Pinbar on MA + Validation

• 01/17/2024 at 8:48 AM #226450
  ChristosDG

  Hello everyone,

   

  I’m trying to build a detector for pinbars on 1 minute charts rebounding on H1 & D1 moving averages, pinbars followed by a validation candlestick (meaning that the following candlestick has to at least break the pinbar in its intended direction).

   

  I’m confused… it doesn’t work that well…

  Meaning by that that many pinbars on MA remain undetected.

   

  Would you please have a look?

  // Parameters myATR = AverageTrueRange[14](close[1]) distance = 10*TICKSIZE // MA timeframe(1 hour) MA20H1 = Average[20](close) MA50H1 = Average[50](close) MA200H1 = Average[200](close) timeframe(1 day) MA20D1 = Average[20](close) MA50D1 = Average[50](close) MA200D1 = Average[200](close) timeframe(1 minute) IF Close[1] > MA20H1 - distance AND Close[1] < MA20H1 THEN result = 2 ELSIF Close[1] < MA20H1 + distance AND Close[1] > MA20H1 THEN result = 1 ELSIF Close[1] > MA50H1 - distance AND Close[1] < MA50H1 THEN result = 2 ELSIF Close[1] < MA50H1 + distance AND Close[1] > MA50H1 THEN result = 1 ELSIF Close[1] > MA20D1 - distance AND Close[1] < MA20D1 THEN result = 2 ELSIF Close[1] < MA20D1 + distance AND Close[1] > MA20D1 THEN result = 1 ELSIF Close[1] > MA50D1 - distance AND Close[1] < MA50D1 THEN result = 2 ELSIF Close[1] < MA50D1 + distance AND Close[1] > MA50D1 THEN result = 1 ELSIF Close[1] > MA200H1 - distance AND Close[1] < MA200H1 THEN result = 2 ELSIF Close[1] < MA200H1 + distance AND Close[1] > MA200H1 THEN result = 1 ELSIF Close[1] > MA200D1 - distance AND Close[1] < MA200D1 THEN result = 2 ELSIF Close[1] < MA200D1 + distance AND Close[1] > MA200D1 THEN result = 1 ELSE result = 0 ENDIF // Pinbar + validation + MA IF result = 2 THEN IF close[1] + myATR > close[0] + 3*TICKSIZE OR close[1] - myATR < close[0] - 3*TICKSIZE THEN IF (high[1] - low[1]) > 2*abs(close[1] - open[1]) THEN IF (close[1] < open[1]) AND (open[1] - low[1]) < 0.33*(high[1] - low[1]) OR (close[1] - low[1]) < 0.33*(high[1]-low[1]) AND open[0] < (high[1] - myATR) THEN DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10) ELSIF (close[1] < open[1]) AND (open[1] - low[1]) < 0.33*(high[1] - low[1]) OR (close[1] - low[1]) < 0.33*(high[1]-low[1]) AND open[0] > (high[1] - myATR) THEN DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10) ENDIF ENDIF ENDIF ELSIF result = 1 THEN IF close[1] + myATR > close[0] + 3*TICKSIZE OR close[1] - myATR < close[0] - 3*TICKSIZE THEN IF (high[1] - low[1]) > 2*abs(close[1] - open[1]) THEN IF (open[1] < close[1]) AND (high[1] - open[1]) < 0.33*(high[1] - low[1]) OR (high[1] - close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10) ELSIF (open[1] < close[1]) AND (high[1] - open[1]) < 0.33*(high[1] - low[1]) OR (high[1] - close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10) ENDIF ENDIF ENDIF ENDIF RETURN

