Scanning for RTM trades
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Scanning for RTM trades

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Code for Scan >= upper band --

input price = close; input ATR_length = 13; input EMA_length = 13; input displace = 0; input multiplier_factor = 1.5; def AvgExp = ExpAverage(price[-displace], EMA_length); def average_true_range = Average(TrueRange(high, close, low), length = atr_length); def Upper_Band = AvgExp[-displace] + multiplier_factor * average_true_range[-displace]; plot aboverb = price >= Upper_Band;

Code for scan <= lower band --

input price = close; input ATR_length = 13; input EMA_length = 13; input displace = 0; input multiplier_factor = 1.5; def AvgExp = ExpAverage(price[-displace], EMA_length); def average_true_range = Average(TrueRange(high, close, low), length = atr_length); def Lower_Band = AvgExp[-displace] - multiplier_factor * average_true_range[-displace]; plot belowrb = price <= Lower_Band;

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6 of 7 people found the following article helpful:
Video?, August 19, 2012
By wmarshal - See all my articles    
Henry: Where is the video for the Scanning for RTM Trades?