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Measure BULL and BEAR candles...try this in code ?

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  • Measure BULL and BEAR candles...try this in code ?

    If some one could help/show code this in efs, it may be a good way to see how candles bars are being bullish or bearish trend.

    Bullish or Bearish Candle Patterns Average

    Definition : Measure the Range between open and close of a bar, if close is less than open ( black candle ) then range is negative, if the close is greater than the open ( white candle) then range is positive.

    If close > open then
    Range = Close – Open
    Else if Open > Close) then
    Range = (Close –Open)-*-1
    Else (ie Close = open)
    Range = 0
    End if

    Result = Average(Range, Period)

    Period would equal 5-10 bars. This function may tell whether a consolidation is turning bull break out or bear break out.

    Indicator should be shown like an oscillator, I guess you could normalise that data between 100 and 1, but I have no idea how to do that.

  • #2
    This does not plot the average, it plots the range ok, I have not idea why...there is no average.

    Any ideas
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    • #3
      Try this.

      Sorry I did not rename it.

      You had "return" instaed of "return new Array" and you where not keeping track of the Open - Closes.
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