3 tapes LR indicator to screener

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09/20/2019 at 3:26 PM #108093 quote

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Greetings fellow PRT community.

I’m new to PRC, however, after trying unsuccessfully to create something I found the 3 tapes LR Indicator ready done. https://www.prorealcode.com/prorealtime-indicators/3-linear-regression-tapes-indicator/

I tried to turn this into a screener, so that it would alert when multiple time frames lined up. However, I understand that PRT screeners don’t support multiple time frame yet, and the simple creation doesn’t really work!

Ideally I’m trying to make it so that when 4 hour chart, one hour chart meet conditions (3 light, or 2 light), and THEN the 15 min chart indicates 3 light, that the screener would activate to alert of a possible entry. Likewise the same for the negative Dark zones for the shorts.

I don’t know if anyone has already done this and I’ll keep learning until I work out how to…

Thanks anyway!

01/05/2021 at 4:09 AM #156373 quote

robertogozzi

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You must have misunderstood (or misread) something, ProScreener was the first tool to support MTF (but for the Monthly one), a few years later ProOrder did the same (Monthly included) for strategies and, the most recent one, ProBuilder for indicators, completed the lineup a few months ago.

Firstly I modified the indicator to return simple numeric values easy to identify, 1 to 4 and -1 to -4.

// 3 tapes LR indicator SIGNAL
//
// https://www.prorealcode.com/prorealtime-indicators/3-linear-regression-tapes-indicator/
//
// modified to return numeric values:
//
//    1 to  4 for LONG  signals
//   -1 to -4 for SHORT signals
//
periode1 = 10
periode2 = 14
periode3 = 30
Signal   = 0
//___________________________________________
RLx1 = LinearRegression[periode1](close)
// Création du bandeau
If RLx1[0] > RLx1[1] then
Signal = Signal + 1
Elsif RLx1[0] < RLx1[1] then
Signal = Signal - 1
Endif
//____________________________________________
RLx2 = LinearRegression[periode2](close)
// Création du bandeau 2
If RLx2[0] > RLx2[1] then
Signal = Signal + 1
Elsif RLx2[0] < RLx2[1] then
Signal = Signal - 1
Endif
//____________________________________________
RLx3 = LinearRegression[periode3](close)
// Création du bandeau 3
If RLx3[0] > RLx3[1] then
Signal = Signal + 1
Elsif RLx3[0] < RLx3[1] then
Signal = Signal - 1
Endif
//____________________________________________
//Création du bandeau 4 qui ne sert qu'à obtenir une égale hauteur d'histogrammes pour les 3 courbes précédentes
RLx4 = LinearRegression[2](close)
If RLx4[0] > RLx4[1] then
Signal = Signal + 1
Elsif RLx4[0] < RLx4[1] then
Signal = Signal - 1
Endif
//____________________________________________
Return Signal AS "Signal"

Then I coded the scereener:

TIMEFRAME(4 hour)
Signal4  = CALL "3 tapes LR indicator SIGNAL"
TIMEFRAME(1 hour)
Signal1  = CALL "3 tapes LR indicator SIGNAL"
TIMEFRAME(15 minute)
Signal15 = CALL "3 tapes LR indicator SIGNAL"
TIMEFRAME(default)
Cond     = 0
IF (Signal4 >= 2) AND (Signal1 >= 2) AND (Signal15 >= 3) THEN
Cond = 1
ELSIF (Signal4 <= -2) AND (Signal1 <= 2) AND (Signal15 <= -3) THEN
Cond = 2
ENDIF
SCREENER[Cond AND close < 5](Cond AS "1=↑, 2=↓")

the screener returns 1 for positive values and 2 for negative values, since it cannot return negative values, unlike indicators.

3-tapes-LR-indicator-SIGNAL.itf MyProScreener-3tapes.itf