Inside Bar Indicator?

[TSEDS 10]

Hello The Henk,

 

I’m part of the Client Training and Education department for TradeStation. According to your posts, it appears that what you are really after is an indicator designed for RadarScreen that can show you when Inside Bars and CCCs take place on a daily chart real-time on a daily basis. You also seem to be content with your chart indicator, therefore no chart indicator is included in this response. The code below is for an indicator that identifies Inside Bars, counts how many Inside Bars occurred consecutively, identifies CCCs, and counts how many occurred consecutively. I understand that you intend for the indicator to be applied to 20 or so FX pairs, however if you apply the indicator to a larger amount of securities (i.e. the components of the S&P 500 index), you may want to sort the results. To do so, simply right-click in the RadarScreen window, select “Format Page”, then select the “Sort” tab and select to sort first by IB Status and then by CCC Status. You can also specify to automatically keep the data sorted by a certain amount of seconds in the same window. Both fields have color coded backgrounds in RadarScreen for visual help.

 

// RadarScreen Indicator Code to identify Inside Bars and CCCs

 

// Inputs Declaration

Inputs: IBColor ( Red ),

CCCColor ( Blue );

 

// Variables Declaration

Vars: ibcondition ( false ),

ibstatus ( "" ),

ibcounter ( 0 ),

inside ( false ),

ccccondition ( false ),

cccstatus ( "" ),

ccccounter ( 0 ),

cccdisplay ( "" );

 

// Inside Bar (IB) Condition

ibcondition = high[1] > High and low[1] < low;

 

// Congestion, Convergence, Centering (CCC) Condition

inside = High <= high[1] and low >= low[1];

ccccondition = inside and inside[1];

 

// Check for IBs and CCCs

If ibcondition then

begin

ibstatus = "Inside Bar";

ibcounter = ibcounter + 1;

SetPlotBGColor(1, IBColor);

end

else

begin

ibstatus = "";

ibcounter = 0;

end;

 

If ccccondition then

begin

cccstatus = "CCC";

ccccounter = ccccounter + 1;

SetPlotBGColor(2, CCCColor);

end

else

begin

cccstatus = "";

ccccounter = 0;

end;

 

// Display Results in RadarScreen

if ccccounter >= 1 then

cccdisplay =( NumToStr(ccccounter, 0) + Spaces(2) + cccstatus )

Else

cccdisplay = "0 CCC";

 

If ibcounter >= 1 then begin

Plot1( NumToStr(ibcounter, 0) + Spaces(2) + ibstatus, "IB Status" );

Plot2( cccdisplay, "CCC Status" );

End

Else begin

NoPlot(1);

NoPlot(2);

end;

Edited February 22, 2010 by Soultrader
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[daedalus 10]

^^^ Very cool to help like that. Thanks for sharing!

[The Henk 10]

Thank you SO much!

 

Ill look into this as soon as im back at the office tomorrow morning!!!