Lower tf suggestions of consilidation

Machinelearning122 · 2020-08-13T16:34:36+00:00

Hi, I am a new member of this forum. And hopefully I can get some help from you guys. I have several lower tf bot mostly 3-5min. I need some suggestions for them to not take any trends in big consilidation, like this one today as it has consilidate for ~3 days. I want the bots to not take trades at all or keep the position until we have a break out. What do you think is best for this? Bollinger bands? Or ichimoku with chikou (lagging span). What is your suggestions? Do you have any finished codes I can put in and optimize? Thank you!

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08/13/2020 at 5:34 PM #141533 quote

Machinelearning122
Participant

New

Hi, I am a new member of this forum. And hopefully I can get some help from you guys.

I have several lower tf bot mostly 3-5min. I need some suggestions for them to not take any trends in big consilidation, like this one today as it has consilidate for ~3 days.

I want the bots to not take trades at all or keep the position until we have a break out.

What do you think is best for this? Bollinger bands? Or ichimoku with chikou (lagging span).

What is your suggestions? Do you have any finished codes I can put in and optimize?

Thank you!

09/25/2020 at 4:06 PM #145415 quote
robertogozzi
Moderator

Legend
The simplest way is to assume there’s a range going on when the difference from the highest to the lowest prices, in the last N bars, does not exceeds X pips:
```
N       = 50
X       = 30 * pipsize
MyHI    = highest[N](high)
MyLO    = lowest[N](low)
IsRange = (MyHI - MyLO) <= X
```
other ways:
- two MA’s cross multiple times within the last N bars
- Adx
- Bollinger Bans (or just one of them) sit inside the Keltner Channel
you can surely find more.

paisantrader thanked this post
09/25/2020 at 4:24 PM #145417 quote

GraHal
Participant

Legend

Above code added as Log 241 to here

Snippet Link Library

robertogozzi, paisantrader and Monochrome thanked this post

09/26/2020 at 8:41 AM #145438 quote

Vonasi
Moderator

Master

Also consider using the average MAE and MFE (distance between open and high and distance between open and low) in the last x candles. If it is below a longer term average of it or falling consistently then the market is consolidating/going sideways/less volatile.
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