Hi all, i came up with this idea for my <= 4h systems and got some interesting results testing it out, nothing amazing but definitly interesting results.
So the idea is that you run my “Force” indicator on a higher timeframe (4h,8h,12h,daily,weekly) and u ask for Force >= n1 and Force <= n2
As i was building this i thought “maybe someone else has thought about the same thing in the forums” so here i am, anyone using a good filter on higher timeframes that they would like to share?
Was also thinking about same filter but maybe with RSI and a moving average of it.
Also aware that u can write this alot shorter, but after attempt #5 i said “fuck it” and just wrote it as basic as can be.
Btw i have very little experience in coding in probuilder so please check this code to see if its actually doing what u want it to do! I might have still fucked something up lol.
In fact with some simple modifications of this version you can check for more levels being passed and so get a very different return for force. More to optimize!
I couldn’t resist playing with it a little bit more. I added start, end and step variables for the STD levels and also a variable to allow different average types to be tested. Now we can optimize a whole bunch of variables! I also added rising and falling colour to the line.
I can post it to the library if you want me to Jebus89 – obviously co-crediting you with the idea!
swapping – Thanks for adding the ITF file – I modified line 2 in the post as technically the code is mine and the idea is Jebus89’s.
In answer to Jebus89’s original question I do recall coding something similar once before for a strategy that checked how many averages in a row a closing price closed under or over and then adjusted position size based on this. I don’t think that I ever put it in live demo as some of the draw downs were massive – but that is averaging down for you!
Maybe the idea needs revisiting on standard deviations of other indicators on longer time frames as a market sentiment filter as suggested by Jebus89.
Great! Fantastic job Vonasi, have been busy all weekend but im looking forward to testing out your code 🙂 Im glad u like my idea.
Whole thought process behind this was “do i really want to do a mean reversion trade, if price on higher timeframe is already at an extreme point” similar to “do i want to buy this breakout if price on higher timeframe is already above an important breakout/below an important breakout level”
Im gonna tinker on more ideas regarding this, thought being if you can analyze where price is in the current timeframe, you should probably analyze a higher timeframe to make sure you are where you want to take the trade, in multiple timeframes.
Buenas tardes, no se si podre ayudar,agregarlo en conjunto con el rsi es una buena opción, una sma21 junto a otro indicador de fuerza adx niveles di/-di entre 20/26..realmente llamativo.. Me gustaría que alguien lo probara.. porque yo soy incapaz de programarlo.. Sma 21 en conjunto cruce 20/26di/-di..
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