Download: 1-28.ELA
File Includes: Indicator - One Point Two Eight
Category: Indicator > Predictors
Description:
This is the Larry Williams One Point Two Eight Indicator. Predicts pivots based on a 1.28 or other ratio.
NOTE: Input "VHELP" is used to displace predicted pivot vertically not to hide Known Pivot.
Usage:
Set required inputs and indicator will plot swings
Inputs:
USS - specifies required number of bars on the upper side of the swing bar
DSS - specifies required number of bars on the lower side of the swing bar
Fcator - ratio to use
VHelp - is used to displace predicted pivot vertically not to hide Known Pivot.
EasyLanguage Code:
INPUT:USS(4),DSS(4),FACTOR(1.28),VHELP(50); { * UP/DOWNSWING STRENGTH,
VISUAL HELP }
VALUE1 = SWINGHIGHBAR(1,H,USS,MAXBARSBACK - USS);
VALUE2 = SWINGHIGHBAR(2,H,USS,MAXBARSBACK - USS);
VALUE3 = SWINGLOWBAR(1,L,DSS,MAXBARSBACK - USS);
IF MAXLIST(VALUE1,VALUE2,VALUE3) < MAXBARSBACK AND
MINLIST(VALUE1,VALUE2,VALUE3) > 0 AND
VALUE2 > VALUE3 AND VALUE3 > VALUE1 THEN BEGIN
VALUE4 = BARNUMBER[VALUE3] + ROUND(((VALUE2 - VALUE1) * FACTOR),0);
VALUE5 = BARNUMBER[VALUE3];
PLOT1[VALUE2](H[VALUE2],"H1");
PLOT2[VALUE3](L[VALUE3],"L1");
PLOT3[VALUE1](H[VALUE1] + VHELP POINTS,"H2");
END;
IF BARNUMBER = VALUE4 THEN BEGIN
PLOT4(MEDIANPRICE,"L2");
END;