Breakout from a sideway market

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  • 01/18/2018 at 10:36 PM #59845 quote
    Mansoor
    Participant
    Average

    Fellow prorealtimers,

    What formula do you use to capture a breakout from sideway? (When price accelerates in one direction). Here is an example scenario on 1min timeframe:

    Price has been ranging between 100 and 105 for the last 10 minutes. At minute 11 it goes to 106, at minute 12 it goes to 107 at minute 13 it goes to 109…

    01/18/2018 at 11:09 PM #59848 quote
    Mansoor
    Participant
    Average

    There are many ways to do this. I was thinking something like:

    if close – close[3] > atr[10]

    or comparing short time ema with long time ema.

    Wondering what other people use

    01/18/2018 at 11:38 PM #59849 quote
    robertogozzi
    Moderator
    Master

    You may use Bollinger Bands and wait for their widening.

    01/19/2018 at 2:49 AM #59854 quote
    Mansoor
    Participant
    Average

    Thanks Robert. I will create an indicator with all these methods and share it here.

    I think formula based on atr would create better result. Let’s see

    01/19/2018 at 2:54 AM #59855 quote
    Nobody
    Participant
    Veteran

    Donchian channel and W%R 2 other existing indicators that may be of use for the intended purpose here  .  W%R in particular is a very overlooked indicator and measure new highs and or lows over ‘x’ period very well   . Its a versatile filter imo with many measurement abilities that are overlooked at first glance  ..

    01/19/2018 at 2:57 AM #59856 quote
    Wing
    Participant
    Veteran

    If you want breakouts from sort-of horizontal trend channels this might be of interest as an indicator: https://www.prorealcode.com/prorealtime-indicators/wings-trend-lines/

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Breakout from a sideway market


ProBuilder: Indicators & Custom Tools

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Mansoor @mansoor Participant
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This topic contains 5 replies,
has 4 voices, and was last updated by Wing
8 years ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 01/18/2018
Status: Active
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