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Forex Forum → Technical Indicators → How to implement following indicator?

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Posts: 8

Topic: How to implement following indicator?

Hello,
I would like to open/close my position when in given N days the lowest low was higher than low(n+1 days ago). In other words, I would like to open the position when the lowest bar from (n+1) last days is the bar from day (n+1) ago.
Is there any such indicator in FSB that I could use it?

Re: How to implement following indicator?

I think you should be able to do that with the Donchian Channel. Can you post a chart of what you want to do?

Re: How to implement following indicator?

Hello Spiderman.
See image attached.
http://s23.postimg.org/evgcb7yqf/Untitled.png
The highest high happened 4 bars ago (we haven't broken resistance line for last 3 bars).
In that case I would like to open the position on next bar.

Re: How to implement following indicator?

Assuming you use the next bar opening as your entry you can use the following if you turn on logical groups:-

Opening Point of the position: Bar

Opening Logic Condition1: Donchian Channel. Set Period to 1 and "The bar opens below the Upper Band"
Opening Logic Condition2: Donchian Channel. Set Period to 2 and "The bar opens below the Upper Band"
Opening Logic Condition3: Donchian Channel. Set Period to 3 and "The bar opens below the Upper Band"
Opening Logic Condition4: Donchian Channel. Set Period to 4 and "The bar opens below the Upper Band"

Put all the Opening Logic Conditions in the same group.

I think it will work. Try it.

Re: How to implement following indicator?

Thank you Spiderman for your answer.
However I would like to set n to 50 days. I would like to avoid setting 50 openning conditions there.
Any other idea how we can do that?

Re: How to implement following indicator?

What you want to do is go long if the Highest High for the last 50 periods less than the High 50 periods ago. What time period are we talking about?

Re: How to implement following indicator?

What time period are we talking about?

I was thinking about daily charts. Is it the answer on your question?

Re: How to implement following indicator?

Yes, I was thinking that it might be possible to use the "hourly high low" if you were working on a 1 minute time frame but with a 1 day time frame you would be looking back over a 2 month period.   I don't think there is an easy way to do what you want, maybe footon can modify an an existing indicator for you, he is pretty handy at doing that.

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