PriceChannel_Stop

Originally Posted by agungp

Hi Igor,

Thanks for this great indicator.
Would you mind to share this indicator in histo version?
I think it would make the chart look more simple.

Regards,
Agung

Hi agungp,

Please check out the PriceChannel_Stop indicator in the histo version.

Code:

//---- input parameters
extern int     TimeFrame            =     0;    //TimeFrame in min
extern int     UpBandPrice          =     2;    //Upper Band Price(ex.2 for High)     
extern int     LoBandPrice          =     3;    //Lower Band Price(ex.3 for Low) 
extern int     ChannelPeriod        =     9;    //Channel Period (eg.9)
extern double  Risk                 =     0;    //Channel Narrowing Factor(0..0.5)   
extern double  Ratchet              =   0.0;    //Ratchet(-1-off,>= 0-on) 
extern double  IndicatorValue       =     1;    //Indicator Value (ex.1.0)
 
extern string  alerts               = "--- Alerts & Emails ---";
extern int     AlertMode            =     0;
extern int     AlertShift           =     1;    //Alert Shift:0-current bar,1-previous bar
extern int     SoundsNumber         =     5;    //Number of sounds after Signal
extern int     SoundsPause          =     5;    //Pause in sec between sounds 
extern string  UpSound              = "alert.wav";
extern string  DnSound              = "alert2.wav";
extern int     EmailMode            =     0;    //0-on,1-off   
extern int     EmailsNumber         =     1;    //0-on,1-off

Attachment 13387

Regards,
Igor

Hi,

Could you please explain to me the logic behind this "PriceChannel_Stop" indicator?

Regards,
Víctor

Originally Posted by Victorious

Hi,

Could please explain to me the logic behind this "PriceChannel_Stop" indicator?

Regards,
Víctor

Programming logic or trading logic?
If programming logic so ask Igorad as I am not a coder.
For trading logic - look at the image below:

Thank you for the above example!... But I'm talking about the calculations for printing the indicator signals and colored candles, on what else are they based?

Igorad, could you please enlighten us?

I think Igorad will reply.
This is some more explanation about how to trade:

Means - this is signal indicator similar with Brainwashing/BrainTrading system: we need to filter false entry because indicator is making the entry points in the beginning of the trend established.

Originally Posted by Victorious

Hi,

Could you please explain to me the logic behind this "PriceChannel_Stop" indicator?

Regards,
Víctor

Hi Victor,

The PriceChannel_Stop indicator is based on the Price(or Donchian) Channel breakout. Also it's important to know the uptrend stop can be the same as on the previous bar or moves up and vice versa for the downtrend stop.

Attachment 16106

Regards,
Igor

@ Newdigital and Igorad,

Thanks a lot for helping me out :-)
I have another doubt: why there are some colored candles apart from the others, what do they represent?

Regards,
Víctor

Originally Posted by Victorious

@ Newdigital and Igorad,

Thanks a lot for helping me out :-)
I have another doubt: why there are some colored candles apart from the others, what do they represent?

Regards,
Víctor

Hi Victor,

There are 2 kinds of bars: colored and non-colored. The colored bar means the strong trend on the market. And the non-colored bar means that the market is in retrace situation during up/down trend.

Regards,
Igor

Originally Posted by igorad

Hi Victor,

There are 2 kinds of bars: colored and non-colored. The colored bar means the strong trend on the market. And the non-colored bar means that the market is in retrace situation during up/down trend.

Regards,
Igor

Thank you very much for your quick support, Igor :-)

Finally, could you please also help me with the following doubt?:
http://newdigital-world.com/automate...html#post30613

Regards,
Víctor

Hi,


Please check out the updated PriceChannel_Stop indicator with new set of prices.


Attachment 24073

On the screenshot you can see DonchianBreakoutSystem indicator also.


Regards,
Igor