Reversal long

• 10/11/2024 at 7:25 AM #238845
  SnorreDK

  Hi.

  Idea:

  • 4 hits within a 10-point price range (e.g., 20000, 20007, 20002, 20007).
    • Find support
  • These hits should happen within a time limit of 20 bars.
  • each candle must be within a size of 35-85 points (the difference between its high and low).
  • enter long after fourth hit

   

  ChatGTP that did not get it right. Can Anyone help me out?

  Long reversal

  // Strategy parameters rangeLimit = 10 // 10-point range for hits barLimit = 20 // Max 20 bars to evaluate for hits minCandleSize = 35 // Minimum candle size in points maxCandleSize = 85 // Maximum candle size in points // Initialize variables hits = 0 lowestPrice = high highestPrice = low entrySignal = 0 // Loop through the last 20 bars to check for hits FOR i = 1 TO barLimit DO candleSize = high[i] - low[i] // Calculate the candle size // Check if the candle size is between 35 and 85 points IF (candleSize >= minCandleSize AND candleSize <= maxCandleSize) THEN // If price hits the bottom within a 10-point range IF (low[i] <= lowestPrice + rangeLimit AND low[i] >= lowestPrice) THEN hits = hits + 1 // Count the hit // Update lowest and highest hits within the range lowestPrice = MIN(low[i], lowestPrice) highestPrice = MAX(low[i], highestPrice) ENDIF // Check the spread between the lowest and highest hits (must stay within 10 points) hitRange = highestPrice - lowestPrice IF hitRange > rangeLimit THEN hits = 0 // Reset hits if the spread exceeds 10 points BREAK ENDIF ENDIF NEXT // Check if 4 hits have occurred within the range IF hits >= 4 THEN entrySignal = 1 // Generate an entry signal ENDIF // Place a market order when an entry signal is triggered IF entrySignal THEN BUY 1 CONTRACT AT MARKET ENDIF

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  // Strategy parameters rangeLimit = 10  // 10-point range for hits barLimit = 20    // Max 20 bars to evaluate for hits minCandleSize = 35  // Minimum candle size in points maxCandleSize = 85  // Maximum candle size in points   // Initialize variables hits = 0 lowestPrice = high highestPrice = low entrySignal = 0   // Loop through the last 20 bars to check for hits FOR i = 1 TO barLimit DO candleSize = high[i] - low[i]  // Calculate the candle size      // Check if the candle size is between 35 and 85 points IF (candleSize >= minCandleSize AND candleSize <= maxCandleSize) THEN // If price hits the bottom within a 10-point range IF (low[i] <= lowestPrice + rangeLimit AND low[i] >= lowestPrice) THEN hits = hits + 1  // Count the hit // Update lowest and highest hits within the range lowestPrice = MIN(low[i], lowestPrice) highestPrice = MAX(low[i], highestPrice) ENDIF          // Check the spread between the lowest and highest hits (must stay within 10 points) hitRange = highestPrice - lowestPrice IF hitRange > rangeLimit THEN hits = 0  // Reset hits if the spread exceeds 10 points BREAK ENDIF ENDIF NEXT   // Check if 4 hits have occurred within the range IF hits >= 4 THEN entrySignal = 1  // Generate an entry signal ENDIF   // Place a market order when an entry signal is triggered IF entrySignal THEN BUY 1 CONTRACT AT MARKET ENDIF

   

  

  SnorreDK

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  10/11/2024 at 1:20 PM #238869
  SnorreDK

  I still need Help to do this:

  Ivan, Roberto? 🙂

  
  Strategy Conditions:
  Range Calculation (RangeBars):

  The strategy calculates the range of price movement (highest high minus lowest low) over  20 bars.
  The range (referred to as RangeBars) must be between 30 and 80 points for the strategy to proceed.

  Bounce Detection:

  A “bounce” refers to a candlestick where the low is within 10 points of the lowest low over the last 20 bars. This low is considered as forming or aligning with a support line.
  The strategy loops through each of the last 20 bars and counts how many of these bars qualify as “bounces.”
  Entry Condition:

  The strategy will only enter a trade if 4 or more bounces (candles near the support line) are identified within the last 20 bars.

   

  Stop Loss:

  The stop loss is set to 20 points below the lowest identified bounce (support level) within the 20-bar window.

  Exit Condition:

  The strategy will exit the position if the price closes below the 14-period Exponential Moving Average (EMA14).

