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Occurrence Since

by QuantShare, 3684 days ago
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This function detects the N-th occurrence of a condition since another condition. For example, since the crossover of MACD above zero, detect the first occurrence of the Stochastics going below 20. Basically, detects the first oversold after the change to bullish trends. The function parameters are:

OccurrenceSince(condition for since, condition of N-th occurrence, N-th)

Example:

a = cross(MACD(),0); //MACD crossing above 0
b = cross(20,StochSlowk(14,3,_MaSma); //Slow Stochastics crossing below 20
c = OccurrenceSince(a, b, 1); //after 'a=MACD bullish crossover', detect the 1st occurrence of 'b=Stochastics oversold'

Note that if N-th is input as '2', it would detect the 2nd occurrence of 'b' after 'a'.
If N-th is set to '0' then the function detects the 1st occurrence starting from the same bar where "condition for since" was detected. Otherwise (N-th set to 1), it starts detecting the first occurrence starting from the next bar.

This is particularly useful when we want further price criteria to be satisfied after a trend change signal in an indicator. For example, the first trendline breakout after a bullish divergence in an indicator. The bullish divergence is confirmed after the first breakout above the trendline.


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Type: Trading Indicator

Object ID: 1481


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Style:
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