This code spots, based on historical data, the day of the week where the market makes the lowest and the highest price. Being a statistical tool, this indicator helps filtering entry and exit periods but cannot be used stand alone. It’s freely inspired bu Williams’ techniques.
Buy when the red line makes a trough and sell when the blue line makes a peak. If the trend is up buy on open and sell on close, if the trend is down buy on close and sell on open.
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period=100 if dayofweek=1 then BARref=barindex refOPEN=open endif refHIGH=100*(high-refOPEN)/refOPEN refLOW=100*(-refOPEN+low)/refOPEN if barindex<BARref+4 then //lunedi if dayofweek=1 then MONhigh=refHIGH MONlow=refLOW MONcount=1 else MONhigh=0 MONlow=0 MONcount=0 endif //martedi if dayofweek=2 then TUEhigh=refHIGH TUElow=refLOW TUEcount=1 else TUEhigh=0 TUElow=0 TUEcount=0 endif //mercoledi if dayofweek=3 then WEDhigh=refHIGH WEDlow=refLOW WEDcount=1 else WEDhigh=0 WEDlow=0 WEDcount=0 endif //giovedi if dayofweek=4 then THUhigh=refHIGH THUlow=refLOW THUcount=1 else THUhigh=0 THUlow=0 THUcount=0 endif //venerdi if dayofweek=5 then FRIhigh=refHIGH FRIlow=refLOW FRIcount=1 else FRIhigh=0 FRIlow=0 FRIcount=0 endif ENDIF monALTO=summation[period](MONhigh)/summation[period](MONcount) monBASSO=summation[period](MONlow)/summation[period](MONcount) tueALTO=summation[period](TUEhigh)/summation[period](TUEcount) tueBASSO=summation[period](TUElow)/summation[period](TUEcount) wedALTO=summation[period](WEDhigh)/summation[period](WEDcount) wedBASSO=summation[period](WEDlow)/summation[period](WEDcount) thuALTO=summation[period](THUhigh)/summation[period](THUcount) thuBASSO=summation[period](THUlow)/summation[period](THUcount) friALTO=summation[period](FRIhigh)/summation[period](FRIcount) friBASSO=summation[period](FRIlow)/summation[period](FRIcount) if dayofweek=1 then refalto=monALTO refbasso=monBASSO elsif dayofweek=2 then refalto=tueALTO refbasso=tueBASSO elsif dayofweek=3 then refalto=wedALTO refbasso=wedBASSO elsif dayofweek=4 then refalto=thuALTO refbasso=thuBASSO elsif dayofweek=5 then refalto=friALTO refbasso=friBASSO endif return refalto coloured (0,0,255) as "Sell", refbasso coloured (205,0,0) as "Buy"// |
Blue skies!!
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