Thursday, December 21, 2017

Three line candle scanner with RSI filter

Three line candle scanner with RSI filter


This indicator determines the following candlestick patterns (a description of the patterns look at the screenshot):



  • "Three white soldiers" (reversal>continued)

  • "Three Black Crows" (reversal>continued)

  • Bullish and bearish "triple blow" (reversal pattern)


These patterns rarely appear on the higher timeframes, if enabled in the settings strict regime. But when there are, they are very vysokoveroyatnostnye signals.


According to Thomas Bulkovskomu (internationally known author and leading expert on candle patterns), "triple punch (Three Line Strike)" has the highest overall rating of performance among all candlestick patterns.




Features



  • At the same time it keeps track of all the characters available in the "Market Watch". Attach the light to just one plan and immediately track the entire market.

  • He watches every timeframe from M1 to MN, and sends you alerts in real time when the pattern.

  • RSI can be used as a trend filter to properly identify potential reversals.


You can set the indicator, for example, on the EURUSD M5 and get an alert any symbol and timeframe of your choice.


The indicator can not be used in the strategy tester because of its multitaymfreymnyh functions. Also note that for the same reason the formation will not be displayed on the graph indicator.




Options



  • Setting a pattern "Three white soldiers" / "Three Black Crows":


    • Enable scanning: enable searching, true / false. Set to true to enable a search for these patterns.

    • First (reversal) candle's body must engulf prev. candle's body: the first body (reversal candle) must absorb the body of the previous candle, true / false. Reversal candle - the candle is the first of the three candles. If set to true, the body of the current candle has to absorb the body of the previous candle.

    • Average body-size period (0 = any size): the period for calculating the average body size, default - 12 (0 - any size). The average body size will be calculated over the last 12 bars (measured from the last bar in the formation (shift 1)). The body of each of the three candles in formation should be less than the calculated average body size.

    • Only strict formations: Only strict formation, true / false. When set to "true" the following rules apply:


      • The second candle should be larger than the body of the first candle.

      • The third (final) candle should have at least the same size as the second candle.

      • Gaps between the closing price and opening price is not allowed.


    • Max. size% of wick for 2nd and 3rd candle: the maximum size of the shadow of a candle as a percentage for the second and third candle. It is used as a simple, and in non-strict mode (see description on the screenshot). When using a strict regime recommended to set the size of the shadow percentage is not more than 10. The second and especially the third candle shall be closed near its maximum / minimum.

    • Enable RSI (on candle prior to reversal candle): include RSI, true / false. It applied to the candle before the candle in the first formation (shift 4).


  • Pattern Settings "Triple kick":


    • Enable scanning: enable searching, true / false. Set to true to enable searching of these patterns (bearish and bullish).

    • Only strict formations: Only strict formation, true / false. When set to "true" the following rules apply:


      • The bodies of each of the three candle before the candle must have pivot body size not less than the value of said parameter below.

      • The opening price is within the body of the previous candle.


    • Min. 3 line candles body size% (only used in strict mode): the minimum size of the bodies of candles as a percentage for the three candles in front of a reversal candle. For example, if the upper and lower shadows together account for 60% in any of the three candles, the body size of more than 40 do invalid pattern and the notification will not be sent. Note that this option will not apply if you set "strict" is set to false.

    • Enable RSI (on candle prior to reversal candle): include RSI, true / false. Applied to the glow plug (shift 2) before a reversal spark.




  • RSI overbought and oversold levels: Candle should be generated above / below the levels of data to be considered reliable.

  • RSI Period: RSI period. By default, 14.

  • RSI apply to price: The value for the calculation of RSI level.

  • Symbols to scan: all characters that you want to monitor. Each character must have the same form as in the "Market Watch" (as indicated by the broker), and separated by a comma and no spaces. Characters that are not in the "Market Watch" is not tracked.

  • timeframes: True for each of the monitored timeframe.

  • alerts: True for each type of the alert that you want to receive.


Three line candle scanner with RSI filter

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