Mql5官网 Extremums and Candles 外汇EA

Extremums and Candles 

          1. Description

The Extremums and Candles (EC) indicator is a custom indicator based on the visual analysis of candles. The indicator displays the direction
of price movement and extremes for the studied period of time. The EC indicator is designed according to the principle that candles inside
the next one or inside the previous one, regardless of their type and the length of their shadows, are not taken into account when determining
the direction of market movement (Figure 1).

According to the principle of constructing an indicator for a downtrend, a growing candle may not have any effect on the direction of market movement
if it is inside another candle. Similarly for an uptrend. In addition to determining the current market direction, the indicator
determines extremum points where the market changes its direction (Figure 2).

          2. Display in terminal 

Candles that are inside others are not significant, these candles are crossed out.

The candles that shape the market direction are powerful. Arrows indicate U-turns (Figure 3). The first 4 lines in the data window contain the
values of the weighted candle buffers, which are necessary for writing programs (experts). These values are tied to the price chart.
Strikethrough candles do not include an array of data. The principle of numbering candles is shown in the figure (Figure 4). The indicator
forms the values of weighted candles, and also indicates the reversals on the chart with arrows.

          3. Features

The Extremums and Candles (EC) indicator allows you to determine and use the current direction of price movement. This direction should be
determined on the charts of large periods (time frames). In younger periods (time frames), market turns should be applied, which are
indicated by arrows.

This application allows you to bring Stop Loss closer to the candle and enter the market with a smaller Stop Loss distance in points, which, with
a fixed risk in money, increases the position volume and, as a result, increases profit by 1 point in the price movement.

                                     
                              
Lot=Risk(P)/Risk($)

          4. Installation

•    The first 4 lines are not drawn;
•    4-7 – the colors of the shadow and body of a bullish candle;
•    8-11 – the colors of the shadow and body of a bear candle;
•    12-13 – colors of arrows indicating U-turns;
•    14 – strikethrough color;
•    N – number of candles for analysis, maximum 1000 (Figure 5 and 6).

          5. Principle of opening a position

Approximate order of opening positions (Figure 7):

1.     Determine the direction of trade in the older period;

2.    Expect junior reversal in the desired direction;

3.    Open a position in the selected direction by setting a brake light under (above) the 1st candle;

4.    Choose a way to exit a position:

• low back reversal;
• back reversal on an older period.

          6. Writing Experts

When programming, the above values can be obtained using the function

iCustom( ):

double VLow_0=iCustom(NULL,PERIOD_CURRENT,”EC”,0,1);

double VLow_1=iCustom(NULL,PERIOD_CURRENT,”EC”,0,2);

double VLow_2=iCustom(NULL,PERIOD_CURRENT,”EC”,0,3);

double VHigh_0=iCustom(NULL,PERIOD_CURRENT,”EC”,1,1);

double VHigh_1=iCustom(NULL,PERIOD_CURRENT,”EC”,1,2);

double VHigh_2=iCustom(NULL,PERIOD_CURRENT,”EC”,1,3);

NULL – name of the financial instrument. NULL means the current character.

PERIOD 
_ 
CURRENT – period. It may be one of the chart periods.

“ 
EC 
“– name of the custom indicator.

0 – index line indicator. May be from 0 to 3:

• 0 – prices of minimums of heavy candles (VLow[ ])
• 1 – prices of highs of heavy candles (VHigh[ ]);
• 2 – opening prices for heavy candles (VOpen[ ]);
• 3 – closing prices for heavy candles (VClose[ ]);

0 – The index of the value obtained from the indicator buffer (shift relative to the current bar by the specified
number of periods ago) corresponds to the number of the weighted candle. In this example, we got the minima and maxima of the weighted candles
under the numbers 1, 2 and 3.