Units For Indicator Moves Within Limits
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What unit of measurement is being used for Upper Level & Lower Level in "Indicator moves within limits" block? I want this block to work with any chart symbol including non-currencies but at the moment I have not been able to get it working on even currencies.
Thank you
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Fixed value -> no units, it's what it is. Dynamic value -> the same story, depends on what is selected, it can be price level or any other level.
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great, I forgot about that useful options.
If you leave the fixed value ("It is what it is") - I'm still unclear about what is it? 30 & 70 - are they pips?
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No, these are 30 and 70. There are indicators that have limits like this... well, oscillators, to be correct. For example RSI.
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Is there a way to use this block to detect if candle movement of the last 10 candles is within 20 pips vertical range, then execute orange output?
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... figured it out using a variable and dynamic value but is there any use for dynamic value > pips in this block?
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No, but i think this is not what you need. Look here: http://fxdreema.com/shared/zwNkkDvob
On the left side is using that block, but it checks each candle alone for past 10 candles.
On the right side I calculate the difference between the highest and lowest value from the last 10 candles, and then I check if that difference is lower than some value (0.0010). -
nice - so it looks like those are 2 different ways of doing the same thing?
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It's not the same thing, it's similar but not the same
"Indicator moves within limits" check for N candles if the indicator is between Upper and Lower level:- candle 0: indicator[0] < upper level and indicator[0] > lower level ?
- candle 1: indicator[1] < upper level and indicator[0] > lower level ?
... - candle N: indicator[N] < upper level and indicator[N] > lower level ?
when you have candle total size instead of indicator... what you check is each one candle independently. This is not like knowing what is the highest and lowest value of all N candles.
But if you can work with timeframe x10 it will be even better and faster.
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hmmm - I remember you explained previously that fixed values are the indicator lines like 30 & 70 but in this case since we are talking about candles and presumably pips, what are the upper/lower level values?
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If they are values like 30 and 70, they are exactly that - 30 and 70.
If you work with RSI, if a single RSI value from the last N candles is lower than 30 or above 70, the block fails. The same is if andle size is used, if that candle size for that particular candle ID is lower or above the limits - the block fails. So the block will pass if all candles are small enough if you look at them as independent candles, which also means that the block will pass if you have N small candles in strong trend. Just check both methods and you will see the difference. -
ok got it so in the case of candle size upper level of 10 means 10 pips and lower level of 0 means 0 pips. If candle[n] is between 0 and 10 pips, block will pass.
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If all candles[n] are between 0 and 10 pips it will pass, if one of them fails - does not pass. But they can be only bulls forming nice uptrend and if each one is less than 10 pips the uptrend does not matter.
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ok thanks
