Coder MT4

[counter_violent]

Any chance someone could code this for MT4.

In mt4 we have standard options to display price...... bar, candle and line charts.

What I would like is to turn a candle chart into..wickless candles chart indicator..... so I can overlay line chart option over it.

Anyone up for it?

cheers cv

 

[shadowninja]

Doesn't one of the Japanese indicators offer something very similar?

Or why not create a line chart from a 1 period MA?

 

[FXInternals]

You can do what you want by just changing the settings on your chart. For a black background chart:

1) Select pair and make it a candlestick chart.
2) Right click and select properties.
3) On the color tab use the following settings:
Bar Up = Black
Bar Down = Black
Bull Candle = Green
Bear Candle = Red
4) Hit OK.
5) Add a Moving Average with the following settings:
Period = 1
Shift = 0
MA Method = Simple
Apply to = Close
6) Hit OK

You should get a Open - Close candle without any wicks (they are just hidden in the black background), and a Line Chart of the close to close prices.

I have attached an image:

 

[counter_violent]

You can do what you want by just changing the settings on your chart. For a black background chart:

1) Select pair and make it a candlestick chart.
2) Right click and select properties.
3) On the color tab use the following settings:
Bar Up = Black
Bar Down = Black
Bull Candle = Green
Bear Candle = Red
4) Hit OK.
5) Add a Moving Average with the following settings:
Period = 1
Shift = 0
MA Method = Simple
Apply to = Close
6) Hit OK

You should get a Open - Close candle without any wicks (they are just hidden in the black background), and a Line Chart of the close to close prices.

I have attached an image:

Yes cheers I am aware of this option. However the full price range of the candle will not be accounted for using this method.

I still need to see the complete candle range (otherwise it is meaningless) and I will use the linechart standard display overlayed.

So I think a "wickless candle (H L) indicator" would be best option.
Probably a very simple job but unfortunately I don't code.

cheers cv

 

[FXInternals]

Yes cheers I am aware of this option. However the full price range of the candle will not be accounted for using this method.

I still need to see the complete candle range (otherwise it is meaningless) and I will use the linechart standard display overlayed.

So I think a "wickless candle (H L) indicator" would be best option.
Probably a very simple job but unfortunately I don't code.

cheers cv

Yes, that is different. However it does add some complexity:

1) How would you color your candles, what is a bull candle and what is a bear candle?
2) You would lose all open / close information on the candle, do you care or have a different idea how to get that info?

 

[counter_violent]

Yes, that is different. However it does add some complexity:

1) How would you color your candles, what is a bull candle and what is a bear candle?
2) You would lose all open / close information on the candle, do you care or have a different idea how to get that info?

I think the linechart standard option would give the close plots once per candle...this would be sufficient for my needs...and the linechart obviously moves up and down the candle until it is finally closed as an indicator of where we are in the candle.

The issue of bull bear candles would probably be to use the same imputs as OHLC.

 

[Reeser]

I think the linechart standard option would give the close plots once per candle...this would be sufficient for my needs...and the linechart obviously moves up and down the candle until it is finally closed as an indicator of where we are in the candle.

The issue of bull bear candles would probably be to use the same imputs as OHLC.

Half way there. You can still see the close(very small) but you don't have the body of the open to the close. And you still have the full range of the bar. Maybe it'll help.
Cheers.