  Key Parameters:

  • nBars: 20 bars used for range and bounce detection.
  • rangeMin: Minimum range of 30 points for valid trades.
  • rangeMax: Maximum range of 80 points for valid trades.
  • bounceThreshold: Threshold of 10 points within which a candle’s low must fall to be counted as a bounce (support line validation).
  • stopLossBuffer: 20 points below the lowest detected bounce (support) for setting stop loss.
  • emaPeriod: 14-period EMA used for exit condition.

  The strategy aims to identify support levels by detecting multiple bounces (candles with lows near the support line) before entering a trade. The trade is initiated only when there is enough confirmation of support in the form of multiple bounces, and the stop loss is set just below this support level to minimize risk.

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Define parameters nBars = 20 // Period to calculate RangeBars rangeMin = 30 rangeMax = 80 studsThreshold = 10 stopLossBuffer = 20 emaPeriod = 14 // EMA for exit condition ema14 = ExponentialAverage[emaPeriod](close) // Define the RangeBars calculation highestHigh = highest[nBars](high) lowestLow = lowest[nBars](low) rangeBars = highestHigh - lowestLow // Store the lowest low over the last nBars lowestLow = lowest[nBars](low) // Initialize counter for studs and tracking the lowest bounce countStudsar = 0 lowestBounce = low[0] // Start value for the lowest bounce // Check if the RangeBars over the last 20 bars is within 30-80 points IF RangeBars >= rangeMin AND RangeBars <= rangeMax THEN // Loop through the last nBars to identify studs FOR i = 0 TO nBars-1 DO // Check if candle lows are within the threshold (10 points) from the lowestLow IF ABS(Low[i] - lowestLow) <= studsThreshold THEN countStudsar = countStudsar + 1 lowestBounce = MIN(lowestBounce, Low[i]) // Update the lowest bounce ENDIF NEXT // Entry condition: Only enter if 4 or more studs have been identified IF countStudsar >= 4 THEN // Ensure no multiple entries if already on the market IF NOT ONMARKET THEN // Buy at market when entry condition is met BUY 1 CONTRACT AT MARKET // Set stop loss 20 points below the lowest identified bounce SET STOP pLOSS (lowestBounce - stopLossBuffer) ENDIF ENDIF ENDIF // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF

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  DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Define parameters nBars = 20 // Period to calculate RangeBars rangeMin = 30 rangeMax = 80 studsThreshold = 10 stopLossBuffer = 20 emaPeriod = 14   // EMA for exit condition ema14 = ExponentialAverage[emaPeriod](close)   // Define the RangeBars calculation highestHigh = highest[nBars](high) lowestLow = lowest[nBars](low) rangeBars = highestHigh - lowestLow // Store the lowest low over the last nBars lowestLow = lowest[nBars](low)   // Initialize counter for studs and tracking the lowest bounce countStudsar = 0 lowestBounce = low[0] // Start value for the lowest bounce   // Check if the RangeBars over the last 20 bars is within 30-80 points IF RangeBars >= rangeMin AND RangeBars <= rangeMax THEN // Loop through the last nBars to identify studs FOR i = 0 TO nBars-1 DO // Check if candle lows are within the threshold (10 points) from the lowestLow IF ABS(Low[i] - lowestLow) <= studsThreshold THEN countStudsar = countStudsar + 1 lowestBounce = MIN(lowestBounce, Low[i]) // Update the lowest bounce ENDIF NEXT   // Entry condition: Only enter if 4 or more studs have been identified IF countStudsar >= 4 THEN // Ensure no multiple entries if already on the market IF NOT ONMARKET THEN // Buy at market when entry condition is met BUY 1 CONTRACT AT MARKET              // Set stop loss 20 points below the lowest identified bounce SET STOP pLOSS (lowestBounce - stopLossBuffer) ENDIF ENDIF ENDIF   // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF

  

  SnorreDK

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  10/11/2024 at 3:46 PM #238876
  Iván

  Hi! Beyond the logic of the system there are some things that are not right. You must include the pipsize expression in the control ranges and levels for the calculation to make sense.

  RangeBars >= rangeMin*pipsize AND RangeBars <= rangeMax*pipsize)

  1	RangeBars >= rangeMin*pipsize AND RangeBars <= rangeMax*pipsize)

  ABS(Low[i] - lowestLow) <= studsThreshold*pipsize

  1	ABS(Low[i] - lowestLow) <= studsThreshold*pipsize

  SET STOP pLOSS stopLossBuffer

  1	SET STOP pLOSS stopLossBuffer

  I hope that with these changes you can draw conclusions and see if the strategy works or not.

