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In one of the routines I collected from the forum, I believe you wrote the following AFL attached below .
I'm wondering if you would present some details on how you would use the LookBack and Shift
parameters.
For example a 20 or 22 day look back would be what is said used by
the Turtle traders, but what effect does changing the SHIFT parameter have?
I've used this as an algorithm in a trading strategy and optimized the two parameters,
but this was brute force approach since I really didn't understand the interaction of the two
parameters and the color coding of the price line.
I would appreciate any comments or pointing me to a resource/forum email where this was
discussed.
Best regards
joe landry
PS Thanks for all your contributions. I probably have more DT code than any other in my indicator window
and my InfoSelect AFL database.
// For Indicator Window NAME: Break Outs - DT
// Dimitris Tsokakis
// An Indicator Plots a high and low bar and color codes the price line for bullish breaks
//
H0=H;
L0=L;
C0=C;
O0=O;
Lookback=Param("LookBack",22,10,50,1); // Default for interday commodity currency trading
shift=Param("Shift", 11,1,50,1); // ?
x0=LastValue(Cum(1));
x1=x0-shift;
H=Ref(H,-shift+1);
L=Ref(L,-shift+1);
H1=LastValue(Ref(HHV(H,Lookback),-1));
L1=LastValue(Ref(LLV(L,Lookback),-1));
Plot(H1,"H1",colorYellow);
Plot(L1,"L1",colorYellow);
H=H0;L=L0;C=C0;O=O0;
up=Cross(H,H1) AND Cum(1)>x1;
dn=Cross(L1,L) AND Cum(1)>x1;
Plot(C,"Close",IIf(Cum(1)>x1-Lookback AND Cum(1)<=x1,colorBlue,IIf
(Up,colorBrightGreen,IIf( Dn,colorRed,colorBlack))),64);
PlotShapes(shapeDownArrow*(Cum(1)==x1+1),colorBlue);
[Non-text portions of this message have been removed]
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