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When trading using TheStrat, it is important to keep an eye on multiple timeframes.

This indicator will show the Daily, Weekly, Monthly and Quarterly state of the current candle for each timeframe.

  • A Circle icon shows that the candle on that timeframe is currently an Inside, or Type 1 in TheStrat terminology. An Inside Day candle is consolidating price action, and we are looking for a breakout of the range.
  • A Triangle icon, pointing up or down, is a trending candle, or Type 2 in TheStrat terminology. A Trending candle can be either Bullish or Bearish, indicating that it has broken out of the previous candles range and is now trending in one direction.
  • A Square icon is an Outside candle, or Type 3 in TheStrat terminology. This indicates two things, one that price is undecided about direction on that timeframe, and likely quite choppy, and two, that on lower timeframes there are likely good opportunities for trading short reversals. The square will be either a Bullish or Bearish colour to show which side is currently winning.

The colours used for each icon can be configured to your tastes, and the size of the text and icons are also configurable.

Timeframe Selections

ShowHourly

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When True, shows the hourly candle state.

ShowDaily

When True, shows the daily candle state.

ShowWeekly

When True, shows the weekly candle state.

ShowMonthly

When True, shows the monthly candle state.

ShowQuarterly

When True, shows the quarterly candle state.

ShowYearly

When True, shows the yearly candle state.

Display Formatting

InsideFontColour

The colour to use when drawing inside (Type 1) candles.

BullishFontColour

The colour to use when drawing bullish trending (Type 2) or Outside (Type 3) candles.

BearishFontColour

The colour to use when drawing bullish trending (Type 2) or Outside (Type 3) candles.

HeaderFontName

The Font to use for Headings to the candle state icons.

FontSize

The size of font to use for the headings. This also controls the overall size of the indicator display.

Key Features of Algorithmic Trading Software

24 May 2021

1.4

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