  

  Iván

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  10/11/2024 at 4:10 PM #238878
  robertogozzi

  There you go:

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Define parameters nBars = 20 //20 Period to calculate RangeBars BounceBars = 4 //4 bouce periods rangeMin = 10 * PipSize rangeMax = 80 * PipSize studsThreshold = 10 * PipSize stopLossBuffer = 20 * PipSize emaPeriod = 14 // EMA for exit condition ema14 = ExponentialAverage[emaPeriod](close) // Define the RangeBars calculation highestHigh = highest[nBars](high) lowestLow = lowest[nBars](low) Count1 = 0 Count2 = 0 lowestBounce = 9999999 FOR i = 0 TO (nBars - 1) IF (range[i] >= rangeMin) AND (range[i] <= rangeMax) THEN Count1 = Count1 + 1 ENDIF IF (low[i] <> lowestLow) AND (abs(low[i] - lowestLow) <= studsThreshold) THEN Count2 = Count2 + 1 lowestBounce = min(lowestBounce,low[i]) ENDIF NEXT Rangebars = (Count1 = nBars) Bounce = (Count2 >= BounceBars) // Initialize counter for studs and tracking the lowest bounce IF (close > ema14) AND Not OnMarket AND RangeBars AND Bounce THEN BUY 1 Contract at Market StopLoss = lowestBounce - stopLossBuffer SET STOP PRICE StopLoss ENDIF // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF // //graphonprice StopLoss AS "Stop Loss" coloured("Red") //graphonprice TradePrice AS "Entry Price" coloured("Blue") //graphonprice lowestBounce

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  DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Define parameters nBars          = 20              //20  Period to calculate RangeBars BounceBars     = 4               //4   bouce periods rangeMin       = 10 * PipSize rangeMax       = 80 * PipSize studsThreshold = 10 * PipSize stopLossBuffer = 20 * PipSize emaPeriod      = 14   // EMA for exit condition ema14        = ExponentialAverage[emaPeriod](close)   // Define the RangeBars calculation highestHigh  = highest[nBars](high) lowestLow    = lowest[nBars](low) Count1       = 0 Count2       = 0 lowestBounce = 9999999 FOR i = 0 TO (nBars - 1) IF (range[i] >= rangeMin) AND (range[i] <= rangeMax) THEN Count1 = Count1 + 1 ENDIF IF (low[i] <> lowestLow) AND (abs(low[i] - lowestLow) <= studsThreshold) THEN Count2       = Count2 + 1 lowestBounce = min(lowestBounce,low[i]) ENDIF NEXT Rangebars = (Count1 = nBars) Bounce    = (Count2 >= BounceBars) // Initialize counter for studs and tracking the lowest bounce   IF (close > ema14) AND Not OnMarket AND RangeBars AND Bounce THEN BUY 1 Contract at Market StopLoss = lowestBounce - stopLossBuffer SET STOP PRICE StopLoss ENDIF   // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF // //graphonprice StopLoss   AS "Stop Loss"   coloured("Red") //graphonprice TradePrice AS "Entry Price" coloured("Blue") //graphonprice lowestBounce

   

  

  robertogozzi

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  10/11/2024 at 9:05 PM #238880
  SnorreDK

  I am very grateful for your help, Roberto. However, I can see that we haven’t quite reached the finish line yet.

  As you can see from the image, the range here is 145.5 points within 20 bars.
  The condition is that the range should be at least 35 points and at most 85 points.

  

  SnorreDK

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  10/12/2024 at 11:47 AM #238900
  robertogozzi

  This is what you just asked:

