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Attached is an image of the code below. I first put this on the list in mid
Aug. but didn't have any successful responses. The Parabolic Custom code was
from Chris Cheatham here on the 9th July Digest No 223. Much of the coding
is from Arthur Putt's book.
The gif shows the standard parabolic in yellow. My addition is in red.
To explain the concept again:
The idea being that to start with parabolic does the right 'thing' in that
it goes sideways and up giving time-space in avoiding whipsaws. However, I
don't like the way parabolic relaxes its slope after a strong move.
Essentially it can reduce % of trend captured instead of 'punching' up into
the topping pattern; to take profits.
So I've used an array to track the greatest slope as parabolic develops.
This is continued at a tangent to parabolic if its slope subsides. If
parabolic's slope increases again (and with a steeper gradient than the new
'trendline') then this stronger slope is immediately incorporated in the new
'trendline'.
I would like to use this as a 'backup' trailing stop, acting after about say
10 bars.
As per the attached .gif's I'm up to a certain point in coding this
variation to parabolic and cannot get any further with it? I've added the
code to the uptrend side of parabolic only and wish to make a function of
this. Also when I add the downtrend side then there's a slight jump in some
bars.
If anyone can help finish this I'd greatly appreciate it.
Regards
Jon Macmichael
Attachment:
Description: "Bonds ParaTrnd2.gif"
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