Edge Finder and Condition Tester

v11
Edge Finder and Condition Tester

This indicator can help you find out what condition or set of conditions might give you an edge in any market. It can check through all of history and record what price did after any condition or any set of conditions occurred.

This indicator only works on PRTv11 onwards.

You set ‘projection’ to how many bars after an event you want to analyse.

You can change line 10 in the code to be any condition or set of conditions that you wish to analyse. So for example it could be something like any of the following:

  • high > high[1]
  • close > average[10]
  • close > average[10] and high > high[1]
  • stochastic[10,3] > stochastic[10,3][1] and low > low[1]

The options are endless.

The indicator returns three lines drawn ‘projection’ bars into the future from the close of the last candle on the chart.

The blue line is our datum and is a line calculated from what happened after every bar on the chart. If this line curves upwards then we are trading a market that has a long tendency. If it curves down then it has a short tendency. If it is fairly level then the market might be considered to be more of a mean reversal market.

The green line shows what happened on average after a candle which met our condition/s occurred. If it is above the blue line then that is an edge. If it is below then it is a condition that gives a disadvantage.

The red line shows what happened on average after a candle which did not meet our condition/s occurred. If it is above the blue line then there is an edge to trading candles that do not meet our condition/s. If it is below then not meeting our condition gives a disadvantage.

The lines are labelled. The first number is the sample size or quantity of candles that either met our condition/s or did not meet our condition/s and for the datum line it is the total number of candles tested to get our datum.

The second number is the difference between the end of the projection line and the start of it. You can set a spread amount and this is then deducted off this result so you can see if the edge is big enough over ‘projection’ bars to actually overcome the spread.

The third number on the datum line is the percentage gain or loss compared to the start of the datum line. For the green condition met and red condition not met lines it is the difference of percentage to the datum line.

I advise downloading and importing to get full functionality.

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Fabian • 197 days ago #

    Hi Vonasi,

    I’m a big fan of your work.

    Could you please take a look at my idea and suggestion of a live trading target calculation? I think it might go great with your other work as well.

    https://www.prorealcode.com/topic/live-target-zone-calculation-with-arrays/

    Thanks,
    Fabian

  2. MAKSIDE • 196 days ago #

    Good job !

  3. larouedegann • 195 days ago #

    HELLO
    Il faut enlever le “s” de projections dans le setting et
    çela fonctionne à merveille

    • Vonasi • 195 days ago #

      Yes that is a typo in the code. You should download and import the indicator as advised in the description to get full functionality.

  4. Aristote • 195 days ago #

    Congratulation for this work !
    Is it possible to add an option “Startback” like your other indicator Index Projections ?

    Many thanks for this !

    • Vonasi • 194 days ago #

      I guess it might be a nice addition so that you can check back in history and compare whether your condition has always given an edge. In fact that has given me an idea to possibly draw lines for lots of different sample periods to check the robustness of the edge! I’m a bit busy with other stuff right now but I’ll keep it in mind.

  5. Jan • 194 days ago #

    Hi Vonasi,
    I tried to understand the concept behind the 3 lines.
    “The indicator returns three lines drawn ‘projection’ bars into the future from the close of the last candle on the chart.
    The blue line is our datum and is a line calculated from what happened after every bar on the chart. If this line curves upwards then we are trading a market that has a long tendency. If it curves down then it has a short tendency. If it is fairly level then the market might be considered to be more of a mean reversal market.
    The green line shows what happened on average after a candle which met our condition/s occurred. If it is above the blue line then that is an edge. If it is below then it is a condition that gives a disadvantage.
    The red line shows what happened on average after a candle which did not meet our condition/s occurred. If it is above the blue line then there is an edge to trading candles that do not meet our condition/s. If it is below then not meeting our condition gives a disadvantage.”

    Why have you developed this visual ? What is the conceptual difference with back testing the rule with the projection period ?

    • Vonasi • 194 days ago #

      First of all it was a nice exercise in the use of arrays. If you back test your rule and say buy now and sell in x bars then while you are on the market you are missing all the other trade starting points that might also occur. With this indicator that does not happen. Every single candle that meets your conditions is analysed for what price did next and the lines are an average of all those price movements for every candle that your condition was met on. Also you get to compare it directly to all the candles that did not meet your condition and also against a market datum. All that is impossible to do in a strategy.

  6. Marcot18 • 143 days ago #

    Scusate, quindi la linea blu é dove andrà il prezzo con le maggiori possibilità di successo?
    Grazie

    • Vonasi • 143 days ago #

      La linea blu è ciò che fa il mercato in media se si apre uno scambio su ogni barra. È il nostro dato da confrontare.

avatar
Register or

Likes

avatar avatar avatar avatar
Related users ' posts
Vinks_o_7 Vonasi you're a beast !!! ;-)))
pableitor Amazing indicator , you are pushing PRT to the limit! But looking at the scatter its not c...
luxrun Vonasi, is it possible to have a screenshot of an index chart (eg djia) and below the breako...
Vonasi I can't add any images here now that the library post has been listed. Perhaps you could sta...
Vinks_o_7 Thanks again Vonasi !
Vonasi In the all the DRAWTEXT lines of code change the 10 to a larger number.
Lotech123 Vonasi. Thank you for a very prompt response.
Lotech123 Following on from your earlier advice, I changed the ‘drawtext’ command to various sizes bef...
GraHal Wow! Thank you Vonasi, great idea!
Vonasi No Problem GraHal. Please share anything interesting that you find using it.
Vonasi I've made a small improvement by adding a Buy and Hold line for comparison. This line can be...
Vonasi Thanks for your thanks Real Pro and yes everyone should import the itf file to make sure tha...
Pepsmile Good job, which could be applied for a spectrum of another indicators.
Pepsmile As to better understand which parameters are better for an indicators in a specific period (...
Bard I was talking to a Machine Learning coder today who's algos have apparently managed to get 7...

Top