Peak and Valley indicator

[Brazilianpillar]

Can someone please help me write a code for a column that will change background color when the ShortReversalRange or Long ReversalRange is true?

# +--------------------------------------------------+
# |   Example showing how to hide a plot when the    |
# | most recent close is not within a certain range. |
# |                   robert payne                   |
# |              [rrpayne.blogspot.com]              |
# +--------------------------------------------------+

# | define a peak and plot it
input magnitude = 5;

def peak = high > Highest(high[1], magnitude) and high >= Highest(high[-magnitude], magnitude);
def peakValue = if peak then high else peakValue[1];
plot peakLine = peakValue;
     peakLine.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
     peakLine.SetDefaultColor(Color.green);

# | get the bar numbers for the most recent close
# | and the most recent peak
def lastBar = HighestAll(if IsNaN(close) then 0 else BarNumber());
def peakBar = if peak then BarNumber() else Double.NaN;

# | find the values of the most recent peak and the one before it
def lastPeakValue = GetValue(high, BarNumber() - HighestAll(peakBar));
def prevPeakValue = GetValue(peakValue[1], BarNumber() - HighestAll(peakBar));

# | find the value of the most recent close
def mostRecentClose = HighestAll(if BarNumber() == lastBar then close else 0);

# | define what is considered to be "in range" of the previous peak
input percent = 0.5;

def inRange = mostRecentClose > (prevPeakValue * (1 - percent / 100)) and mostRecentClose < (prevPeakValue * (1 + percent / 100));

# | extend the most recent peak
plot lastPeakExtension = if BarNumber() >= HighestAll(peakBar) then lastPeakValue else Double.NaN;
     lastPeakExtension.SetDefaultColor(Color.light_green);
# | extend the previous peak only if the most recent close value is "in range"
plot prevPeakExtension = if BarNumber() >= HighestAll(peakBar) - 1 then prevPeakValue else Double.NaN;
     prevPeakExtension.SetDefaultColor(Color.Dark_Orange);
     prevPeakExtension.SetHiding(!inRange);

# | define a valley and plot it


def valley = low < lowest(low[1], magnitude) and low <= lowest(low[-magnitude], magnitude);
def valleyValue = if valley then low else valleyValue[1];
plot valleyLine = valleyValue;
     valleyLine.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
     valleyLine.SetDefaultColor(Color.red);

# | get the bar numbers for the most recent close
# | and the most recent valley

def valleyBar = if valley then BarNumber() else Double.NaN;

# | find the values of the most recent peak and the one before it
def lastvalleyValue = GetValue(low, BarNumber() - lowestAll(valleyBar));
def prevvalleyValue = GetValue(valleyValue[1], BarNumber() - lowestAll(valleyBar));




# | define what is considered to be "in range" of the previous peak


def inRange2 = mostRecentClose < (prevValleyValue * (1 - percent / 100)) and mostRecentClose > (prevValleyValue * (1 + percent / 100));

# | extend the most recent peak
plot lastValleyExtension =  if BarNumber() <= lowestAll(valleyBar) then lastvalleyValue else Double.NaN;
     lastValleyExtension.SetDefaultColor(Color.plum);
# | extend the previous peak only if the most recent close value is "in range"
plot prevValleyExtension = if BarNumber() >= lowestAll(ValleyBar) - 1 then prevValleyValue else Double.NaN;
     prevValleyExtension.SetDefaultColor(Color.Dark_Orange);
     prevValleyExtension.SetHiding(!inRange2);

plot breakout = close crosses above peakline ;
#breakout.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
     breakout.SetDefaultColor(Color.Green);
     breakout.SetLineWeight(2);
     breakout.HideBubble();
plot breakdown =  close crosses below valleyline ;
    # breakdown.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_down);
     breakdown.SetDefaultColor(Color.red);
     breakdown.SetLineWeight(2);
     breakdown.HideBubble();


