Category Trend  Published on 23/03/2015

Raghee's Wave Candles

Description

Similar to MAcc (moving average color candles) these candles have 2 shades of green, blue and red each.  They are Raghee Horner's Wave candles. Also known as her Green Red and Blue (GRaB) candles.   

The idea is that there is a 34EMA on the High, Low and Close.  Candles above the high are light and dark green.  Candles below the low are light and dark red.  And candles that close between those two are blue.

The candles are posted elsewhere on this site as three separate indicators converted direct from the MT4.  But here there is only one indicator, and the EMA period and type is easily adjusted.

You will want to adjust your chart colors so that bull and bear outlines are the same color as your background.  That way you won't see any vestiges of the original candle underneath.


using System;
using cAlgo.API;
using cAlgo.API.Indicators;

namespace cAlgo.Indicators
{
    [Indicator(IsOverlay = true, AccessRights = AccessRights.None)]
    public class MovingAverageColorCandles : Indicator
    {

        private MovingAverage _Hma;
        private MovingAverage _Lma;
        private MovingAverage _ma;


        [Parameter("MA Period", DefaultValue = 34)]
        public int maPeriod { get; set; }

        [Parameter("MA Type", DefaultValue = MovingAverageType.Exponential)]
        public MovingAverageType MAType { get; set; }

        [Parameter("Candle width", DefaultValue = 5)]
        public int CandleWidth { get; set; }

        [Parameter("Wick width", DefaultValue = 1)]
        public int WickWidth { get; set; }

        [Parameter("Above up color", DefaultValue = "LimeGreen")]
        public string AboveUpColor { get; set; }

        [Parameter("Above down color", DefaultValue = "DarkGreen")]
        public string AboveDownColor { get; set; }

        [Parameter("Middle up color", DefaultValue = "LightBlue")]
        public string MiddleUpColor { get; set; }

        [Parameter("Middle down color", DefaultValue = "DodgerBlue")]
        public string MiddleDownColor { get; set; }

        [Parameter("Below up color", DefaultValue = "Tomato")]
        public string BelowUpColor { get; set; }

        [Parameter("Below down color", DefaultValue = "Crimson")]
        public string BelowDownColor { get; set; }

        [Output("High Moving Average", Color = Colors.SlateGray, LineStyle = LineStyle.Lines)]
        public IndicatorDataSeries HMaResult { get; set; }

        [Output("Low Moving Average", Color = Colors.SlateGray, LineStyle = LineStyle.Lines)]
        public IndicatorDataSeries LMaResult { get; set; }

        [Output("Middle Moving Average", Color = Colors.SlateGray, LineStyle = LineStyle.Lines)]
        public IndicatorDataSeries MaResult { get; set; }

        private Colors _AboveUpColor;
        private Colors _AboveDownColor;
        private Colors _MiddleUpColor;
        private Colors _MiddleDownColor;
        private Colors _BelowUpColor;
        private Colors _BelowDownColor;
        private Colors color;

        private bool _incorrectColors;
        private Random _random = new Random();

        protected override void Initialize()
        {
            _Hma = Indicators.MovingAverage(MarketSeries.High, maPeriod, MAType);
            _Lma = Indicators.MovingAverage(MarketSeries.Low, maPeriod, MAType);
            _ma = Indicators.MovingAverage(MarketSeries.Close, maPeriod, MAType);

            if (!Enum.TryParse<Colors>(AboveUpColor, out _AboveUpColor) || !Enum.TryParse<Colors>(AboveDownColor, out _AboveDownColor) || !Enum.TryParse<Colors>(BelowUpColor, out _BelowUpColor) || !Enum.TryParse<Colors>(BelowDownColor, out _BelowDownColor) || !Enum.TryParse<Colors>(MiddleUpColor, out _MiddleUpColor) || !Enum.TryParse<Colors>(MiddleDownColor, out _MiddleDownColor))
                _incorrectColors = true;
        }

        public override void Calculate(int index)
        {
            if (_incorrectColors)
            {
                var errorColor = _random.Next(2) == 0 ? Colors.Red : Colors.White;
                ChartObjects.DrawText("Error", "Incorrect colors", StaticPosition.Center, errorColor);
                return;
            }

            var open = MarketSeries.Open[index];
            var high = MarketSeries.High[index];
            var low = MarketSeries.Low[index];
            var close = MarketSeries.Close[index];

            var HMA = _Hma.Result[index];
            var LMA = _Lma.Result[index];
            var MA = _ma.Result[index];

            HMaResult[index] = HMA;
            LMaResult[index] = LMA;
            MaResult[index] = MA;

            if (close > HMA)
                color = open > close ? _AboveDownColor : _AboveUpColor;

            if (close < LMA)
                color = open > close ? _BelowDownColor : _BelowUpColor;

            if (close >= LMA && close <= HMA)
                color = open > close ? _MiddleDownColor : _MiddleUpColor;

            ChartObjects.DrawLine("candle" + index, index, open, index, close, color, CandleWidth, LineStyle.Solid);
            ChartObjects.DrawLine("line" + index, index, high, index, low, color, WickWidth, LineStyle.Solid);



        }
    }
}


FO
foreman01

Joined on 04.07.2014

  • Distribution: Free
  • Language: C#
  • Trading platform: cTrader Automate
  • File name: Raghee's Wave Candles.algo
  • Rating: 5
  • Installs: 4243
  • Modified: 13/10/2021 09:54
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