Stop Reversal indicator
The indicator is pretty similar to a Supertrend but based on fixed steps with pips/points instead of multiple of ATR. The arrows plotted on the price chart are the reversal of this “supertrend”.
I added an option to display or not the line that show the trend and when the price is crossing it (showLine).
The “nPips” setting is the size in points/pips between the current close and the “stop and reverse” trend line. You should adapt it for the instrument and timeframe displayed on your chart.
//PRC_StopReversal | indicator
//09.05.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
// --- settings
nPips = 0.004
showLine = 0 //0= false ; 1= true
// --- end of settings
if( (Close[0] = PREV) ) then
TrStopLevel=PREV
elsif( (Close[1])<PREV and (Close[0]<PREV) ) then
TrStopLevel=Min(PREV,Close[0]*(1+nPips))
else
if( ((Close[1])>PREV) and (Close[0]>PREV) ) then
TrStopLevel=Max(PREV,Close[0]*(1-nPips))
else
if( (Close[0]>PREV) ) then
TrStopLevel=Close[0]*(1-nPips)
else
TrStopLevel=Close[0]*(1+nPips)
endif
endif
endif
if( Close[0] > TrStopLevel and Close[1]<PREV and PREV <>0 ) then
drawarrowup(barindex,TrStopLevel) coloured(0,255,0)
endif
if( Close[0] < TrStopLevel and Close[1]>PREV and PREV <>0 ) then
drawarrowdown(barindex,TrStopLevel) coloured(255,0,0)
endif
PREV=TrStopLevel
myline=undefined
if showline then
myline=PREV
endif
return myline
Comments
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I watched the video three times, but I can not put the npips parameter as a variable. I do not understand how to change the code to do it. If you can help me I would be happy, otherwise it does not matter. Thank you
I think the video is for an old version of prorealtime, the images do not correspond at all to the current version. I abandoned the idea. Do not worry. That's okay. Thank for all
okay it seems to me that it works. I saw the video you reported to me, but I was not able to put NPIPS as a variable in order to optimize it. Can you help me please?
// Definizione dei parametri del codice DEFPARAM CumulateOrders = False // Posizioni cumulate disattivate // Condizioni per entrare su posizioni long indicator1 = CALL "PRC_StopReversal"[0.004, 1] c1 = (close CROSSES OVER indicator1) IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF // Condizioni per uscire da posizioni long indicator2 = CALL "PRC_StopReversal"[0.004, 1] c2 = (close CROSSES UNDER indicator2) IF c2 THEN SELL AT MARKET ENDIF // Condizioni per entrare su posizioni short indicator3 = CALL "PRC_StopReversal"[0.004, 1] c3 = (close CROSSES UNDER indicator3) IF c3 THEN SELLSHORT 1 CONTRACT AT MARKET ENDIF // Condizioni per uscire da posizioni short indicator4 = CALL "PRC_StopReversal"[0.004, 1] c4 = (close CROSSES OVER indicator4) IF c4 THEN EXITSHORT AT MARKET ENDIF
I'm sorry to come back here, I can not transform your indicator into a trading system. can you help me? I believed that the simplified creation was useful for those like me who do not know anything about language, but no!
// Definizione dei parametri del codice DEFPARAM CumulateOrders = False // Posizioni cumulate disattivate // Condizioni per entrare su posizioni long indicator1 = CALL "PRC_StopReversal"[0.004, 1] c1 = (close >= indicator1) IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF // Condizioni per uscire da posizioni long indicator2 = CALL "PRC_StopReversal"[0.004, 1] c2 = (close <= indicator2) IF c2 THEN SELL AT MARKET ENDIF I was helped by the simplified creation I get this result, but it only works long. I would like to get the system to look for the best NPIPS. Can you help me? thank you
Thanks, Nicolas is it possible to create a trading system with this indicator? I tried but I could not do it Hello
Grazie Nicolas, è possibile creare un sistema di trading con questo indicatore? Ho provato ma non ci sono riuscita Ciao
indicator1 = CALL “PRC_StopReversal”[npips, 1] and define npips in the optimization window with its start, end and step of variable increment, that's all :)