A detector for the indicator “ATR Worm“.
- GREEN = confirmation of pattern ;
- RED = level of breakout reached.
This indicator allows me to define the moment to open a trade.
As well as a safe distance to the next peaks / troughs (that distance not being respected, the considered trade won’t be taken).
With 2 scenarios :
- Pattern validation with the next candlestick (e.g. a pinbar after a trend correction + validation by continuation of the movement with the next candlestick) ;
- Horizontal breakout.
In the case of the first scenario, I take the trade on the blue spot ;
In the case of the second one, I take the trade on the red spot ;
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// General parameters Pips = 0.5 monATR=AverageTrueRange[14](close) monATR2=(AverageTrueRange[14](close)) * 2 // Results display IF Close > Close[1] AND Close >= Low-Pips*pipsize+monatr THEN result = 2 ELSIF Close < Close[1] AND Close <= High+Pips*pipsize-monatr THEN result = -2 ELSIF Close > Close[1] AND Close >= Low[1]-Pips*pipsize+monatr THEN result = 1 ELSIF Close < Close[1] AND Close <= High[1]+Pips*pipsize-monatr THEN result = -1 ELSE result = 0 ENDIF // Colours display IF result = 1 THEN r = 127 g = 255 b = 0 ELSIF result = 2 THEN r = 255 g = 0 b = 0 ELSIF result = -1 THEN r = 127 g = 255 b = 0 ELSIF result = -2 THEN r = 255 g = 0 b = 0 ELSE r = 255 g = 255 b = 255 ENDIF // 0 Line DRAWHLINE (0) COLOURED ("grey") STYLE (line,1) RETURN result COLOURED (r,g,b) STYLE (histogram) |
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