123 Up

 

MSL = market structure low MSH = market structure high This detects a MSL, followed by a MSH followed by an MSL that's higher than the previous MSL. This is useful for finding potential turning points to go long. It's useful in conjunction in areas that are potential pivots, such as Volatility Bands. Parameters: BarsBack MinSeparation

Min Separation specfies the minimum separation in number of bars between the two MSLs.
Min Separation must be less than BarsBack

Arguments:

None

Output Indicators:

Detected

This outputs a 1 if a 123Up is found in the last number of bars specified by BarsBack it returns a 0 otherwise.

Example:

Study Name Expanded in a 3 minute timeframe:

I3_123Up(10,5)_I3

This study detects a 123Up in the last 10 bars of the 3 minute time frame. It detects 123Ups that have a minimum 5 bar separation between the MSLs.

The output indicators names are appended to the studyname, that is if the studyname is sn1 then the outputindicator is

sn1::Detected