High and Low Reversals Indicator + Day Trading Strategy

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Steve2286

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Ben Do you have this for a watchlist column? Want to use it on 3min TF. And thanks for this site - lots of helpful information - -- great job!


 
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BenTen

BenTen

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@Steve2286 Hey, welcome :). I don't have a watchlist column for this yet. Will look into making one if possible.

 
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J

john3

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Ben,

I have been watching this indicator during RTH and it seems that it does not just use RTH's High/Low as a trigger. Would you please explain in plain English what criteria is used for a trigger? I've looked at the code but couldn't figure it out. It would help a lot if it would plot previous signals (not just the current one).

Appreciate your help!

 
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BenTen

BenTen

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@john3 This is a known issue with this indicator, not that it causes any problems for me but the fact that it repaints (sometimes it doesn't) kind of confuses new users.



The logic for generating and repainting the signals:

>
  • - The indicator finds the highest candle for the trading session and then takes the low (sell)

    >
  • - It finds the lowest candle of the trading session and takes the high of that candle (buy)

    >
  • - Whenever price crosses either condition then it generates a signal
Hope that helps to clear things up. And at this point, there is no way to make it show all the old signals.

 
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john3

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@BenTen Thank you, makes sense now.

 
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mc01439

mc01439

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How would (HLRI) be coded to use Globex hours instead of RTH?

 
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BenTen

BenTen

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@mc01439 Do you mean using the indicator with pre-market data on or off?

 
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mc01439

mc01439

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@BenTen

Yes, I trade mostly CL and would like the indicator to work from Asia open.

 
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mc01439

mc01439

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Am often late when using RTH with high volume futures.

 
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mc01439

mc01439

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input RangeStart = {default Globex, RTH};

def First; switch (RangeStart) {case Globex: First = if GetTime() >= RegularTradingEnd(GetYYYYMMDD()) then 1 else 0; case RTH: First = if GetTime() >= RegularTradingStart(GetYYYYMMDD()) then 1 else 0;}

Tried this but I do not get down signals and the lines do not look correct?

This one did not work at all.

#def First; switch (RangeStart) {case Globex: First = if GetTime() >= RegularTradingEnd(GetYYYYMMDD()) and getTime() <= RegularTradingEnd(getYYYYMMDD()) then 1 else 0; case RTH: First = if GetTime() >= RegularTradingStart(GetYYYYMMDD()) and getTime() <= RegularTradingEnd(getYYYYMMDD()) then 1 else 0;}

 
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mc01439

mc01439

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This one did not work at all.

#def First; switch (RangeStart) {case Globex: First = if GetTime() >= RegularTradingEnd(GetYYYYMMDD()) and getTime() <= RegularTradingEnd(getYYYYMMDD()) then 1 else 0; case RTH: First = if GetTime() >= RegularTradingStart(GetYYYYMMDD()) and getTime() <= RegularTradingEnd(getYYYYMMDD()) then 1 else 0;}

 
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J

john3

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@mc01439 I also would like to know that, but I would assume the same way only using Globex's range.

 
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mc01439

mc01439

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This with

def First; switch (RangeStart) {case Globex: First = if GetTime() >= RegularTradingEnd(GetYYYYMMDD()) then 1 else 0; case RTH: First = if GetTime() >= RegularTradingStart(GetYYYYMMDD()) then 1 else 0;}

The Globex lines (mark with red circle) do not look correct?

 
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J

john3

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@mc01439 What is the study that plots those red/green horizontal levels? Would you please share it?

 
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mc01439

mc01439

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Can be found here - it is "Support Resistance by Mobius".

