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Number of Consecutive Trading Bars Condition was True

by Caleb, 2951 days ago
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This function calculates the maximum number of consecutive bars that a condition was true in the past N-bars. The function name is "MaxConsecutiveBars" and it has two parameters: Condition and period.

As an example, if we use this function with "close > sma(30)" condition and 100 as a lookback period, the function will return, for each bar, the longest period where price was above its 30-bar simple moving average in the past 30 bars.

Other examples:

rule = MaxConsecutiveBars(close > open, 50);
Returns the maximum consecutive number of times the stock or asset closed up in the past 50 days.

rule = MaxConsecutiveBars(volume > ref(volume, 1), 100) < 4;
Returns true if the volume didn't increase more than 3 times in a row during the past 100 days.

rule = MaxConsecutiveBars(close > sma(30), 30) == 30;
Returns true if price was above its moving average in the last 30 days. This trading formula is equivalent to: istrue(close > sma(30), 30)

rule = MaxConsecutiveBars(rsi(14) > 70, 60) < 3;
In the past 60 days, the Relative strength index (RSI) never stayed above level 70 more than 2 days/bars in a row.


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Type: Trading Indicator

Object ID: 1050


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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.