ms-Сandle. Candle direction indicator, gaps in quotes. – indicator MetaTrader 5
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Comparison of Open and Close prices often does not give a correct assessment of the direction of the candle.
The indicator determines the direction of the bar based not only on the Open/Close prices.
Gaps and gaps in quotes are also determined.
Comparison of Open and Close prices often does not give a correct assessment of the direction of the candle.
They can build, if the body is more than 2/3 of its size in other cases
a different approach in assessing. The indicator implements the author’s empirical approach to this problem.
During the indicator calculation, some statistical characteristics are evaluated
a number of quotations. The results described structure TCandlesStats. Boundary values are calculated
the sizes of the minimum and maximum candles, as well as the approximate size of the “average” or
“normal” candles. The assessment is carried out as the height of the candle and the height of its body.
The calculation results are displayed in the terminal log. The calculation is performed on a fixed size
data window and is repeated when passing at least 1/3 of its size.
This ensures that the results are up to date at the time of calculation.
The estimate of the gap in quotes (large gap) uses the size of the maximum candle from the statistical estimate.
It would be more correct to use the price deviation channel and the Open price going beyond it.
However, the correct definition of this channel is much more difficult.
When calculating the indicator, TCandleInfo structure is calculated for each bar.
The meaning of the fields in it is clear from the comments. The calculation is implemented as a macro.
The chart shows information about the direction of bars and gaps in quotes.
You can turn off the direction display.
You can only display the adjusted direction of the candlesticks.
Gaps can be filtered by their size. Gaps in quotes are always shown.
Icon by value Low – candle down (red), Hi-up (yellow).
Double arrow-gap. Scissors – the gap in the price (big gap).
The location of the gap icons is the final (by the time) direction of the price movement on it.
Changes in versions:
1.01 fixed the algorithm for estimating the directions, changed the structure TCandleInfo.
1.02 fixed the display of the direction of candles on 0 bar.
1.03 fixed GetSomeStats function for correct calculation on any shift bar
1.04 added forced to clean up ALL the buffers drawing. In MT5 information about gaps was drawn on each bar)))
1.05 added the ability to show gaps with the size calculated automatically
1.06 In the algorithm for estimating the directions imposed normalization size max candles, expanded structure TCandleInfo.
(The algorithm is aligned with what is used in the ms-Candle-Index indicator).
Evaluation of stat characteristics is performed for the entire history with the passage of at least 1/3 of the size
data Windows that allows you to get up-to-date results on deep history.
1.07 corrected description. Minor changes.
