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Candle Quarters

I posted this in the Elite area yesterday as a .cs file. Here is it as a Zip file...

We have all studied price action of candles to try to predict what might be coming up. I have been studying and trading off of candle centers for quite some time and finally made a simple indicator to mark the 25%, 50%, 75% and Pivot of the candle to show me where pullbacks might go to. Bull Candles that close below 50% can indicate that the Bull move is ending. The reversing candles like to retrace to 50% on the new move, so you know where to jump in when the new move has started. Study it and see what you think. I use it and find it valuable on various time settings. The ZOrder is a function that is documented in the Ninja help files. ZOrder is the stacking of the drawing objects on the chart. It is not well controlled by Ninja but I found that 30006 seems to work pretty well.

Trade Well
Bob

Category NinjaTrader 7 Indicators

Details: Candle Quarters
Category: NinjaTrader 7 Indicators

July 1st, 2013
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Comments/ratings

tcwairoa July 1st, 2013 03:01 PM

Many thanks bobc635, ingenious idea.

zohar July 3rd, 2013 06:36 AM

First of all many thanks just I do not understand what's so yellow dots plus say what they say. . Which graph work according to the indicator and thanks again

bobc635 July 4th, 2013 01:49 PM

Hi Zohar.... The cross is at 50% of the candle. The yellow dots are the 25% and 75% marks and the gold dot is the conventional Pivot (H+L+C/3). I use it on the 2, 5 and 15min charts. It does not make sense on a range chart. If you load it and watch, you will see that the current candle will like to retest the 50% point of the previous candle. You will also see that if a candle finishes between 50% and 75% that the end of the move is likely near. I have been looking at measuring the mid to the high (or low) of the 50 to 75% finishing candles and extending it to see where the next candle may extend to. I use it in the context of the Bollinger bands (BBAND2 with 2 sdev and 3 sdev), Gomi's CD and the Aggreg T&S for entries and exits on CL and GC. Each market has its own personality, so you have to watch a little.

Trade Well....
Bob

coolfutures July 24th, 2013 10:58 PM

Thanks

Pocketful September 3rd, 2013 06:05 PM

No Comment

ValLiant September 17th, 2013 01:08 PM

Very useful thank you!

IMN77 September 27th, 2013 12:21 AM

Thanks. very useful for me.

Bakstenen November 6th, 2013 11:16 AM

Bob,
thanks for the indicator

Ironman71171 December 10th, 2013 10:11 PM

Thanks a ton Bob- I had an intuitive flash of insight yesterday that there must be a correlation to candle closing and pullbacks related to candle quarters......and then I saw your indicator! Gonna use it for entries and exits on my CL 500 tick chart! Thanks

bobc635 December 12th, 2013 10:24 AM

Hi Ironman.... your description was exactly what prompted me to write this.... it is a simple and useful tool to add to your tool set

Trade Well

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