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I'm trying to code the following system:
The market makes a new a 20-day high, then after a pullback of 5 to 8 days a
new 5 day low is made. At that point I'd like to buy.
I have put this together but I know it's not right and I'm kinda stumped:
VAR: PHI(FALSE);
CONDITION1 = H > HIGHEST(HIGH, 20)[1];
IF CONDITION1 THEN PHI = (TRUE);
CONDITION2 = L < LOWEST(LOW, 5)[1];
IF PHI THEN BEGIN
IF CONDITION2 THEN BUY;
EXITLONG AT LOWEST(LOW, 24)[1] STOP;
END;
The old supercharts code is:
Input: Xdays (14);
If Highest Bar(High,20)[1] < 7 and Low< Lowest
(Low,5)[l]then buy tomorrow on the open:
If BarsSinceEntry - Xdays then exitlong at the close:
I'd like to know how to code this into TS 4.0.
Thanks in advance for any help.
Vince
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