• From: Sakhalin Island
  • Registered: 2009-04-04
  • Posts: 6

Topic: Filtering out abnormal signal candles

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?

  • Popov
  • Popov
  • Lead Developer
  • Offline
  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 7,885

Re: Filtering out abnormal signal candles

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.

Popov's Website

  • From: Sakhalin Island
  • Registered: 2009-04-04
  • Posts: 6

Re: Filtering out abnormal signal candles

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