Building a Candlestick efs

[FibbGann]

Just a heads up for any of those who may want to build an efs based on candlesticks. Here is a link that should be able to guide you through very easily.

Scroll the PCF drop down to candlesticks and it will tell you how to enter the details of candles and candle patterns into an efs for recognition. Just use their "and" as "&&" in efs format

Fibbagann

[FibbGann]

Here is a snapshot of one I am working on right now.


Fibbgann

[Guest]

Dan,

Nice Link, I took a look at it, quite good guidance on candlestick rules that can easily be translated into efs.

Regards,

[Enlighten]

I agree good link

thx fibbgann

[theplumber]

I use Wave59 with Esignals data and this is what they have, exhaustion indicators (red and blue dots) and price cycles (9-5 count) and they are done in realtime. This is the same time frame as the chart below but one is 3 minute and the other is 1 minute and both have the natal forecast.

[FibbGann]

My signals are real-time too! Although, I am always interested in anything you post.

[tiberiussk]

Hi FibbGann

That is an interesting chart , are those arrow indicators relating
to candlestick patterns ?

Dale

[shogun]

on a similar subject is it possible to build a candlestick of two daily bars , merged together so that it could be used in back test. ?

[gspiker]

Shogun,

I'm not sure what you mean by "merged togther", but if your question is: " Can I back test two bar candle patterns" the answer is yes.

FYI - I have backtested one and two bar candle patterns and was unimpressed with the results. Then again, as stated before I am not a scalper and very often these patterns reverse again in a very few bars. So if you are a shorter term player, you may like the results.

G

[shogun]

garth

what i am trying to to is see what sort of results i would get backtesting a two day bar ( instead of the daily bar) i have tried it by adding the minuets to 780 on the advanced charts but it returns the data for one day only, so i was wondering if it is possible to have a efs which can put together two daily bars and so make a new two day bar, but also i would need to be able to backtest of this,

i do not intraday trade much as the slippage & commission seem to take everything, so i am going back to swing trading 2 - 5 days just trying to get the edge over the crowd.

[gspiker]

shogun,

I think I get it. You can do it, depending...

Here is what I mean:

1) Getting the O for the first day, close for the second and using the Highest high and Lowest low of those two days: Easy

2) Backtesting on the result: easy

3) Displaying some visual on the chart to show the signal and maybe even a bit of text: easy

4) But displaying two days of data as a single bar in the PRICE window- impossible (at least currently)

5) Displaying some sort of overlay on the bars in the PRICE pane to represent what the two day candle would look like: a wee bit tricky, but not too hard. The problem would be figuring out how to do it so you don't have a really messy display.

6) displaying two days of data as a single bar in an INDICATOR pane - possible but there are limitations on what you could do with it there (Apply other indicators, etc).

Hope this helps...feel free to ask additional q's if this isn't clear or I have missed the boat.

Garth

[shogun]

garth

im glad you think it is easy , you have basically hit the nail on the head with your below post ,we will scrap 4 as that is impossible, but the rest is spot on ,the only indicator i would be looking to use currently is a moving average of the two day bars,

if it is possible to display some sort of overlay on the bars in the price pane to represent what the two day candle would look like that would be excellent even if it looked messy it would serve a visual purpose.

the question now is where do i start, ?

thanks,

[Guest]

shogun,

if it is possible to display some sort of overlay on the bars in the price pane to represent what the two day candle would look like that would be excellent even if it looked messy it would serve a visual purpose.

I remembered that Chris Kryza had generated some scripts which drew candles, and I was able to find an efs that drew them on his fileshare. Now here is a link to the efs http://share.esignal.com/groupconten...ng&groupid=114

And this is an associated screen shot:



While this is not exactly what you need, it contains the techniques required to implement what I think you want.

I also remember another efs on the BB that drew candlesticks around the smaller timeframe candlesticks. I was unable to find it, but I bet someone else may remember where it is located.

That efs (that I cannot find) may be exactly what you need. This efs is excellent and a big start though, in that it contains techniques used to draw candle shapes on the chart.

[shogun]

thanks for that steve just had a look at the efs and it looks a bit beyond my abilities to change it , i will have a look and see if i can find the other one you were on about in the forums,

[gspiker]

Steve,

I remember the one I think you are talking about, and I don't think it was candlessticks. I think it was an other indicator (like 3pt break) that someone wrote to overlay regular bars because of some of the issues in running a normal 3 pt break chart....

Wish I could remember more details, but it was a good example of overlays.

Garth