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How do you put a consolidation into EL?
Updated July 26, 2021
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How do you put a consolidation into EL?
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#11 (permalink )
Turin + Italy
Posts: 177 since Feb 2020
Thanks: 20 given,
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received
The following user says Thank You to Shaban for this post:
Can you help answer these questions from other members on futures io?
Best Threads (Most Thanked) in the last 7 days on futures io
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#12 (permalink )
Turin + Italy
Posts: 177 since Feb 2020
Thanks: 20 given,
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The Supertrend also identifies congestion phases well; the formula is this:
--------------------------------------------------------------
{SuperTrend - Indicator}
Inputs:
ATRLength(10), ATRMult(3), UpColor(green), DnColor(red);
vars:
ATR (0),
avg(0),
dn(0),
up(0),
trend(1),
flag(0),
flagh(0),
SuperTrend(0);
ATR = AvgTrueRange(ATRLength) * ATRMult;
avg = (high + low)/2;
up = avg + ATR;
dn = avg - ATR;
if close > up[1] then
trend = 1
else if close < dn[1] then
trend = -1;
if trend < 0 and trend[1] > 0 then flag=1 else flag=0;
if trend > 0 and trend[1] < 0 then flagh = 1 else flagh = 0;
if trend > 0 and dn < dn[1] then dn=dn[1];
if trend < 0 and up > up[1] then up=up[1];
if flag = 1 then up = avg + ATR;
if flagh = 1 then dn = avg - ATR;
if trend = 1 then SuperTrend = dn else SuperTrend = up;
Plot3(SuperTrend,"SuperTrend",iff(trend = 1, green, red));
------------------------------------------------------------------------------
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#13 (permalink )
Turin + Italy
Posts: 177 since Feb 2020
Thanks: 20 given,
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For ShadowFox: You have a P.M.
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#14 (permalink )
Turin + Italy
Posts: 177 since Feb 2020
Thanks: 20 given,
108
received
This Indicator is definitely better, but...unfortunately it is paid:
image sharing website
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#15 (permalink )
Turin + Italy
Posts: 177 since Feb 2020
Thanks: 20 given,
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received
If it helps you, you could try the function: ChoppyMarketIndex, made by George Pruitt in his book:
Building Winning Trading System with Tradestation -2a ed, which was reported here:
Last Updated on July 26, 2021
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