestrange and Smallestbody then Qty = numcandles ENDIF NEXT   IF close < open then Qty = 0 - Qty R = 128 G = 0 endif   Return Qty coloured(R,G,0) Style(Histogram,2) as "Small Range and Body"

   

   

  

  Vonasi

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