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Consecutive Signals

zackgray88

New member
Hi all! I've lurked for quite awhile and have gleaned a lot of useful information a bits of code here and there to build different indicators. I'm a little stuck on trying to finish the one below.

Purpose of Study: Looks at the average daily ATR and divides it by a user input to define what a tight intraday range is for a given stock. This maps out areas of tight consolidations where price may move aggressively away from (load this indicator on $PFE with a 3 minute chart for the past few days). That part of the indicator is working fine for my needs.

Problem: I'm really only interested when I get 5 or more bars consecutive signals in a row (i.e. one bar with a tight range in the midst of a bunch of volatility isn't what I'm looking for). Is there anyway to get this to only plot a signal when there are consecutive number of true signals? I took a stab at the bottom of the code that I just have blanked out.

Any help would be super appreciated!

Code:
input aggPeriod = AggregationPeriod.DAY;

input length = 20;

input multiplier = 2;

input barperiod = aggregationperiod.three_min;

input atrrange = 40;

def studyPrice = close(period = aggPeriod);

def hi = high(period = aggPeriod);

def lo = low(period = aggPeriod);

def r = hi - lo;

def avgRange = Average(r, length);

def avg = Average(studyPrice, length);

def range = high(period = barperiod) - low(period = barperiod);

def avgbodyLength = ((high(period = barperiod)[1] - low(period = barperiod)[1]) + (High(period = barperiod)[2] - low(period = barperiod)[2]) + (High(period = barperiod)[3] - low(period = barperiod)[3]) + (High(period = barperiod)[4] - low(period = barperiod)[4]) + (High(period = barperiod)[5] - low(period = barperiod)[5]) + (High(period = barperiod)[6] - low(period = barperiod)[6]) + (High(period = barperiod)[7] - low(period = barperiod)[7]) + (High(period = barperiod)[8] - low(period = barperiod)[8])+ (High(period = barperiod)[9] - low(period = barperiod)[9]) + (High(period = barperiod)[10] - low(period = barperiod)[10]) + (High(period = barperiod)[11] - low(period = barperiod)[11]) + (High(period = barperiod)[12] - low(period = barperiod)[12]) + (High(period = barperiod)[13] - low(period = barperiod)[13]) + (High(period = barperiod)[14] - low(period = barperiod)[14]) + (High(period = barperiod)[15] - low(period = barperiod)[15]) + (High(period = barperiod)[16] - low(period = barperiod)[16]) + (High(period = barperiod)[17] - low(period = barperiod)[17]) + (High(period = barperiod)[18] - low(period = barperiod)[18]) + (High(period = barperiod)[19] - low(period = barperiod)[19])+ (High(period = barperiod)[20] - low(period = barperiod)[20])+ (High(period = barperiod)[21] - low(period = barperiod)[21])+ (High(period = barperiod)[22] - low(period = barperiod)[22])+ (High(period = barperiod)[23] - low(period = barperiod)[23])+ (High(period = barperiod)[24] - low(period = barperiod)[24])+ (High(period = barperiod)[25] - low(period = barperiod)[25])+ (High(period = barperiod)[26] - low(period = barperiod)[26])+ (High(period = barperiod)[27] - low(period = barperiod)[27])+ (High(period = barperiod)[28] - low(period = barperiod)[28])+ (High(period = barperiod)[29] - low(period = barperiod)[29])+ (High(period = barperiod)[30] - low(period = barperiod)[30]))/length;

def intradayatr = avgrange/atrrange;

def nan = Double.NaN;

plot tightrange = range< intradayatr;
tightrange.setpaintingstrategy(paintingstrategy.booleAN_POINTS);

#def consecutive = if tightrange then tightrange[1] + 1 else 0;

#plot consecutivebars = consecutive > 5;
 
You can set up a T/F series with 1 and 0 (this is one of my favourite tricks these days) like this:
Code:
def tight_range_tf = if tightrange then 1 else 0;
then you can do a sum over the length you want to find consecutive true signals and plot it if it is true:
Code:
input consecutive_length = 5;
plot consecutive_true = if sum(tight_range_tf, consecutive_length) == consecutive_length then 1 else double.nan;
consecutive_true.SetPaintingStrategy(PaintingStrategy.BooleanArrowUp;

Perhaps that gets you going in the right direction.

-mashume

N.B. I didn't check my syntax on the painting strategy. I can't remember what the correct notation for a boolean arrow up is off the top of my head.

EDIT: I think I had the sum function called incorrectly. It should be fixed now.
 
Last edited:

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