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||38||Value to trigger the entry once PercentR is considered OverBought.|
Short entry based on the calculation of PercentR.
This strategy generates a short entry order when the percent retracement value moves from above the OverBought level to below the Trigger level. The order is placed for the next current bar at open. If the percent retracement value moves below the OverSold level, the order is canceled.
Order Name: PctRSE
Related Strategy: PercentR LE
Related Function(s): Percentr, Average