Analysis Techniques & Strategies
|Length||Numeric||20||Number of bars used to calculate the upper band.|
Long entry based on price crossing above a price channel.
This strategy looks for the current price to break above a price channel to place orders. It places a buy stop order on the next bar at the highest High of the last Length (Input) number of bars (upper band) plus one point. There are no other entry conditions. You can change the 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 highest high over a number of bars, including the currently building bar. It is not until the currently building bar is closed that its final high can be known and, therefore, that the channel high, the highest high over Length bars, can be calculated.
Order Name: PChLE
Related Strategy: Price Channel SE
Related Function(s): HighestFC