Help with wick rejection and price continuation

• 04/20/2022 at 8:18 AM #191936
  amitoverseas40

  Hi there,

  Looking for some help with creating and indicator and a screener for the following :-

  1. If the price gets rejected within the last 5 candles by wicks to go in a certain direction but eventually gets filled by the wick on 6th candle then an arrow (up or down) and alert to be raised in the indicator.

  2. Same as above in the screener just the appearance of conditions being met.

  On any timeframe please.

  Anyone kind enough to help please?

  Ta

  

  amitoverseas40

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  04/20/2022 at 3:26 PM #191971
  Nicolas

  so that’s a breakout of a 5 periods donchian channel?

  

  Nicolas

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  04/20/2022 at 3:39 PM #191973
  amitoverseas40

  Hi Nicolas, just a simple breakout of the wicks, no indicator here. Thanks for your response!

  

  amitoverseas40

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  04/20/2022 at 8:48 PM #191989
  JS

  Wick rejection

  If High > Highest[5](High[1]) then DrawArrowUp(BarIndex,High + 10)coloured(10,255,10) EndIf If Low < Lowest[5](Low[1]) then DrawArrowDown(BarIndex,Low - 10)coloured(255,10,10) EndIf Return

  1 2 3 4 5 6 7 8 9

  If High > Highest[5](High[1]) then DrawArrowUp(BarIndex,High + 10)coloured(10,255,10) EndIf   If Low < Lowest[5](Low[1]) then DrawArrowDown(BarIndex,Low - 10)coloured(255,10,10) EndIf   Return

  Hi @amitoverseas40

  Something like this?

   

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  Nicolas

  

  JS

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  04/20/2022 at 11:15 PM #191996
  amitoverseas40

  Hi @JS, thanks for the response.

  Nicolas posted a simply indcator a while back that displays the pinbar (Below).

  I want this to be extended and include the reversal as displayed in the picture.

  So if the price is rejected via pinbar to move UP but still moved UP and candle closed HIGHER or equal to the pinbar than , arrow DOWN, alert and screener display.

  Similarly,  if the price is rejected via pinbar to DOWN but still moved down and candle closed LOWER or equal to the pinbar than , arrow DOWN, alert and screener display.

  We can look at last 5 candles maximum for this strategy to work. Effectively a pin bar break.

  —-CODE BY NICOLAS——

  shooting = (min(open,close)-low)/range<=.3 and (open-low)/range<=.5 and (close-low)/range<=.5 and pointsize <> 20
  hammer = (high-max(open,close))/range<=.3 and (high-open)/range<=.5 and (high-close)/range<=.5 and pointsize <> 20

  return -shooting,hammer

  ————————–

  

  amitoverseas40

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  04/20/2022 at 11:17 PM #191997
  amitoverseas40

  Nicolas wrote:

  so that’s a breakout of a 5 periods donchian channel?

  Hi Nicolas, just looked at your previous posts, some fantastic work done by you!

  You posted an indicator as help to someone a while back. I want this to be extended and include the reversal as displayed in the picture.

  So if the price is rejected via pinbar to move UP but still moved UP and candle closed HIGHER or equal to the pinbar than , arrow DOWN, alert and screener display.

  Similarly, if the price is rejected via pinbar to DOWN but still moved down and candle closed LOWER or equal to the pinbar than , arrow DOWN, alert and screener display.

  We can look at last 5 candles maximum for this strategy to work. Effectively a pin bar break.

  —-YOUR CODE——

  shooting = (min(open,close)-low)/range<=.3 and (open-low)/range<=.5 and (close-low)/range<=.5 and pointsize <> 20
  hammer = (high-max(open,close))/range<=.3 and (high-open)/range<=.5 and (high-close)/range<=.5 and pointsize <> 20

  return -shooting,hammer

  ————————–

  

  amitoverseas40

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  04/21/2022 at 9:29 PM #192042
  amitoverseas40

  Can anyone help please??

  

  amitoverseas40

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  04/22/2022 at 7:46 AM #192051
  Nicolas

  So now that you included pinbars in your description, the code should be like this:

  shooting = (min(open,close)-low)/range<=.3 and (open-low)/range<=.5 and (close-low)/range<=.5 and pointsize <> 20 hammer = (high-max(open,close))/range<=.3 and (high-open)/range<=.5 and (high-close)/range<=.5 and pointsize <> 20 if shooting then hi = high elsif hammer then lo = low endif signal = 0 if close crosses over hi or close=hi then drawarrowup(barindex,high) signal = 1 elsif close crosses under lo or close=lo then drawarrowdown(barindex,low) signal = -1 endif return signal, hi coloured("green"),lo coloured("red")

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  shooting = (min(open,close)-low)/range<=.3 and (open-low)/range<=.5 and (close-low)/range<=.5 and pointsize <> 20 hammer = (high-max(open,close))/range<=.3 and (high-open)/range<=.5 and (high-close)/range<=.5 and pointsize <> 20   if shooting then hi = high elsif hammer then lo = low endif   signal = 0 if close crosses over hi or close=hi then drawarrowup(barindex,high) signal = 1 elsif close crosses under lo or close=lo then drawarrowdown(barindex,low) signal = -1 endif   return signal, hi coloured("green"),lo coloured("red")

  Use the code in the screener assisted creation and the first variable “signal” in order to generate the screener.

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  amitoverseas40

  

  Nicolas

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  04/22/2022 at 11:24 AM #192062
  amitoverseas40

  Nicolas wrote:

  shooting = (min(open,close)-low)/range<=.3 and (open-low)/range<=.5 and (close-low)/range<=.5 and pointsize <> 20 hammer = (high-max(open,close))/range<=.3 and (high-open)/range<=.5 and (high-close)/range<=.5 and pointsize <> 20 if shooting then hi = high elsif hammer then lo = low endif signal = 0 if close crosses over hi or close=hi then drawarrowup(barindex,high) signal = 1 elsif close crosses under lo or close=lo then drawarrowdown(barindex,low) signal = -1 endif return signal, hi coloured(“green”),lo coloured(“red”)

  Hi Nicolas, thank you very much, much appreciated!

  This in conjunction with tested levels from Vonasi is a good combination. Albeit tested levels I requested for alert raised when closed above certain levels i.e. when price close above green and close below red, to Vonasi.

  

  amitoverseas40

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