FWguide3BarBrkOut.efs

FWguide3BarBrkOut.efs    

File Name: FWguide3BarBrkOut.efs

Description:
Formula Wizard study of the Three Bar Break Out System example found in the Formula Wizard Guide. This back testing study is a trading system that takes a long position when the close goes above the previous 3 period's highest high and goes short when the close goes below the previous 3 period's lowest low. The price bars are colored green at long entry and red at short entry.

Formula Parameters:

NA

Notes:

This formula is a back testing formula to be used in conjunction with the Strategy Analyzer. It is not intended for real time analysis.

Download File:
FWguide3BarBrkOut.efs


EFS Code:

//{{EFSWizard_Description
//
//    This formula was generated by the Alert Wizard
//
//}}EFSWizard_Description 7532


//{{EFSWizard_Declarations

var vLastAlert = -1;

//}}EFSWizard_Declarations 2482


function preMain() {
//{{EFSWizard_Code_PreMain_setPriceBarColor
setColorPriceBars(true);
//}}EFSWizard_Code_PreMain_setPriceBarColor 3448
   /**
    *  This function is called only once, before any of the bars are loaded.
    *  Place any study or EFS configuration commands here.
    */
//{{EFSWizard_PreMain
    setPriceStudy(true);
    setStudyTitle("Three Bar Breakout System");
//}}EFSWizard_PreMain 8625

}

function main() {
   /**
    *  The main() function is called once per bar on all previous bars, once per
    *  each incoming completed bar, and if you don't have 'setComputeOnClose(true)'
    *  in your preMain(), it is also called on every tick.
    */

//{{EFSWizard_Expressions
    //{{EFSWizard_Expression_1
        if (
            Strategy.isLong() == false &&
            close() > high(-1) &&
            close() > high(-2) &&
            close() > high(-3)
        ) onAction1()
    //}}EFSWizard_Expression_1 18471
    
    //{{EFSWizard_Expression_2
        else if (
            Strategy.isShort() == false &&
            close() < low(-1) &&
            close() < low(-2) &&
            close() < low(-3)
        ) onAction2();
    //}}EFSWizard_Expression_2 20408
    
//}}EFSWizard_Expressions 60799


//{{EFSWizard_Return
    return null;
//}}EFSWizard_Return 2256

}

function postMain() {
   /**
    *  The postMain() function is called only once, when the EFS is no longer used for
    *  the current symbol (ie, symbol change, chart closing, or application shutdown).
    */
}

//{{EFSWizard_Actions
    //{{EFSWizard_Action_1
    function onAction1() {
        setPriceBarColor(Color.RGB(0,128,0));
        if (vLastAlert != 1) Strategy.doLong("", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT, 0);
        if (vLastAlert != 1) Strategy.setStop(low()-.25);
        vLastAlert = 1;
    }
    //}}EFSWizard_Action_1 29958
    
    //{{EFSWizard_Action_2
    function onAction2() {
        setPriceBarColor(Color.RGB(155,0,0));
        if (vLastAlert != 2) Strategy.doShort("", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT, 0);
        if (vLastAlert != 2) Strategy.setStop(high()+.25);
        vLastAlert = 2;
    }
    //}}EFSWizard_Action_2 30545
    
//}}EFSWizard_Actions 81561