Drawn variables as text can’t be rounded with no digit.. So I assume I need to type 9 times*2 in the code to avoid the .0 digits .. argh 🙂
I’m going first to make it “live”, understand counting in real time and not draw the 9th count once when its finish already.
In the meantime, could you please explain us a bit how to you use this indicator and what it is so ‘useful’ to you? Once it will be finished, I’ll add it to the library and I’d like to add explanations for it. Thanks.
Well, it is called a swingcounter and it’s main job is to signal a reversal.
when a full swing +9 or -9 has appeared the chances of an upcoming bottom or a top increases a lot. A fully upswing +9 combined with a red 10th candle suggest to exit your long position. Its the same for a downswing -9 combined with a 10th green candle means exit your short position.
This indicator combined with the bollingerbands RSI works fantastic!
Look at the image I attache to this message. It is a 1 hour chart of the S&P at this moment. You will see that the swing 9 has almost completed. The RSI is now on overbought. When a red hour candle appears its time to exit your long position!
I hope you can make it work for the swingcounter to start with showing 1
If only at the end of a full swing of 9 would be shown it will be to late to respond to it
System i use is for a swing to start with 1 and confirmid the next day with a 2 i step in and (hopefully ) it will last a full swing to 9.
Im sorry if some things would mean for you to do a lot of coding but trust me it will be greatly appriciated !!
If i can do something on that part please let me know i would be more then willing to do the shit stuff for you 🙂
Maybe i sound greedy now 🙂 but it would be awesome if its possible to make a screener next to the indicator that shows all the stocks, or whatever, that has the start of a swing 1 up or 1 down. Then i think the swingcounter would be complete and very easy to use on a daily basis or any timeframe ofcource.
I’m afraid it’s not possible to make the counter appearing in real time and erase the already numbers drawn on chart. Probuilder don’t allow to erase graphical objects already drawn and because we cannot change variables arrays..
This is something I’m often stuck with, but I thought I could do something for this indicator though.. I’ll try another idea tomorrow.
You can make it happen for the swing to start with 1 and appear on the chart are you?
Maybe as an alternative you can do this :
If a swing count starts and fails at, lets say, day 5 you put something like “Fail” or “Swingend” or some other stop sign.. That way you dont have to erase anything.
Would maybe even better, we are more able to check how many time a swing fails and how many times it goes the full length.
for the rest ill leave it up to you to find any better solution but i can imagine its hard if things cant be erased anymore
Yes, delete previous counting would mean not to draw them at all, and since we don’t know what will happen in the next candlestick, it’s not possible..
I would ask this morning how you’d like the false counting to be displayed and you already answered it with the “fail” text idea. That’s ok to do it like this I think.
About the screener, it’s already possible to make it, but does it needs to have any RSI condition in it?
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