Double touch pattern

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  • 07/06/2022 at 9:10 AM #196861 quote
    James.adejare
    Participant
    New

    Can I get some help please regarding double touch patterns? I know there are posts on double top or bottoms but my request is slightly different.

    SCREENER criteria

    1. price bouncing off the same area within 50 periods.

    2. Short- bearish candle forming at area of previous and recent bearish candle (within 50 periods)

    3 Long. Bullish candle forming at area of recent bullish candle,

    I’ll appreciate your help.

    KR

    07/06/2022 at 10:23 AM #196872 quote
    Nicolas
    Keymaster
    Master

    How do you fine the “same area” in terms of price? A range of points or percent of price?

    James.adejare thanked this post
    07/06/2022 at 5:39 PM #196905 quote
    James.adejare
    Participant
    New

    Hi again,

     

    Struggling to come up with an answer to that but I know points will be hard and depend on the asset being traded. I have attached some pictures of what I’m looking for. Hope that helps

    Screenshot-2022-07-06-at-17.38.06.png Screenshot-2022-07-06-at-17.38.06.png Screenshot-2022-07-06-at-17.38.13.png Screenshot-2022-07-06-at-17.38.13.png
    07/07/2022 at 8:52 AM #196943 quote
    Nicolas
    Keymaster
    Master

    Ok, so looking for support resistance areas as a cluster of tops and bottoms formed with .. fractals maybe?

    These tops are aligned “visually”, but we have to code that, so that should be somehow calculated within a range of price.

    Anyway, I think this Double top and bottom screener, should make it: https://www.prorealcode.com/prorealtime-market-screeners/double-top-double-bottom-screener/

    Bunch of products about that patterns in the marketplace: https://market.prorealcode.com/?s=double+top&post_type=product

    James.adejare thanked this post
    07/07/2022 at 8:55 AM #196944 quote
    robertogozzi
    Moderator
    Master

    I coded this one:

    Periods = 50
HI      = highest[Periods](max(open,close))
LO      = lowest[Periods](min(open,close))
Bullish = close > open
Bearish = close < open
Scond   = Bullish[1] AND Bearish AND (max(high,high[1]) >= HI)
Lcond   = Bearish[1] AND Bullish AND (min(low,low[1])   <= LO)
Cond    = 0
IF Scond THEN
   Cond = 2
ELSIF Lcond THEN
   Cond = 1
ENDIF
SCREENER[Cond](Cond AS "1=↑,2=↓")

    and this is the indicator:

    DEFPARAM DrawOnLastBarOnly = true
Periods = 50
HI      = highest[Periods](max(open,close))
LO      = lowest[Periods](min(open,close))
DrawSegment(BarIndex[Periods - 1],HI,BarIndex + 1,HI) coloured(0,0,255,255)   //Blue
DrawSegment(BarIndex[Periods - 1],LO,BarIndex + 1,LO) coloured(255,0,0,255)   //Red
RETURN
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Double touch pattern


ProScreener: Market Scanners & Detection

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James.adejare @james-adejare Participant
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This topic contains 4 replies,
has 3 voices, and was last updated by robertogozzi
3 years, 8 months ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 07/06/2022
Status: Active
Attachments: 2 files
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