Defining Candlestick Body & Shadows

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Defining Candlestick Body & Shadows

Postby rjay » Wed Jan 29, 2014 9:50 am

I'm currently reading Steve Palmquist's 'Money-Making Candlestick Patterns' and trying to program some of his ideas.

I already downloaded the Candlesticks SSE from the forum and am using the actual code from the Custom Formula Setup as my starting point.

What I'm struggling with is how to calculate the body size and shadow size, so that I can (for example) say todays body must be greater than yesterdays, or todays shadow must be at least 5% of the days range.
rjay
 
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Re: Defining Candlestick Body & Shadows

Postby Overload » Wed Jan 29, 2014 1:42 pm

In the past, I have just created the percentage difference between the different points in the candle: high-low, high-open, close-low, etc.

Pete
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Re: Defining Candlestick Body & Shadows

Postby rjay » Thu Jan 30, 2014 10:35 am

But often times, if you want to measure body, etc., it could be an up or down day. So If I wanted to measure the body that would be open - close on a down day or close - open on an up day. I don't know how to code that 'OR' ... or is there some kind of 'larger' function to determine which is larger (o-c or c-o) and then use that value as the basis for the next calculation ?
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Re: Defining Candlestick Body & Shadows

Postby Overload » Thu Jan 30, 2014 1:20 pm

That's probably a good scenario for the absolute value:

abs(c - o)

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