Is it possible to redraw k-line based on High/Low only?

[Seagull21]

I am new here and want to know if it is possible to redraw k-line in TOS based on
1. High/Low
2. Combine multiple K lines into one if they exist the engulfing pattern.

 

[halcyonguy]

I am new here and want to know if it is possible to redraw k-line in TOS based on
1. High/Low
2. Combine multiple K lines into one if they exist the engulfing pattern.

hello and welcome.
can you provide more info on k lines ?
i looked at your attachnent, and i'm still confused. it seems to talk about k lines, but doesn't define how to calculate them.

 

[Seagull21]

hello and welcome.
can you provide more info on k lines ?
i looked at your attachment, and i'm still confused. it seems to talk about k lines, but doesn't define how to calculate them.

Use High and Low and remove the engulfing patterns. The 2.1 defines Up-/down-trend using high and low only.
2.2 and 2.3 show how to calculate high/low for each k-line. If they exist the engulfing patterns, remove the engulfing patterns.

 

[halcyonguy]

Use High and Low and remove the engulfing patterns. The 2.1 defines Up-/down-trend using high and low only.
2.2 and 2.3 show how to calculate high/low for each k-line. If they exist the engulfing patterns, remove the engulfing patterns.

i admit sometimes i'm slow to understand.... i think i'm getting it.

you want 2 engulfing bars replaced with 1 bar.

i will start with the simplist version, 2.2b and 2.3b , draw a blue bar on top of the small bar.

the examples don't show candle wicks, so i'm not sure if you want (blue) rectangles drawn or a candle that has a body size derived from the 2 engulfing candles.

 

[Seagull21]

i admit sometimes i'm slow to understand.... i think i'm getting it.

you want 2 engulfing bars replaced with 1 bar.

i will start with the simplist version, 2.2b and 2.3b , draw a blue bar on top of the small bar.

the examples don't show candle wicks, so i'm not sure if you want (blue) rectangles drawn or a candle that has a body size derived from the 2 engulfing candles.

I am sorry I did not state clearly. For each bar, only use high(est) and low(est) with no wicks. if a newly-generated bar with previous bar still contains the engulfing pattern, remove it until no engulfing pattern. Same treatment with downtrend. Thanks for your assistance.

 

[halcyonguy]

I am sorry I did not state clearly. For each bar, only use high(est) and low(est) with no wicks. if a newly-generated bar with previous bar still contains the engulfing pattern, remove it until no engulfing pattern. Same treatment with downtrend. Thanks for your assistance.

this is a simple version of k-line rules, to verify the engulfing rules before going further.

sequential engulfing patterns are not combined.
2 consecutive engulfing patterns will have 2 blue bars, not 1.
if 3 bars make up 2 engulfing patterns, the 1st pair is ignored.

this version will find an engulfing pattern and,
. draw either a hollow or solid blue bar over the small candle.
. can choose to black out the big engulfing candle.

does not look for reversal patterns

# k_line_bars_01

#https://usethinkscript.com/threads/is-it-possible-to-redraw-k-line-based-on-high-low-only.9761/
#Is it possible to redraw k-line based on High/Low only?

def bn = BarNumber();
def na = double.nan;

# look for engulfing
# check if big bar is up or down
def bardir = if close > open then 1 else if open > close then -1 else 0;
def engulf2 = if (high > high[-1] and low < low[-1]) then 1 else 0;
# if 3 bars make up 2 engulfing patterns, disable the 1st pair
def engulf = if engulf2[-1] then 0 else engulf2;

# k bar , combine hi and low from 2 engulfing bars,
# if up engulf , big bar high and small bar low
# if down engulf , big bar low and small bar high

# calc a new bar to draw over the small bar
# it will extend in the direction of big bar
def smalltop = if (engulf[1] and bardir[1] == 1) then high[1] 
  else if (engulf[1] and bardir[1] == -1) then high
  else na; 

def smallbot = if (engulf[1] and bardir[1] == 1) then low 
  else if (engulf[1] and bardir[1] == -1) then low[1]
  else na; 

input show_solid_blue_bars = yes;
def kh = smalltop;
def kl = smallbot;

# hollow blue bars
#def ko = kl;
#def kc = kh;
# solid blue bars
#def ko = kh;
#def kc = kl;

def ko = if show_solid_blue_bars then kh else kl;
def kc = if show_solid_blue_bars then kl else kh;

#------------------------------

#  draw blue bar over the small enguled candle
def o;
def h;
def l;
def c;
o = ko;
h = kh;
l = kl;
c = kc;

AddChart(high = h, low = l, open = o, close = c, growcolor = color.cyan, fallcolor = color.yellow, type = ChartType.CANDLE);

#------------------------------
#  draw a black bar over big engulfing bar , to make it disappear

input black_out_big_engulfing_bar = yes;

def bh;
def bl;
def bo;
def bc;
if black_out_big_engulfing_bar and engulf then {
 bh = high;
 bl = low;
 bo = high;
 bc = low;
} else {
 bh = na;
 bl = na;
 bo = na;
 bc = na;
}

AddChart(high = bh, low = bl, open = bo, close = bc, growcolor = color.black, fallcolor = color.yellow, type = ChartType.CANDLE);


#------------------------------
# test stuff

input show_engulfing_arrows1 = no;
# put arrow on small bar of engulfing
plot smallup = if (show_engulfing_arrows1 and engulf[1] and bardir[1] == 1) then low*0.994 else na;
smallup.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
smallup.SetDefaultColor(Color.white);
# x.setlineweight(1);
smallup.hidebubble();

plot smalldwn = if (show_engulfing_arrows1 and engulf[1] and bardir[1] == -1) then high*1.006 else na;
smalldwn.SetPaintingStrategy(PaintingStrategy.ARROW_down);
smalldwn.SetDefaultColor(Color.white);
# x.setlineweight(1);
smalldwn.hidebubble();

#------------------------------
# 
# hide the default candles
# HidePricePlot();
# input hide_candles = yes;
# HidePricePlot(hide_candles);
#

img1 - big engulfing candles blacked out. solid blue bar drawn over small engulfed candle.

img2 - big engulfing candles visible. solid blue bar drawn over small engulfed candle.

img3 - big engulfing candles visible. hollow blue bar drawn over small engulfed candle.

 

[Seagull21]

Great Job! But for each bar, only use high(est) and Low(est) with no wicks. e.g.:
def close = if open <= close and close <= high then high
else if open > close and close >= low then low
else close;
def open = if open >= close and open <= high then high
else if open < close and open > low then low
else open;

For (up/down)trend determination, two consecutive bars are used for comparison.