Average Candle Height Screener


This screener take the last X candles and average their height, either total height or body height. It will trigger a signal BUY and SELL if the last candle has a height higher than the average of last X candles.

Note: This screener is designed to be used with other screeners as it returns true is there is a signal but do not specify if is a BUY or SELL signal. If there is no signal, then the filter will return false, meaning that the filter did not produce any signal.

Parameter Name Parameter Type Description Default value/allowed values
candle_average_height_screener_enabled boolean Whether this screener is enabled or not Default value: false
Allowed values:

  • true
  • false
candle_average_height_screener_use_total_height boolean If true, then this screener will use the the total height of the candles, otherwise will use only the body range of the candles false
candle_average_height_screener_average_sample_count int The number of candles to average 5
candle_average_height_screener_min_relative double The minimum percentage (0 to 1) of the last candle compared to the average of the last candles 1

Example 1:

Given the following configuration:

  • candle_average_height_screener_use_total_height = true
  • candle_average_height_screener_average_sample_count = 5
  • candle_average_height_screener_min_relative = 1

This screener will take the previous 5 candles – excluding the last one because is the pivot candle – and average the height of those 5 candles. The screener will produce a BUY and SELL signal if the last candle is  higher than the average.

average_geight

In this case, this is a valid signal, either SELL or BUY, because the total height of C1 is greater than the average height of C2, C3, C4, C5 and C6.

Example 2:

Given the following configuration:

  • candle_average_height_screener_use_total_height = false
  • candle_average_height_screener_average_sample_count = 5
  • candle_average_height_screener_min_relative = 1

In this example, only the body heights will be used, and all the rest being the same as previous example.

 

average_height2

 

 

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