Forex Software — Filtering out abnormal signal candles

Re: Filtering out abnormal signal candles

2009-04-04T17:41:09Z

Thank you, this is great. Exactly what I need!

Re: Filtering out abnormal signal candles

2009-04-04T17:28:52Z

Try "Steady Band" indicator. It plots two bands around a central MA. The bands are a number of pips away of the central MA.

[Opening Logic Condition]
Steady Bands
The bar opens below the Upper Band
Smoothing method - Simple
Base price - Close
MA period - 20
Margin in pips - 50
Use previous bar value - Yes

This filter guarantees that the Entry Bar opens no more than 50 pips away from a MA20.
- For the long positions no higher than 50 pips from the central MA;
- For the short positions no lower than 50 pips from the central MA.

Filtering out abnormal signal candles

2009-04-04T17:21:57Z

I have another question: how do I filter out entries that may happen during a hectic market, like news?

Basically, I want to exclude signals that happen when the signal price bar closes further than "x" number of pips away from a MA. Say, we have a signal (for example, upside cross of 2 EMAs), but the signal bar closes more than 50 (or whatever) pips higher than one of the MA and there are high chances that this is just a news spike. Any way to filter this out?