Coding an entry for when PRT bands turn from red to green?

• 05/26/2021 at 10:13 AM #170461
  Moose

  Hi! I’ve been trying to use PRT bands in my trading systems but have a problem with coding an entry for when the bands switches from red to green. The start of every green period is obviously when price closes above the upper band, however this occurs many times during a green period as well. I would lika a signal that only activates when it turns from red to green. Can I somehow use the color itself and if the indicator returns green or red? But how should I code that?

  

  Moose

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  05/26/2021 at 11:12 AM #170476
  nonetheless

  I don’t normally use PRT bands so someone more familiar with them may know a better way of doing this, but it looks like a change of the medium-term line mostly leads to a change in the colour zone, which means you could try this:

  // Conditions to enter long positions indicator1 = PRTBANDSMEDIUMTERM c1 = (indicator1 > indicator1[1])

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  // Conditions to enter long positions indicator1 = PRTBANDSMEDIUMTERM c1 = (indicator1 > indicator1[1])

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  05/26/2021 at 11:21 AM #170478
  Moose

  Thank you for your answer. I’ve scrolled through the graf and it seems that when PRTBANDMEDIUMTERM = PRTBANDSDOWN a color change is prompted from red to green. Could this relationship be the “secret” behind all the red to green switches?

  

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  05/26/2021 at 11:47 AM #170485
  nonetheless

  That seems to be the case rising, but not falling.

  On 1 hour DAX, the medium line turned down at 1900 yesterday but it was nowhere near the upper or lower lines. At 20:00 the colour zone turned red.

  Similarly May 18 14:00

  In any case, I doubt if you could use this on it’s own as an entry condition as it’s very laggy – perhaps in conjunction with some other indicator.

  

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  05/26/2021 at 5:14 PM #170535
  nonetheless

  had another look at this, the band changes colour when the candle closes above or below the upper/lower line. so the code would be:

  //red to green indicator1 = PRTBANDSUP c1 = (close > indicator1) //green to red indicator2 = PRTBANDSDOWN c2 = (close < indicator2)

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  //red to green indicator1 = PRTBANDSUP c1 = (close > indicator1)   //green to red indicator2 = PRTBANDSDOWN c2 = (close < indicator2)

  

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  05/26/2021 at 7:29 PM #170550
  Moose

  Yes, that is true. When changing from green to red that is the only condition needed.

  Another issue would be to identify when price is in a “green trend”. For example that a trade can only be made if the overall trend is in “green”. We have identified how to code the switch between trends but how do we determine that the price is in the right trend; green or red?

  

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  05/27/2021 at 10:12 AM #170594
  PastaPesto

  Hi Moose

  Sorry but I didnt manage to insert link, so I just write it below 🙂 If I understand your question correct I would have done the below:

  if close>PRTBANDSUP then
  Greentrend=1
  endif
  if close<PRTBANDSDOWN then
  Greentrend=0
  endif

  And then use greentrend as one of the rules rule for order. The opposite code ofcourse for “redtrend”. Hope that helps.

   

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  05/27/2021 at 11:37 AM #170600
  Moose

  Hej PastaPesto!

  Yes, thank you. That is a very good solution to use 1 or 0 as the on and off switch for trends 🙂 Perfect.

  

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  05/28/2021 at 7:53 AM #170653
  murre87

  Hi @Moose
  I think this is a very intresting idea.
  If u come up with a code i would be intressted to test it

  

  murre87

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