Guppy's CBL (Count Back Line) - Indicators

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!

// ==  S e t t i n g s  =============================
once CBLLOWRESET = 0
once MAXCYCLES = 15

// ==  C B L   ( l o w )  ===========================
once cblLow = CBLLOWRESET
once previousCblHigh = CBLLOWRESET

// When a new high appears, we try to find the 2 lower lows back
// TODO: optimize a little bit 'cause it is not required to cycle so many times every bar
if high > previousCblHigh then
 count = 0
 currentLow = low
 for i = 1 to MAXCYCLES do
  if low[i] < currentLow then
   currentLow = low[i]
   count = count +1
   if count = 2 then
    if currentLow > cblLow then
     cblLow = currentLow
     previousCblHigh = high
    endif
    break
   endif
  endif
 next
endif

// When the close is lower than CBL, it terminates
if close < cblLow then
 cblLow = CBLLOWRESET
 previousCblHigh = CBLLOWRESET
endif

// ==  C B L   ( h i g h )  =========================
once CBLHIGHRESET = 1000
once cblHigh = CBLHIGHRESET
once previousCblLow = CBLHIGHRESET

// When a new low appears, we try to find the 2 higher highs back
// TODO: optimize
if low < previousCblLow then
 count = 0
 currentHigh = high
 for i = 1 to MAXCYCLES do
  if high[i] > currentHigh then
   currentHigh = high[i]
   count = count +1
   if count = 2 then
    if currentHigh < cblHigh then
     cblHigh = currentHigh
     previousCblLow = low
    endif
    break
   endif
  endif
 next
endif

// When the close is higher than CBL, it terminates
if close > cblHigh then
 cblHigh = CBLHIGHRESET
 previousCblLow = CBLHIGHRESET
endif

// This is a trick found on prorealcode.com: basically when the
// value is a "reset" we don't want to see any line, so that it seems CBL
// is made of segments...
cblLowAlpha = 255
if cblLow = CBLLOWRESET or cblLow[1] = CBLLOWRESET then
 cblLowAlpha = 0
endif
cblHighAlpha = 255
if cblHigh = CBLHIGHRESET or cblHigh[1] = CBLHIGHRESET then
 cblHighAlpha = 0
endif
return cblLow coloured (220, 0, 0, cblLowAlpha), cblHigh coloured (230, 160, 0, cblHighAlpha)

// == S e t t i n g s =============================

once CBLLOWRESET = 0

once MAXCYCLES = 15

// == C B L ( l o w ) ===========================

once cblLow = CBLLOWRESET

once previousCblHigh = CBLLOWRESET

// When a new high appears, we try to find the 2 lower lows back

// TODO: optimize a little bit 'cause it is not required to cycle so many times every bar

if high > previousCblHigh then

count = 0

currentLow = low

for i = 1 to MAXCYCLES do

if low[i] < currentLow then

currentLow = low[i]

count = count +1

if count = 2 then

if currentLow > cblLow then

cblLow = currentLow

previousCblHigh = high

endif

break

endif

// When the close is lower than CBL, it terminates

if close < cblLow then

cblLow = CBLLOWRESET

previousCblHigh = CBLLOWRESET

endif

// == C B L ( h i g h ) =========================

once CBLHIGHRESET = 1000

once cblHigh = CBLHIGHRESET

once previousCblLow = CBLHIGHRESET

// When a new low appears, we try to find the 2 higher highs back

// TODO: optimize

if low < previousCblLow then

count = 0

currentHigh = high

for i = 1 to MAXCYCLES do

if high[i] > currentHigh then

currentHigh = high[i]

count = count +1

if count = 2 then

if currentHigh < cblHigh then

cblHigh = currentHigh

previousCblLow = low

endif

break

endif

// When the close is higher than CBL, it terminates

if close > cblHigh then

cblHigh = CBLHIGHRESET

previousCblLow = CBLHIGHRESET

endif

// This is a trick found on prorealcode.com: basically when the

// value is a "reset" we don't want to see any line, so that it seems CBL

// is made of segments...

cblLowAlpha = 255

if cblLow = CBLLOWRESET or cblLow[1] = CBLLOWRESET then

cblLowAlpha = 0

endif

cblHighAlpha = 255

if cblHigh = CBLHIGHRESET or cblHigh[1] = CBLHIGHRESET then

cblHighAlpha = 0

endif

return cblLow coloured (220, 0, 0, cblLowAlpha), cblHigh coloured (230, 160, 0, cblHighAlpha)

guppy Stop Loss stoploss trailing stop volatility

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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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sawer36 • 07/31/2018 #
Hello, i get only the red line when i install your indicator into PRT

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

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?

