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Traders' Tips from TASC Magazine
Candle Weight

For interpretation refer to the September 2003 issue of Technical Analysis of STOCKS & COMMODITIES magazine.
var
c1:=0;
c2:=0;
c3:=0;
c4:=0;
CW:=0;
end_var

if ushd >= lshd then
  c1:=64;
else
  c1:=-64;
if C <> O then c1:=0;

if body <= thBot_b then
  c2:=80;
if body > ThBot_b and body <= THTop_b then
  c2:=c2 + 112;
if C < O then
  c2:=0 - c2;
if C = O then c2:=0;

if lshd = 0 then
  c3:=3;
if lshd < ThBot_l and lshd > 0 then
  c3:=c3 + 2;
if lshd > thBot_l and lshd <= ThTop_l and lshd > 0 then
  c3:=c3 + 1;
if C < O then
  c3:=c3*4;
else
  c3:=c3*(-4);

if ushd > 0 and ushd <= ThBot_u then
  c4:=4;
if ushd > ThBot_u and ushd <= thTop_u then
  c4:=c4 + 8;
if ushd > ThTop_u then
  c4:=c4 + 12;
if C < O then
  c4:=0 - c4;


CW:=c1 + c2 + c3 + c4;

return CW;


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How to use this indicator in Tradecision:
  1. Click Download.
  2. Save this indicator in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click Indicator Builder.
  4. In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
The indicator will be added to the Custom Indicators list.
 
 
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