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Hi, all,
I am trying to use the following criteria to determine the
market trend:
1) Market is in UP trend when:
any CLOSE (AFTER the previous DOWN trend trigger) crosses
up (lowest HIGH occurred AFTER previous DOWN trend trigger * (1 +
10%))
2) Once in UP trend, we start looking for DOWN trend, which
is:
you guessed it, when any CLOSE (AFTER the previous UP
trend trigger) crosses down (highest LOW occurred AFTER previous UP
trend trigger * (1 - 10%))
3) You stay in UP trend until a DOWN trend is identified, you
stay in DOWN trend until an UP trend is identified.
4) an indefinite time can pass AFTER the (lowest HIGH) or
(highest LOW) threshold is identified until a trend is trigged
because of this adjustable % (10% here), so that this threshold can
be violated but NO trend changed, or they can be violated without new
trend then another threshold is confirmed and new value to determine
the trend change recalculated.
5) Since this indefinite time duration issue, a fixed look
back does not do it.
It is very easy to identify visually but I have hard time
implementing this, any help is appreciated.
Best without using script, but any solution is welcome.
Thanks
Thomas
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