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would you mind sharing your code for the indicator at all? |
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but of course. this is a constant work in process. you need a rule in the code to indicate whether the computed reversal price is off the lowest low or highest high -- you can see I set this to be where the midpoint of the last bar is relative to the range of the last 6 bars. if anyone can think of a better way to do this, I am all ears.
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Vars: LowestLow(0), HighestHigh(0);
If CurrentBar > 1 Then Begin
LowestLow = Lowest (low, 5);
HighestHigh = Highest (High, 5);
value10=highest(h,6);
value11=lowest(l,6);
value12=(value10+value11)/2;
value13=(H+L)/2;
If value13>value12 then begin
value1=highesthigh-(AvgTrueRange(5)[1] * 1.5);
plot1(value1,"SAR Value");
end;
If value13<value12 then begin
value2=LowestLow + (AvgTrueRange(5)[1] * 1.5);
plot1(value2,"SAR Value");
end;
End;
If value13>value12 then
setplotcolor(1,white)
else
setplotcolor(1,cyan);
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clearly, you cannot use this indicator by itself -- you must incorporate many other factors -- ie, higher timeframe pattern,
vwap etc.. whatever you use... but this indicator gives a price as an idea for an entry that you can take or leave.