PercentR SE
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PercentR SE (Short Entry) places a short entry order next bar at open when the percent retracement value goes from above the OverBought level to below the Trigger level. If the percent retracement value goes above the OverSold level, the order is cancelled.
Default Inputs
Length - number of bars used for the percent retracement value calculation.
OverSold - at this value the PercentR is considered to be OverSold.
OverBought - at this value the PercentR is considered to be OverBought.
Trigger - this value triggers the entry when PercentR is considered OverBought.
Use PercentR LE for entering a long position.