2017 Nov: Swing Trading Four-Day Breakouts by Ken Calhoun

[eSignal]

File Name: 4Day_Breakouts.efs

Description:
Swing Trading Four-Day Breakouts by Ken Calhoun

Formula Parameters:

4Day_Breakouts.efs

Trigger: 0.5
Initial Stop: 2

Notes:
The related article is copyrighted material. If you are not a subscriber
of Stocks & Commodities, please visit www.traders.com.

Download File:
4Day_Breakouts.efs

4Day_Breakouts.efs


EFS Code:

/*********************************
Provided By:  
eSignal (Copyright c eSignal), a division of Interactive Data
Corporation. 2016. All rights reserved. This sample eSignal
Formula Script (EFS) is for educational purposes only and may be
modified and saved under a new file name.  eSignal is not responsible
for the functionality once modified.  eSignal reserves the right
to modify and overwrite this EFS file with each new release.

Description:        
    Swing Trading Four-Day Breakouts by Ken Calhoun

Version:            1.00  09/12/2017

Formula Parameters:                     Default:
Trigger                                 0.5
Initial Stop                            2



Notes:
The related article is copyrighted material. If you are not a subscriber
of Stocks & Commodities, please visit www.traders.com.

**********************************/

var fpArray = new Array();

function preMain(){
    setPriceStudy(true);
    setShowCursorLabel(false);
    setDefaultBarFgColor(Color.black);

    var x = 0;
    fpArray[x] = new FunctionParameter("Trigger", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(0.000001);
        setDefault(0.5);
        setName("Trigger");
    }
    fpArray[x] = new FunctionParameter("InitStop", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(0.000001);        
        setDefault(2);
        setName("Initial Stop");
    }
}

var bInit = false;
var bVersion = null;
var xHigh = null;
var xLow = null;
var xOpen = null;
var xClose = null;

var bSeqFound = false;
var bIsLong = false;
var vStopPrice = null;
var vHighestHigh = null;
var nEntryPrice = null;

var nRedBarCount = 1;
var sReturnVal = " ";

function main(Trigger, InitStop){
    if (bVersion == null) bVersion = verify();
    if (bVersion == false) return;

    if (getBarState() == BARSTATE_ALLBARS){

        bInit = false;
    }

    if (!bInit){
        nRedBarCount = 1;
        bSeqFound = false;
        bIsLong = false;
        vStopPrice = null;
        vHighestHigh = null;
        nEntryPrice = null;
        sReturnVal = " ";
        xLow = low();
        xHigh = high();
        xOpen = open();
        xClose = close();
        bInit = true;
    }

    var nHigh = xHigh.getValue(0);
    var nLow = xLow.getValue(0);

    if (getBarState() == BARSTATE_NEWBAR){

        if ( xClose.getValue(-1) < xOpen.getValue(-1) )
            nRedBarCount++;

        if (xClose.getValue(-1) > xOpen.getValue(-1) &&
            xClose.getValue(-2) > xOpen.getValue(-2) &&
            xClose.getValue(-3) > xOpen.getValue(-3) &&
            xClose.getValue(-4) > xOpen.getValue(-4) &&

            xHigh.getValue(-1) > xHigh.getValue(-2) &&
            xHigh.getValue(-2) > xHigh.getValue(-3) &&
            xHigh.getValue(-3) > xHigh.getValue(-4) &&

            nRedBarCount > 0){
                var cBoxColor = Color.green;

                if (!bIsLong){

                    bSeqFound = true;
                    nEntryPrice = xHigh.getValue(-1);

                    drawTextRelative(0, BottomRow1, "Suggested Long Entry at " + formatPriceNumber(nEntryPrice + Trigger), Color.green, null,
                                        Text.PRESET|Text.LEFT|Text.BOLD, "Arial", 8, "Entry text"+rawtime(0));

                    sReturnVal = "Suggested Long at " + formatPriceNumber(nEntryPrice + Trigger);
                }
                else cBoxColor = Color.RGB(101,209,112);

                nRedBarCount = 0;
                var nLowest = llv(4, xLow).getValue(-1);
                var nHighest = xHigh.getValue(-1);
                drawLineRelative(-4, nHighest, -1, nHighest, PS_DOT, 2, cBoxColor, "lineH"+rawtime(0));
                drawLineRelative(-4, nLowest, -1, nLowest, PS_DOT, 2, cBoxColor, "lineL"+rawtime(0));
                drawLineRelative(-4, nHighest, -4, nLowest, PS_DOT, 2,cBoxColor, "line1V"+rawtime(0));
                drawLineRelative(-1, nHighest, -1, nLowest, PS_DOT, 2, cBoxColor, "line2V"+rawtime(0));
            }
    }

     if (bIsLong){
        if (nHigh > vHighestHigh && (nLow - InitStop) > vStopPrice) {
            vStopPrice = (nLow - InitStop);
            vHighestHigh = nHigh
        }
        else if (nLow <= vStopPrice){
            drawTextRelative(0, AboveBar1, "\u00EA", Color.red, null, Text.PRESET|Text.CENTER, "Wingdings", 10, "Exit"+rawtime(0));
            drawTextRelative(0, TopRow1, "Suggested Long Exit at "+formatPriceNumber(vStopPrice), Color.red, null,
                            Text.PRESET|Text.LEFT|Text.BOLD, "Arial", 8, "Exit text"+rawtime(0));
            bIsLong = false;
            bSeqFound = false;
            nRedBarCount = 1;
            sReturnVal = " ";
        }
    }

    if (bSeqFound && !bIsLong && nHigh >= nEntryPrice + Trigger){
        drawTextRelative(0, BelowBar1, "\u00E9", Color.green, null, Text.PRESET|Text.CENTER, "Wingdings", 10, "Entry"+rawtime(0));

        bSeqFound = false;
        bIsLong = true;
        vStopPrice = (nLow - InitStop);
        vHighestHigh = nHigh;
        sReturnVal = " ";
    }

    if (isWatchList()){
        if (sReturnVal != " ") setBarBgColor(Color.RGB(157,255,162));

        return sReturnVal;
    }

}



function verify(){
    var b = false;
    if (getBuildNumber() < 779){

        drawTextAbsolute(5, 35, "This study requires version 10.6 or later.",
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "error");
        drawTextAbsolute(5, 20, "Click HERE to upgrade.@URL=http://www.esignal.com/download/default.asp",
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "upgrade");
        return b;
    }
    else
        b = true;

    return b;
}