Hi,
I am using Line Breaks bars to mitigate safer Uptrend and Downtrend opportunities to enter a trade, and realized there could be an advantage in having a different and customizable number of Line Breaks for Long Bars and Short bars at the same Chart.
Having two different settings at Data Settings options ( for Long bars and Short bars) would help to create a desired region to enter a trade in one direction (bigger number of Line Breaks), while at the same chart, create a safer region to exit a trade at the opposite direction ( shorter number of Line Breaks). As as result of this rationale, it would be needed to keep two different charts opened, one that portraits scenarios that are favorable to Uptrends ( Long Bars count is larger than Short bars count) and another for scenarios favorable to Downtrends (Short Bars count is larger than Long bars count). That would entail a change at the code to create two different fields where the different settings would be entered and not just a single "Line Breaks" field at Data Series. The idea is anticipate the best possible Line Break bar counts for Long Bars and Short Bars, for either an Uptrend Scenario of Downtrend Scenario.
Q- I'd like the opinion if the Line Break bars code can be modified to accommodate these changes...?
The image depicts the scenario that needs to be avoided, where profits were about to be realized and a big move in the opposite direction happens.
Note- I am aware there could exist a similar unfavorable circumstance happening at the previous bar at "EXIT the Trade", even though it is not being shown because the Line Break bar count has not been reached yet.
Thanks Much indeed,
G
I am using Line Breaks bars to mitigate safer Uptrend and Downtrend opportunities to enter a trade, and realized there could be an advantage in having a different and customizable number of Line Breaks for Long Bars and Short bars at the same Chart.
Having two different settings at Data Settings options ( for Long bars and Short bars) would help to create a desired region to enter a trade in one direction (bigger number of Line Breaks), while at the same chart, create a safer region to exit a trade at the opposite direction ( shorter number of Line Breaks). As as result of this rationale, it would be needed to keep two different charts opened, one that portraits scenarios that are favorable to Uptrends ( Long Bars count is larger than Short bars count) and another for scenarios favorable to Downtrends (Short Bars count is larger than Long bars count). That would entail a change at the code to create two different fields where the different settings would be entered and not just a single "Line Breaks" field at Data Series. The idea is anticipate the best possible Line Break bar counts for Long Bars and Short Bars, for either an Uptrend Scenario of Downtrend Scenario.
Q- I'd like the opinion if the Line Break bars code can be modified to accommodate these changes...?
The image depicts the scenario that needs to be avoided, where profits were about to be realized and a big move in the opposite direction happens.
Note- I am aware there could exist a similar unfavorable circumstance happening at the previous bar at "EXIT the Trade", even though it is not being shown because the Line Break bar count has not been reached yet.
Thanks Much indeed,
G
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