Indicator Programming Help

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I have an idea in my mind that i wish to test out,am wondering if anyone would be willing to help me out with it.


I wish to call upon ATR period 14 function,if the open - closing of the candlestick is greater than the ATR value(doesn't matter it's going up or going down,as long as the absolute value is greater than the ATR),there will be an arrow below the price.


I wish to use this as a gauge of momentum so that i know in the near term,which direction i should trade.

 

Hi, Aklight85,

If you don't mind share your idea, why not publish it to see who would be interested for this.

If you want a secret programming service, I'm providing at the right time, check it out: http://kolier.li/service/financial-programming-mt4

 
kolier:

Hi, Aklight85,

If you don't mind share your idea, why not publish it to see who would be interested for this.

If you want a secret programming service, I'm providing at the right time, check it out: http://kolier.li/service/financial-programming-mt4


I am fine with sharing the idea. I am sure most people will know a trend is born from momentum but how do we know when a momentum is really strong or when it is not strong?

What i have realized is that if there is a very strong up candle regardless of which time frame it is and the trend is up,generally the trend will last for a few hours if not a few days hence i wish to identify what is a strong candle.

I am sure most people would have heard of the squeeze trade whereby the bollinger goes inside the keltner channel however even if it moves out of the quiet zone by the time the indicator show you it would probably be 2-3 candles later. Have nobody thought of how to capture it at a much better way?

To solve this problem i thought of using ATR,if the ATR for the past 14 candles has been avg 6pips for example. I want to show an arrow below the candlestick on the price chart if the candlestick body is GREATER than the 6pips which is the ATR.

I don't know if i made it clear enough but basically the summary is the indicator will read the value of ATR be it 6pips or 20pips then it would compare with the body of the candlestick,if the body is greater than the ATR there will be an arrow to tell me that.

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