PRTBANDSSHORTTERM

The PRTBANDSSHORTTERM function in ProBuilder language is designed to calculate and return the short-term trading band values, typically used to identify potential trading signals based on the band’s movements. This function is particularly useful for traders who focus on short-term market fluctuations and wish to automate their screening process for specific patterns like ascending hooks.

Syntax:

PRTBandsShortTerm

Example Usage:

To create a screener that lists all shares where the short-term band has just formed an ascending hook, you can use the following code:

a = PRTBandsShortTerm
result = a > a[1] and a[1] < a[2]
screener[result]

Explanation:

• The variable a is assigned the value from PRTBandsShortTerm, which represents the current value of the short-term band.
• The result variable is a boolean expression that checks if the current band value (a) is greater than its previous value (a[1]) and if the previous value (a[1]) is less than the value before it (a[2]). This condition identifies an ascending hook pattern.
• The screener[result] function is then used to filter and display all stocks that meet this criteria.

This function is part of a broader set of tools in ProBuilder that allow traders to analyze and respond to market conditions efficiently. Understanding how to implement and interpret this function can significantly enhance short-term trading strategies.