Counter trend script

Optuma Forums Optuma Scripting Counter trend script

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  • #66131
    Peter
    • Topics: 1
    • Replies: 1
    • Posts: 2

    I want to find pullbacks as shown in the jpg below. In this case there is pullback of >10% after a 2 bar counter trend.

    I am interested in identifying counter trends of 1-4 bars in monthly charts.

    I assume a script is the easiest way to do this?

    How do I go about this? I have no idea where to start.

    Thanks
    Peter

    #66159
    Darren
    • Topics: 66
    • Replies: 680
    • Posts: 746

    Hi Peter,

    The first step is to define a set of conditions that you are looking for, which then need to be put in to a scripting formula. You’ve said you’re looking for a counter-trend, but how do you define a trend, eg moving average slope, higher swing highs?

    If you haven’t seen our scripting tutorial videos to help you get started please click here: https://learn.optuma.com/courses/introduction-to-scripting/

    If you need help building the formula we do offer scripting consultations where we can build it for you. For more details and rates see here:

    Optuma Consults

    #66185
    Peter
    • Topics: 1
    • Replies: 1
    • Posts: 2

    Thanks Darren

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