09 Jan 2025
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This code snippet demonstrates how to identify a sequence of consecutive increases in the closing prices of a stock or asset over a specified number of periods using the ProBuilder language.
IF summation[5](close > close[1]) = 5 THEN...The code checks if the closing price of the current bar has consecutively increased over the previous bar for five successive bars. Here’s a breakdown of how it works:
- summation[5](close > close[1]): This function calculates the sum of true instances where the current bar’s close price is greater than the close price of the previous bar, over the last 5 bars.
- close > close[1]: This condition checks if the close price of the current bar is higher than the close price of the previous bar.
- IF … = 5: The IF statement checks if the sum calculated by the summation function equals 5. If true, it implies that the close price has increased consecutively over the last five bars.
This snippet can be used to trigger trading strategies or alerts based on the momentum indicated by consecutive price increases.
Related Post
Check out this related content for more information:
https://www.prorealcode.com/topic/code-of-series-of-periods/#post-75501
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robertogozzi
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Roberto
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