Analysis Techniques & Strategies
|Length||Numeric||20||Number of bars used to calculate the lower band.|
Short entry based on price crossing below a price channel.
This strategy looks for the current price to break below a price channel to place orders. It places a sell stop order on the next bar at the lowest Low of the last Length (Input) number of bars (lower band) minus one point. There are no other entry conditions. You can change number of bars used to calculate the price channel.
The IntrabarOrderGeneration attribute is set to false in this strategy because strategy calculations depend on end-of-bar prices. Specifically, the price at which the strategy's stop order is placed is based on the lowest low over a number of bars, including the currently building bar. It is not until the currently building bar is closed that its final low can be known and, therefore, that the channel low, the lowest low over Length bars, can be calculated.
Order Name: PChSE
Related Strategy: Price Channel LE
Related Function(s): LowestFC