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File Name: FWguide3BarBrkOut.efs

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:

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:

EFS Code:
//{{EFSWizard_Description////    This formula was generated by the Alert Wizard////}}EFSWizard_Description 7532//{{EFSWizard_Declarationsvar vLastAlert = -1;//}}EFSWizard_Declarations 2482function preMain() {//{{EFSWizard_Code_PreMain_setPriceBarColorsetColorPriceBars(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