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Hi All,
I copy below in text form a Divergence ShowMe, and it works pretty
well.
What I'd like to do is to place Buy and Sell signals at the divergence
points so I can experiment with some system testing. I have tried
entering Buy & Sell signals after the "TL_New" lines but this causes
an error which says you can't put signals in a loop. So I tried setting
a flag there and putting the signals a few lines later.
Bottom line is I can't get it to work. It works a bit on Daily bars
using "Date[oSw1Bar]+1" but I've been unable to do a similar thing with
Time and hence been totally unable to get any result with intraday bars.
I'm not terribly familiar with trendline drawing so perhaps the loops in
those statements are causing problems.
Anyway, I'd be everso grateful if someone with a little more
knowledge of EL would be kind enough to take a look and possibly suggest
a solution.
Thanks.
Ian
{ SHOWME: PlotDivergence v1.1
Last modified 2003/03/27
Shows divergence between price and a user specified indicator.
Please email me any improvements you make! Thanx! }
{Copyright (C) 2003 John Price <jp_easylanguage@xxxxxxxx>
This software is free software; you can redistribute it and/or modify
it under the terms of the GNU General Public License as published by
the Free Software Foundation; either version 2 of the License, or
(at your option) any later version.
This software is distributed in the hope that it will be useful, but
WITHOUT ANY WARRANTY; without even the implied warranty of
MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the GNU
General Public License for more details.
You can receive a copy of the GNU General Public License by going to
http://www.gnu.org/licenses/gpl.txt or writing to the Free Software
Foundation, Inc., 59 Temple Place - Suite 330, Boston, MA
02111-1307, USA. }
Inputs:
PriceHigh(High), { This should be price (high or close)}
PriceLow(Low), { This should be price (low or close)}
Indicator(RSI(Close,5)),{ This is the indicator you want to find
divergence in}
Strength(1), { How many bars on left/right to check to determine a high
/low}
Length(30), { How many bars back to look for highs and lows}
HistoryBars(3), { Number of highs and lows to look at for divergence (
max is 9)}
LineColor(magenta), { Color of lines drawn}
LineSize(0), { Size of lines (0=smallest, 7=largest)}
LineOffset(0), { How much (in price) above or below bars to draw lines}
Debug(False); { Plots debug dots}
Vars:
HiLo(0),
oSw1Price1(0),
oSw1Price2(0),
oSw1Bar1(0),
oSw1Bar2(0),
id(0),
numBars(0),
NumOfHistoryBars(0);
Arrays:
SwHiVal1[9](0),
SwHiVal2[9](0),
SwHiDate[9](0),
SwHiTime[9](0),
SwHiBar[9](0),
SwLoVal1[9](0),
SwLoVal2[9](0),
SwLoDate[9](0),
SwLoTime[9](0),
SwLoBar[9](0);
IF HistoryBars < 1 then
NumOfHistoryBars = 1
else if HistoryBars > 9 THEN
NumOfHistoryBars = 9
else
NumOfHistoryBars = HistoryBars;
if barnumber > Length then begin
HiLo = 1; {look for high pivots }
Value2 = Pivot(Indicator, Length, Strength, Strength, 1, HiLo, oSw1
Price2, oSw1Bar2);
if Value2 = 1 and oSw1Bar2 = Strength then begin
oSw1Bar1 = HighestBar(PriceHigh, Strength*2); { maybe use SwingHighBar
instead }
IF oSw1Bar1 <> Strength and High[oSw1Bar1] = High[Strength] THEN
oSw1Bar1 = Strength;
oSw1Price1 = PriceHigh[oSw1Bar1];
if Debug then begin
plot1[Strength](high[Strength]+0.25, "DebugHigh1"); {indicator high}
plot2[oSw1Bar1](high[oSw1Bar1]+0.75, "DebugHigh2"); {coresponding price
high}
end;
{ push arrays back }
for Value1 = NumOfHistoryBars-1 downto 0 begin
SwHiDate[Value1+1] = SwHiDate[Value1];
SwHiTime[Value1+1] = SwHiTime[Value1];
SwHiVal1[Value1+1] = SwHiVal1[Value1];
SwHiVal2[Value1+1] = SwHiVal2[Value1];
SwHiBar[Value1+1] = SwHiBar[Value1];
end;
{ store parameters of new SwHi into 0-elements of arrays }
SwHiDate[0] = Date[oSw1Bar1];
SwHiTime[0] = Time[oSw1Bar1];
SwHiVal1[0] = PriceHigh[oSw1Bar1];
SwHiVal2[0] = oSw1Price2; { value of indiactor at high point }
SwHiBar[0] = BarNumber;
for numBars = 1 to NumOfHistoryBars begin
if SwHiVal1[numBars] <> 0 and
SwHiBar[numBars] + Length >= BarNumber and
oSw1Price1 > SwHiVal1[numBars] and
oSw1Price2 < SwHiVal2[numBars] then begin
id = TL_New(SwHiDate[numBars], SwHiTime[numBars], SwHiVal1[numBars] +
LineOffset,
Date[oSw1Bar1], Time[oSw1Bar1], oSw1Price1 + LineOffset);
TL_SetExtLeft(id, false);
TL_SetExtRight(id, false);
TL_SetColor(id, LineColor);
TL_SetSize(id, LineSize);
end;
end;
end;
HiLo = -1; {look for low pivots }
Value2 = Pivot(Indicator, Length, Strength, Strength, 1, HiLo, oSw1
Price2, oSw1Bar2);
if Value2 = 1 and oSw1Bar2 = Strength then begin
oSw1Bar1 = LowestBar(PriceLow, Strength*2); { maybe use SwingLowBar
instead }
IF oSw1Bar1 <> Strength and Low[oSw1Bar1] = Low[Strength] THEN
oSw1Bar1 = Strength;
oSw1Price1 = PriceLow[oSw1Bar1];
if Debug then begin
plot3[Strength](low[Strength]-0.25, "DebugLow1"); {indicator low}
plot4[oSw1Bar1](low[oSw1Bar1]-0.75, "DebugLow2"); {coresponding price
low}
end;
{ push arrays back }
for Value1 = NumOfHistoryBars-1 downto 0 begin
SwLoDate[Value1+1] = SwLoDate[Value1];
SwLoTime[Value1+1] = SwLoTime[Value1];
SwLoVal1[Value1+1] = SwLoVal1[Value1];
SwLoVal2[Value1+1] = SwLoVal2[Value1];
SwLoBar[Value1+1] = SwLoBar[Value1];
end;
{ store parameters of new SwHi into 0-elements of arrays }
SwLoDate[0] = Date[oSw1Bar1];
SwLoTime[0] = Time[oSw1Bar1];
SwLoVal1[0] = PriceLow[oSw1Bar1];
SwLoVal2[0] = oSw1Price2; { value of indiactor at high point }
SwLoBar[0] = BarNumber;
for numBars = 1 to NumOfHistoryBars begin
if SwLoVal1[numBars] <> 0 and
SwLoBar[numBars] + Length >= BarNumber and
oSw1Price1 < SwLoVal1[numBars] and
oSw1Price2 > SwLoVal2[numBars] then begin
id = TL_New(SwLoDate[numBars], SwLoTime[numBars], SwLoVal1[numBars] -
LineOffset,
Date[oSw1Bar1], Time[oSw1Bar1], oSw1Price1 - LineOffset);
TL_SetExtLeft(id, false);
TL_SetExtRight(id, false);
TL_SetColor(id, LineColor);
TL_SetSize(id, LineSize);
end;
end;
end;
end;
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