Analysis Techniques & Strategies
|Length||Numeric||14||Number of bars used to calculate the percent retracement value (Percent R).|
|OverSold||Numeric||20||Value at which the PercentR is considered to be OverSold.|
|OverBought||Numeric||80||The value at which the PercentR is considered to OverBought.|
|Trigger||Numeric||62||Value to trigger the entry once PercentR is considered OverSold.|
Long entry based on the calculation of PercentR.
This strategy generates a long entry order when the percent retracement value moves from below the OverSold (Input) level to above the Trigger (Input) level. The order is placed for the next bar at open. If the percent retracement value moves above the OverBought (Input) level, the order is canceled.
Order Name: PctRLE
Related Strategy: PercentR SE
Related Function(s): Percentr, Average