I was wondering if anyone is wiling to code this simple indicator/charting method that is described in Steve Nison's book Beyond Candlestick (I think this could be done by modifying the Darvas Box indicator).
Descriptions:
Easy Language code:
This is the tradestation version of this indicator and some nicer looking alternatives:
Descriptions:
Three line break charts display a series of vertical boxes that are based on the closing prices. Every time there is a higher close a new green box is created. When the price closes below the low of the last 3 green boxes the trend shifts to down and we start drawing red boxes.
To draw line break blocks, today's close is compared to the high and low of the previous block. A block is drawn only when today's close exceeds the high or low of the previous block. If today's close is higher than the top of the previous block, a new up block is drawn in the next column from the prior high to the new high price (today's close). If today's close is lower than the bottom of the previous block, a new down block is drawn in the next column from the prior low to the new low price (today's close). If the close fails to move outside the range of the previous block's high or low, then nothing is drawn. In a three-line break chart, if rallies are strong enough to display three consecutive blocks in the same direction, then prices must reverse by the extreme price of the last three blocks in order to create a new block.
If a rally is powerful enough to form three consecutive up blocks, then prices must fall below the lowest point of the last three up blocks before a new down block is drawn. If a selloff is powerful enough to form three consecutive down blocks, then prices must rise above the highest point of the last three down blocks before a new up block is drawn.
If a rally is powerful enough to form three consecutive up blocks, then prices must fall below the lowest point of the last three up blocks before a new down block is drawn. If a selloff is powerful enough to form three consecutive down blocks, then prices must rise above the highest point of the last three down blocks before a new up block is drawn.
Easy Language code:
Code:
Type : PaintBar, Name : Three-Line Break Chart Variables:
FUBarHigh(0),
FUBarLow(0),
SUBarHigh(0),
SUBarLow(0),
TUBarHigh(0),
TUBarLow(0),
FLBarHigh(0),
FLBarLow(0),
SLBarHigh(0),
SLBarLow(0),
TLBarHigh(0),
TLBarLow(0),
UpCount(0),
DownCount(0),
UpNew(0),
DnNew(0),
UpRev(0),
DnRev(0),
PlotHigh(0),
PlotLow(0),
Color(0);
If Close > UpNew Then Begin
If DownCount < 3 Then Begin
If UpCount = 0 Then Begin
UpCount = UpCount + 1;
DownCount = 0;
FUBarHigh = Close;
FUBarLow = UpNew;
SUBarHigh = 0;
SUBarLow = 0;
TUBarHigh = 0;
TUBarLow = 0;
FLBarHigh = 0;
FLBarLow = 0;
SLBarHigh = 0;
SLBarLow = 0;
TLBarHigh = 0;
TLBarLow = 0;
UpNew = FUBarHigh;
DnNew = FUBarLow;
PlotHigh = FUBarHigh;
PlotLow = FUBarLow;
Color = 7;
End;
If UpCount = 1 Then
If Close > UpNew Then Begin
UpCount = UpCount + 1;
SUBarHigh = Close;
SUBarLow = FUBarHigh;
UpNew = SUBarHigh;
DnNew = SUBarLow;
PlotHigh = SUBarHigh;
PlotLow = SUBarLow;
Color = 8;
End;
If UpCount = 2 Then
If Close > UpNew Then Begin
UpCount = UpCount + 1;
TUBarHigh = Close;
TUBarLow = SUBarHigh;
UpNew = TUBarHigh;
DnNew = TUBarLow;
PlotHigh = TUBarHigh;
PlotLow = TUBarLow;
Color = 7;
End;
If UpCount = 3 Then
If Close > UpNew Then Begin
FUBarHigh = SUBarHigh;
FUBarLow = SUBarLow;
SUBarHigh = TUBarHigh;
SUBarLow = TUBarLow;
TUBarHigh = Close;
TUBarLow = SUBarHigh;
UpNew = TUBarHigh;
DnNew = TUBarLow;
PlotHigh = TUBarHigh;
PlotLow = TUBarLow;
If Color = 7 Then
Color = 8
Else
Color = 7;
End;
End;
If DownCount = 3 Then Begin
UpRev = FLBarHigh;
If Close > UpRev Then Begin
UpCount = UpCount + 1;
DownCount = 0;
FUBarHigh = Close;
FUBarLow = TLBarHigh;
SUBarHigh = 0;
SUBarLow = 0;
TUBarHigh = 0;
TUBarLow = 0;
FLBarHigh = 0;
FLBarLow = 0;
SLBarHigh = 0;
SLBarLow = 0;
TLBarHigh = 0;
TLBarLow = 0;
UpNew = FUBarHigh;
DnNew = FUBarLow;
PlotHigh = FUBarHigh;
PlotLow = FUBarLow;
Color = 7;
End;
End;
End;
If Close < DnNew Then Begin
If UpCount < 3 Then Begin
If DownCount = 0 Then Begin
DownCount = DownCount + 1;
UpCount = 0;
FLBarHigh = DnNew;
FLBarLow = Close;
SLBarHigh = 0;
SLBarLow = 0;
TLBarHigh = 0;
TLBarLow = 0;
FUBarHigh = 0;
FUBarLow = 0;
SUBarHigh = 0;
SUBarLow = 0;
TUBarHigh = 0;
TUBarLow = 0;
UpNew = FLBarHigh;
DnNew = FLBarLow;
PlotHigh = FLBarHigh;
PlotLow = FLBarLow;
Color = 6;
End;
If DownCount = 1 Then
If Close < DnNew Then Begin
DownCount = DownCount + 1;
SLBarHigh = FLBarLow;
SLBarLow = Close;
UpNew = SLBarHigh;
DnNew = SLBarLow;
PlotHigh = SLBarHigh;
PlotLow = SLbarLow;
Color = 5;
End;
If DownCount = 2 Then
If Close < DnNew Then Begin
DownCount = DownCount + 1;
TLBarHigh = SLBarLow;
TLBarLow = Close;
UpNew = TLBarHigh;
DnNew = TLBarLow;
PlotHigh = TLBarHigh;
PlotLow = TLBarLow;
Color = 6;
End;
If DownCount = 3 Then
If Close < DnNew Then Begin
FLBarHigh = SLBarHigh;
FLBarLow = SLBarLow;
SLBarHigh = TLBarHigh;
SLBarLow = TLBarLow;
TLBarHigh = SLBarLow;
TLBarLow = Close;
UpNew = TLBarHigh;
DnNew = TLBarLow;
PlotHigh = TLBarHigh;
PlotLow = TLBarLow;
If Color = 6 Then
Color = 5
Else
Color = 6;
End;
End;
If UpCount = 3 Then Begin
DnRev = FUBarLow;
If Close < DnRev Then Begin
DownCount = DownCount + 1;
UpCount = 0;
FLBarHigh = TUBarLow;
FLBarLow = Close;
SLBarHigh = 0;
SLBarLow = 0;
TLBarHigh = 0;
TLBarLow = 0;
FUBarHigh = 0;
FUBarLow = 0;
SUBarHigh = 0;
SUBarLow = 0;
TUBarHigh = 0;
TUBarLow = 0;
UpNew = FLBarHigh;
DnNew = FLBarLow;
PlotHigh = FLBarHigh;
PlotLow = FLBarLow;
Color = 6;
End;
End;
End; Plot1(PlotHigh,"High Bar",Color);
Plot2(PlotLow,"Low Bar",Color);[FONT=Arial]
[/FONT]
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