Pocket pivot indicator

• 01/05/2021 at 8:47 AM #156377
  Alfy

  Good morning, once again thanks for your help with this. I used the exact code you helped me with (attached) but it doesn’t seem to work properly. i tested it on the ETF PHSP (LSE) and the indicator should have picked up that yesterday was an “up day” with volume greater than the previous 10 “down days” but sadly it didn’t. Yesterday was an up day (close higher than previous close) and volume of 72k when the highest volume of the last 10 down days was around 45.8k. Could you see where its going wrong please?

  Thanks in advance and sorry for the trouble.

  pocket pivot

  maxDay = 10 maxDownDayVol = 0 count = 0 if barindex >= maxday then FOR d = 1 TO barindex DO IF Close[d] < open[d] THEN count = count + 1 maxDownDayVol = max(volume[d],maxdowndayvol) if count = 10 then break endif ENDIF NEXT ind1 = (volume > maxDownDayvol) and (close > open) endif RETURN ind1 COLOURED (0,0,200) AS "Pivot Pocket"

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

  maxDay = 10 maxDownDayVol = 0 count = 0 if barindex >= maxday then FOR d = 1 TO barindex DO IF Close[d] < open[d] THEN count = count + 1 maxDownDayVol = max(volume[d],maxdowndayvol) if count = 10 then break endif ENDIF NEXT ind1 = (volume > maxDownDayvol) and (close > open) endif RETURN ind1 COLOURED (0,0,200) AS "Pivot Pocket"

  

  Alfy

  Participant

  Topics: 34

  Replies: 53

  Been thanked: 5 times
  01/05/2021 at 12:42 PM #156430
  Vonasi

  I don’t see 10 red candles with lower volume. I see the fourth red candle before having much bigger volume.

  The indicator seems to be working just fine.

  1 user thanked author for this post.

  Alfy

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
  01/08/2021 at 10:09 AM #156866
  Alfy

  Good morning, thanks for your last reply. I have one simple qstion regarding the original code i queried about if you dont mind which ive copied in this message. The code counts as an up day “close>open” and a down day as “close d – open d.” Can you tell me how to change the code so that a down day is considered as close < close of the previous day rather than close versus open?

  Thanks for your patience

  pocket pivot

  daystoconfirmuptrend = 50 cPrc1 = (close > Average[daysToConfirmUpTrend](close) AND Close > open) maxDay = 10 maxDownDay = 0 maxdown = 0 FOR d = 1 TO maxDay DO r = Close[d] - open[d] IF r <0 and volume[d]> maxDown THEN maxDown = volume[d] maxDownDay = d ENDIF NEXT IF maxDownday = 0 THEN maxDowndayVol=0 ELSE maxDowndayvol = volume[maxdownday] ENDIF cVol2 = (volume > maxDownDayvol) Cprc2 = (close >= Average[20](close)) Cprc3 = (close CROSSES OVER Average[10](close) OR Close CROSSES OVER Average[50](close)) cPrc11 = (close > (high + low) *0.5) Cprc13 = (close[1] < highest[65](close)) ind1 = (cPrc1 AND cPrc2 AND (cPrc3 OR 1) AND cVol2 AND (cPrc11 OR 1) AND (cPrc13 OR 1)) RETURN ind1 COLOURED (0,0,200) AS "Pivot Pocket"

  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

  daystoconfirmuptrend = 50 cPrc1 = (close > Average[daysToConfirmUpTrend](close) AND Close > open) maxDay = 10 maxDownDay = 0 maxdown = 0 FOR d = 1 TO maxDay DO r = Close[d] - open[d] IF r <0 and volume[d]> maxDown THEN maxDown = volume[d] maxDownDay = d ENDIF NEXT IF maxDownday = 0 THEN maxDowndayVol=0 ELSE maxDowndayvol = volume[maxdownday] ENDIF cVol2 = (volume > maxDownDayvol) Cprc2 = (close >= Average[20](close)) Cprc3 = (close CROSSES OVER Average[10](close) OR Close CROSSES OVER Average[50](close)) cPrc11 = (close > (high + low) *0.5) Cprc13 = (close[1] < highest[65](close)) ind1 = (cPrc1 AND cPrc2 AND (cPrc3 OR 1) AND cVol2 AND (cPrc11 OR 1) AND (cPrc13 OR 1)) RETURN ind1 COLOURED (0,0,200) AS "Pivot Pocket"

  

  Alfy

  Participant

  Topics: 34

  Replies: 53

  Been thanked: 5 times
  01/08/2021 at 11:18 AM #156884
  Vonasi

  Use:

  close < close[1]

  1	close < close[1]

  and

  close[d] - close[d+1]

  1	close[d] - close[d+1]

   

  1 user thanked author for this post.

  Alfy

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
• Author
  Posts