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I need help with a Visual Candle Counting indicator, please.
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I need help with a Visual Candle Counting indicator, please.

  #1 (permalink)
Trading Apprentice
Wichita falls, tx
 
Futures Experience: Intermediate
Platform: Thinkorswim
Favorite Futures: stocks
 
ckajrtx's Avatar
 
Posts: 4 since May 2014
Thanks: 1 given, 4 received

I need help with a Visual Candle Counting indicator, please.

Visual Candle Counting Indicator:
(SMA's based on close price)

1)Start counting trade days once SMA 3 has crossed above SMA 10.
2) If SMA 3 is still above SMA 10 after 10 trade days show visual indicator above each candle (circle or triangle) that is 10+ until SMA 3 crosses below SMA 10.
3) once the SMA 3 has crossed back below SMA 10 visual indicator disappears.
4) Start counting trade days once SMA 3 has crossed below SMA 10.
5) If SMA 3 is still below SMA 10 after 10 trade days show visual indicator below each candle (circle or triangle) that is 10+ until SMA 3 crosses above SMA 10.

My purpose for this indicator is to show me when buying the stock after a break out would be chasing, in my opinion.

Any helpful info would be welcomed. -Charles

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  #2 (permalink)
Elite Member
Trubchevsk
 
Futures Experience: Beginner
Platform: tos
Favorite Futures: stocks
 
Posts: 48 since May 2011
Thanks: 34 given, 64 received

here is how i can see it..

The signal will be shown as a color of bar....if sma3 is above sma10 for 10 bars and more then color of bars will be green.....and the red color for opposite condition

 
Code
                            
declare upper;
def sma3 average(close,3);
def sma10 average(close,10);
def countup = if sma3>sma10 then countup[1]+else 0;
def countdn = if sma3<sma10 then countdn[1]+else 0;
assignPriceColor(if countup >=10 then color.green else if countdn >= 10 then color.red else color.gray); 

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  #3 (permalink)
Trading Apprentice
Wichita falls, tx
 
Futures Experience: Intermediate
Platform: Thinkorswim
Favorite Futures: stocks
 
ckajrtx's Avatar
 
Posts: 4 since May 2014
Thanks: 1 given, 4 received



growex View Post
here is how i can see it..

The signal will be shown as a color of bar....if sma3 is above sma10 for 10 bars and more then color of bars will be green.....and the red color for opposite condition

 
Code
                            
declare upper;

def sma3 average(close,3);
def sma10 average(close,10);
def countup = if sma3>sma10 then countup[1]+else 0;
def countdn = if sma3<sma10 then countdn[1]+else 0;
assignPriceColor(if countup >=10 then color.green else if countdn >= 10 then color.red else color.gray); 

This is what I was looking for thank you very much GROWEX.

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