 
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BenTen

BenTen

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@mc01439 Your link led to a Microsoft login page. I went ahead and posted the direct code below for @john3



Rich (BB code):
# Mobius
# Mobius on My Trade
# Support / Resistance           
# V01.06.2012 V02.08.2013
# Added lower bar for clouds, Volume condition for plot and Vertical line for time.

input n = 13;
input ShowLines = yes;
input PlotTime = 1215; #hint PlotTime: Enter Bars End to plot Bars Start 0 for none.

def h = high;
def l = low;
def v = volume;
def Firstbar = barNumber();
def Highest = fold i = 1 to n + 1 
with p = 1
while p 
do h > getValue(h,-i);

def HVn = if V == Highest(v, n) 
then l 
else Double.NaN;

def A = if (Firstbar > n 
and h == highest(h, n) 
and Highest) 
and HVn
then h 
else double.NaN;
def Alow = if (Firstbar > n
and h == highest(h, n)
and Highest)
and HVn
then l
else double.nan;
def Lowest = fold j = 1 to n + 1 
with q = 1
while q 
do l < getValue(l, -j);
def B = if (Firstbar > n 
and l == lowest(l, n) 
and Lowest)
and HVn 
then l 
else double.NaN;
def Bhigh = if (Firstbar > n
and l == lowest(l, n)
and Lowest)
and HVn
then h
else double.nan;
def Al = if !isNaN(A) 
then A 
else Al[1];
def A2 = if !isNaN(Alow)
then Alow
else A2[1];
def Bl = if !isNaN(B) 
then B 
else Bl[1];
def B2 = if !isNaN(Bhigh)
then Bhigh
else B2[1];

plot ph = Round(A, 2);
ph.setPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

plot hL = if Al > 0
then Al
else double.NaN;
hL.setHiding(!showLines);
hL.SetPaintingStrategy(PaintingStrategy.Dashes);
hL.SetDefaultColor(Color.Yellow);
plot hL2 = if A2 > 0
then A2
else double.nan;
hL2.setHiding(!showLines);
hL2.SetPaintingStrategy(PaintingStrategy.Dashes);
hL2.SetDefaultColor(Color.Yellow);
AddCloud(hL, hL2, Color.Light_Red, Color.Light_Red);

plot pl = Round(B, 2);
pl.setPaintingStrategy(PaintingStrategy.VALUES_BELOW);

plot ll = if Bl > 0 
then Bl 
else double.NaN;
ll.setHiding(!showLines);
ll.SetPaintingStrategy(PaintingStrategy.Dashes);
ll.SetDefaultColor(Color.Blue);
plot lH = if B2 > 0
then B2
else Double.NaN;
lH.setHiding(!showLines);
lH.SetPaintingStrategy(PaintingStrategy.Dashes);
lH.SetDefaultColor(Color.Blue);
AddCloud(ll, lH, Color.Light_Green, Color.Light_Green);

# Time Markers
AddVerticalLine(SecondsTillTime(PlotTime) == 0, "", Color.Red, Curve.Short_Dash);

plot priceLine = highestAll(if isNaN(close[-1]) 
and !isNAN(close) 
then close 
else Double.NaN);
priceLine.SetStyle(Curve.Long_Dash);
priceLine.SetDefaultColor(CreateColor(75,75,75));
priceLine.SetLineWeight(1);
# End Code
 
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mc01439

mc01439

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Found the answer on TOS chat - #5/2/2019 mbh - Changed for Asia and Europe use.



def active = secondsfromtime(1800) >= 0 or secondstilltime(400)>=0;

 
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J

john3

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@mc01439 Awesome, thank you very much!

 
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J

john3

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@BenTen Would you please elaborate a little in plain English on how the Mobius' support/resistance works? What does it use to figure out the levels? Thank you.

 
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mc01439

mc01439

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@john3 - I USE TO REPLACE FRACALS AS SUPPORT/RESISTANCE ZONES FOR A CLEANER CHART. YOU CAN ADJUST THE SENSITIVITY BY CHANGING input n = 8; #13. I USE 8 DEFAULT IS 13. YOU CHANGE TO FIT INSTRUMENT, STYLE AND CONDITIONS IF YOU WISH, I KEEP AT 8 FOR ALL CHARTS AND INSTRUMENTS.

THERE ARE A NUMBER OF WAYS IT CAN BE USED – UP TO THE TRADER.

IT IS BASICLY LOOKING FOR HIGHS AND LOWS WERE THERE MAY BE SUPPORT AND RESISTANCE. PLAY WITH INPUT N AND THAT WILL GIVE YOU A GOOD IDEA OF HOW IT WORKS.

 
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