Tweet
I kindly request the following efs study:
1. Study title: Volatility Stop
2. Regular study- Stop and Reverse indicator
3. Detailed description: This is similar if not the same as the Welles Wilder volatility request below. And also similar to the colored atr request I had made priviously that Dave Loomis created at my request.
A reversal systems so that the stops are displayed below in an uptrend and above in a downtrend. ie they flip after being penetrated by one tick. The stop is calculated by taking 3.0 times 7 period atr and adding it to the low or vice versa. (obiviously these inputs should be configurable in the code at least) So for an uptrend you take 3.0 times the 7 period atr and subtract from the highest close of the last 7 bars. (in this case 7 bars)
For down trends you take 3 times the 7 period atr and add it to the lowest close of the last seven bars.
Since the stops are a stop and reverse indicator as soon as the stop is penetrated by one tick it flips. So if the stop above (downtrend) is penetrated by a tick--- then on the next bar the stops show up below the bars.
this study may be very similar to the projected parabolic sar created on this board also
Thank you
corone
I just reviewed the chandalier exit efs and it is very similar as well . In fact all I may be requesting is for the chandelier exit script to be turned into an sar type flip upon a one tick penetration.
1. Study title: Volatility Stop
2. Regular study- Stop and Reverse indicator
3. Detailed description: This is similar if not the same as the Welles Wilder volatility request below. And also similar to the colored atr request I had made priviously that Dave Loomis created at my request.
A reversal systems so that the stops are displayed below in an uptrend and above in a downtrend. ie they flip after being penetrated by one tick. The stop is calculated by taking 3.0 times 7 period atr and adding it to the low or vice versa. (obiviously these inputs should be configurable in the code at least) So for an uptrend you take 3.0 times the 7 period atr and subtract from the highest close of the last 7 bars. (in this case 7 bars)
For down trends you take 3 times the 7 period atr and add it to the lowest close of the last seven bars.
Since the stops are a stop and reverse indicator as soon as the stop is penetrated by one tick it flips. So if the stop above (downtrend) is penetrated by a tick--- then on the next bar the stops show up below the bars.
this study may be very similar to the projected parabolic sar created on this board also
Thank you
corone
I just reviewed the chandalier exit efs and it is very similar as well . In fact all I may be requesting is for the chandelier exit script to be turned into an sar type flip upon a one tick penetration.