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Define parameters nBars = 20 //20 Period to calculate RangeBars BounceBars = 4 //4 bouce periods rangeMin = 10 * PipSize rangeMax = 80 * PipSize studsThreshold = 10 * PipSize stopLossBuffer = 20 * PipSize emaPeriod = 14 // EMA for exit condition ema14 = ExponentialAverage[emaPeriod](close) // Define the RangeBars calculation highestHigh = highest[nBars](high) lowestLow = lowest[nBars](low) myRange = highestHigh - lowestLow Rangebars = (myRange >= rangeMin) AND (myRange <= rangeMax) Count = 0 lowestBounce = 9999999 IF Rangebars THEN FOR i = 0 TO (nBars - 1) IF (low[i] <> lowestLow) AND (abs(low[i] - lowestLow) <= studsThreshold) THEN Count = Count + 1 lowestBounce = min(lowestBounce,low[i]) ENDIF NEXT ENDIF Bounce = (Count >= BounceBars) // Initialize counter for studs and tracking the lowest bounce IF (close > ema14) AND Not OnMarket AND Bounce THEN BUY 1 Contract at Market StopLoss = lowestBounce - stopLossBuffer SET STOP PRICE StopLoss ENDIF // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF // //graphonprice StopLoss AS "Stop Loss" coloured("Red") //graphonprice TradePrice AS "Entry Price" coloured("Blue") //graphonprice lowestBounce

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  DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Define parameters nBars          = 20              //20  Period to calculate RangeBars BounceBars     = 4               //4   bouce periods rangeMin       = 10 * PipSize rangeMax       = 80 * PipSize studsThreshold = 10 * PipSize stopLossBuffer = 20 * PipSize emaPeriod      = 14   // EMA for exit condition ema14        = ExponentialAverage[emaPeriod](close)   // Define the RangeBars calculation highestHigh  = highest[nBars](high) lowestLow    = lowest[nBars](low) myRange      = highestHigh - lowestLow Rangebars    = (myRange >= rangeMin) AND (myRange <= rangeMax)   Count        = 0 lowestBounce = 9999999 IF Rangebars THEN FOR i = 0 TO (nBars - 1) IF (low[i] <> lowestLow) AND (abs(low[i] - lowestLow) <= studsThreshold) THEN Count        = Count + 1 lowestBounce = min(lowestBounce,low[i]) ENDIF NEXT ENDIF Bounce = (Count >= BounceBars) // Initialize counter for studs and tracking the lowest bounce   IF (close > ema14) AND Not OnMarket AND Bounce THEN BUY 1 Contract at Market StopLoss = lowestBounce - stopLossBuffer SET STOP PRICE StopLoss ENDIF   // Exit condition: Close position if price crosses below the EMA14 IF close < ema14 THEN SELL AT MARKET ENDIF // //graphonprice StopLoss   AS "Stop Loss"   coloured("Red") //graphonprice TradePrice AS "Entry Price" coloured("Blue") //graphonprice lowestBounce

   

  

  robertogozzi

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  10/13/2024 at 11:12 AM #238928
  JS

  Hi,

  Try this one:

  Reversal Long

  DefParam CumulateOrders=False MinBounce=4 Bars=20 BounceThreshold=10*PipSize SLBuffer=20*PipSize TPBuffer=20*PipSize EMAPeriod=14 EMA14=ExponentialAverage[EMAPeriod](Close) RangeBarsMin=30*PipSize RangeBarsMax=80*PipSize HH=Highest[Bars](High) LL=Lowest[Bars](Low) RangeBars=HH-LL CheckRB=Summation[Bars](RangeBars>=RangeBarsMin and RangeBars<=RangeBarsMax)=20 CheckCondition=Summation[20](Low<=LL+BounceThreshold)=4 If CheckRB and CheckCondition and Close>EMA14 then//Bounce=MinBounce then//and Close>EMA14 then Buy 1 contract at Market SL=LL-SLBuffer Set Stop Price SL TP=HH+TPBuffer Set Target Price TP EndIf

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  DefParam CumulateOrders=False   MinBounce=4 Bars=20 BounceThreshold=10*PipSize SLBuffer=20*PipSize TPBuffer=20*PipSize EMAPeriod=14 EMA14=ExponentialAverage[EMAPeriod](Close)   RangeBarsMin=30*PipSize RangeBarsMax=80*PipSize   HH=Highest[Bars](High) LL=Lowest[Bars](Low) RangeBars=HH-LL   CheckRB=Summation[Bars](RangeBars>=RangeBarsMin and RangeBars<=RangeBarsMax)=20 CheckCondition=Summation[20](Low<=LL+BounceThreshold)=4   If CheckRB and CheckCondition and Close>EMA14 then//Bounce=MinBounce then//and Close>EMA14 then Buy 1 contract at Market SL=LL-SLBuffer Set Stop Price SL TP=HH+TPBuffer Set Target Price TP EndIf

  

  JS

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