AddCloud(if peakline  > valleyline + .30 then valleyline else double.nan, valleyline + 0.11, CreateColor(255, 204, 204));
AddCloud(if peakline  > valleyline + .30 then peakline else double.nan, peakline - 0.11, CreateColor(204, 255, 204));

# paint entry candle if user so desires
input PaintEntryCandle = yes;

plot ShortReversalRange = close  crosses above peakline -.10 and  (peakline - .10) > (valleyline + 0.10);
ShortReversalRange.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_down);
     ShortReversalRange.SetDefaultColor(Color.red);
     ShortReversalRange.SetLineWeight(2);
     ShortReversalRange.HideBubble();
plot LongReversalRange = close crosses below valleyline +.10 and  (peakline - .10) > (valleyline + 0.10);
    LongReversalRange.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
     LongReversalRange.SetDefaultColor(Color.Green);
     LongReversalRange.SetLineWeight(2);
     LongReversalRange.HideBubble();

#AssignPriceColor(if PaintEntryCandle and  ShortReversalRange then Color.red else Color.CURRENT);
#AssignPriceColor(if PaintEntryCandle and LongReversalRange  then color.yellow else Color.CURRENT);

 

[RobertPayne]

The code you are basing your peaks / valleys on is from when I was first getting started. The way it is constructed works in the past, but results in a Double.NaN on the right edge of the charts. That is to say, it doesn't have a value on the most recent candle. That's why your scan isn't working.

I have since developed a better way of identifying swing highs / lows (peaks / valleys). Please see this example. It will work for you.

 

[Brazilianpillar]

@RobertPayne awesome!!! thank you

 

[Bobbydigital83]

How to interpret/understand "Peak to Valley DD: -433.10%" ?

I saw this on one of the posts here but I was confused on what it exactly means and how it should be interpreted. Can someone please explain? Thanks in advance!

 

[dmillz]

input magnitude = 10;

# define and plot the most recent peak
def peak = high >= Highest(high[1], magnitude) and high >= Highest(high[-magnitude], magnitude);
def peakvalue = if BarNumber() < magnitude then Double.NaN else if peak then high else Double.NaN;
plot peakline = peakvalue;
        peakline.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
        peakline.SetDefaultColor(Color.DOWNTICK);
        peakline.SetLineWeight(1);


# define and plot the most recent valley
def valley = low <= Lowest(low[1], magnitude) and low <= Lowest(low[-magnitude], magnitude);
def valleyvalue = if BarNumber() < magnitude then Double.NaN else if valley then low else Double.NaN;
plot valleyline = valleyvalue;
        valleyline.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
        valleyline.SetDefaultColor(Color.UPTICK);
        valleyline.SetLineWeight(1);

 

[dmillz]

I am also having trouble scanning for reversal arrows.... I set it to TRUE within 4 bars and no results any help?

 

[halcyonguy]

I am also having trouble scanning for reversal arrows.... I set it to TRUE within 4 bars and no results any help?

That code in post 5, looks at 10 bars Before & After the current bar, to define a peak.
magnitude = 10;
you will need to use
within 11 bars
to possibly find one.

or change magnitude to a smaller number.

or edit the code formula for
peak=
so that it doesn't look at so many future bars.
def future = 3;
def peak = high >= Highest(high[1], magnitude) and high >= Highest(high[-future], future);

scans and column studies want only 1 output function. there are 2 plots in post #5. more than 1 and the output may default to the 1st plot or just be wrong.

 

[dmillz]

That code in post 5, looks at 10 bars Before & After the current bar, to define a peak.
magnitude = 10;
you will need to use
within 11 bars
to possibly find one.

or change magnitude to a smaller number.

or edit the code formula for
peak=
so that it doesn't look at so many future bars.
def future = 3;
def peak = high >= Highest(high[1], magnitude) and high >= Highest(high[-future], future);

scans and column studies want only 1 output function. there are 2 plots in post #5. more than 1 and the output may default to the 1st plot or just be wrong.

Thanks so much That sounds about right because i just scanned and yes it worked after 12 bars i guess i need to find another way to scan for bottoms reversing....