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// draw triangle up
// 3 bars -volume slope up but price slope down with the last white candle
if (Volume[0] >= Volume[1] && Volume[1] >= Volume[2] &&
( High[0] - Low[0]
Comments Welcome
PS: Please note that this is just a base release and Once the functionality aspect is confirmed - Can provide the configurable inputs ( color/offset values etc) or any other changes needed.
Hi, I would like to know if anyone is having success with this indicator? The methodology makes sense but when I backtest it, the results are quite poor. I entered the criteria in SC spreadsheet study and used the criteria as stipulated by Cory:
// draw triangle up
// 3 bars -volume slope up but price slope down with the last white candle
if (Volume[0] >= Volume[1] && Volume[1] >= Volume[2] &&
( High[0] - Low[0] < High[1] - Low[1] || Math.Abs(Open[0] - Close[0])< Math.Abs(Open[1] - Close[1]))
&&
Low[0] <= Low[1] &&
Low[1] <= Low[2] &&
Close[0] >= Open[0] )
// draw triangle down
// 3 bars -volume slope up and price slope up with the last black candle
if (Volume[0] >= Volume[1] && Volume[1] >= Volume[2] &&
( High[0] - Low[0]< High[1] - Low[1] ||
Math.Abs(Open[0] - Close[0])< Math.Abs(Open[1] - Close[1]))
&&
High[0] >= High[1] &&
High[1] >= High[2] &&
Close[0] < Open[0] )
I tested on a 3 min chart and overlaid the 9 & 5MA of the 10000 tick chart to get medium term direction. I tested this on the NQ. So when the 10k Tick 5 MA is above 9 MA, I'll only take longs when a signal is fired and when 5 MA is below 9 MA I'll only take shorts when signals are fired. I only enter during RTH.
I attach my chart, spreadsheet and screenshot of the backtest. I can't say that this is a strategy that shows results? Unless I'm way off and missing something big. Any comments, recommendations or advice would be welcomed.
PS - This is no criticism against Cory or his work. He is obviously highly valued and respected in this community. I'm merely sharing data and wish to know whether this is a strategy I wish to add to my methodologies.
