Great Idea for EFS!!!

[realm1]

Bare with my poor english skills. Here is my idea and should'nt be to hard , I am just not good at creating EFS's only editing them.I previously was wanting esignal to input a waist on top of candlesticks. But, at this time that is not possible, so I came up with a better idea. He is the theory:

I have a buysell.efs shown in the picture below, with the buy/sell signals. This efs triggers are plotted based on a moving average.

What I would like to have is this:

1. A buy signal based on the candle stick waist, when the current candlestick closes with the WAIST ABOVE the previous candlestick a buy signal would be generated.

2. A sell signal would follow the exact opposite of the above. When the current candlestick closes with the waist below the previous candlestick a sell signal would be generated.

Note: the code would have to include an ignore function for repeats of paragraph #1 until paragraph #2 came into play.

I have include the buysell.efs and the code for creating a candlestick waist in this post. The candlesticks waste shows up on charts as little lines (barely seen) on the side of candlesticks. I would recommend that the waist need not be seen in this new efs. (distracting!)

Candlestick waist is plotted based on: (open()+close())/2;

I beleive this would be a great tool for those who rely on candlestick charting and also the Murrey Math theory.

I could not upload more than one file and I have 3 to make it easier for coding this idea. So i will post 2 more message with thso files. Sorry I know no other way!

Thanks,

Realm

[realm1]

buysell.efs

[realm1]

candlewaist.efs

[ACM]

Realm
The attached efs should do what you asked.
FYI the Buy/Sell code has been changed from the one in the efs you posted. In that one the trade is entered on the Open of the bar that generates the signal. This is unrealistic and has been modified to enter the trade on the Close of the bar that generates the signal.
Alex

[realm1]

When you said "unrealistic" were you refering to the previous buysell efs?

Thank you so much... You rock!!!!!


Realm

[realm1]

I was checking out the efs you did for me and something is seriously wrong with it. I honestly cannot figure out what it is plotting! It looks like it may be plotting gaps only or the open or close? Just a reminder to clerify: (just incase I was'nt clear) THIS IS PLOTTED ON THE WAIST OF THE OPEN AND CLOSE.

if the previous closed candle (open + close /2)= (waist)

is lower than

current closed candle (open + close /2)= waist

this generates a buy signal until you get the opposite reaction.

I included a chart just to point out a FEW points where is did not work.

I put red green dots where it should of worked. ( I just picked out the obvious ones)

Thanks,

Dan

[ACM]

realm1

When you said "unrealistic" were you refering to the previous buysell efs?

Yes that is what I was referring to.

I was checking out the efs you did for me and something is seriously wrong with it.

FYI it simply follows the conditions you set in your first message (see following quote)

1. A buy signal based on the candle stick waist, when the current candlestick closes with the WAIST ABOVE the previous candlestick a buy signal would be generated.
2. A sell signal would follow the exact opposite of the above.

These mean "buy when the waist closes above the high of the previous bar and sell when the waist closes below the low of the previous bar" which is what that efs does.
You have now set the conditions differently - which is fine - but for future reference you need to ensure you have worded your conditions precisely.

To change the efs to the revised conditions just add a variable called vWaist1 = (open(-1)+close(-1))/2 and then substitute that variable to the high() and low() used in the conditions.
That will set the system to Buy when the current waist is above the prior waist or Sell when the current waist is below the prior waist.

Alex

[jazzallnite]

Display Waist

Alex, is it possible to mark the waist on each candle?
Dave....

[ACM]

Dave
Yes it is possible.
First comment out the line towards the beginning of the formula that says
setShowCursorLabel(false);
(you comment out a line by preceding it with a // )
The at the end of the formula substitute the line that says
return null;
with
return vWaist;
Note however that lines cannot be plotted on top of candles.
Alex

[realm1]

I apologize you are right. I was thinking so hard about it I left out the most important part. (dah) Anyways, I was trying to fix what you told me and I cannot get it to work. If you could do that and just rename the efs It would be greatly appreciated! In the mean time I am going to get more info on how to build and modify these EFS's so I quit bugging you guys all the time.

Thanks again,

[realm1]

Oh yeah one more thing... If you have any suggestions on what and where to read the best info relating to building EFS's, fell free to let me know.


Thanks,

Realm

[ACM]

realm1
Attached is the revised efs.
Alex

[realm1]

Thanks again Alex !!!! Note for anyone else that downloads these candle sticks. In my opinion (trading style). The best use of these tool are using the candlewaist.efs for shorter time frames (1,5,13,30). And use the candlewaist(2)efs for longer time frames (60,120,D,W,M). If you test them you will see what I am refering too. Remember this is just a helper tool for candlestick waists. For those who use this as part of there theory.

Thanks,

Realm

[realm1]

Ignore feature?

I was wondering if an ignore buy signal feature could be added to this efs. (candlewaist-buysell.efs)?

This theory is: if the candle closes below the open the buy signal would be ignored. And vise versa for the sell signal?

Thanks,

Realm

[ACM]

realm1
That is easily done.
For example in candlewaist-buysell(2).efs in Line 23 instead of
if (vWaist>vWaist1&&Strategy.isLong()==false){
you would write
if (vWaist>vWaist1&&close()>open()&&Strategy.isLong() ==false){
The opposite in Line 28 where close()<open() would be added to the condition.
Alex