//PRC_Wick Pressure | indicator
//23.05.2022
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from pinescript
// --- settings
//atrmult = 0.7 //ATR Multiplier (The Wick area is filtered on the basis of atr and this is multiplier to that ATR. The more the multiplier value, the less the signals and vice versa)
//boxlength = 16 //Length of Wick Pressure Box
//rsiob = 60 //RSI based on which signnals are filtered
//rsios = 40 //RSI based on which signnals are filtered
// --- end of settings
meersi = rsi[14](close)
signal = 0
//bullish wick pressure
rsibullishcond = meersi < rsios or meersi[1] < rsios or meersi[2] < rsios
ll3 = lowest[3](low)
lc3 = min(lowest[3](close),lowest[3](open))
if low<=lc3 and low[1]<=lc3 and low[2]<=lc3 and open>=lc3 and open[1]>=lc3 and open[2]>=lc3 and lc3-ll3>(atrmult*AverageTrueRange[14](close)) and rsibullishcond and close>open then
drawrectangle(barindex,lc3,barindex+boxlength, ll3) coloured("green",50) bordercolor("green")
signal = 1
endif
//bearish wick pressure
rsibearishcond = meersi > rsiob or meersi[1] > rsiob or meersi[2] > rsiob
hh3 = highest[3](high)
hc3 = max(highest[3](close), highest[3](open))
if high>=hc3 and high[1]>=hc3 and high[2]>=hc3 and open<=hc3 and open[1]<=hc3 and open[2]<=hc3 and hh3-hc3>(atrmult*AverageTrueRange[14](close)) and rsibearishcond and close<open then
drawrectangle(barindex,hh3,barindex+boxlength, hc3) coloured("red",50) bordercolor("red")
Signal = -1
endif
return Signal AS "Signal"
Hello to everyone, I need an help how to implement this indicator in a strategy https://www.prorealcode.com/prorealtime-indicators/wick-pressure/, I’m still struggling with learning Code with PRT and this would be of great help. Original indicator by Nicholas was kindly modified by Roberto but I don’t have the knownledge to continue. When indicator gives Signal=1, I want to buy n shares, with stop loss under the limit of the box, viceversa with bearish signal I want to sell short, with stop loss over the limit of the rectangle. I’m not able to recall lc3, ll3, hc3 and hh3. anyone can suggest me how to do it? many thank’s in advance
Alessio
JSParticipant
Senior
You can turn this indicator into a trading system by “removing” all graphic elements and adding orders and possibly SL and TP…
DefParam CumulateOrders = False
// --- settings
atrmult = 0.7 //ATR Multiplier (The Wick area is filtered on the basis of atr and this is multiplier to that ATR. The more the multiplier value, the less the signals and vice versa)
boxlength = 16 //Length of Wick Pressure Box
rsiob = 60 //RSI based on which signnals are filtered
rsios = 40 //RSI based on which signnals are filtered
// --- end of settings
meersi = rsi[14](close)
signal = 0
//bullish wick pressure
rsibullishcond = meersi < rsios or meersi[1] < rsios or meersi[2] < rsios
ll3 = lowest[3](low)
lc3 = min(lowest[3](close),lowest[3](open))
if low<=lc3 and low[1]<=lc3 and low[2]<=lc3 and open>=lc3 and open[1]>=lc3 and open[2]>=lc3 and lc3-ll3>(atrmult*AverageTrueRange[14](close)) and rsibullishcond and close>open then
//drawrectangle(barindex,lc3,barindex+boxlength, ll3) coloured("green",50) bordercolor("green")
signal = 1
endif
If signal = 1 then
Buy 1 contract at Market
Set Stop Loss 10
EndIf
//bearish wick pressure
rsibearishcond = meersi > rsiob or meersi[1] > rsiob or meersi[2] > rsiob
hh3 = highest[3](high)
hc3 = max(highest[3](close), highest[3](open))
if high>=hc3 and high[1]>=hc3 and high[2]>=hc3 and open<=hc3 and open[1]<=hc3 and open[2]<=hc3 and hh3-hc3>(atrmult*AverageTrueRange[14](close)) and rsibearishcond and close<open then
//drawrectangle(barindex,hh3,barindex+boxlength, hc3) coloured("red",50) bordercolor("red")
Signal = -1
endif
If signal = -1 then
SellShort 1 contract at Market
Set Stop Loss 10
EndIf
