Rank: Newbie
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Joined: 11/22/2006(UTC)
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Having a hard time figuring this out. I want to be able to scan for stocks where the price or an indicator has broken past a given support level, then returned to touch (with a small tolerance accepted) the same line and reversed. For instance, if price crosses past 50, goes to 60, then goes back to between 49-51 and reverses, I want a signal. Of course, I want to be able to do this with oscillators and other indicators as well.
How would I go about this? I've programmed a bunch of indicators and experts, but having a hard time with the whole time shifting thing. :)
edit: I could figure out how to do it within a given range like 7 days, I think: look at the highest price and seeing if it's X% above the support line, then look for a cross say 7 days ago and a touch and reverse over the past 3 periods, but what I can't figure out is how to look for this 'pattern' over say a period of 5-20 days.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
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Medin
You could use a count and reset function. It could get a little bit tricky, but have a go yourself and if you get stuck, then post your best attempt at the code and ask for some more help, I am sure someone will come to your assistance.
The outline of the code is something along the lines of:
count:= Cum( Condition to count );
reset:= myResetCondition;
counter:= count - ValueWhen(1,reset,count);
Use this idea to count the instances of each of the events you are looking for, the events can be 'ordered' to form the required pattern...
Hope this helps.
wabbit [:D]
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