How to define a Retracement Bar

• 02/21/2022 at 4:21 AM #188583
  Mary

  Hello,

  I want to place an indicator arrow on a candle bar that has retraced down 45 % from its high, so the wick is at least 45% down from the candle top to the body, how do I define it in Prorealtime?  Same goes for retracement from low of candle, wick retraces at least 45% up from low of candle to body.

  I made this code below but its not correct because its giving me Close and not Retracement of actual wick like I want. Can someone  please help. Thank you.

  IF close <= low + Range * 0.45 THEN
  DRAWARROWDOWN (barindex[1],HIGH [1])coloured(255,10,10)
  elsif close >= low + Range *0.45 THEN
  DRAWARROWUP(barindex[1],low[1])coloured(10,255,10)
  endif
  RETURN

   

   

  

  Mary

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  02/21/2022 at 5:46 AM #188584
  robertogozzi

  This should do (not tested):

  UpperWick = high - max(open, close) LowerWick = min(open,close) - low UpperRetracement = (UpperWick >= (range * 0.45)) LowerRetracement = (LowerWick >= (range * 0.45)) IF UpperRetracement THEN
 DRAWARROWDOWN (barindex[1],HIGH [1])coloured(255,10,10) 
elsif LowerRetracement THEN DRAWARROWUP(barindex[1],low[1])coloured(10,255,10)
 endif RETURN

  1 2 3 4 5 6 7 8 9 10

  UpperWick = high - max(open, close) LowerWick = min(open,close) - low UpperRetracement = (UpperWick >= (range * 0.45)) LowerRetracement = (LowerWick >= (range * 0.45)) IF UpperRetracement THEN    DRAWARROWDOWN (barindex[1],HIGH [1])coloured(255,10,10) elsif LowerRetracement THEN    DRAWARROWUP(barindex[1],low[1])coloured(10,255,10) endif RETURN

   

  

  robertogozzi

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  02/21/2022 at 6:06 AM #188585
  Mary

  Hi Robert,

  Thank you! Got it working! Thank you very much!

   

   

  

  Mary

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  02/21/2022 at 7:30 AM #188586
  Mary

  Hi Robert, after testing this code I find that it is incorrect somehow. If you look at my attached pic below the wicks are not retraced at least 45% of the range as you can see in the pic where the indicators are marked, somehow the code is not picking it up. Any way to adjust it please? Thank you.

  UpperWick = high – max(open, close)
  LowerWick = min(open,close) – low
  UpperRetracement = (UpperWick >= (range * 0.45))
  LowerRetracement = (LowerWick >= (range * 0.45))
  IF UpperRetracement THEN
  DRAWARROWDOWN (barindex[1],HIGH [1])coloured(255,10,10)
  elsif LowerRetracement THEN
  DRAWARROWUP(barindex[1],low[1])coloured(10,255,10)
  endif
  RETURN

  

  Mary

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  02/21/2022 at 9:55 AM #188595
  robertogozzi

  It sounds correct.

  Arrows are plotted on the prior candlestick.

  Remove [1]  from the plotting instructions.

   

  

  robertogozzi

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  02/21/2022 at 10:36 PM #188629
  Mary

  Thank you Robert, its working now!

  

  Mary

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