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| Added: August 13, 2008 |
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Origin: omega-list
Written by: Walt Downs
Date found: 1 dec 97
Indicator calculates triangles based on SwingHighs and lows of a 10 day range, and with a swing strength of "1". Larger
triangles can be calculated by increasing the strength and/or HighestBar/LowestBar range settings. The indicator plots
a simple "spike" graph, alerting the trader to the presence of a triangle. The trader can then apply logical trendlines to establish break-out points.
Code:
Type : Function, Name : Triangle Pattern Indicator
input:
OccurH1(numericsimple),OccurH2(numericsimple),OccurL1(numericsimple),
OccurL2(numericsimple),PriceH1(numericseries),PriceH2(numericseries),
PriceL1(numericseries),PriceL2(numericseries),StrenH(numericsimple),
StrenL(numericsimple),Len(numericsimple);
value1 = SwingHighBar(OccurH1,PriceH1,StrenH,Len);
value2 = SwingHighBar(OccurH2,PriceH2,StrenH,Len);
value3 = SwingLowBar(OccurL1,PriceL1,StrenL,Len);
value4 = SwingLowBar(OccurL2,PriceL2,StrenL,Len);
Condition1 = high of value2 bars ago > high of value1 bars ago;
Condition2 = low of value4 bars ago < low of value3 bars ago;
Condition3 = HighestBar(H,Len) = value2;
Condition4 = LowestBar(low,Len) = value4;
if
Condition1 and
Condition2 and
Condition3 and
Condition4
then Triangle = true
else Triangle = false;
Type : Indicator, Name : Triangle Pattern Indicator
input:
OccurH1(1),
OccurH2(2),
OccurL1(1),
OccurL2(2),
PriceH1(high),
PriceH2(high),
PriceL1(low),
PriceL2(low),
StrenH(1),
StrenL(1),
Len(10);
if
Triangle(OccurH1,OccurH2,OccurL1,OccurL2,PriceH1,
PriceH2,PriceL1,PriceL2,StrenH,StrenL,Len)
= true then plot1(10,"TriFinder")
else plot1(0,"TriFinder");
if
Triangle(OccurH1,OccurH2,OccurL1,OccurL2,PriceH1,PriceH2,
PriceL1,PriceL2,StrenH,StrenL,Len)
= true then Alert = true;
Author: Walt Downs
Source: http://home.iae.nl
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