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Candlestick

In this software, candlesticks are divided into 3 major groups, namely price groups, size groups and type groups. The price group consists of the opening price O, the highest price H, the lowest price L, the middle price between the highest price and the lowest price M and the price between the opening price and closing price B. This group is then abbreviated as OHLCMB. The next group consists of the upper stalk named Shadow Top T, the lower stalk named Shadow Sub S, Body B and the magnitude of the value between the highest and lowest values ​​is named Range R. This group is then abbreviated as RBTS. While the last group is based on the position of the opening and closing prices of the candlesticks. If the closing price is greater than the opening price, it is called BULL, if the closing price is less than the opening, it is called BEAR, while if the opening price is the same as the closing price, it is included in the DOJI group. This may be a little different from what you have learned so far, but for practical purposes these three groups are used.

BULL
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BEAR
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DOJI
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From the description above, the candle filter can be seen as follows:

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Candlestick Filters

A. Candlesticks Type

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To filter the candlestick chart, we will adjust the shape of the candles one by one and the position of the index candle is located. Here's the explanation:

B. Turn on Group Filter

As explained in the candlestick filter section, regarding candle groups based on the index position and the tome frame used, this section will activate the filter. Please note that the combination of filter candles in reality is very diverse. For example, we can filter candles based on the position of the index in question, but with the requirement that not only one type of candle is eligible, but various. On the other hand, filters can also be done based on the arrangement of several candles with different index positions. Well, that way we need to group candles based on the index position and time frame used.

C. Resultant Series
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Resultant Series is a method for filtering by adding up a series of candlesticks according to the size of the price range for each candlestick. For example Body, Price Range between Open and High or between Close and Low, etc. Here we give positive and negative values depending on the input price range, for example in the Bull candlestick type the Body value is positive, but it is different with the Bear type candlestick the value is negative. The following is a list of values based on the type of candlestick

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To create a filter from the 8 items above, you only need to click the button of each item. After that select the time frame, enter the initial index and the desired number of bars. Next you can make a filter based on the total value of the number of items you choose, or you can also filter by ratio, this is like describing the negative and positive strength of price movements.

D. Comparison OHLCMB

The position of the prices in the arrangement of several candles is also very important to observe, not only the position of the price against other prices but also the position of the candle against the body and the midpoint of the previous candle.

For example, you want to filter as follows: The first candle of the closing price position is higher than the highest price position of the 2nd candle with a deviation of 10 points

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D. Comparison RBTS

In addition to price positions, the size of a candle is also very important. In this section you can not only compare the component size of a candle with other candle size components, but also compare the component size with other size components in the same candle.

Besides you can filter according to the size of the candle component, you can also filter according to the ratio of the two components. For example, you want to filter 2 candles with the size of the first candle body not being more than 75% of the size of the second body candle and not being less than 30% of the size of the 2nd body candle.

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