Higher Highs, Higher Lows & Lower Highs, Lower Lows Candlestick Alerts

Discussion in 'Ask A Question' started by Customer Questions, Apr 22, 2016.

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  1. Customer Questions

    Customer Questions John @ timetotrade

    Hi, I'm trying to create 2 alerts:

    1. (Candle has HH,& HL, & Larger range than previous candle) & close > open.
    2. (Candle has LH & LL & Larger range than previous candle) & open > close

    Are you able to advise how?

    Cheers
     

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  2. Customer Care

    Customer Care John @ timetotrade

    Hi. To compare the value of the current candle to a candle in the past, use the PAST indicator. The PAST indicator can be used to reference price or technical analysis values for any candle in the past, as illustrated:

    [​IMG]

    To create the first alert the triggers that will be used are:
    • HIGH ABOVE PAST(HIGH, 1)
    • LOW ABOVE PAST(LOW, 1)
    • SHADOW ABOVE PAST(SHADOW, 1)
    • CLOSE ABOVE OPEN
    Where the shadow in the range of the candle i.e. the HIGH LOW price range. To create the second alert, using the following triggers:
    • HIGH BELOW PAST(HIGH, 1)
    • LOW BELOW PAST(LOW, 1)
    • SHADOW ABOVE PAST(SHADOW, 1)
    • OPEN ABOVE CLOSE

    GROUP the alert triggers with 1 second allowed to elapse between all trigger conditions being evaluated as true, as the requirement is for all trigger conditions to be be true at the same time. As an example, the following screen shots demonstrate how to create the first Higher High alert:


    HIGH ABOVE PAST(HIGH, 1)

    upload_2016-4-22_8-51-16.png


    LOW ABOVE PAST(LOW, 1)

    upload_2016-4-22_8-51-32.png


    SHADOW ABOVE PAST(SHADOW, 1)

    upload_2016-4-22_8-52-15.png


    CLOSE ABOVE OPEN

    upload_2016-4-22_8-52-57.png


    GROUP 1 SECOND

    upload_2016-4-22_9-6-59.png

    Enter a message to remind yourself why the alert was created, select the preferred alert notification methods, then set the 'reactivate the alert after' interval if the requirement is to get repeated alerts when the chart conditions are met. Activate or Pause the alert and note that Email or SMS notifications will only be received from Activated alerts.

    The alert can now be back tested to verify that it has been set up correctly and to help develop your trading strategy:

    upload_2016-4-22_9-8-11.png


    The alert can be used to backtest or execute a trading strategy. For example the alert could be used to test a trading strategy based buying when the alert conditions are met, with £10 a point spread bet and a take profit or stop loss of 10 points. The trade will only be executed if there is no open position when the alert conditions are met:

    upload_2016-4-22_9-3-31.png


    If the alert is activated it will execute trades in the simulated or live trading account associated with the deal ticket. Pause the alert to back test it to help develop your strategy:

    upload_2016-4-22_9-5-3.png


    which includes an analysis of the trading results:

    upload_2016-4-22_9-5-41.png


    To learn more about back testing and grouping alert triggers:

    Related content:

    Open a FREE timetotrade account today:
     
    Last edited: Apr 22, 2016

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  3. Customer Care

    Customer Care John @ timetotrade

    A related help video, demonstrating how to set up both alerts and backtest:

     

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