PebbleTrader wrote:Jalarupa wanted level stats: (all autogenerated)
Nice work pebble trader!
I checked your chart with a chart done manually and the boxes look spot on.
PebbleTrader wrote:"Nice work pebble trader!
I checked your chart with a chart done manually and the boxes look spot on."
Thanks for the feedback.
I am close to having it autogenerate the breach's.
bredin wrote:PebbleTrader wrote:
Assuming tolerance setting is 1/2p.
So price is making higher boxes and it gets it's first assist (price is 9.5p higher
than the last level)
Then price starts heading lower.
Price hits and crosses the -10p level and then comes within -9.5p level.
A double assist occurs and price than continues making higher and higher boxes.
The result would be 19p is only required to reverse.
First thought is that this would be pretty rare give most circumstances.
Second thought is that 19p is WORST CASE and most times it would be >19p.
Third thought is that you could code it in such a way that "double assists" are not allowed. So the first assist would count, but the second assist would not count for reversals.
done. continuation and reversal tolerances are now independently configurable. They may also be negative.
more interesting has been doing the x1 charts
since no box can be drawn on its own this was a bit of a challenge. single reverse boxes are folded into the next bar. It is unfortunate that MT4 wont let us independently color bars (or parts of bars), but its pretty obvious that when there is two same colored bars next to each other there has been a step back.