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)

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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?

Nicolas Restart your platform in order to be sure to use the last version, there was a version rollb...

bertrandpinoy bonjour voud pouvez m envoyer le code modifier par vous?

Nicolas Désolé , je ne comprends pas votre question.

Nicolas Rien, il faut l'appliquer sur la charte. Soit le mettre sur le graphique du prix, à l'aide d...

signorini Merci pour votre réponse. Je l'applique sur la charte, j'utilise la petite clé pour effacer ...

signorini Je vous remercie, Nicolas. C'est fixé. Très bon week-end.

Guibourse Hi ! I am asking once again for your help : would it be possible to use the ATR as a "take p...

Tradingrob Many thanks for the indicator, however if the price is below the indicator, then the indicat...

aldtrading Merci pour ton travail ! J'ai de bons résultats en utilisant cet indicateur

Pelle Nævestad Thanks Nicolas, this is a keeper!

Chicane23 Hi, when uploaded the WAE isnt showing histogram; only line. Is there a way to modify?

Nicolas Change the way the lines are displayed in the indicator settings window : histogram, lines, ...

Dimi.A Perfect for counter-trend scalping. I like this!

viktorthuns Hi Nicolas! Great work you've done with all your indicators. Just wondering about the code a...

Nicolas the value is not a boolean but an average of an addition of booleans. As stated in the descr...

denmar Hi Could somebody please enlighten me how this code operates. I wish to use the code (is...

denmar Testing email notification to Denmar

David Black #gm74 Did you ever get this figured out? gm74

GraHal Hi Nicolas I like this and would like to understand it fully so please forgive the (maybe) d...

Nicolas Hi GraHal, the Factor parameter is only a multiplier of the ATR that is added or subtracted ...

GraHal Nicolas, thank you for your useful and informative response. Yes I optimise using ProBackte...

sr021 Hi I tried to copy and paste the code, but recieve the message : Syntax error:The followi...

Nicolas Hello, of course. You have 3 options : 1/ you download the file and import it into your plat...

Sofitech Bonjour. J'aimerais savoir s'il est possible de "truquer" un peu l'indicateur pour qu'il don...

Maz I actually like this very simple idea. It can also be useful for market micro-structure syst...

Nicolas Thanks Maz, I'll have a look tomorrow.

Guppy’s CBL (Count Back Line)

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