Author Topic: 2 minute candle option for # of up and down candles  (Read 5822 times)

Barrie Einarson

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2 minute candle option for # of up and down candles
« on: May 27, 2010, 02:31:12 pm »
Hi, I work 99% of the time with 2 minute candles - could you add that time frame to the UP and DOWN candles in the Window Specific Filters.

Thx

TradeIdeas_DA

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Re: 2 minute candle option for # of up and down candles
« Reply #1 on: May 27, 2010, 02:54:28 pm »
Thanks for the suggestion.  We'll log it .
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Barrie Einarson

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Re: 2 minute candle option for # of up and down candles
« Reply #2 on: May 27, 2010, 03:37:57 pm »
Actually, I may have answered my question using the red and green reversals and stipulating the # of candles up or down before the reversal.  However, what I'd like to be able to add to that is another "AND" function.  Many times on that alert, yes there might be 5 or 6 candles going in one direction but the range is so small that it's really not worth looking at imo.  So what I'd really like to be able to do is to say:  Alert me when there are X number of candles going in one direction AND up or down Y%. 

TradeIdeas_DA

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Re: 2 minute candle option for # of up and down candles
« Reply #3 on: May 28, 2010, 12:41:00 pm »
Ok. Understood. We are still in development only (with no estimate of when) of what we call cascading alerts - the AND feature you mentioned.  Again no idea of when.
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braddoubleu

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Re: 2 minute candle option for # of up and down candles
« Reply #4 on: June 10, 2010, 01:02:24 am »
You can specify the 6 required candles in the alert specific filter for the green or red bar reversal AND you can add a window specific filter like how much the stock has moved in a 15 minute period of time or a 15 minute range minimum.
http://www.trade-ideas.com/Help.html#WSF_MinDUp15
http://www.trade-ideas.com/Help.html#WSF_MinRange15

Barrie Einarson

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Re: 2 minute candle option for # of up and down candles
« Reply #5 on: June 10, 2010, 08:58:44 am »
Excellent guys, thanks you very much

braddoubleu

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Re: 2 minute candle option for # of up and down candles
« Reply #6 on: June 10, 2010, 02:13:41 pm »
You are welcome. 

Another filter I like to use along with the GBR and RBR is the proximity to its various moving averages depending on the time-frames you use.
http://www.trade-ideas.com/ProductHelp.html#WSF_Min5SmaLa20

Use the Collaboration feature look at the following strategy. 

http://www.trade-ideas.com/View.php?O=8000000000000000000000000000000000000000002000000000000_1D_0&QRBR5=5&Min5SmaLa20=0.5&MinPrice=2&MinUp5=5&MinVol=300000&WN=%3e%3d+5+GREEN+5min+candles+followed+by+a+RED+candle%3b+%3e1%25+from+20+period+5min+SMA

I have made the Red Bar Reversal alert using a combination of filters that ensure there have been X number of consecutive up candles plus a 5 min low alert.  The difference is the timeliness of the signal.  If I was using the RBR or GBR alerts, my alert window would update at the end of a 5 minute candle... only once the candle has been completely built - every 5 minutes and not in between.  By using the 5 minute low alert coupled with the consecutive candle filter (5min), I am alerted as soon as the stock price crosses below the low of the previous candle.  The downside of this method is that inevitably, the candle may turn out to be another up candle before the 5 minutes candle is finished.


Barrie Einarson

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Re: 2 minute candle option for # of up and down candles
« Reply #7 on: June 10, 2010, 07:40:30 pm »
Well you know what I'm going to ask you for - a 2 minute low/high candle alert - am I the only one who works with 2 minute candles lol.

Thank you for the strategy.