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Advanced custom candle indicator
http://www.dukascopy.com/swiss/english/forex/jforex/forum/viewtopic.php?f=128&t=56932
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Author:  mak [ Sat 16 Feb, 2019, 14:48 ]
Post subject:  Advanced custom candle indicator

I have a suggestion that would make customcandle indicator much more universal and applicable.

Instead of it displaying only preseted time frames, you could add option to display multiplicator of 1 candle. So.......... x times 1[chart] candle.

For example, i have opened 3 min chart and i wish to set custom candles in the backround displaying x3 candles....so 9 min chart.
We could also use this on price based chart option (range, renko, tick), making customcandle indicator truly universal and adjustable for multiple purposes, not just displaying default time frames in the backround.

One more good feature would be, adding more display style options not just "filled" candles, but also "empty" candles with different lines to choose from.

As an example i m attaching range bars chart with 5x candle overlay from mt4.

Image

Author:  Platform Support [ Thu 11 Apr, 2019, 12:00 ]
Post subject:  Re: Advanced custom candle indicator

This can be achieved currently, if you customize the period needed first and then apply it to the CUSTOMCANDLE indicator. We prefer not to complicate this feature as the period the indicator is calculated from depends on the period chosen in the chart.

Image

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Author:  mak [ Fri 16 Aug, 2019, 14:08 ]
Post subject:  Re: Advanced custom candle indicator

Perhaps i didn t express myself clearly. Yes you can do this on the normal time based charts, but you can t do the same thing on alternatives (range, renko, tick,..)

With alternative type of charts (range, renko,..) there are no choices, except for combining them with regular time based candles, like having x min customcandle overlayed on the x pip range chart.

My request was adding a feature which would enable us doing (pseudo) mtf trading on alternative type charts.

Example:

We can trade 1 min chart with 5 and 15 min candle overlayed.

We can t trade 5 pip range chart with x3 (or different multiplier of base candle) customcandle overlayed.

It s not much of a complication, all there is needed is an multiplier input option. I m using this type of charting all the time, but i have to do it via mt4. If you need examples, let me know..

Author:  Platform Support [ Tue 20 Aug, 2019, 08:38 ]
Post subject:  Re: Advanced custom candle indicator

Please provide a picture from Metatrader. It does not sound very useful.

Author:  mak [ Thu 22 Aug, 2019, 11:50 ]
Post subject:  Re: Advanced custom candle indicator

Platform Support wrote:
Please provide a picture from Metatrader. It does not sound very useful.


No problem, if the usefulness is not clear on the chart let me know, i ll post more examples. These are renko bars, but
the indicator can be used on any price based bars and it s very simple.

Image

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