Basing Candlesticks

Enivid

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Nov 30, 2008
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Odessa
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As basing candles indicate a period of indecision they can be used for breakout trading, trend reversal spotting, and exiting trades. However, it is a weak indicator - it shouldn't be used as the sole signal for entering or exiting positions.
 
Apr 17, 2020
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Hi!

First of all, thanks for sharing this indicator!

The question i have is the following:
Is it possible in mql4 to send alerts for the basing candle only, if a basing candle is formed in a definded rectangle?

For example:
I draw a red rectangle as my trading zone where i want to look for entry signals. And i only want alerts of the forming of a basing candle in this zone.
Especially, is mql4 able to differentiate if rectangle is red or green?

I don't know if it's hard to code or if you have the time to code this, but of course i will pay for your work.

Thanks in advance for your answer!
 

Enivid

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Nov 30, 2008
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Currently, the Basing Candlesticks indicator cannot do that. But this can definitely be coded. However, if you expect me to do this, consider the waiting time of about 6-12 months. You may be better off hiring someone to do that modification for you.
 
Apr 17, 2020
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Currently, the Basing Candlesticks indicator cannot do that. But this can definitely be coded. However, if you expect me to do this, consider the waiting time of about 6-12 months. You may be better off hiring someone to do that modification for you.
Many thanks for your prompt reply ✌

I will look if I can find someone.
 

pkartaaa85

Trader
Oct 11, 2020
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I tried but star should be above the candle high and need different color for up and down candle ...can you guide me
 

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Enivid

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Odessa
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The arrow position is in the O[] buffer. Change O[i] = Open[i]; to O[i] = High[i] + <some number of pips>; and it will move to above the candle. For different colors, you either use two separate indicator buffers and plots or you rewrite it from DRAW_ARROW to DRAW_COLOR_ARROW and use a color buffer.
 
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pkartaaa85

Trader
Oct 11, 2020
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The arrow position is in the O[] buffer. Change O[i] = Open[i]; to O[i] = High[i] + <some number of pips>; and it will move to above the candle. For different colors, you either use two separate indicator buffers and plots or you rewrite it from DRAW_ARROW to DRAW_COLOR_ARROW and use a color buffer.
Thanks will try and come back..