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]
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.
Ahh of cause, Yet again I failed to the the forest because of the trees 🙂
Thank Nicolas