Range breakout-indicator

Forums ProRealTime English forum ProBuilder support Range breakout-indicator

Viewing 5 posts - 1 through 5 (of 5 total)
  • #236492

    Hi. Im trying to write an indicator for this, but not getting it right.

    What we are looking for is a price consolidation that usually stays within a 10-40 point range.

    We want to see the price stay within this range for at least 5 candlesticks, where a lower timeframe (TF) would require more bars to confirm the consolidation.

    The example picture  is on a 15-minute TF for Tech100

    Next, we want to see the price break out with reasonable strength, where at least 50% of the breakout bar is outside this “box.”

    There are two different approaches for trading this:

    1. If the trend is upward, we take an entry at the bottom of the consolidation after a certain number of bars, and the opposite at the top if the trend is downward.
    2. An entry is taken as the breakout occurs, preferably when the breakout bar is outside the box, to avoid false moves.

    This pattern can also occur in larger intervals. For example, we have a range of over 100 points on NAS in a 5-minute TF.

    The main rule is that we want to see the price find clear resistance on both the upside and downside, and then break out with significant strength.

    #236498

    The are so many syntax errors befiore you can say if it works or not.

    First you have to correct them.

     

    #236501

    Im not that good in cooding.
    Would you help me?

    #236510

    Here is below a modified version of your code that work “ok” for me:

     

    2 users thanked author for this post.
    #236512

    Is must be a code snippet by some AI code generator, as no one could find those instruction formats in the PRT manual and the online PRC documentation.

    This is the error free code:

    1 user thanked author for this post.
Viewing 5 posts - 1 through 5 (of 5 total)

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