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Can you give me a formula that creates a Long White Candle Rate this Topic:
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bobhovik
Posted : Thursday, January 29, 2015 11:56:46 AM
Registered User
Joined: 3/12/2005
Posts: 40

I know this a general statement.  Maybe, twice as large as the two week average range. Or maybe you an suggest a look-back period 

Bruce_L
Posted : Thursday, January 29, 2015 1:12:37 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

A Condition Formula for the close being above the open of a candle which is at least twice as large as the average of the previous 10 bars can be written as follows.

O > C AND H - L >= 2 * (AVGH10.1 - AVGL10.1)

If you want to make sure the body is more than say 80% of the entire range of the candle, you could add a check for that as well.

O - C > .8 * (H - L) AND H - L > 2 * (AVGH10.1 - AVGL10.1)

Note that I was able to get rid of the check for O > C because if O = C or O < C, it can't be greater than .8 * (H - L).

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