Fractal retracement

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  • #35677 quote
    Elsborgtrading
    Participant
    Veteran

    Hi. I’m trying to code a screener that screens for a BillW fractal retracement in a uptrend. Doesn’t seem to work, and I cant quite see the problem. I have attached a screendump, one for how it should work, and one for how it works

    It screens for EMA50>EMA200 detection on 1H TF, and EMA23>EMA200 and EMA23>EMA50in 15 min TF to establish trend. Then also on a 15 min TF when we make one lower fractal than the previous one I’d like to signal, but it does not work. maybe it’s something fundamental about screeners that I didn’t quite catch, but I’d appreciate your help on this one 🙂

    Cheers Kasper

    //==============BUY SIGNALS
    MyEMA23=ExponentialAverage[23](close)
    MyEMA50=ExponentialAverage[50](close)
    MyEMA200=ExponentialAverage[200](close)
    
    REM The following code is related to this timescale:daily
    
    TIMEFRAME(1H)
    
    if MyEMA50>MyEMA200 then
    EMAind1H=1
    else
    EMAind1H=0
    endif
    
    
    TIMEFRAME(15 minute)
    cp=2
    if high[cp] >= highest[2*cp+1](high) then
    LH = 1
    else
    LH=0
    endif
    if MyEMA23>MyEMA200 and MyEMA23>MyEMA50 then //myadx and
    EMAind=1
    else
    EMAind=0
    endif
    if EMAind=1 and LH<LH[1] then
    Entry2=1
    else
    Entry2=0
    endif
    SCREENER[EMAind1H and Entry2]
    
    Screenshot_39.jpg Screenshot_39.jpg Screenshot_41.jpg Screenshot_41.jpg Screenshot_40.jpg Screenshot_40.jpg
    #35709 quote
    Nicolas
    Keymaster
    Legend

    You don’t test at all any lower fractal than the previous one! 🙂 (LH give you a boolean result, not the last fractal level).

    Also, please consider that an EMA200 could potentially not be correctly calculated because of the 254 bars limitations of ProScreener.

    #35717 quote
    Elsborgtrading
    Participant
    Veteran

    Ahh of cause, Yet again I failed to the the forest because of the trees 🙂

    Thank Nicolas

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Fractal retracement


ProScreener: Market Scanners & Detection

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

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 05/16/2017
Status: Active
Attachments: 3 files
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