Candle Type w/2Up + 2Dn v2.0

25 Apr 2020

This script builds on Candle Type w/2Up + 2Dn by incorporating signals for inside + up, outside + up, + rev strat set-ups. All of these can be turned off if they compete w/ other indicators or just clutter up the chart.

Briefly, the script works based on #thestrat developed by Rob Smith and the 1-2-3 bar script coded by @Crinklebine. Candle Type w/2Up + 2Dn is a "fork" of Crinklebine's excellent indicator. I find the visualization of U-D-I-O (up/dn/inside/outside candles) easier to scan through 100's of charts than 1-2-3's. This is just personal preference, but they work based on the exact same principles. Performance is enhanced with a trend filter like boardriderb's "TC" script or similar timeframe continuity filters based on the #thestrat developed by Rob Smith. I also prefer an ATR-based trailing stop; Rob recommends pSAR for trailing stops.

Together these indicators form a power system, but users are still responsible for their own trade management, entries & exits, risk profiles, stop loss, etc.

20 Apr

Nota Keluaran

Updated & streamlined code to v6
Added alert conditions, so you can easily set alerts for popular Strat patterns.

26 Apr

Nota Keluaran

Added function to force Strat letter labels to Max_Count_500

26 Apr

Nota Keluaran

Added plotshapes for inside & outside candles
(Note: generally, i pick either letter codes [below candles] or shapes [above candles] - not both)