As far as I understand from what I’ve read so far in this forum, Prorealtime is not capable of creating a screener based on Darvas Boxes (correct me if I’m wrong). However, after seeing this detailed video about a Darvas Boxes screener clearly based on Tradingview, I believe something similar could be possibly developed. I don’t have the required skills to do it. Here is the video, please check it out and let me know if this is doable. Thank you.
These are a couple of links to the indicator https://www.prorealcode.com/prorealtime-indicators/darvas-boxes-2/, https://www.prorealcode.com/prorealtime-indicators/darvas-boxes/. Which one are you using?
What signal should the screener return (when the box is broken)?
Hi Roberto, I was only aware of the first link. The needed signal should be buy at breakout. Having such a screener would be great. Check this interesting article “The 7 Best Price Action Patterns Ranked by Reliability”: https://samuraitradingacademy.com/7-best-price-action-patterns/
The statistics on the price action of 7 patterns were accumulated through testing of 10 years of data and over 200,000 patterns. In all these cases the price action patterns were only included once they were considered to be complete, which usually means a full break of a support/resistance area or trendline.
All the main patterns (excluding Cup & Handle) were examined and Darvas Boxes was the second most reliable one.
Therefore, getting such a screener would be extremely interesting for all the community.
Hi Roberto, did you see my previous post? What do you think about it?
Sorry, I didn’t have a chance to read it. I’ll take an in-depth look at it asap 🙂
There you go (based on the indicator at https://www.prorealcode.com/prorealtime-indicators/darvas-boxes-2/):
// Darvas Boxes 2
//
// https://www.prorealcode.com/prorealtime-indicators/darvas-boxes-2/
//
//============================== Indicateur
once DownBoxe=undefined
once UpBoxe=undefined
c1 = 0
IF close CROSSES OVER UpBoxe THEN
c1 = 1
ENDIF
IF close CROSSES UNDER DownBoxe THEN
c1 = 2
ENDIF
if box=1 and (high>DownBoxe or low<UpBoxe) then
box=0
flag=0
endif
if box=0 and flag=0 and low>low[3] and low[1]>low[3] and low[2]>low[3] then
th=low[3]
flag=1
endif
if flag=1 and box=0 and low<th then
flag=0
endif
if flag=1 and box=0 and high<high[3] and high[1]<high[3] and high[2]<high[3] then
DownBoxe=high[3]
UpBoxe=th
box=1
endif
SCREENER[c1 AND close > 20](c1 AS "1=↑, 2=↓")
Thank you very much Roberto! I hope this will be useful to all of the Prorealtime users.
Is it possible for the box to be 2 to 8 weeks in duration? And on the daily or weekly charts? Many thanks.
