Berlin, Europe
Market Wizard
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102
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You look for a stock that has made a run and then retraced to a moving average.
Select a lookback period N, for example N = 20.
(1) "Made a run":
The stock must have made a new high during the last 20 days. Select the NewHigh/NewLow indicator, set it to a period of 20 and check the condition for the last 20 days. Maybe you need to modify the indicator in such a way that it comes with a DataSeries which holds the value 1, if the aggregate conditioin is true, and which holds the value 0 otherwise.
(2) "Pull back to the MA":
You only want to get alerted for the first bar that touches the MA. Therefore you need to look out for a bar with
-> the low smaller or equal to the current value of the MA
-> the low of the prior bar greater than the prior value of the MA (not higher than the current low!)
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