ATR_Breakout.efs
File Name: ATR_Breakout.efs
Description:
ATR Breakout Entries by Ken Calhoun
Formula Parameters:
ATR_Breakout.efs
- ATR Length: 14
- Highest ATR Lookback: 14
- SMA Length: 100
- Use Wide Range condition: true
- Wide Range Lookback: 7
- Trailing Stop: 2
Notes:
The related article is copyrighted material. If you are not a subscriber of Stocks & Commodities, please visit www.traders.com.
Download File:
ATR_Breakout.efs
EFS Code:
/*********************************
Provided By:
eSignal (Copyright c eSignal), a division of Interactive Data
Corporation. 2016. All rights reserved. This sample eSignal
Formula Script (EFS) is for educational purposes only and may be
modified and saved under a new file name. eSignal is not responsible
for the functionality once modified. eSignal reserves the right
to modify and overwrite this EFS file with each new release.
Description:
ATR Breakout Entries by Ken Calhoun
Version: 1.00 02/08/2016
Formula Parameters: Default:
ATR Length 14
Highest ATR Lookback 14
SMA Length 100
Use Wide Range condition true
Wide Range Lookback 7
Trailing Stop 2
Notes:
The related article is copyrighted material. If you are not a subscriber
of Stocks & Commodities, please visit www.traders.com.
**********************************/
var fpArray = new Array();
function preMain(){
setPriceStudy(true);
setCursorLabelName("SMA");
var x=0;
fpArray[x] = new FunctionParameter("ATRLength", FunctionParameter.NUMBER);
with(fpArray[x++]){
setLowerLimit(1);
setUpperLimit(1000);
setDefault(14);
setName("ATR Length");
}
fpArray[x] = new FunctionParameter("ATRlb", FunctionParameter.NUMBER);
with(fpArray[x++]){
setLowerLimit(1);
setUpperLimit(1000);
setDefault(14);
setName("Highest ATR Lookback");
}
fpArray[x] = new FunctionParameter("SMALength", FunctionParameter.NUMBER);
with(fpArray[x++]){
setLowerLimit(1);
setUpperLimit(1000);
setDefault(100);
setName("SMA Length");
}
fpArray[x] = new FunctionParameter("isWR", FunctionParameter.BOOLEAN);
with(fpArray[x++]){
setDefault(true);
setName("Use Wide Range condition");
}
fpArray[x] = new FunctionParameter("RangeLen", FunctionParameter.NUMBER);
with(fpArray[x++]){
setLowerLimit(1);
setUpperLimit(1000);
setDefault(7);
setName("Wide Range Lookback");
}
fpArray[x] = new FunctionParameter("TrlStop", FunctionParameter.NUMBER);
with(fpArray[x++]){
setLowerLimit(0.01);
setDefault(2);
setName("Trailing Stop");
}
}
var bInit = false;
var bVersion = null;
var xClose = null;
var xHigh = null;
var xLow = null;
var bIsLong = false;
var bEntryFound = false;
var vStopPrice = null;
var vHighOfDay = null;
var xSMA = null;
var xATR = null;
var xHighestATR = null;
var xRange = null;
var xWR = null;
var vHighestHigh = null;
function main(ATRLength,ATRlb,SMALength,isWR,RangeLen, TrlStop){
if (bVersion == null) bVersion = verify();
if (bVersion == false) return;
if(getBarState() == BARSTATE_ALLBARS){
xClose = null;
xHigh = null;
xLow = null;
bIsLong = false;
bEntryFound = false;
vStopPrice = null;
bVersion = null;
vHighOfDay = null;
xSMA = null;
xATR = null;
xHighestATR = null;
xRange = null;
xWR = null;
vHighestHigh = null;
bInit = false;
}
if (!bInit){
bIsLong = false;
bEntryFound = false;
xClose = close();
xHigh = high();
xLow = low();
xSMA = sma(SMALength);
xATR = atr(ATRLength);
xHighestATR = hhv(ATRlb, xATR);
if (isWR){
xRange = efsInternal("calcRange", inv("D"));
xWR = upperDonchian(RangeLen-1,xRange);
}
bInit = true;
}
if(xSMA.getValue(-1) == null) return;
var nATR = xATR.getValue(0);
var nSMA = xSMA.getValue(0);
var nPrevSMA = xSMA.getValue(-1);
var nPrevHATR = xHighestATR.getValue(-1)
var nClose = xClose.getValue(0);
var nLow = xLow.getValue(0);
var nHigh = xHigh.getValue(0);
var nPrevHigh = xHigh.getValue(-1);
if (bIsLong){
if (nHigh > vHighestHigh && (nLow - TrlStop) > vStopPrice) {
vStopPrice = (nLow - TrlStop);
vHighestHigh = nHigh
}
else if (nLow <= vStopPrice){
drawTextRelative(0, AboveBar1, "\u00EA", Color.red, null, Text.PRESET|Text.CENTER, "Wingdings", 10, "Exit"+rawtime(0));
drawText("Suggested Long Exit at "+formatPriceNumber(vStopPrice),BottomRow1,Color.red,Text.LEFT,"Text Exit"+rawtime(0));
bIsLong = false;
bEntryFound = false;
}
}
if (bEntryFound && !bIsLong && nHigh >= vHighOfDay) {
drawTextRelative(0,BelowBar1, "\u00E9", Color.green, null, Text.PRESET|Text.CENTER, "Wingdings", 10, "Long"+rawtime(0));
drawText("Suggested Long Entry at "+formatPriceNumber(vHighOfDay),TopRow1,Color.green,Text.LEFT,"Text"+rawtime(0));
bIsLong = true;
vStopPrice = (nLow - TrlStop);
vHighestHigh = nHigh;
}
if(!bIsLong && nATR >= nPrevHATR && nHigh > nSMA && nPrevSMA > nPrevHigh){
if (!isWR || isWR && IsWideCandle()) {
vHighOfDay = nHigh + 0.5;
bEntryFound = true;
}
}
return nSMA;
}
function IsWideCandle(){
if (xWR.getValue(0) > xWR.getValue(-1))
return true;
else return false;
}
function calcRange(){
return high() - low();
}
function verify(){
var b = false;
if (getBuildNumber() < 779){
drawTextAbsolute(5, 35, "This study requires version 12.1 or later.",
Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
null, 13, "error");
drawTextAbsolute(5, 20, "Click HERE to upgrade.@URL=http://www.esignal.com/download/default.asp",
Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
null, 13, "upgrade");
return b;
}
else
b = true;
return b;
}