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3-Candle Chart

by Dr.Hamdi Boukamcha
Name:
3-Candle Chart
Author: Carib58 (2011.05.17 10:52)
Rating: 9
Downloaded: 6470
Download:
3-Candle Chart   01-SB_3-Candle-Chart.mq4 (11.2 Kb) View

Author:

I am not aware of other similar type of chart. However, please let me know if I am infringing on someone else work.

Description:

I wanted to find out if there was useful information to be displayed from the London open to the New York Close.

It is made of 3 candles per trading day:

– London Open to New York Open

– New York Open to London Close (Power hours)

– London Close to New York Close

I also added a “funny” number to offset the chart itself. See below. Any suggestions welcome.

Image:

3-Candle Chart

Recommendations:

  • Works only on 1 hour timeframe
  • Timeoffset variable is the offset (in hours) between GMT and your MT4 Broker’s time
  • SBnumber variable is a funny number used to offset the whole group of candlesticks. It gives sometime surprising results.
  • Displays better on a line chart

Very good idea! Thank you for sharing your indicator.

I presume the figures on chart mean the days of the trading week, starting with 1 = Monday, etc.

Keep up the great work!

04.06.2011 18:18 A1Cruiser

toddanderson:
Did you ever look at making session candles like a jpy session, london session and newyork session candles

Thank you for your indicator

No, but I will try this weekend. Many thanks for the comment.

20.05.2011 20:10 Carib58

Did you ever look at making session candles like a jpy session, london session and newyork session candles

Thank you for your indicator

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