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PriceChannel_Stop

This is a discussion on PriceChannel_Stop within the Trading tools forums, part of the Trading Forum category; Originally Posted by agungp Hi Igor, Thanks for this great indicator. Would you mind to share this indicator in histo ...

      
   
  1. #11
    Developer igorad's Avatar
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    Quote Originally Posted by agungp View Post
    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
    PriceChannel_Stop-pricechanstop-histo_9.2-600-.png

    Regards,
    Igor
    Attached Files Attached Files

  2. #12
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    Hi,

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

    Regards,
    Víctor
    Last edited by Victorious; 09-29-2015 at 06:44 AM. Reason: Missing word...

  3. #13
    Administrator newdigital's Avatar
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    Quote Originally Posted by Victorious View Post
    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:

    PriceChannel_Stop-eurusd-h1-alpari-limited.png
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  4. #14
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    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?

  5. #15
    Administrator newdigital's Avatar
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    I think Igorad will reply.
    This is some more explanation about how to trade:

    PriceChannel_Stop-eurusd-h1-alpari-limited-2.png


    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.
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  6. #16
    Developer igorad's Avatar
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    Quote Originally Posted by Victorious View Post
    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.

    PriceChannel_Stop-pcs_theory_1.png

    Regards,
    Igor
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  7. #17
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    @ 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

  8. #18
    Developer igorad's Avatar
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    Quote Originally Posted by Victorious View Post
    @ 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
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  9. #19
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    Quote Originally Posted by igorad View Post
    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

  10. #20
    Developer igorad's Avatar
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    Hi,


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


    PriceChannel_Stop-pricechannel_stop_v9.3-600-.png

    On the screenshot you can see DonchianBreakoutSystem indicator also.


    Regards,
    Igor
    Attached Files Attached Files
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