Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 1/1/2006(UTC)
Posts: 39
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I have been playing lately with a new indicator based on an article "Confirming High-Probability Turning Points" from the October 2006, TASC magazine.
The problem I have is that during strong bull markets the indicator produces too many signals, and I have not thought of a good filter for this problem.
I suspect that the problem lies in my implementation to analyze the volume component. I was wondering if somebody else has some better ideas for the volume portion (or other portions of the code).
Sell Volume Indicator
closebelowhalfrange:= C <= (H+L)/2;
gapping:=GapUp() OR Ref(GapUp(),-1);
gapandbelow:=gapping AND closebelowhalfrange;
pricevolup:=(V>Ref(V,-1) AND V>Ref(V,-2)) AND (RallyWithVol() OR Ref(RallyWithVol(),-1));
priceup:=L>Ref(L,-20) AND L>Ref(L,-1) AND L>Ref(L,-2);
priceandvolume:=gapandbelow AND pricevolup AND priceup;
priceandvolume;
Regards,
FXLearning
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