Candlestick Patterns Using Single Candle Template?
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I wasn't able to get candlestick patterns to work in testing environment. Is there another way to create candlestick patterns? Single candle template does work but I don't know how to group several of them together to form candlestick pattern.
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Oops, there was a problem with "Candlestick pattern" block, it refuses to pass... but now it works. Well, it is still kind a complex
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ok great, it's complex but does everything function correctly? I understand the different parameters so I'll try it again.
I tried to recreate candlestick pattern using single candle templates, I think it works like this: single candle template - bull [bar 0], single candle template - bull [bar 1], single candle template - bull [bar 2]...
Thanks.
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With Candlestick Pattern in relative mode all candles depends on the oldest candle (the one on the left). Don't use this block for a single candle.
With Single candle template every candle is independent. -
Why does it* not detect candles with small base and long upper wick? Screenshot attached.
*http://fxdreema.com/shared/MA9FmNonb
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candlestick patterns.gif -
Don't use "Candlestick pattern" block in relative mode for a single candle, and even for absolute mode, it's not suitable for 1 candle only. Use "Single candle template" instead.
By the way, your "Low" is too tight - 0 +/-0 - in other words you want your lower wick to be... to not exists at all. But again, I doubt if it will work...
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ok, can you please share an example? I tried with two candles in pattern but I still can't get it to recognize the candle on the left (hammer with no lower wick). What does checking/unchecking the "high", "body" and "low" boxes do?
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I really recommend using "Single candle template" for a single candle. "Candlestick Pattern" is not as simple as it seems, and it's not for a single candle! It is to detect certain candle's points (open, high, low, close) of number of candles in relation to the oldest candle. Again, for single candle better use "Single candle template".
If for example "Low" is turned off, then you don't care where the low is located, in other words candle's lower wick can be any size, you just don't care. +/- are for tolerance - you tell that you want to find candle's low in this area. You can even turn off one of these limits - scroll down it's value below 0 and it will become "off". And again, everything depends on the oldest (most left, or the only one) candle on this picture, and expecially it's open price and body size. But to understand it better, I can recommend you to look at the source code generated from this block. It's a little bit hard for me to explain how it works, but I think the code speaks for itself.
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ok, thanks for the information. I'll have a look at the source code. Just to clarify, is it possible to specify zero wick?
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It is, but I don't think you can easily find candle where Low is exactly the same as Open (or Close in case of bear), and if you find... the chance to be hammer is even smaller.
Wow, now I looked into the code of this block and I'm not sure that you will understand something
To be honest, I have difficulties to understand this block as well -
hi, for single candle template the "from" and "to" wick sizes are percentages relative to body size instead of absolute values but what if I don't care about body size but I want to have certain proportions for wicks. For example, what would an ea look like that draws an arrow for "tweezer" candlestick pattern?
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Candle = 1 candle, not more
Candlestick = 2, 3 or more candles"Single candle template" - as it's name shows, it is to be used for a single candle
"Candlestick pattern" - useful for candlesticks - 2, 3 or more candles in a rowhttp://fxdreema.com/shared/mFM2obdBb
but don't expect too many matches. This checks candles with ID 1 and 2 (because Pattern Offset is 1). Make wicks with greather tolerance for more matches. Additional filters are needed to detect downtrend/uptrend situations. -
so candlestick patterns block does work?! that's beautiful - thanks!! The example answers a lot of questions about how the block works (a picture is worth a thousand words
I'll play around with it and let you know if I have any other questions. -
According to ea (link below), wick size should be 100% of body size +50/-10 (at least 90% of body size) but results are showing candles with zero or close to zero wicks. screenshot attached.
http://fxdreema.com/shared/rDA8pNDOd
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upper wick size.gif -
But the body size is almost free to be any size. Better use 100 +0/-0 for the oldest candle. "Candlestick pattern" matches all points in relation to the oldest candle's Open price, this is the base point from which the position of all the other points are calculated. Basically you define a zone where you can find some point, for example High point of X'th candle, and this point is related to the oldest candle's Open price. If that zone is open (+/- values are off), then that point does not matter, it can be anywhere. I don't even know how to explain this
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Ok I set body offsets to +0/-0 but how do you set ea to detect only candles with tops aligned? screenshot attached
http://fxdreema.com/shared/Aoefn4Ktc
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tops aligned.gif -
"Candlestick pattern" checks all the points (Open, High, Low, Close) in relation to the oldest candle's Open price. It can't check only this - if High[1] ~ High[2]. Additional check is needed for this: http://fxdreema.com/shared/tECRAfxBb
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Can you create an option to determine the size of a body or wick by percentage? ..
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If you ask for "Candlestick pattern", it's not very likely for me to update it. But there is that Relative mode where things are in %.
If you ask for "Single candle template", there are % options for wicks already. About the body size... it's the difference between the total size and size of the wicks, but I can think about the body size.
