Trend verification over last 8 bars

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Posts

01/24/2017 at 4:54 PM #22298 quote

Participant

Average

How do I verify the existence of a prior trend, say over the last 8 bars, without using moving averages for an indicator?

I found the following screener code below but want to convert it into an indicator and not sure how to test (Increase /NormalV), as I don’t know what it should compare against?

REM Determine the "force" of the preceding up trend.
// Find the lowest point over the last 8 bars
Low8 = lowest[8](Low)
// Determine the increase since this point
Increase = Close - Low8
// Determine the normal volatility of the security (median of true range over the last 3
bars)
NormalV = summation[3](TR) - highest[3](TR) - lowest[3](TR)
REM Condition: Bearish engulfing Engulfing
Filter = Close[1] > Open[1] AND Open > Close[1] AND Close < Open[1]
REM Display results. Sorting Criteria: Increase/NormalV (preceding up trend force)
SCREENER[Filter](Increase / NormalV AS "Up Trend Force")

01/24/2017 at 4:59 PM #22305 quote

Nicolas

Keymaster

Legend

Just remove everything related to “Filter” and use this line as the last one (delete the line 12 first).

RETURN Increase / NormalV AS "Up Trend Force"

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Trend verification over last 8 bars

ProBuilder: Indicators & Custom Tools

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This topic contains 1 reply,
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9 years, 8 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	01/24/2017
Status:	Active
Attachments:	No files