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  // Parameters   myATR = AverageTrueRange[14](close[1]) distance = 10*TICKSIZE   // MA   timeframe(1 hour) MA20H1 = Average[20](close) MA50H1 = Average[50](close) MA200H1 = Average[200](close)   timeframe(1 day) MA20D1 = Average[20](close) MA50D1 = Average[50](close) MA200D1 = Average[200](close)   timeframe(1 minute) IF Close[1] > MA20H1 - distance AND Close[1] < MA20H1 THEN result = 2 ELSIF Close[1] < MA20H1 + distance AND Close[1] > MA20H1 THEN result = 1 ELSIF Close[1] > MA50H1 - distance AND Close[1] < MA50H1 THEN result = 2 ELSIF Close[1] < MA50H1 + distance AND Close[1] > MA50H1 THEN result = 1 ELSIF Close[1] > MA20D1 - distance AND Close[1] < MA20D1 THEN result = 2 ELSIF Close[1] < MA20D1 + distance AND Close[1] > MA20D1 THEN result = 1 ELSIF Close[1] > MA50D1 - distance AND Close[1] < MA50D1 THEN result = 2 ELSIF Close[1] < MA50D1 + distance AND Close[1] > MA50D1 THEN result = 1 ELSIF Close[1] > MA200H1 - distance AND Close[1] < MA200H1 THEN result = 2 ELSIF Close[1] < MA200H1 + distance AND Close[1] > MA200H1 THEN result = 1 ELSIF Close[1] > MA200D1 - distance AND Close[1] < MA200D1 THEN result = 2 ELSIF Close[1] < MA200D1 + distance AND Close[1] > MA200D1 THEN result = 1 ELSE result = 0 ENDIF   // Pinbar + validation + MA   IF result = 2 THEN IF close[1] + myATR > close[0] + 3*TICKSIZE OR close[1] - myATR < close[0] - 3*TICKSIZE THEN IF (high[1] - low[1]) > 2*abs(close[1] - open[1]) THEN IF (close[1] < open[1]) AND (open[1] - low[1]) < 0.33*(high[1] - low[1]) OR (close[1] - low[1]) < 0.33*(high[1]-low[1]) AND open[0] < (high[1] - myATR) THEN DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10) ELSIF (close[1] < open[1]) AND (open[1] - low[1]) < 0.33*(high[1] - low[1]) OR (close[1] - low[1]) < 0.33*(high[1]-low[1]) AND open[0] > (high[1] - myATR) THEN DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10) ENDIF ENDIF ENDIF ELSIF result = 1 THEN IF close[1] + myATR > close[0] + 3*TICKSIZE OR close[1] - myATR < close[0] - 3*TICKSIZE THEN IF (high[1] - low[1]) > 2*abs(close[1] - open[1]) THEN IF (open[1] < close[1]) AND (high[1] - open[1]) < 0.33*(high[1] - low[1]) OR (high[1] - close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10) ELSIF (open[1] < close[1]) AND (high[1] - open[1]) < 0.33*(high[1] - low[1]) OR (high[1] - close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10) ENDIF ENDIF ENDIF ENDIF   RETURN

   

   

  Thanks a bunch!

  

  ChristosDG

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  01/18/2024 at 10:33 AM #226501
  JC_Bywan

  Hi,

  There are many “if”, it is likely a pinbar you consider should have been detected is filtered away by the combination of ifs, the best way to proceed is to name your all conditions for each “if”, not just the ones in “timeframe(1mn)” but also these in “Pinbar + validation + MA”, for example c1=… , c2=… , and add use “if c1 then if c2 then…”, but you can choose more explicit variable names to know right away what each condition is about if you wish. Then you can add them to your return line, and display this indicator second version in a separate pane.

  return c1 as “c1”, c2 as “c2”, etc…

  This way, when you see a pinbar you consider should have been detected instead of filtered away, you can check exactly what condition isn’t met in the separate pane of conditions. From there, you can conclude whether it was in fact rightly undetected and no modifiction is needed, or if it’s an error to fix in the code not reflecting your desired criteria now knowing exactly what condition is at fault.

  

  JC_Bywan

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  01/19/2024 at 2:11 AM #226562
  ChristosDG

  Thanks for the suggestion.

   

  I made a few tweaks to the code.

   

  And as to be able to test it correctly, I just use a small part of the code, instead of the whole thing (see below).

   

  My main preoccupation for the moment is that, no matter what I input as “Average[XX](close)”, the rebound only happen on the MA 20 1 minute (where XX = 1200 periods = H1).

