How to define only the first correction after the start of a new trend

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Viewing 13 posts - 1 through 13 (of 13 total)
  • 03/21/2021 at 12:03 PM #164796
    tijuanataxi

    How to define the exclusive output of the first correction after the start of a new trend?

    Dear all!
    Unfortunately I am still quite inexperienced and I have no idea how to solve this. I am asking for the output of the first correction after the start of a new trend in the screener.
    Trend is defined as EMA 100 > EMA 200, as well as momentum higher timeframe. (that is clear)
    Correction is to be defined by a negative histogram for uptrends or vice versa.

    I want to avoid the output of further corrections in the trend, only the first correction should be relevant. I hope someone can possibly solve this. Many thanks in advance.

    03/21/2021 at 12:48 PM #164799
    robertogozzi

    I tested it and it seems to work as expected:

     

    1 user thanked author for this post.
    avatar tijuanataxi
    03/21/2021 at 1:30 PM #164802
    tijuanataxi

    wow, that was really fast, thanks a lot! But as far as I can see I’m not getting the results I want, I only changed the code slightly because I am using a very slow macd (30/60/25). e.g. usdhuf, tf 1 hour, is returned as hit, but there is already the 4th correction (macd negative). But anyway I got an idea how I can fix this. Thanks a lot

    I used

     

    03/21/2021 at 4:16 PM #164811
    tijuanataxi

    I think i have to add a count so that the flags / histogram are counted while the trend is still present and an output only occurs when count = 1.

     

    09/20/2021 at 1:42 PM #177977
    tijuanataxi

    Hi guys, I haven’t dealt with this question for a while and would now like to try to get an answer. The above code does not give the desired results in the screener. The question would be the first correction defined as a MACD cross after the start of a trend, e.g. by an EMA cross. Unfortunately, my knowledge is not sufficient for this. Maybe someone has an idea.

    09/20/2021 at 3:04 PM #177979
    Swingueur

    Hello,
    Indeed you may need a count. Though the code of @robertogozzi looks good, I would try something like this (not tested):

    09/20/2021 at 3:17 PM #177980
    tijuanataxi

    Line 5 to line 17 makes perfect sense to me, but I don’t understand counting events logically.
    The suggested code unfortunately does not work and gives no results. It seems that the counting does not work.
    Thanks nevertheless!

     

    09/21/2021 at 6:09 AM #178008
    Swingueur

    Hello,
    To better know how the code works, you may start to develop an indicator to put on price that will show your signals. Then you will be able to screen more confidently I believe.

    PS: The screener may be SCREENER[CrossOver and MacdCross and Flag=1]

    09/21/2021 at 7:09 AM #178012
    robertogozzi

    My code is working as expected, with any MACD setting you choose, as from my pic.

    Try increasing the units on your chart, an Ema200 will require many more bars than its periods to be correctly calculated. Use at least 1K bars.

     

    09/21/2021 at 8:15 AM #178026
    tijuanataxi

    I’m sorry, but I don’t think that’s the case.
    Attached is the screener, as well as the results in 4 hours.
    As an example USDCAD – it gives me every single correction, but only the very first is asked for.

    09/21/2021 at 8:20 AM #178032
    robertogozzi

    Yes, you asked for the very first one in your first post “I am asking for the output of the first correction after the start of a new trend in the screener“.

     

    09/21/2021 at 8:33 AM #178037
    tijuanataxi

    Yes, indeed, and can write a code for a screener that gives me any correction, but I am not able to filter only the first correction after the start of a new trend – that is what I want to learn

    09/21/2021 at 8:59 AM #178047
    robertogozzi

    This one will allow you to detect a) the first correction only or b) all corrections:

    simply change 1 to 0 in line 4 to detect ALL corrections.

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