Request coding for candles high / low in trend

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09/18/2021 at 1:47 PM #177843 quote

phoentzs
Participant

Master

Hi there,
I need a code for an indicator that shows the following rules. At best as a line similar to a Donchian?

The following rules:

H4 timeframe

Bullish:
EMA50> EMA50 [1]
Red candle (open> close)
Lowest high of the last RED CANDLE [5]

Bearish:
EMA50 <EMA50 [1]
Green candle (close> open)
highest low of the last GREEN CANDLE [5]

In addition, only those candles of the respective color that are in line with the trend of the EMA specification are taken into account.

The aim is to get a stop order at the respective point (high / low) as an entry condition for a trading system.
It is important that only candles of the respective direction / color are taken into account and that the entry point is then determined.

09/18/2021 at 2:02 PM #177844 quote

phoentzs
Participant

Master

Here is an instructional video of the original version of Long Hang Seng. I just added some rules of my own. Maybe you can also code the original setup to see which system is better? So two versions?

Short:

Long:

09/18/2021 at 4:23 PM #177852 quote
robertogozzi
Moderator

Master
Please:
- post your rules in details explaining what to do with it (Lowest high of the last RED CANDLE [5] isn’t clear)
- on which candle do you want the signal to be generated?
09/18/2021 at 4:59 PM #177855 quote

phoentzs
Participant

Master

Hang Seng’s original setup should explain the videos well.

My setup in short:

Long: EMA50 rises, stop buy order at the high of the lowest high of the last 5 RED candles.

Short: EMA50 goes down, stop sell short order at the low of the highest low of the last 5 GREEN candles.

Attached as a picture. Sorry for the quality. Created on the smartphone.

EA9239C1-8EAE-4049-8463-C9B6AE510502.jpeg F538567A-28FA-4099-AACE-D0DF2875A403.jpeg

09/18/2021 at 6:21 PM #177862 quote

phoentzs
Participant

Master

EurUsd short signals last week as a picture.

6167EB45-C3FA-4C19-8D82-CD26F26251E7.jpeg

09/19/2021 at 10:27 AM #177900 quote
robertogozzi
Moderator

Master
There you go:
```
Offset  = average[100,0](range)
Ema50   = Average[50,1](close)
EmaUP   = Ema50 > Ema50[1]
EmaDN   = Ema50 < Ema50[1]
Bullish = close > open
Bearish = close < open
Bulls   = 0
Bears   = 0
hh      = 9999999
ll      = 0
FOR i = 0 TO BarIndex
   IF Bullish[i] AND (Bulls < 5) THEN
      Bulls = Bulls + 1
      ll    = max(ll,low[i])
   ENDIF
   IF Bearish[i] AND (Bears < 5) THEN
      Bears = Bears + 1
      hh    = min(hh,high[i])
   ENDIF
   IF (Bulls >= 5) AND (Bears >= 5) THEN
      Break
   ENDIF
NEXT
IF Bullish AND EmaUP THEN
   IF close CROSSES OVER ll THEN
      DrawArrowUP(BarIndex,low - Offset) coloured(0,128,0,150)
   ENDIF
ENDIF
IF Bearish AND EmaDN THEN
   IF close CROSSES UNDER hh THEN
      DrawArrowDOWN(BarIndex,high + Offset) coloured(255,0,0,255)
   ENDIF
ENDIF
RETURN hh coloured(255,0,0,255) style(line,2) AS "SHORT entry",ll coloured(0,128,0,140) style(line,2) AS "LONG entry"
```
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