   

  I don’t see what’s wrong in the code, really…

   

  // If you wish to change the time unit, don’t forget to adjust the periods of the moving averages (according to the stockmarket’s open hours as well)

  // Parameters

  myATR = AverageTrueRange[14](close[1]) // Confirmation distance of the pattern from the highest / lowest of the pinbar (on the next candlestick)
  distance = 6*PIPSIZE // Limit within which the pinbar must be contained (around each moving average)

  ma11 = Average[1200](close) // Moving average 20 (H1) in a 1 minute time unit (for markets open from 9h to 17h30)

  // Patterns within MA distance

  c01 = High[1] < ma11 + distance AND High[1] > ma11 // High contained above and in the defined limit around the MA
  c02 = High[1] > ma11 – distance AND High[1] < ma11 // High contained below and in the defined limit around the MA
  c03 = Close[1] < ma11 + distance AND Close[1] > ma11 // Close contained above and in the defined limit around the MA
  c04 = Close[1] > ma11 – distance AND Close[1] < ma11 // Close contained below and in the defined limit around the MA
  c05 = Low[1] < ma11 + distance AND Low[1] > ma11 // Low contained above and in the defined limit around the MA
  c06 = Low[1] > ma11 – distance AND Low[1] < ma11 // Low contained below and in the defined limit around the MA
  c07 = High[1] > Open[1] AND High[1] > Close[1] // High > Open & Close
  c08 = Low[1] < Open[1] AND Low[1] < Close[1] // Low < Open & Close

  // MA – Only 1 MA on 3 kept / Only 1 pattern on 4 kept

  IF c06 AND c03 AND c08 THEN
  result = 1

  ENDIF

  // Pinbar + validation + MA

  IF result = 2 THEN
  IF (high[1] – low[1]) > 2*abs(close[1] – open[1]) THEN
  IF (close[1] < open[1]) AND (open[1] – low[1]) < 0.33*(high[1] – low[1]) OR (close[1] – low[1]) < 0.33*(high[1]-low[1]) AND open[0] < (high[1] – myATR) THEN
  DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10)
  ELSIF (close[1] < open[1]) AND (open[1] – low[1]) < 0.33*(high[1] – low[1]) OR (close[1] – low[1]) < 0.33*(high[1]-low[1]) AND open[0] > (high[1] – myATR) THEN
  DRAWARROWDOWN(barindex[1],high[1]+6*TICKSIZE)coloured(255,10,10)
  ENDIF
  ENDIF
  ELSIF result = 1 THEN
  IF (high[1] – low[1]) > 2*abs(close[1] – open[1]) THEN
  IF (open[1] < close[1]) AND (high[1] – open[1]) < 0.33*(high[1] – low[1]) OR (high[1] – close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN
  DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10)
  ELSIF (open[1] < close[1]) AND (high[1] – open[1]) < 0.33*(high[1] – low[1]) OR (high[1] – close[1]) < 0.33*(high[1]-low[1]) AND open[0] > (low[1] + myATR) THEN
  DRAWARROWUP(barindex[1],low[1]-6*TICKSIZE)coloured(10,255,10)
  ENDIF
  ENDIF
  ENDIF

  RETURN

  

  ChristosDG

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  01/22/2024 at 1:43 AM #226691
  ChristosDG

  Reducing to the maximum…

   

  Let’s have a look at the conditions here…

   

  // Parameters

  distance = 6*PIPSIZE // Limit within which the pinbar must be contained (around each moving average)

  ma11 = Average[1200](close) // Moving average 20 (H1) in a 1 minute time unit (for markets open from 9h to 17h30)

  // 1 OPHL position on 6

  c01 = High[1] < ma11 + distance AND High[1] > ma11 // High contained above and in the defined limit around the MA
  c02 = Close[1] < ma11 + distance AND Close[1] > ma11 // Close contained above and in the defined limit around the MA
  c03 = Low[1] > ma11 – distance AND Low[1] < ma11 // Low contained below and in the defined limit around the MA
  c04 = High[1] > Open[1] AND High[1] > Close[1] // High > Open & Close

  // MA

  IF c01 AND c02 AND c03 AND c04 THEN
  result = 1

   

  How can it provide such a selection?? (see picture)

  

  ChristosDG

  Participant

  Topics: 4

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  01/22/2024 at 2:01 AM #226693
  ChristosDG

  Okay…

   

  As a start, I forgot to integrate:

   

  ELSE

  result = 0

   

  Which is maybe my only bad…

  

  ChristosDG

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