Crosses of a level

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04/22/2016 at 9:49 AM #5786 quote

minmax
Participant

Average

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

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

Legend
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
```
04/22/2016 at 10:59 AM #5794 quote

minmax
Participant

Average

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
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Crosses of a level

ProOrder: Automated Strategies & Backtesting

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minmax @minmax Participant

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This topic contains 2 replies,
has 2 voices, and was last updated by minmax
10 years, 4 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	04/22/2016
Status:	Active
Attachments:	No files

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