Guppy’s CBL (Count Back Line)

Guppy’s CBL (Count Back Line)

This is the Count Back Line. Basically, it is a volatility based indicator developed by Daryl Guppy.
You can find some info at his website (http://www.guppytraders.com/gup332.shtml), but a very clear description can be found in his book TREND TRADING.

Disclaimer: this is the first indicator I wrote so I don’t know if it is written correctly. Be careful!

 

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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.

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  1. sawer36 • 07/31/2018 #

    Hello, i get only the red line when i install your indicator into PRT

  2. Roberto S. • 07/31/2018 #

    Oh sorry. Can you share the instrument on which you are using it so that I can test it?
    Thanks

  3. sawer36 • 07/31/2018 #

    hello, on brent oil with PRT 10.3 daily

    • Roberto S. • 07/31/2018 #

      Ah ok I found it. There is a weak point in my implementation and it is the variable CBLHIGHRESET at the 36th row. I valued it at 1000 just because I’m using this indicator on stocks where values are lower than that. Unfortunately I didn’t think about all the instruments higher than that… I think I should implement the higher row in a different way (using an alternate value). At the moment if you change that variable at 100000 it should work.
      Can you try?

  4. Bon Zo • 07/31/2018 #

    Hello, ok let me give a try. Thanks for the help and this great indicator.

  5. Bon Zo • 07/31/2018 #

    Thanks it works perfectly now

  6. joobeng • 07/31/2018 #

    Hi, I am having problems with this indicator, the Count back lines does not show as indicated.

  7. joobeng • 07/31/2018 #

    I get area of shading above and below a horizontal line. How can I post a picture here ? Thanks

  8. joobeng • 07/31/2018 #

    Sorry, I solved the problem. I have add the CBL indicator using the spanner icon on the price chart. I was adding it using the Indicator icon and the CBL indicator appears in its own window, below the price. However, there seems to be something wrong as the price chart is very compressed. I need price to open up more in the Y-axis direction. Any clues? Thanks

    • Nicolas • 07/31/2018 #

      Adjust the price settings for the Y Axis to use the price only.

  9. XXXXVII • 07/31/2018 #

    Hello

    Your indicator is interesting.
    However, I can’t see the orange line.
    Do you have any idea what the problem is?

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