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| Added: January 24, 2007 |
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Here's the EasyLanguage code for a single function that generates candlestick
codes as described by Viktor Likhovidov in his article this month, "Coding
Candlesticks (II)." Computations for the candlestick body and upper/lower
shadows, the top and bottom thresholds for each element, and the candle code itself
are all included in this single function. This contrasts with the multiple- function
approach originally presented in Likhovidov's November 1999 STOCKS & COMMODITIES
article on coding candlesticks.
This EasyLanguage code is written without any calls to the "Iff"
function to keep it simple, and the Bollinger Band length and number of deviations
are surfaced as inputs to the function so that the user can experiment with
different values of these parameters. A simple indicator that plots the candle
code and its average is included. Any user-created analysis technique or strategy
can similarly call the CandleCode function.
This EasyLanguage for both the function and indicator will be available for
download at www.TradeStation.com. Look for the file "CandleCode.ELS."
-- Ramesh Dhingra, Product Manager, EasyLanguage
TradeStation Technologies, Inc. (Formerly Omega Research, Inc.)
A wholly owned subsidiary of TradeStation Group, Inc.
http://www.TradeStation.com
Code:
Typ : Function, Name : CandleCode
inputs: BBLength( numericsimple ),
{ recommended value of input: 55 }
BBNumDevs( numericsimple );
{ recommended value of input: .5 }
variables: BodyHi(0),
BodyLo(0),
Body(0),
UpperShadow(0),
LowerShadow(0),
ThBot_Body(0),
ThTop_Body(0),
ThBot_US(0),
ThTop_US(0),
ThBot_LS(0),
ThTop_LS(0),
ColorCode(0),
BodyCode(0),
USCode(0),
LSCode(0);
BodyHi = MaxList(Open, Close);
BodyLo = MinList(Open, Close);
Body = BodyHi - BodyLo;
UpperShadow = High - BodyHi;
LowerShadow = BodyLo - Low;
ThBot_Body = BollingerBand(Body, BBLength, -BBNumDevs);
ThTop_Body = BollingerBand(Body, BBLength, BBNumDevs);
ThBot_US = BollingerBand(UpperShadow, BBLength, -BBNumDevs);
ThTop_US = BollingerBand(UpperShadow, BBLength, BBNumDevs);
ThBot_LS = BollingerBand(LowerShadow, BBLength, -BBNumDevs);
ThTop_LS = BollingerBand(LowerShadow, BBLength, BBNumDevs);
if Close >= Open
then begin ColorCode = 64;
if Body = 0 then BodyCode = 0 else
if Body < ThBot_Body
then BodyCode = 16 else
if Body < ThTop_Body
then BodyCode = 32 else
BodyCode = 48; end else
begin ColorCode = 0;
if Body = 0 then BodyCode = 48 else
if Body < ThBot_Body then BodyCode = 32 else
if Body < ThTop_Body then BodyCode = 16 else
BodyCode = 0; end; if UpperShadow = 0 then
USCode = 0 else if UpperShadow < ThBot_US then
USCode = 4 else if UpperShadow < ThTop_US then
USCode = 8 else USCode = 12; if
LowerShadow = 0 then LSCode = 3 else if
LowerShadow < ThBot_LS then LSCode = 2 else if
LowerShadow < ThTop_LS then LSCode = 1 else
LSCode = 0;
CandleCode = ColorCode + BodyCode + USCode + LSCode;
Typ : Indicator, Name : Candle Code
inputs: BBLength(55),
BBNumDevs(.5),
AvgLength(9);
variables:
CCode(0);
CCode = CandleCode(BBLength, BBNumDevs);
Plot1(CCode, "CCode");
Plot2(Average(CCode, AvgLength), "CCodeAvg");
Code to difficult? Find somebody to help you with coding here.
Author: Viktor Likhovidov
Source: http://www.traders.com
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