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HLBar indicator
 Post subject: HLBar indicator Post rating: 0   New post Posted: Mon 02 Nov, 2015, 23:20 
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Joined: Sat 05 May, 2012, 01:28
Posts: 27
Location: IcelandIceland
This new indicator is originally based on Dukascopy`s HeikinAshi indicator code but heavily modified(do not confuse it with HLBox bar indicator I made before). It does not work as Heikin anymore. What this indicator do is to over-paint standard bars or candles with simple rectangular bars that only show highs and lows and nothing else. Advantage over other chart types is that full bar will have a same width, unlike candles that paint small wicks and unlike bars that paint single pixel rods:

Image

Advantage this can bring are then for example like this:

Image

^All I did was to add Linear Regression moving average set to lowest period 2 and "close". It exactly match line chart of same setting. If you do this with candles or bars it will not be very clear picture. Also, this type of chart lets you focus purely on price action, supply & demand or support & resistance without complicating picture when "open/close" would be involved. It also give better visual thanks to full width bars.

Source code included(new updated version in 3rd post below).


Attachments:
HLBar.zip [8.14 KiB]
Downloaded 192 times
Chart_XAU_USD_15 Mins_snapshot2.png [23.12 KiB]
Downloaded 723 times
Chart_XAU_USD_15 Mins_snapshot.png [13.93 KiB]
Downloaded 656 times
DISCLAIMER: Dukascopy Bank SA's waiver of responsability - Documents, data or information available on this webpage may be posted by third parties without Dukascopy Bank SA being obliged to make any control on their content. Anyone accessing this webpage and downloading or otherwise making use of any document, data or information found on this webpage shall do it on his/her own risks without any recourse against Dukascopy Bank SA in relation thereto or for any consequences arising to him/her or any third party from the use and/or reliance on any document, data or information found on this webpage.
 
 Post subject: Re: HLBar indicator Post rating: 0   New post Posted: Tue 15 Dec, 2015, 22:05 
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User rating: 2
Joined: Sat 05 May, 2012, 01:28
Posts: 27
Location: IcelandIceland
I further enhanced the code. Now 2 colors can be set, one for open/close range and other for high/low range. It can effectively be used as candlesticks where "wicks" have a same width.

Image
Image

You can still use it as before of course, if you set same color for both. (Download updated version from the next post below.)


Attachments:
Chart_AUD_USD_4 Hours_snapshot.jpg [143.4 KiB]
Downloaded 649 times
Chart_AUD_USD_4 Hours_snapshot2.jpg [119.23 KiB]
Downloaded 601 times
Chart_AUD_USD_4 Hours_snapshot.png [21.14 KiB]
Downloaded 407 times
Chart_AUD_USD_4 Hours_snapshot2.png [24.33 KiB]
Downloaded 410 times
DISCLAIMER: Dukascopy Bank SA's waiver of responsability - Documents, data or information available on this webpage may be posted by third parties without Dukascopy Bank SA being obliged to make any control on their content. Anyone accessing this webpage and downloading or otherwise making use of any document, data or information found on this webpage shall do it on his/her own risks without any recourse against Dukascopy Bank SA in relation thereto or for any consequences arising to him/her or any third party from the use and/or reliance on any document, data or information found on this webpage.
 
 Post subject: Re: HLBar indicator Post rating: 0   New post Posted: Sun 24 Jan, 2016, 23:28 
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User rating: 2
Joined: Sat 05 May, 2012, 01:28
Posts: 27
Location: IcelandIceland
Here is the updated code of new version. More display options etc.


Attachments:
HLBar2.zip [10.4 KiB]
Downloaded 180 times
DISCLAIMER: Dukascopy Bank SA's waiver of responsability - Documents, data or information available on this webpage may be posted by third parties without Dukascopy Bank SA being obliged to make any control on their content. Anyone accessing this webpage and downloading or otherwise making use of any document, data or information found on this webpage shall do it on his/her own risks without any recourse against Dukascopy Bank SA in relation thereto or for any consequences arising to him/her or any third party from the use and/or reliance on any document, data or information found on this webpage.
 

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