ThreeBar_IBP.efs
File Name: ThreeBar_IBP.efs
Description:
Three-Bar Inside Bar Pattern
Formula Parameters:
- Profit Target Level: 0.75
- Stop-loss Level: 0.75
Notes:
The related article is copyrighted material. If you are not a subscriber of Stocks & Commodities, please visit www.traders.com.
Download File:
ThreeBar_IBP.efs
EFS Code:
/*********************************
Provided By:
Interactive Data Corporation (Copyright © 2010)
All rights reserved. This sample eSignal Formula Script (EFS)
is for educational purposes only. Interactive Data Corporation
reserves the right to modify and overwrite this EFS file with
each new release.
Description:
Three-Bar Inside Bar Pattern
Version: 1.0 14/01/2011
Formula Parameters: Default:
Profit Target Level 0.75
Stop-loss Level 0.75
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();
var bVersion = null;
function preMain()
{
setPriceStudy(true);
var x=0;
fpArray[x] = new FunctionParameter("gPT", FunctionParameter.NUMBER);
with(fpArray[x++])
{
setName("Profit Target Level");
setLowerLimit(0.0001);
setDefault(0.75);
}
fpArray[x] = new FunctionParameter("gSL", FunctionParameter.NUMBER);
with(fpArray[x++])
{
setName("Stop-loss Level");
setLowerLimit(0.0001);
setDefault(0.75);
}
}
var i = 0;
var entryPrice = 0;
var startPos = 0;
function main(gPT, gSL)
{
if (bVersion == null) bVersion = verify();
if (bVersion == false) return;
if (getCurrentBarIndex() == 0 || getCurrentBarCount() < 4) return;
if ((high(0) < high(-1)) && (low(0) > low(-1)))
{
drawLineRelative(-1,high(-1),0,high(-1), PS_SOLID, 1, Color.grey, i++);
drawLineRelative(-1,low(-1),0,low(-1), PS_SOLID, 1, Color.grey, i++);
}
// Exit Strategy
if (Strategy.isLong())
{
startPos --;
if (high(0) >= entryPrice+entryPrice*(gPT / 100))
{//limit long position
Strategy.doSell("Exit Long", Strategy.LIMIT, Strategy.THISBAR, Strategy.ALL, Math.max(open(0), (entryPrice+entryPrice*(gPT / 100))));
drawShapeRelative(0,AboveBar1, Shape.DOWNARROW, null, Color.lime, Shape.PRESET, i++);
drawTextRelative(0,AboveBar2, "Sell", Color.white, Color.lime, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,AboveBar3, "0", Color.lime, null, Text.PRESET | Text.CENTER, "Arial", 10, i++);
drawLineRelative(startPos, open(startPos), 0, open(0), PS_SOLID, 2, Color.yellow, i++);
}
if (low(0) <= entryPrice-entryPrice*(gSL / 100))
{//stop long position
Strategy.doSell("Exit Long", Strategy.STOP, Strategy.THISBAR, Strategy.ALL, Math.min(open(0), (entryPrice-entryPrice*(gSL / 100))));
drawShapeRelative(0,AboveBar1, Shape.DOWNARROW, null, Color.lime, Shape.PRESET, i++);
drawTextRelative(0,AboveBar2, "Sell", Color.white, Color.lime, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,AboveBar3, "0", Color.lime, null, Text.PRESET | Text.CENTER, "Arial", 10, i++);
drawLineRelative(startPos, open(startPos), 0, open(0), PS_SOLID, 2, Color.yellow, i++);
}
}
if (Strategy.isShort())
{
startPos--;
if (low(0) <= entryPrice-entryPrice*(gPT / 100))
{//limit short position
Strategy.doCover("Exit Short", Strategy.LIMIT, Strategy.THISBAR, Strategy.ALL, Math.min(open(0), (entryPrice-entryPrice*(gSL / 100))));
drawShapeRelative(0,BelowBar1, Shape.UPARROW, null, Color.red, Shape.PRESET, i++);
drawTextRelative(0,BelowBar2, "Cover", Color.white, Color.red, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,BelowBar3, "0", Color.red, null, Text.PRESET|Text.CENTER, "Arial", 10, i++);
drawLineRelative(startPos, open(startPos), 0, open(0), PS_SOLID, 2, Color.yellow, i++);
}
if (high(0) >= entryPrice+entryPrice*(gSL / 100))
{//stop short position
Strategy.doCover("Exit Short", Strategy.STOP, Strategy.THISBAR, Strategy.ALL, Math.max(open(0), (entryPrice+entryPrice*(gSL / 100))));
drawShapeRelative(0,BelowBar1, Shape.UPARROW, null, Color.red, Shape.PRESET, i++);
drawTextRelative(0,BelowBar2, "Cover", Color.white, Color.red, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,BelowBar3, "0", Color.red, null, Text.PRESET|Text.CENTER, "Arial", 10, i++);
drawLineRelative(startPos, open(startPos), 0, open(0), PS_SOLID, 2, Color.yellow, i++);
}
}
// Entry Strategy
if (!Strategy.isInTrade())
{
if ((close(-1) > close(-2)) && (high(-2) < high(-3)) && (low(-2) > low(-3)) && (close(-3) > close(-4)))
{//entry long position
Strategy.doLong ("Entry Long", Strategy.MARKET, Strategy.THISBAR);
drawShapeRelative(0,BelowBar1, Shape.UPARROW, null, Color.lime, Shape.PRESET, i++);
drawTextRelative(0,BelowBar2, "Buy", Color.white, Color.lime, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,BelowBar3, "1", Color.lime, null, Text.PRESET|Text.CENTER, "Arial", 10, i++);
entryPrice = close(-1);
startPos = 0;
}
if ((close(-1) < close(-2)) && (high(-2) < high(-3)) && (low(-2) > low(-3)) && close(-3) < close(-4))
{//entry short position
Strategy.doShort ("Entry Short", Strategy.MARKET, Strategy.THISBAR);
drawShapeRelative(0,AboveBar1, Shape.DOWNARROW, null, Color.red, Shape.PRESET, i++);
drawTextRelative(0,AboveBar2, "Short", Color.white, Color.red, Text.PRESET|Text.FRAME|Text.CENTER, "Arial", 10, i++);
drawTextRelative(0,AboveBar3, "-1", Color.red, null, Text.PRESET | Text.CENTER, "Arial", 10, i++);
entryPrice = close(-1);
startPos = 0;
}
}
if (Strategy.isLong()) setBarBgColor(Color.darkgreen);
if (Strategy.isShort()) setBarBgColor(Color.maroon);
}
function verify() {
var b = false;
if (getBuildNumber() < 779) {
drawTextAbsolute(5, 35, "This study requires version 8.0 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;
}