3 Bar Play - Pattern Scan?

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icbetyper

New member
@Len20

Would you please be able to give a little more details for the variables?
I am trying to fully understand what each one controls. (Maybe marking up a picture of a 3BP)

input trigger_Bar_Low_Min = {default "Official", "Relaxed"}; # Trigger bar low min based on pause bars low (official), or pause bars minimum
input Show_During_Uptrend = no; # Strict pattern not supposed to be in middle of uptrend
input uptrend_Limit_Perc_Inc = 1.0; # Only used if Show_During_Uptrend = no (Still signal if uptrend is below % entered)
input uptrend_LookBack = 10; # Only used if Show_During_Uptrend = no
input prev_High_LookBack = 30; # Ignitor bar must break previous period high
input avg_Vol_LookBack = 10; # for qualifying ignitor bar
input avg_Range_LookBack = 10; # for qualifying ignitor bar
input ignitor_Range_Spike_Perc = 200; # Minimum ignitor range % relative to avg range (200% = 2x avg range)
input ignitor_Vol_Spike_Perc = 100; # Minimum volume % relative to avg volume
input pause_Low_Min_Perc = 45; # Pause bars low min % of ignitor bar range (50% = middle of ingitor bar, lower is looser)
input pause_High_Min_Perc = 80; # Pause bars high min % of ignitor bar range (90% recommended, lower is looser)
input pause_High_max_Perc = 110; # Pause bars high max % of ignitor bar range (110% recommended, higher is looser)

Thank you for your amazing work and answering questions!!!
 
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leo2022

New member
@icbetyper I think your message is for Len20. I think he wrote the script. I am also new to thinkscript 🙂
 
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cay7man

New member
VIP
@Len20, are these 3 separate studies? To get bullish study, should I just take the bullish code? Thx!
 
Joseph Patrick 18

Joseph Patrick 18

New member
Remember there is more to the 3/4 bar play than developing the indicator, as per Jarret Live traders. His concept works most of the time. I played with some coding, i'm no expert, but I tinkered with the basic concept and had trouble with meeting some of the Official criteria such as the 1st "above avg" wide bar not being in the middle of a trend. If you can get this to work with the SwingArms - bingo.

Also Jared uses support and resistance which is important with the 3 and 4 bar play....
 
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cay7man

New member
VIP
Could someone clarify which code I should take from Len20 post (v1.6)? Thank you
 
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Chadnash

New member
VIP
Hi guys... just curious if there were any other additions or latest version of this script. I have also watched the video and looking to help in any way for testing or cleaning up the code.
 
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Chadnash

New member
VIP
Thanks!

Really useful and impressive indicator!

Yes I have been trading with it the last few days and plan to create some updates or feedback for the community after I publish it as a strategy or possibly with further alerts. I did notice a few minor things (which can maybe be adjusted from settings, I need to review further)... on one of the charts today I noticed because the engulfing bar had a high wick it wasn’t triggering it and according to Jared on one of his videos he includes bar 1 with full wick, so maybe something to look at

If it would be helpful and it’s not already posted I can include some screenshots or a short video on how to turn this into either a strategy or a scan... at the moment I have my setup include a couple scans / watchlists and one that is so specific based on unusual volume to send me an alert. One scan for daily bull or bear confirmed , one scan for potential daily bull or bear, and the others are combined for 15 or 5 minute bull or bear.

Chad
 

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