Fractal retracement

• 05/16/2017 at 9:38 AM #35677
  Elsborgtrading

  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

  Fractal retracement on 15 min TF

  //==============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]

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  //==============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]

   

  

  Elsborgtrading

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  05/16/2017 at 1:40 PM #35709
  Nicolas

  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.

   

   

  

  Nicolas

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  05/16/2017 at 3:58 PM #35717
  Elsborgtrading

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

  Thank Nicolas

  

  Elsborgtrading

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