New Indicator, BDHiLo (Under Testing)

11:14 pm gmt +8

Indicator name : BDHilo
Objective : To perform Hi Lo trading method
Scope :
1. Analyze the Hi Lo at certain period
2. Calculate the range between High and Low
3. Analyze risk and reward for BUY and SELL
4. The timeframes D1 to M5

GBPJPY : Early sign of retracement

3:41 pm gmt+8

I'm waiting price to drop little bit lower to enter long position. As long as price not break trendline

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result : buy@206.57 close manually 27pips

GBPJPY : Strong Bearish

9:34 am gmt+8

RSI, stochastic and MACD indicates strong bearish on H4

GBPJPY : Long lower shadow + gap

9:18 am gmt +8

H4 candles form long lower shadow and gap. I believe that the long lower shadow is a good sign for BULLISH as long as the last candle is bull candle and became more reliable if the current candle break the previous candle high... however it's too early to make any decision. The last candle has just formed 10 minutes ago (the time i framed this picture).

And how about the gap? Actually i'm not really confidence on monday's gap. My reason is the market runs 24 hours and 7 days a week... but the trading platform not capture data on saturday and sunday. So that we can't see the real movement. The business activities out there continuously run even the platform closed for any activities.

Transform standard indicator

Since the computer's calculation is faster than human eyes... I've transform the standard RSI, Stochastic and MACD without modify any calculation on coding.

RSI to RSI Histogram - to identify strong/weak BULL and strong/weak BEAR so that I can get the proper time to take only BUY or SELL signal from small TF.
Stochastic to Stochastic Histogram - to make it easy to read BULLISH, BEARISH, OB and OS.
MACD to Colored MACD - BLUE bar means the current MACD value is greater than previous value, while RED bar means current value is smaller then the previous.