cguthrie922

Range_Outlier_Action

This identifies Buy and Sell Points once the period high breaches the SMA High and period low breaches the SMA Low. It produces profitable results greater than 87% of the time. You should still monitor and set up stop-losses as appropriate.
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//Created by Chris Guthrie on September 11, 2016
study(title="Range_Outlier_Action", shorttitle="RNG_Outlier_Action", overlay=true)
bsa = input(true, title="Display Buy-Sell Arrows")
bsl = input(true, title="Display Buy-Sell Letters")
//Moving Averages
smaHI = sma(high, 10)
smaLO = sma(low, 10)
//Basic Criteria Schema
plHI = plot(smaHI, title="High MA", style=line, linewidth=2, color=lime)
plLO = plot(smaLO, title="Low MA", style=line, linewidth=2, color=red)
fill(plHI, plLO, color=silver, transp=75)
//Aggressive Trend Entry
entryADT = smaHI < high and smaHI < high[1] and high < high[1]
entryAUT = low < smaLO and low[1] < smaLO and low > low[1]
//Conservative Trend Entry
entryCDT = smaHI < high and smaHI < high [1] and high < high[1] and high < high [2]
entryCUT = low < smaLO and low[1] < smaLO and low > low[1] and low > low[2]
//Symbology
//plotarrow(bsa and entryADT ? entryADT : na, title="Aggressive Down Trend Entry", colordown=red, maxheight=30, minheight=30, transp=0)
//plotarrow(bsa and entryAUT ? entryAUT : na, title="Aggressive Up Trend Entry", colorup=lime, maxheight=30, minheight=30, transp=0)
plotchar(bsl and entryCDT ? entryCDT : na, title="Conservative Down Trend Entry", offset=0, char='S', location=location.abovebar, color=red, transp=0)
plotchar(bsl and entryCUT ? entryCUT : na, title="Conservative Up Trend Entry", offset=0, char='B', location=location.belowbar, color=lime, transp=0)
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Elliott Wave Ideas
Website: elliottwaveideas.com
Twitter: @chrisguthrieusa
Facebook: https://www.facebook.com/LimitlessLifeSkills/
Hi Chris,

Whats the time range the chart has to be tried for better results? Please advise.

Thanks,
Shastry
Antworten
cguthrie922 ShastryAnanth
It works on any range. I typically use 15, 30, 78 minutes and D, W. I am writing another one that combines Stoch (8,3,5). When the B or S signal display and the Stoch is at Overbought and Oversold levels has been a much stronger indicator of position entry.
Antworten
djv2 cguthrie922
this would be great if you can combine with stoch/rsi
Antworten
I have been working on one and finished it yesterday. Check it out at:

Antworten
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