Reversal long

  • This topic has 6 replies, 4 voices, and was last updated 3 weeks ago by avatarJS.
Viewing 7 posts - 1 through 7 (of 7 total)
  • #238845

    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?

     

    #238869

    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.

    #238876

    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.

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

    #238878

    There you go:

     

    #238880

    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.

    #238900

    This is what you just asked:

     

    #238928
    JS

    Hi,

    Try this one:

Viewing 7 posts - 1 through 7 (of 7 total)

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