Hello again
I'm trying to code for a retest of a previous low, with no success yet
The idea, price, often test a precious low and cross or rebounce just before on it, Then, just like a slingshot it is pusch upward
Any hint to start me on the code
Martin
How to code for a retest of the low
How to code for a retest of the low
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Re: How to code for a retest of the low
here are my thoughts...
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Re: How to code for a retest of the low
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Re: How to code for a retest of the low
Hello TJ
Not sure if I understand your question. Both bar is a pivot. But to my opinion, waiting for a pivot is sometime to late. My idea is to test if the price of a bar cross below or jump above the first pivot . This is a setup that i use in manual trading.
If price cross below a previous pivot low, go long at high +1
If a hammer did not cross below a previous pivot low, go long at high +1
If Inside bar, 2 orders: Go long at high +1 // Go short at low -1 Price may go on either side
Whit my limited knowledge of Multicharts, I just can't figure how to code it. I will look again around the pivot. What i need to know is the price of a previous pivot low, but we could see many pivot low between these bars.
How to discriminate out of the pivot low, the lowest pivot that a bar could encountered. This is my interrogation.
Martin
Not sure if I understand your question. Both bar is a pivot. But to my opinion, waiting for a pivot is sometime to late. My idea is to test if the price of a bar cross below or jump above the first pivot . This is a setup that i use in manual trading.
If price cross below a previous pivot low, go long at high +1
If a hammer did not cross below a previous pivot low, go long at high +1
If Inside bar, 2 orders: Go long at high +1 // Go short at low -1 Price may go on either side
Whit my limited knowledge of Multicharts, I just can't figure how to code it. I will look again around the pivot. What i need to know is the price of a previous pivot low, but we could see many pivot low between these bars.
How to discriminate out of the pivot low, the lowest pivot that a bar could encountered. This is my interrogation.
Martin
- TJ
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Re: How to code for a retest of the low
Slow down...Hello TJ
...
Whit my limited knowledge of Multicharts, I just can't figure how to code it. I will look again around the pivot. What i need to know is the price of a previous pivot low, but we could see many pivot low between these bars.
How to discriminate out of the pivot low, the lowest pivot that a bar could encountered. This is my interrogation.
Martin
we are not at programming yet.
Before you can program something, you have to define it first.
The first thing is to tell MultiCharts that this, to your specification, is a "PIVOT".
This "pivot" is the basis of your analysis...
without this starting point, there is no "test".
Your task...
look at the chart and ask yourself:
1. why do I call this a pivot?
2. what are the attributes and characteristics of a pivot? can I quantify it?
3. at what point can I confirm that this is a pivot? (next bar? 3 bars from low?)
if you can quantify an idea,
you can code it.
- TJ
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Re: How to code for a retest of the low
let me give you an overly simplified example...
or you can look at some complicated and sophisticated examples...
in your PLEditor, look for function names starting with
pivot***
swing***
Code: Select all
pivot.low = lowest( low, 20);
or you can look at some complicated and sophisticated examples...
in your PLEditor, look for function names starting with
pivot***
swing***
Re: How to code for a retest of the low
TJ,
That could be a solution, but price may rebounce on a pivot low that is not the lowest pivot low of a given period.
My setup is strict and it is call a Fake Out: maybe i did not explain it well.
Go long if price go below a previous pivot low. That is not The lowest pivot low, just a previous pivot. A low that as not been crossed before. If a previous pivot low as been crossed before, it is not a valid pivot low for this bar. Only the virgin one and in a direct view
Quest continu
Martin
That could be a solution, but price may rebounce on a pivot low that is not the lowest pivot low of a given period.
My setup is strict and it is call a Fake Out: maybe i did not explain it well.
Go long if price go below a previous pivot low. That is not The lowest pivot low, just a previous pivot. A low that as not been crossed before. If a previous pivot low as been crossed before, it is not a valid pivot low for this bar. Only the virgin one and in a direct view
Quest continu
Martin
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Re: How to code for a retest of the low
Human mind is a powerful piece of equipment...TJ,
That could be a solution, but price may rebounce on a pivot low that is not the lowest pivot low of a given period.
My setup is strict and it is call a Fake Out: maybe i did not explain it well.
Go long if price go below a previous pivot low. That is not The lowest pivot low, just a previous pivot. A low that as not been crossed before. If a previous pivot low as been crossed before, it is not a valid pivot low for this bar. Only the virgin one and in a direct view
Quest continu
Martin
We do thousands of analysis, evaluation, comparisons, filtering, judging, all in a split second.
Many of our logics are locked away in the depths of our brain, only to be recalled when needed.
My suggestion is...
go back to the first diagram above, and start writing down your observation of that specific moment.
then go to the next bar...
what would happen if the next bar makes another low?
what if the next bar is an inside bar?
what if the next bar makes a high? will it go higher from there?
what if the next bar makes another low, then reverses to higher high?
what if the bar makes a higher high, but closes inside the previous range?
Does volume come into play here?
As a trader, we deal with all these issues... subconsciously.
Coding will make you a better trader,
because you force yourself to understand your unwritten logics.
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Re: How to code for a retest of the low
Hi arjfca,
Maybe you should read about Gann's swing charts. You'll not find any better way to read a swing chart and with them find your pivots.
http://www.tradingmarkets.com/.site/for ... -80152.cfm
Maybe you should read about Gann's swing charts. You'll not find any better way to read a swing chart and with them find your pivots.
http://www.tradingmarkets.com/.site/for ... -80152.cfm
Re: How to code for a retest of the low
Thank you for your input TJ
As always, intersting and appreciated.
Yes that is true that coding and backtesting resolve some problem and force the mind toward understanding the trading business. This setup that i described is valid for me as it is written. Nothing to add, plain and direct.
Coding is a description of a mental or visual step. Easier said than done for me. hehe!
I will put that problem back in my head and a solution will eventually come out. I got many other parts to correct or add in my signal.
Martin
As always, intersting and appreciated.
Yes that is true that coding and backtesting resolve some problem and force the mind toward understanding the trading business. This setup that i described is valid for me as it is written. Nothing to add, plain and direct.
Coding is a description of a mental or visual step. Easier said than done for me. hehe!
I will put that problem back in my head and a solution will eventually come out. I got many other parts to correct or add in my signal.
Martin
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Re: How to code for a retest of the low
often we spend uncountable time and energy
looking for a silver bullet that could solve a problem.
often, all it takes is 2 simple aspirins.
looking for a silver bullet that could solve a problem.
often, all it takes is 2 simple aspirins.