Simple 3-test breakout

• 02/20/2020 at 10:11 AM #120006
  adam felsman

  Hello Everyone,  my coding level is terrible but I’ve manage to get my main strategy working for proscreener.  I am wondering if anyone has successfully coded a 3-test of a horizontal line (support/resistance) scanner , part of my second strategy??  I can’t see anything in the library and would love some assistance.

   

  thanks,

  adam

  

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  02/20/2020 at 10:55 AM #120019
  robertogozzi

  First you have to determine the resistance (support is just the other way round).

  To do this you must choose a preferred period, say 100 bars:

  Resistance = highest[100](close)

  1	Resistance = highest[100](close)

  now you count the number of times price (high) has hit that resistance:

  x = summation[100](high >= Resistance) >= 3

  1	x = summation[100](high >= Resistance) >= 3

  x will be true when Resistance has been hit at least 3 times or more.

  (not tested)

  

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  02/20/2020 at 11:26 AM #120022
  adam felsman

  Thank you, I’ll give it a try tomorrow night.

  

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  02/20/2020 at 2:13 PM #120063
  robertogozzi

  I tested it and it seems not to work correctly. This should do, instead:

  p = 100 Resistance = highest[p](close) Count = 0 FOR i = (p - 1) DOWNTO 0 IF high[i] >= Resistance THEN Count = Count + 1 ENDIF NEXT SCREENER[Count >= 3](Count AS "Hits")

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  p          = 100 Resistance = highest[p](close) Count      = 0 FOR i = (p - 1) DOWNTO 0    IF high[i] >= Resistance THEN       Count = Count + 1    ENDIF NEXT SCREENER[Count >= 3](Count AS "Hits")

  and this is the indicator:

  DEFPARAM DrawOnLastBarOnly = true p = 100 Resistance = highest[p](close) Count = 0 FOR i = (p - 1) DOWNTO 0 IF high[i] >= Resistance THEN Count = Count + 1 ENDIF NEXT IF Count >= 3 THEN DRAWSEGMENT(BarIndex - (p - 1),Resistance,BarIndex,Resistance) ENDIF RETURN

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  DEFPARAM DrawOnLastBarOnly = true p          = 100 Resistance = highest[p](close) Count      = 0 FOR i = (p - 1) DOWNTO 0    IF high[i] >= Resistance THEN       Count = Count + 1    ENDIF NEXT IF Count >= 3 THEN    DRAWSEGMENT(BarIndex - (p - 1),Resistance,BarIndex,Resistance) ENDIF RETURN

   

  

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  02/20/2020 at 3:06 PM #120071
  Vonasi

  I have this indicator that I wrote a while back that might be of interest. It calculates a level mid way through the upper and lower shadow and then checks back through p bars to see how many other shadows crossed the same level. It draws extending lines at these levels if ‘tests’ quantity of shadow crosses are detected until a new level is found to have been tested.

  I might submit it to the library as I’d forgotten that I’d coded it!

  defparam calculateonlastbars = 1000 p = 200 tests = 3 if barindex >=tests then level = (high + max(open,close))/2 count = 1 draw = 0 for a = 1 to p if close[a] > level then break endif if high[a] >= level and max(close[a],open[a]) <= level then count = count + 1 if count = tests then startindex = barindex-a draw = 1 break endif endif next if draw = 1 then drawsegment(startindex,level,barindex,level) coloured(0,128,0) lastlevel = level else drawsegment(barindex-1,lastlevel,barindex,lastlevel) coloured(0,128,0) endif level2 = (low + min(open,close))/2 count = 1 draw2 = 0 for a = 1 to p if close[a] < level2 then break endif if low[a] <= level2 and min(close[a],open[a]) >= level2 then count = count + 1 if count = tests then startindex2 = barindex-a draw2 = 1 break endif endif next if draw2 = 1 then drawsegment(startindex2,level2,barindex,level2) coloured(128,0,0) lastlevel2 = level2 else drawsegment(barindex-1,lastlevel2,barindex,lastlevel2) coloured(128,0,0) endif endif return

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  defparam calculateonlastbars = 1000   p = 200 tests = 3   if barindex >=tests then   level = (high + max(open,close))/2   count = 1 draw = 0 for a = 1 to p if close[a] > level then break endif if high[a] >= level and max(close[a],open[a]) <= level then count = count + 1 if count = tests then startindex = barindex-a draw = 1 break endif endif next   if draw = 1 then drawsegment(startindex,level,barindex,level) coloured(0,128,0) lastlevel = level else drawsegment(barindex-1,lastlevel,barindex,lastlevel) coloured(0,128,0) endif   level2 = (low + min(open,close))/2   count = 1 draw2 = 0 for a = 1 to p if close[a] < level2 then break endif if low[a] <= level2 and min(close[a],open[a]) >= level2 then count = count + 1 if count = tests then startindex2 = barindex-a draw2 = 1 break endif endif next   if draw2 = 1 then drawsegment(startindex2,level2,barindex,level2) coloured(128,0,0) lastlevel2 = level2 else drawsegment(barindex-1,lastlevel2,barindex,lastlevel2) coloured(128,0,0) endif endif   return

   

  

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