Lateral Formation


Lateral Formation is a price pattern where
bar 2 and bar 3 are within the HL of the 1st bar.

The Lateral will continue until 2 consecutive closes outside of the
1st bar HL in the same direction.

for background discussions, please visit:
http://www.traderslaboratory.com/for...ship-6320.html





note:
This EasyLanguage indicator was written in MultiCharts.
I have not tested it in tradestation or other compatible programs.
Please refer to your users manual for importation instructions.

[ajax358]

Tams....FYI.....just finished day of trading...the new Lateral Formation'3' worked great!!!!....no hiccups & put lines on chart just like yours, & there was no lines 'all way back thru charts' as before.
So, this fix of yours worked for the "tick" charts. As you said, the indicator was made for "minute" charts....I checked minute charts with both LatFormation 2 & 3.....both were same & fine on minute charts. So, all is good & backtested & works on TradeSatation just fine for "#3" version.

I can't post charts, as the charts are on my other puter....& don't know how to post them as well.... not geeky enuff....but can backtest well....

Thx mucho.......ajax358....

[Boux]

Hi
Love your indicators---I'm trying to set-up Multicharts for Hershey trading. Can I color bars by close or do I need an indicator? what about volume?
You seem to be well versed in PricePhysics as well---which do do trade the most?
I've recently been looking at Bill's stuff again.

Thanks
Allen

[Tams]

Originally Posted by Boux »

Hi
Love your indicators---I'm trying to set-up Multicharts for Hershey trading. Can I color bars by close or do I need an indicator?

don't understand what you mean.

Originally Posted by Boux »

what about volume?

what about it?

Originally Posted by Boux »

You seem to be well versed in PricePhysics as well---which do do trade the most?
I've recently been looking at Bill's stuff again.

Thanks
Allen

all systems/methods/indicators lead to the same thing...

[Boux]

[QUOTE=Tams;127542]don't understand what you mean.


what about it?



Sorry---wasn't clear.

Do I need an indicator to color a price bar based on it's Close--ex. Green bar for a close higher than the previous, Red bar for a close that is lower

and Green volume bar for an Up close, Red bar for a Down close

or does Multicharts do this and I'm just missing what's right in front of me???

Thanks

[Tams]

[quote=Boux;127550]

Originally Posted by Tams »

don't understand what you mean.


what about it?



Sorry---wasn't clear.

Do I need an indicator to color a price bar based on it's Close--ex. Green bar for a close higher than the previous, Red bar for a close that is lower

and Green volume bar for an Up close, Red bar for a Down close

or does Multicharts do this and I'm just missing what's right in front of me???

Thanks

anything that requires a logic, is performed by an indicator.

if you have just bought MultiCharts, I would suggest you to get the ebook
Getting Started with EasyLanguage
this is the book you need if you're thinking about using EasyLanguage but don't know where to start.