Largest Bar?

[saintalan]

Hi, no not looking for somewhere for us all to meet for a drink

Does anyone know of an Indi that identifies the Largest Bar/Candle i.e. Hi to Lo in the last n periods?

Could either mark it or just display the number of pips in said bar.

Cheers

Alan

[Bruster400]

Simple enough, here you go.

Whilst this was a 10min task, don't forget though that if you're looking for help, the expected format for a request such as this is something like this:

• - Explain the reason you need it - what does it represent - S&R / Trend / Entry / Exit / interaction with other indicators etc.
  - Give some evidence of it being useful - how long have you used it, what testing have you done
  - What testing are you planning to do once you've got it. Will you feed back your results.

I'm not picking you out in particular, this is just a general reminder to anyone reading this thread.

Bruster

[saintalan]

Many thanks Bruster!

That's very kind of you, I hadn't expected it and certainly was only asking if one existed as I hadn't gone through the full forethought.

It is just an idea I have had for a while so when I get chance to try it out I will share, not something that hasn't probably been thought of before

Cheers

Alan

[traderx4]

Thanks for developing this Indicator.
I have been after something like this for quite some time.

My strategy in using it is:

1: place it on a 15-minute chart
2: Make the lookback 164
3: trade the range of the largest candle
4: Wait for breakout when it happens (wait for pullback to Level)
then trade the continuation.

Regards

[Bruster400]

I'm not sure this is the right place for this but I haven't got time to run a thread so I'll put it here and hope it gets seen.

I wanted to share a very simple system that I've added to my manual trading with success. I am a trend trader with the view that you have to first establish the prevailing "trend" and then you take little bites out of that trend using an appropriate entry and risk management. Sounds simple enough.....

The Price of a pair moves because of supply and demand for those particular currencies - fact. Every transaction is between a seller coming to the market wanting to sell at a particular price (Ask or Offer) and a buyer coming to the market wanting to buy at a particular price (Bid). If prices are moving it's because the sellers AND the buyers have agreed that they are happy to transact at that new price. When price jumps it's simply because there are very few people(or computers) prepared to transact at the current level. For whatever reason, they have changed their minds about the value of the pair and have moved their Bids and Offers to a different price.

It's that mechanics of the market that has caused me to be interested in big bars. By highlighting bars that are bigger than a previous period of time, this indicator attempts to spot the times when these decisive changes of opinion occur. By spotting when price has moved more than "normal", this indicator highlights the prices (levels) at which the market either changed its mind - or made its mind up! It marks the moment that another price level became significantly more attractive to buyers and sellers than the current one and the key to breakout entries is finding significant levels.

That's a lot of waffle for a very simple indi so I'll just leave it here with the attached picture which gives a little detail of how I use it. Note: This picture is just an example and I've marked the trades on with boxes to make them easy to see - the indi doesn't paint those! I watch other levels too and have other entry systems as well but I wanted a nice clean chart for this example.

Enjoy

Bruster.

2018-10-18_1116.png

My_BigBars.mq4

EDIT:

This is a second version that uses ATR to find the recent range and then bars have to be bigger than this by an factor (ATRFactor). This second indi also tracks a longer period ATR and bars have to be bigger than this by a factor (MinLongATRFactor). This minimum height prevents bars being picked out as big just because they are big relative to a short period of consolidation. I've also enabled the line buffer to be set in ATR rather than points as this allows the same settings to be used across multiple pairs with a similar gap proportionally.

My_BigBars2.mq4

[traderx4]

Hey Thanks,
I'll give it a bash.. See how we go.
Any special settings you're using or just defaults?

[Bruster400]

Hey Thanks,
I'll give it a bash.. See how we go.
Any special settings you're using or just defaults?

I've used a lookback of 24 on the H1 chart predominantly. The ATR version is loaded with my settings as defaults but I haven't backtested these. I only coded the ATR version today as it's something I've been looking at making a change to.

[traderx4]

"Oh ok, Thanks."
Let's put it under test and see how it performs.

[traderx4]

Any Chance you can do a MTF Version of this?
What I'd like to do is have for instance is have weekly Large Candles (or the lines from a Hourly,Daily, weekly)
chart on a smaller time frame chart.

Hope it's not too difficult.

Cheers
:hi:

[billv]

Hey Bruster400
Any updates to Mybigbar2?