Welcome to Markplex tutorial 35 in this collection of tutorials to help you learn TradeStation EasyLanguage programming skills. EasyLanguage can be used to help you write programs to analyze forex, commodities or stocks trading. Please join our email mailing list if you have not already done so.
Dojis are a candlestick pattern where the body of the bar (i.e. the ‘thick’ bit of the candlestick bar that represents the price between open and close) is relatively small compared to the high of the bar minus the low of the bar (otherwise known as the wick on a candlestick chart). In EasyLanguage we calculate whether a bar is a ‘doji’ by dividing the absolute value of the open minus the close of a bar (absolute value means that if the result is negative, we make it positive) by the high minus low of the bar. If this is calculated to be less than a predetermined amount (in this program a user input percentage) then the bar is deemed to be a doji pattern.
In this tutorial we create a show me study that looks for what would be Doji’s on higher time frame charts. For example, if we have a 5 minute chart open, we might be interested to know what dojis are occurring on a 30 minute chart. This program shows this, plus because the lesser time frame actually contains more price information than a higher timeframe chart (at least in terms of the bars) this program shows dojis based on ‘syncopated’ higher time frame periods. So a normal 30 minute chart will contain a bar tha runs from 0900 – 0930. This program will analyze imaginary bars that run from 0900 – 0930, 0905 – 0935, 0910-0940 etc
The following video explains this simple show-me study in more detail.
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ANY EASYLANGUAGE OR POWERLANGUAGE TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (AND PARTS THEREOF) AND ASSOCIATED TECHNIQUES REFERRED TO, INCLUDED IN OR ATTACHED TO THIS TUTORIAL OR PROGRAM DESCRIPTION ARE EXAMPLES ONLY, AND HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES. MARKPLEX CORPORATION. DOES NOT RECOMMEND THAT YOU USE ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS (OR ANY PARTS THEREOF) OR TECHNIQUES. THE USE OF ANY SUCH TRADING STRATEGIES, SIGNALS, STUDIES, INDICATORS, SHOWME STUDIES, PAINTBAR STUDIES, PROBABILITYMAP STUDIES, ACTIVITYBAR STUDIES, FUNCTIONS AND TECHNIQUES DOES NOT GUARANTEE THAT YOU WILL MAKE PROFITS, INCREASE PROFITS, OR MINIMIZE LOSSES.
Tutorial 35 Video – How to find syncopated higher time frame dojis on a lesser time frame chart
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