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.
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 |
//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 |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
Grazie Nicolas,
è possibile creare un sistema di trading con questo indicatore?
Ho provato ma non ci sono riuscita
Ciao
Thanks, Nicolas
is it possible to create a trading system with this indicator?
I tried but I could not do it
Hello
Yes of course, be sure to set ‘showline=1’.
In your trading system, just test if the Close is crossing over or under the black line (variable name = myline). Just like what we do with a usual Supertrend for instance.
// 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
You can try to optimize values for instruments/timeframes, like it is explained in this video: https://www.prorealcode.com/blog/video-tutorials/how-to-optimize-a-trading-system-with-probacktest-prorealtime/
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!
You should test crossing of close with the indicators line and not if it’s above or below
// 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
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?
If you follow the video, it’s easy as 1.2.3 🙂
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
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 🙂