Bon Zo • 07/31/2018 #
Hello, ok let me give a try. Thanks for the help and this great indicator.

Bon Zo • 07/31/2018 #
Thanks it works perfectly now
- Roberto S. • 07/31/2018 #
  Thanks to you

joobeng • 07/31/2018 #
Hi, I am having problems with this indicator, the Count back lines does not show as indicated.

joobeng • 07/31/2018 #
I get area of shading above and below a horizontal line. How can I post a picture here ? Thanks

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.

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?

luxrun sorry, add prt code add doesn't work

robertogozzi Don't worry about PRT code, I can't make it work either! Great for pointing that out, it's ...

Khaled @Luxrun, good morning, you mentionned "y = exponentialaverage (x)", isn't the period of the ...

luxrun One question, Roberto: the two AvgT are variable, could you explain to me what they regulate...

robertogozzi AvgT stands for Average Type, it's a parameter for the AVERAGE keyword (https://www.prorealc...

Nicolas remplacer les valeurs de coloured(0,255,0) par coloured(r,g,b) et ajouter ces noms de variab...

mohamed merci Nicolas!

sacram14 Merci Nicolas pour ce set-up que je ne connaissais pas ! J'ai tenté de reprendre le code pou...

Nicolas Just add it on the price series.

yomisadiku Hello Nicolas, Can I use high and low price at lines hh=max(hh,close) and ll=min(ll,close) ...

Nicolas Yes you can do that, the impact will be that the trailing stop line will be much close to th...

Vonasi Sure that is possible. I will code it and make a post in the English ProBuilder forum and pu...

Vonasi Vama v2 with Hull moving average included can be found here: https://www.prorealcode.com/top...

JMat45 Thank you, Vonasi.

Bard Very interesting approach Vonasi! I'm getting a 404 error when trying to download though?

Vonasi I just tested and I was able to download with no error.

Psari Hi Vonasi, I am a newbie and was wondering whether you could possibly help me with this pro...

Bard I've also just noticed that changing the "Bands Deviation" setting from 1.25 to eg 3 doesn't...

bartekz Hi @Nicolas, Really impressed by your work. I am trying to replicate the Wave-PM indicator t...

Nicolas You don't have to replicate it, download the file and import it into your platform.

nfulcher Please could someone explain how the following code is calculated:- iDI = TEMA[3](DI[DI2]...

oakenstream Jan, I find sometimes that the priceexit variable is never set. It seems to happen when the ...

Matt66612 I do not understand the first time I launch the backtest I got the same result as you. but ...

Bard Problems with Safari latest s/ware and this site and links and adding code. Let me add the...

grimweasel47 Ok thanks Nicolas - could this be adapted to take into account MFI and then have price, volu...

Nicolas I don't understand what you mean exactly, would be better to open a topic about this idea wi...

bharatjai Script 'Adaptive ATR' has been saved line 24: no viable alternative at input 'lr' Gettin...

Nicolas download the itf file and import it into your platform.

Francis3332 Bonjour à tous, J'aime beaucoup cet indicateur et j'aimerais pouvoir l'utiliser sur la dern...

Nicolas Definition of CustomClose: https://www.prorealcode.com/documentation/customclose/ [2] means...

Bard Just wondered Nicolas, say you had set DEFPARAM CumulateOrders = True, is there anyway for t...

Bard Sorry pls ignore last image, try this - it actually has the Dev Stop indicator! https://www...

tradingpro salve io faccio spread trading e volevo sapere come impostare un profitto da chiudere in a...

Nicolas Per favore non fare domande generali, non correlate al post. Usa invece il forum.

Bard Incredible, that is the clearest depiction of the trend I've ever seen Nicolas. (I just chan...

Guppy’s CBL (Count Back Line)

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