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Highs and Lows based on Stochastic Cycles

Malend · 2020-10-02T09:27:26+00:00

Hello, I am busy with a indicator which marks the highs and lows of price based on the stochastic cycle, after the stochastic cycle has closed. A cyclehigh is where %D > 50 and a cyclelow is where %D 50 and at the candle with the lowest low when the stochastics D < 50. And preferable that is tells me also if this highest high is higher or lower then the previous highest high from the previous cycle. I manage to program to define the highest high and lowest low, and also the previous highest high and lowest low but I only manage to show them as lines. That makes to much noise in my charts so I am looking for a way where I can mark ONLY the candles with the highest high and the lowest low in the cycle and preferable that is tells me also if this highest high is higher or lower then the previous highest high from the previous cycle. So my challenge is in the part where I want to DrawText and define the candle where to do draw text. It needs to mark the highest high when the cycle high is over and not during the cycle high. And if the macd has made a lower high during that cycle high. // This indicator marks highs and lows based of price and macd based on the Stochastic cycle K = stochastic[5,3] D = average[3](K) sma20 = average[20] macdl = macdline[5,20,30] //start of cycle low looking for the lowest price and lowest MACD as long as Stochastic %D 50 then incyclelow = 1 lowestprice2 = lowestprice Lowestprice = low macdlowest2 = macdlowest macdlowest = macdl endif //End of cycle low If K => 50 and K[1] 50 If D => 50 and D[1] 50 then incyclehigh = 0 endif //highest stoch and price in cycle high if incyclehigh then highestPrice = max(highestPrice, high) macdhighest = max(macdhighest, macdl) endif //LONG if incyclelow = 0 and lowestprice > lowestprice2 then DRAWTEXT ("HLP", barindex, low-0.0008, Dialog, Bold, 10) COLOURED(0,0,0) endif if incyclelow = 0 and macdlowest > macdlowest2 then DRAWTEXT ("HLM", barindex, low-0.0010, Dialog, Bold, 10) COLOURED(0,0,0) endif //SHORT if incyclehigh=0 and highestprice < highestprice2 then DRAWTEXT ("LHP", barindex, high+0.0008, Dialog, Bold, 10) COLOURED(0,0,0) endif if incyclehigh =0 and macdhighest < macdhighest2 then DRAWTEXT ("LHM", barindex, high+0.0010, Dialog, Bold, 10) COLOURED(0,0,0) endif return lowestprice as "lowest price in cycle low",macdlowest as "lowest macdline in cycle low", lowestprice2 as "previous lowest price in cycle low", macdlowest2 as "previous lowest macdline in cycle low", highestprice as "highest price in cycle high",macdhighest as "highest macdline in cycle high", highestprice2 as "previous highest price in cycle high", macdhighest2 as "previous highest macdline in cycle high" In my indicator you see the highs and lows and the previous highs and lows. Red = lowest price Purple = previous lowest price Green = highest price Light blue = previous highest price The signal from theHH HL LL and LH from the macd can also be done in a seperate indicator if it isn’t possible to combine them, The thing with the MACD of course is that the visibilaty of the signal depends on waht you trade.

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ProBuilder: Indicators & Custom Tools
Highs and Lows based on Stochastic Cycles

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02/24/2024 at 11:13 AM #228681 quote

JS
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Master

Fifi and Gregoire would say “you can’t use graphic elements in a strategy”… 🙂

02/26/2024 at 9:49 AM #228742 quote

Madrosat
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Master

Hello JS

Then how take a position as close as possible to the segments

Do you have some advice
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Highs and Lows based on Stochastic Cycles

ProBuilder: Indicators & Custom Tools

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Malend @malend Participant

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This topic contains 16 replies,
has 6 voices, and was last updated by Madrosat
2 years, 7 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	10/02/2020
Status:	Active
Attachments:	4 files

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Highs and Lows based on Stochastic Cycles

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Highs and Lows based on Stochastic Cycles ProBuilder: Indicators & Custom Tools

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Highs and Lows based on Stochastic Cycles

ProBuilder: Indicators & Custom Tools