Comment on Code your Technical Analysis strategy

chintamani commented on 15 Jul 2013, 12:09 PM

Can we explore the possibility of doing this?

Please consider the idea of the same.

Every trade consists of the tIck and then the same is converted to timeframes.Timeframe is nothing but total number of trades during the same interval.

Here we are exploring an idea to evaluate the base structure i.e.one minute chart and then when such five minutes are completed ,we call the same as 5 minute chart …so on and so forth.
Considering the fact that “WHEN FIVE CANDLES ARE COMPLETED IN ONE MINUTE CHART”=ONE CANDLE IS SAID TO HAVE BEEN COMPLETED ON A 5 MINUTE CHART.

Here for e.g

The open on ref(open ,5 ) can said to be the open on a five minute chart -but defined on a one minute chart.
The close for the five minute chart will be the same as a close on one minute chart,but after completion of five minutes.
THE HIGHEST HIGH VALUE OF THE FIVE CANDLES ON A ONE MINUTE CHART IS THE HIGH ON A FIVE MINUTE CHART.
AND LOWEST LOW VALUE OF THE FIVE CANDLES ON A ONE MINUTE CHART IS THE LOW ON A FIVE MINUTE CHART.

SO A FIVE MINUTE CANDLE ON ONE MINUTE CHART MAY BE DEFINED AS:

OPEN-REF(OPEN ,5)
CLOSE-CLOSE
HIGH-HIGHEST HIGH VALUE OF THE FIVE CANDLES -SORRY BUT I DO NOT KNOW THE CODE FOR THE SAME.
LOW-LOWEST LOW VALUE OF FIVE CANDLES -HERE TOO I DO NOT KNOW CODE FOR THE SAME.

Once defined,a correlation to the other factors may be possible.
This, if possible, may be extended to other data array as RSI, MACD ETC.

This may make us trade RSI when it is below 30 on one minute chart and above 60 on five minute chart.
I am not able to extend the idea further……

Kindly correct if wrong and please extend the idea if correct and code the strategy for the benefit of all.
Perhaps it may help all to have combination in various ways for trading their own ideas.

Best Regards

Chintamani.

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