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Forex Forum → Premium Club → Indicator for identifying black and white candles

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Posts: 8

Topic: Indicator for identifying black and white candles

Hi am trying to backtest with a simple strategy given below:

if two white  candles appear above moving average - enter on next bar
exit if two black candles appear
exit if price closes below moving average..

i tried using heiken ashi white and black but it does not seem work..as in position opens even when the condition is not fulfilled(probably because its heiken ashi). is there any indicator which can be used to identfy black and white..

Re: Indicator for identifying black and white candles

Hi,
Use Candle Color for deciding bullish or bearish candle with 2 consecutive candles. Use 2 moving averages, one with signal shift in advanced properties. And use two groups for different exit logic smile Hope it helps

https://image.prntscr.com/image/pHEcDcHbTH6uxW7i0X0VIg.png

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two bars.xml 16.91 kb, 6 downloads since 2017-11-30 

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Re: Indicator for identifying black and white candles

Actually there is enough only one moving average with Signal shift 1 and Signal repeat 1 in advanced settings. It would be less complicated to optimize with lower number of variables.

https://image.prntscr.com/image/rya1jJbKTzemfmjncpZ2Kg.png

Re: Indicator for identifying black and white candles

wow that was superquick..thanks.but i dont see candle colour in my dropdown. is there a addin or soemthing that am missing..

Re: Indicator for identifying black and white candles

meaning i dont see candle colour in FXSB PRo

Re: Indicator for identifying black and white candles

Probably you need to download it from online repository.
https://image.prntscr.com/image/57DTp-rDSY_wO-k--VIjUw.png

7 (edited by Irmantas 2017-11-30 12:34:50)

Re: Indicator for identifying black and white candles

If you struggle to find that page , you can get to repository tab by clicking here:
https://image.prntscr.com/image/wqCnAKz5Qwm9ccoFztmDCg.png

Re: Indicator for identifying black and white candles

Many thanks Irmantas !

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