Inside Days – Entry prices on Chart

Great post Stuart! You provided a working code sample and screen shot to clarify your point. I probably spent way to much time on this but I had some hurdles to leap in order to get the levels to project into the right expansion area of the chart. I have left off the labels, because all we have available is Chart Bubbles. And those can often clutter up the chart.

In this code I have set the default behavior to plot only if the previous bar was an inside bar. For demonstration purposes, I felt it would provide a clearer picture of how the levels would be applied to a trade. Just change the offset input to zero to have it plot when the inside bar is the current candle.

I cleaned up the code a bit. When plotting your signal, there were several N/A’s. Now it shows either a zero or a 1, which is ideal for running scans. I’ll post both scripts. The scan can be set to look for current inside candles or previous insides candles. Just change the inside_bar[0] to inside_bar[1] or some other number to go back in history.

This is the one for running scans:
def count = 2;
def range = high – low;
#def priorrange = high[1] – low[1];
def priorrange = range[1];
def nibsize = absvalue(((open – close) / (open[1] – close[1])-1));
def sizeConstraint = absvalue((range / priorrange)-1) >= .5 and nibsize >= .5;
def hiLowContraint = high <=high[1] and low >= low[1];
def inside_bar = sizeConstraint and hiLowContraint;
#plot s = inside_bar && lowest(range,count);
plot scan = inside_bar[0];
AssignPriceColor(if inside_bar then Color.WHITE else Color.CURRENT);

This is the one for plotting on the chart:


input offset = 1;
#def count = 2;
def range = high – low;
#def priorrange = high[1] – low[1];
def priorrange = range[1];
def nibsize = absvalue(((open – close) / (open[1] – close[1])-1));
def sizeConstraint = absvalue((range / priorrange)-1) >= .5 and nibsize >= .5;
def hiLowConstraint = high <=high[1] and low >= low[1];
def inside_bar = sizeConstraint and hiLowConstraint;
rec insideBarRange = CompoundValue(1, if inside_bar then range else insideBarRange[1], Double.NaN);
#plot s = inside_bar && lowest(range,count);
def plotRightExpansionArea = !IsNaN(close[1]) and IsNaN(close[0]);
rec longEntry = CompoundValue(1, if plotRightExpansionArea[-1] then if inside_bar[offset] then high[offset] + 0.01 else Double.NaN else longEntry[1], Double.NaN);
rec longExit = CompoundValue(1, if plotRightExpansionArea[-1] then if inside_bar[offset] then longEntry + insideBarRange else Double.NaN else longExit[1], Double.NaN);
rec shortEntry = CompoundValue(1, if plotRightExpansionArea[-1] then if inside_bar[offset] then low[offset] + 0.01 else Double.NaN else shortEntry[1], Double.NaN);
rec shortExit = CompoundValue(1, if plotRightExpansionArea[-1] then if inside_bar[offset] then shortEntry - insideBarRange else Double.NaN else shortExit[1], Double.NaN);
plot longEntryLevel = longEntry;
longEntryLevel.SetDefaultColor(Color.GREEN);
plot longExitLevel = longExit;
longExitLevel.SetDefaultColor(Color.DARK_GREEN);
longExitLevel.SetPaintingStrategy(PaintingStrategy.DASHES);
longExitLevel.SetLineWeight(3);
plot shortEntryLevel = shortEntry;
shortEntryLevel.SetDefaultColor(Color.RED);
plot shortExitLevel = shortExit;
shortExitLevel.SetDefaultColor(Color.RED);
shortExitLevel.SetPaintingStrategy(PaintingStrategy.DASHES);
shortExitLevel.SetLineWeight(3);
AssignPriceColor(if inside_bar then Color.WHITE else Color.CURRENT);

Awesome!  Pumped to try it.   I’ll keep you posted.

S.

Hi Paul,

Lots of awesome work on this! One small issue… the entry/exit prices appear on the chart when there is a bar to the right of the inside day but do not appear when there isn’t a bar to the right.

I have posted two examples the first one is KS (continues the thread) it works perfectly because there is “today’s” bar and then the ‘inside day’ (yesterday’s bar).

The second example – ‘STAY’ has today’s inside bar (uber awesome that it is shown in white, so smart) however, it doesn’t show the enter/exit prices.

Any suggestions on how to get the prices showing when there isn’t a bar in between?