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How do you put a consolidation into EL?


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How do you put a consolidation into EL?
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Mgem
New York City
 
 
Posts: 7 since Apr 2021
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Does anyone know how to put a consolidation in to a strategy as well well as a indictor?

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SunTrader
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Mgem View Post
Does anyone know how to put a consolidation in to a strategy as well well as a indictor?

A consolidation?

If you are talking about a price consolidation - how do you define a consolidation?

How another trader defines it might be completely different.

Same for trend, support, resistance, all kinds of patterns yada yada.

Anything can be coded .... that is specifically defined. Nothing can be coded that isn't.

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 Billiwon 
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Mgem View Post
Does anyone know how to put a consolidation in to a strategy as well well as a indictor?

By "Consolidation" you mean as in ADX below a certain threshold?
Or as in BollingerBand squeeze?
Just plot them as indicators in your chart to show consolidation.
Or include them as conditions in a strategy.

~Bill

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Mgem
New York City
 
 
Posts: 7 since Apr 2021
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SunTrader View Post
A consolidation?

If you are talking about a price consolidation - how do you define a consolidation?

How another trader defines it might be completely different.

Same for trend, support, resistance, all kinds of patterns yada yada.

Anything can be coded .... that is specifically defined. Nothing can be coded that isn't.




Great point! Yes I mean a price consolidation, trading in a tight range, with lower volume and the price does not really go outside the support and resistance.

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Mgem
New York City
 
 
Posts: 7 since Apr 2021
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Billiwon View Post
By "Consolidation" you mean as in ADX below a certain threshold?
Or as in BollingerBand squeeze?
Just plot them as indicators in your chart to show consolidation.
Or include them as conditions in a strategy.

~Bill



I mean more of a price consolidation where it has a support and resistance and doesnt really go out side of those two. Normally will have lower volume within that range.

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SunTrader
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That is not what I meant. Mathematically specified.

Again like I said each of us determines what is support exactly , what is resistance exactly, what is a tight range exactly etc.

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Mgem
New York City
 
 
Posts: 7 since Apr 2021
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SunTrader View Post
That is not what I meant. Mathematically specified.

Again like I said each of us determines what is support exactly , what is resistance exactly, what is a tight range exactly etc.

I would say the support would be the low of X bars back and that low remains the support as long as another low is X % within the low, so the low would go with say for example .05% above and below that low If a low is outside of that % then that is the new support to be tested. The Resistance would be the reverse but for the high. The ATR is descending or potentially even and the volume is lower then the average.

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Shaban
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Posts: 119 since Feb 2020
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Here is the formula in Easylanguage of an Indicator inspired by Nicolas Darvas' technique, which plots supports and resistances:

https://www.mediafire.com/file/mekvo0lp0i01jnj/Darvas_Box.rar/file

but when I insert it in the chart, the image becomes very narrow, if someone can solve this problem:



before inserting the indicator, the chart has these dimensions:

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SunTrader
Boca Raton, FL
 
 
Posts: 171 since Nov 2018
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Shaban View Post
Here is the formula in Easylanguage of an Indicator inspired by Nicolas Darvas' technique, which plots supports and resistances:

https://www.mediafire.com/file/mekvo0lp0i01jnj/Darvas_Box.rar/file

but when I insert it in the chart, the image becomes very narrow, if someone can solve this problem:



before inserting the indicator, the chart has these dimensions:

Sorry but not going to download something I have no clue whether or not it is safe.

But try formatting indicator under scaling tab to (Scale On): Same Axis as Underlying Data.

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 ShadowFox 
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Shaban View Post
Here is the formula in Easylanguage of an Indicator inspired by Nicolas Darvas' technique, which plots supports and resistances:

https://www.mediafire.com/file/mekvo0lp0i01jnj/Darvas_Box.rar/file

but when I insert it in the chart, the image becomes very narrow, if someone can solve this problem:



before inserting the indicator, the chart has these dimensions:

You can change this in the data symbol settings. Right click chart, edit symbol, scaling, uncheck the expand range to include studies option.

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