cBot to recognise pullback reversal

12 Jan 2019, 22:42cBot to recognise pullback reversal#1
seibertmposts: 2since: 11 Jan 2019

Hi, I'm new to algo coding, have been looking through the class reference and help sections, but haven't been able to find an answer. How could one go about coding a cBot that picks up on pullback reversals as entry signal? I suppose the logic would have to be something like

1. Spot a trend, eg with MA cross

2. Detect price reversal, eg closing prices higher in downtrend/lower in uptrend

3. reversal occurs when price resumes previous direction, eg takes out price of last 2 counterbars

I don't know, is it possible to code for something like that? All help or suggestions would be appreciated, thank you.

14 Jan 2019, 11:28#2
Panagiotis Charalampousposts: 1938since: 13 Jan 2017

Hi seibertm,

In principle, you can do this with cAlgo. However, you will first need to define what a pullback is for you. You should put down in detail what events consist a pullback e.g. three consecutive bars against the trend followed by two that follow the trend. After you do this, it would be easier to code your cBot. Another option is to contact a Consultant that could help you with setting your requirements and implementing your strategy.

Best Regards,

Panagiotis 


Head of Community Management at cTrader
15 Jan 2019, 20:31RE:#3
bienve.pfposts: 11since: 19 Sep 2018

seibertm said:

Hi, I'm new to algo coding, have been looking through the class reference and help sections, but haven't been able to find an answer. How could one go about coding a cBot that picks up on pullback reversals as entry signal? I suppose the logic would have to be something like

1. Spot a trend, eg with MA cross

2. Detect price reversal, eg closing prices higher in downtrend/lower in uptrend

3. reversal occurs when price resumes previous direction, eg takes out price of last 2 counterbars

I don't know, is it possible to code for something like that? All help or suggestions would be appreciated, thank you.

Hi, I'm a cbots programmer in cTrader. If you wish send me a private message to my facebook profile:
https://www.facebook.com/robertillo.saez 
Regards.