Mult timeframe pin bar/trend

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  • #176325 quote
    MrMagic
    Participant
    Average

    Hi, I’d appreciate help with a multi timeframe screener please. Basically a pin bar (hammer, inverted, hanging man or shooting star) on M15 with an established trend (using EMA for the trend) in a higher timeframe, H1.

    Criteria for H1

    UP = EMA20 > EMA50 > EMA 100

    DOWN= EMA 100 > EMA50 > EMA20

    Criteria for M15

    Pin bar

     

    Thanks for your help

    KR,

    #176349 quote
    robertogozzi
    Moderator
    Master

    There you go.

    Timeframe(1h)
    Ema20     = average[20,0](close)
    Ema50     = average[50,0](close)
    Ema100    = average[100,0](close)
    UP        = Ema20 > Ema50 AND Ema50 > Ema100
    DOWN      = Ema20 < Ema50 AND Ema50 < Ema100
    Timeframe(15 minute)
    N         = 30
    Body      = abs(close - open)
    UPPERwick = high - max(open,close)
    LOWERwick = min(open,close) - low
    bb        = body <= (range / 3)          //body no longer than 1/3 of the range
    L1        = LOWERwick >= (range / 3 * 2) //LONG:  lower wick at least 2/3 of the range
    S1        = UPPERwick >= (range / 3 * 2) //SHORT: upper wick at least 2/3 of the range
    L2        = low  = lowest[N](low)        //LONG:  must be the lowest price in the last N periods
    S2        = high = highest[N](high)      //SHORT: must be the highest price in the last N periods
    Timeframe(default)
    Lcond     = UP   AND bb AND L1 AND L2
    Scond     = DOWN AND bb AND S1 AND S2
    Result    = 0
    IF Lcond THEN
       Result = 1
    ELSIF Scond THEN
       Result = 2
    ENDIF
    SCREENER[Result](Result AS "1=↑, 2=↓")

    I used SMAs instead of EMAs, because with the old ProScreener 100 periods are too many for EMAs as they need more than 254 bars to be calculated. If you lower the periods from 100 to approximately 70-80, or if you have the new version of ProScreener, just replace “,0]” with “,1]” when AVERAGE is used.

    I also added that PinBARs have to show only when they are at a highest or lowest. You can set N to any lookback period you need (no more than 254 with old ProScreener). To disable this feature, simply replace lines 15-16 with:

    L2        = 1//low  = lowest[N](low)        //LONG:  must be the lowest price in the last N periods
    S2        = 1//high = highest[N](high)      //SHORT: must be the highest price in the last N periods
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Mult timeframe pin bar/trend


ProScreener: Market Scanners & Detection

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MrMagic @mrmagic Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
4 years, 6 months ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 08/27/2021
Status: Active
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