Crosses of a level

• 04/22/2016 at 9:49 AM #5786
  minmax

  I have seen that the market will often test support/resistance levels 3 times before proceeding to the next level, I can’t work out the best way to keep track of the number of crosses (closes above/below?) in code, please help.

  Regards

  Steve

  

  minmax

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  04/22/2016 at 9:59 AM #5788
  Nicolas

  What kind of support / resistance do you want to test?

  Test if price has crossed up or down a resistance/support price and count it by incrementing a variable.

  This is an example with a rebound on a moving average:

  mm = average[20](close) IF low < mm AND close > mm THEN count = count + 1 ENDIF IF count = 3 THEN BUY 1 LOT AT MARKET // RESET COUNT count = 0 ENDIF

  1 2 3 4 5 6 7 8 9 10 11

  mm = average[20](close)   IF low < mm  AND close > mm THEN count = count + 1 ENDIF   IF count = 3 THEN   BUY 1 LOT AT MARKET // RESET COUNT count = 0 ENDIF

   

   

  

  Nicolas

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  04/22/2016 at 10:59 AM #5794
  minmax

  Thanks Nicolas, that looks really interesting.

  It could be any support/resistance level, such as a pivot, a moving average, a high/low, a round number, I think your code will work for them all, just modify the mm entry.

  Regards

  Steve

  

  minmax

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