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Can anyone help with an indicator (attached) I have written?
It's meant for UniRenko bar type, where tick trend is entered as a parameter, and it will then print (on the bar) the number of ticks the most recently closed bar has advanced past the most recent reversal bar. It The results I see in the current and recent time frame are correct, but further back historically it doesn't print.
Not asking anyone to debug, but is there anything obvious?
Can you help answer these questions from other members on NexusFi?
I figured it out. Corrected indicator attached, in case you want to compare or just use the indicator. I was resetting the "_tag" at the beginning of session, so on prior days, there were dups that didn't get printed. Now I'm just starting and 1 and incrementing for the entire chart.
It's meant for UniRenko bar type. If you enter the data series' tick trend as the tick trend parameter of the indicator, the indicator will then print (on the bar) the number of ticks the most recently closed bar has advanced past the close of the most recent reversal bar.
I typically use the close of a reversal bar as my entry point, if other entry criteria are met. I look back historically and use the tick count from this indicator to assess how many ticks I can realistically expect for my take profit level, adjusting for slippage. So in situations where I'm often seeing values like 14, 18, 24, etc printed before a reversal bar in the opposite direction, I would know visually without replay testing that it doesn't make sense to even consider setting my take profit to 28 ticks, for instance.
In the attached image's run to the upside, it wouldn't make sense to set my target to 36 ticks, if this image's run is typical, with one run of 58 but the others falling short of the 36t target with only 26, 34, and 24 ticks before reversing (reversal ticks set to 16) and triggering my stop.
It might not be helpful at all or make sense to you, but it is just a visual tool to help me assess the likely number of ticks in a run. Most other tick counter indicators, like Price Action Swing Pro, include the number of ticks in the reversal bar that started the new trend and therefore weren't exactly what I wanted.
I'm not criticizing the indicator.
I noticed the numbers shown change with the Tick Trend change on the indicator.
Seems they are not actually measuring number of ticks the same.
(i.e the leg that shows 108- 414 on the left image and 72-276 on the right image is actually 119.5 ticks from top to bottom of leg on both.)
Is there a setting that should be used other than the series TickTrend?
Both images are of the same DataSeries and only change is the TickTrend setting in the indicator.
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The indicator's TickTrend parameter MUST MATCH the Tick Trend of the Data Series for the calculation to be correct. (There may be a way to have the indicator figure that out automatically, but I don't know how.) And the indicator is not measuring from the extreme top to bottom of the run or vice versa. It is only measuring from the close of the reversal bar that started the leg (which is the soonest I would be triggered to enter a trade) to the close of the last bar of the run before the reversal bar that ends the run.
See the image. It's measuring from the CLOSE of the bar that started the run (NOT the high) to the CLOSE of the bar before the next reversal bar (NOT the low of the next reversal bar). It sets a bar counter to 0 when there's a reversal bar, then just increments for every new close in that direction and simply multiplies that bar count by the tick trend.
It may be easier to see on the short run that is labeled '18'. There were two complete bars after the reversal bar to the upside closed. Two bars x tick trend of 9 = 18.
Also, for the sake of eliminating clutter, it doesn't print anything until the close of the 2nd bar.
As mentioned above, I have fixed the bug I was asking for help with. I have also found a way to have the code detect the Tick Trend of the data series automatically so it a) doesn't have to be input as a parameter and b) will always be correct. And I've just generally cleaned up the code a bit.
I've attached the indicator again, with all the changes. I hope someone else finds it helpful, too
