Market Structure

Hi Charles,

Sorry

I forgot to attached the updated code


{Cmacdon note: Step I- Work out what is the market structure definition your are happy to work with.

For this example, I am just taking an original short Fractal Code By Maximo Refer to Forum Post "Adding Fractals to Bull charts" (see that code for original code, and then below I add various additional code to show a text description of market structure plus some fill colouring. Further comments in Green below show each additional coding step to produce chart 3 on the post}

[Description="Cmacdon further code added to the original Fractal of 3 bars, Max"]

[target=price; Visible=True]

{ Fractal High }

{[linestyle=points; color=blue; width=5] } {Remove Original Points Line Style in first chart. see Second chart for replacement text coded below}

Upfractal:=If(H>ref(H,1) and H>ref(H,-1), H*1.001,undefined); {Add Names for Up Fractals to the original code as we will refer to those lines of code further below with additional coding}

{ Fractal Low }

[color=indian red]

Downfractal:=If(L<ref(L,1) and L<ref(L,-1), L*0.999,undefined);{Add Names for Up Fractals to the original code as we will refer to those lines of code further below with additional coding}


{Add Text to replace the original Points Linestyle}

{Text for interpreting market structure showing positive Blue structure Higher Highs(HH)and higher lows (ll), and negative structure, Lower Lows (LL), and lower highs (lh).}

[name=HH; linestyle=Text;fontsize=8; textalign=Above,Centre; color=Blue;]
if(Upfractal>Valuewhen(2,Upfractal,upfractal), + "HH ", +"");
Upfractal*1.001;

[name=lh; linestyle=Text;fontsize=8; textalign=Above,Centre; color=Red;]
if(Upfractal>Valuewhen(2,Upfractal,upfractal), + "", +"lh");
Upfractal*1.001;

[name=LL; linestyle=Text;fontsize=8; textalign=BELOW,Center; color=Red;]
if(Downfractal<Valuewhen(2,Downfractal,Downfractal), + "LL ", +"");
Downfractal*0.999;

[name=hl; linestyle=Text;fontsize=8; textalign=BELOW,Center; color=Blue;]
if(Downfractal<Valuewhen(2,Downfractal,Downfractal), + "", +"hl");
Downfractal*0.999;

{----------This draws Lines I called Creek and Ice (Wyckoff terms)for want of names-------}

HoldLevelPeriod :=
Input("Hold Level Period",100,1);

FrU:=ValueWhen(1,UpFractal,UpFractal);
FrUb:=If(H < FrU and barssince(UpFractal)<HoldLevelPeriod, FrU, undefined);

[name=Creek; linestyle=Horz Step; color=blue; width=1]
FrUb;

FrD:=ValueWhen(1,DownFractal,DownFractal);
FrDb:=If(L > FrD and barssince(DownFractal)<HoldLevelPeriod,FrD,undefined);

[Name=Ice; linestyle=Horz Step; color=red; width=1]
FrDb;

{-----------------------------Colour Market Structure--------------------------------------}

Switch:=if(barssince(valuewhen(1,upfractal))<barssince(valuewhen(1,downfractal)),Frub,Frdb);

{ Fill }
[name=Market Structure Fill; linestyle=fillstep;]

[color=Red] If((L>valuewhen(1,FRUb)),H,Switch);

[color=Cyan] C;


{Only additional thing I do is colour code my price bars per my market Structure definitions which is not per the above example}

[linestyle=pricecolor]

[color=Green] If( c>=valuewhen(1,FRU) OR switch =FRD and c>valuewhen(1,FRD),1,undefined);

[color=Red] If( c<=valuewhen(1,FRD) OR Switch = FRU and c<valuewhen(1,FRU) ,1,undefined);

[color=Black] ;


[Visible=True]
{   I had request for ability to scan so I added my Markers I use for assessing markets from a Wyckoff type interpretation. For Wyckoff Terms Jumping the Creek and Falling Through Ice which are breakout of Trading range support and resistance.

I go in and change the markers for Buying to above the bar and selling below the bar and also change arrow direction and colours to Blue above the Wyckoff Creek and Black falling through Ice concepts. The markers are quite good within a trend but be careful at very top or very bottom as obviously the price action at that point is not going further up or down for a while, although you might get a marker at that point}

jck:=Cross(C,Valuewhen(2,FRU));
[name=JCk; linestyle=marker; marker=Long;align=Above; ]
jck;

bki:=Cross(Valuewhen(2,FRD),C);
[name=BkIce; linestyle=marker; marker=short; align=Below;]
bki;


Edited by cmacdon - 12 Aug 2014 at 8:30pm

Niftg

The markers were scanable for both Jck and BKi yesterday before I posted the code.

What I just did was download the code from the forum and onto my computer and ran the scanner again to see nothing had changed in the upload process, and the scan did not produce any symbols meeting the scan criteria.

What I then did was update the daily data download and the scanner worked and picked up a number of symbols when sety to the marker sybol is true any day in last 3 days for the test. I think it is a quirk in BC as you sometimes have to update a snapshot to get a daily scanner to work so may be same thing happening.

So try updating your daily data and then run the scan again as it works a few minutes ago for both markers on my computer after the daily data download.

Charles