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Date/Time: Mon, 20 May 2024 18:06:45 +0000

Post From: Does SC have a one time framing up and one time framing down indicator?

[2021-02-20 12:18:00] Link To Thread - Link To Post [Go To First Post]
User877753 - Posts: 152
Suppose I create an Input called Number of Ticks (call it N) in conjunction with the Tick Size (s). Would you agree that the following formulas would be correct? OTF(Up): L[1] > L - Ns OTF(Down): H[1] < H + Ns Hi Tom, Taking into account Number of Ticks and Tick Size is a great idea. So I understand that : CL : Tick Size =1 Number of Ticks = 2 Ns = 2 cents NQ : Ticks Size = 4 Numbert of Ticks = 5 Ns = 5 points Am I correct ? However, I realize that I made a stupid mistake in post 19 and that I misled you - sorry about that. So let start over : here is my suggestion. Condition for OTF(up) state entry : L[2] < L[1] AND L[1] < L // We want two successive strict clean Higher Lows See image for illustration of strict higher highs ; CL, 15 mn TPO, 2 ticks For futher evaluation of OTF(up) state, I define a threshold level : LastStrictHigherLow, noted LSHL. I will compare current Low to this threshold, as I don't want an endless downside drift each time within the Ns limit. Condition for OTF(up) state exit : LSHL=max(LSHL[1),L[1]) // LSHL is the max of previous Last Strict Higher Low and previous Higher Low LastStrictHigherLow - Ns > L // Compares last Low below previous Low minus N*s Jope this help. Sorry again for my mistake. JM


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