OHLC4 (OHLC Average)¶
What it shows: the average of each candle's open, high, low and close, drawn as a line on the price chart. It has no settings.
How people use it: mostly as a smoother stand-in for the close: comparing the close with it shows whether the candle closed in its upper or lower part. It is also handy as the "other line" in a condition.
Pairs well with: a moving average or Bollinger Bands, which give the trend or range that this price line is judged against.
Settings¶
None. It has no settings to change.
Ready-made conditions¶
| For | Condition | Fires when |
|---|---|---|
| Buy | Price crosses above OHLC4 | the one candle price moves from below the OHLC4 line to above it |
| Buy | Price above OHLC4 | every candle price is above the OHLC4 line |
| Sell | Price crosses below OHLC4 | the one candle price moves from above the OHLC4 line to below it |
| Sell | Price below OHLC4 | every candle price is below the OHLC4 line |
"Above", "below", "is" and "rising" / "falling" stay true on every candle the state lasts, so they can fire many candles in a row. "Crosses" and "flips" fire once, on the candle it happens, so you get one signal per move.
Warnings you may see¶
- "It can never be true: a cross happens on one candle, so it cannot happen on N candles in a row. Use 'within the last N candles' instead.": a "crosses" condition with a "… in a row" lookback of 2 or more. Switch the lookback to Within the last.
Where they show: on the Strategies page, open Create entry conditions / Edit entry conditions (or the exit ones). Each condition's messages appear right under it. The setting messages ("must be between", "whole number", "must be one of", "must be smaller than") start with the indicator's short name, for example "MACD: Fast must be between 1 and 1000", and keep the conditions from being saved until fixed. The other warnings never block saving and are repeated in the strategy's Entry or Exit section, starting with the condition's name.
Good to know¶
- It is worked out from each candle's open, high, low and close.
- The ready-made conditions compare the close with this line on the same candle, so they fire often on any timeframe.
- It needs no warm-up history: each value uses only its own candle.