Breakout Strategy

• 03/21/2016 at 1:08 PM #4038
  Delta

  Hello

  I have a simple query regarding a breakout strategy. I am trying to test a breakout strategy where I would like to get the High and the low between certain time frames in the day. For e.g. The hi and lo between 11:00 PM to 12:30 AM.

  Firstly, I would like to know the code to identify the hi and low levels between the time frames mentioned above (11:00 PM – 12:30 AM).

  After the first step I would like to know the code to identify the breakout bar. The condition for a successful breakout is the bar should open inside the range defined in the first step but close outside the range defined.

  Kindly check the image file link or the attachment for better clarity.

  http://postimg.org/image/3vitfqp0t/

  I would really appreciate if anyone can help me with my query.
  Thank you

  D

   

   

  

  Delta

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  03/29/2016 at 8:21 AM #4552
  Nicolas

  Hello Delta,

  I made a little indicator to show you how to deal with finding highest and lowest between 2 hours. (please find attached a file and a screenshot of the indicator). You’ll find it easy to include that code into your automated trading strategy.

  starttime = 050000 endtime = 090000 if intradaybarindex=0 then hh = 0 ll = 0 endif if time>=starttime and time<=endtime then if high>hh then hh = high endif if low<ll or ll=0 then ll = low endif endif RETURN hh,ll

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  starttime = 050000 endtime = 090000   if intradaybarindex=0 then hh = 0 ll = 0 endif   if time>=starttime and time<=endtime then if high>hh then   hh = high endif if low<ll or ll=0 then   ll = low endif endif   RETURN hh,ll

   

   

  

  Nicolas

  Keymaster

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