[amibroker] Re: How to wait for the Top or Bottom of the previous bar to be taken out?

["chetan_gariki" <chetan.gariki@xxxxxxxxx>]

Hello Ed,

Thats quite right except that to enter a long trade the only 
condition that is required is that the previous bar is green and you 
have atleast 3 down bars before the green bar. i.e., 

bc1 = Ref(tt >= 3,-1) AND (C > O) AND dmap > 0;   

Infact, in the seminar, the setup was to enter intraday as soon as 
the last redbar's (downday's) low was taken out. But for EOD i think 
this setup is close enough. BTW, his presentation is very 
entertaining.
 

thanks 
Chaitanya.


--- In amibroker@xxxxxxxxxxxxxxx, "Edward Pottasch" <empottasch@xxx> 
wrote:
>
> Chaitanya,
> 
> not exactly sure if I have understood your system but here is my 
interpretation below. When in a long term uptrend the price moves 
down 5 consecutive bars and then closes green including a higher high 
is set then buy the next bar at the open, similar story for short, 
> 
> Ed
> 
> 
> per =220; 
> 
> // use map for the trend indicator 
> map = MA(C,per); dmap = map - Ref(map,-1); 
> 
> // number of downbars 
> tt = NumDownBars = BarsSince( C >= Ref(C,-1)); 
> // number of up bars 
> ss = NumUpBars = BarsSince( C <= Ref(C,-1)); 
> 
> // buy constraint: down 5 bars in a row, then last bar high greater 
than previous high, trend is up 
> bc1 = Ref(tt >= 5,-1) AND H > Ref(H,-1) AND C > Ref(C,-1) AND dmap 
> 0;   
> Buy = bc1; 
> Buy = Ref(Buy,-1); BuyPrice = O; 
> 
> sc1 = Ref(ss >= 5,-1) AND L < Ref(L,-1) AND C < Ref(C,-1) AND dmap 
< 0; 
> Short = sc1; 
> Short = Ref(Short,-1); ShortPrice = O; 
> 
> SetChartOptions(0, chartShowDates); 
> GraphXSpace = 5; 
> Plot(C,"C",1,64); 
> 
> PlotShapes(IIf(Buy,shapeUpArrow,0),colorWhite, layer = 0, yposition 
= BuyPrice, offset = 0 ); 
> PlotShapes(IIf(Short,shapeHollowDownArrow,0),colorLightBlue, layer 
= 0, yposition = ShortPrice, offset = 0 );
> 
> 



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