Box price

[Apprentice]

Everything is clear, unfortunately I have not had time to work on this.

[Alexander.Gettinger]

I am looking for 2 horizontal lines. The user sets the distance between the 2.
The lines move like trailing stops. For example, when price moves up through the high line, both lines begin to move up. When price reverses off the high line, the lines do not move until price moves either up through the high line or down through the low line.
Does this clarify my request? Thank you.

I hope I understand you correctly.

BoxPrice2.lua

(3.27 KiB) Downloaded 854 times

[Panther]

Hi Alexander .
Imagine a dynamic trailing stop of 20 pips, and price is moving up. The DnLine is the trailing stop. The UpLine remains 20 pips above the DnLine. As price moves up the lines move up. When price reverses the lines do not move. When price moves down, and hits the DnLine, then the UpLine acts like a dynamic trailing stop. The distance between the lines stays the same.

In this example, the start calculation is 10 pips above and 10 pips below current price. The lines do not move until price contacts one of the lines. At that time, action is like a dynamic trailing stop.
Movement is on a tick by tick basis (not close of candle). Thanks

[Panther]

Apprentice, is Alexander working on this, or are you able to?

[nazaar]

This is another brilliant trading tool!

There is another trading tool called breakout combining elements of box price with the breakout indicator could be very useful. see breakout here: viewtopic.php?f=17&t=966

from the break out high and low line please give the user the option to draw a horizontal line X pip above and below.

thanks and great work as always!

[nazaar]

Panther, I have two questions for you. How do you want to determine the height of the box. From High to Low, Standard deviation, set by user (in pips) or another. Is it limited in time.

Hello,

May I suggest, one possible way to determine the height of a box is to add the ruler tool to the rectangle/box tool. If adding the ruler to the rectangle box is possible you can then draw the height of your box to any level you choose and then be able to place it anywhere you want as a starting level.

thoughts?

[Panther]

Everything is clear, unfortunately I have not had time to work on this.

Nazaar, I am not aware of any issues per Apprentice's reply. Thanks, Panther

[Apprentice]

Nazaar, Your request is added to the development list.

[Victor.Tereschenko]

Hi Alexander .
Imagine a dynamic trailing stop of 20 pips, and price is moving up. The DnLine is the trailing stop. The UpLine remains 20 pips above the DnLine. As price moves up the lines move up. When price reverses the lines do not move. When price moves down, and hits the DnLine, then the UpLine acts like a dynamic trailing stop. The distance between the lines stays the same.

In this example, the start calculation is 10 pips above and 10 pips below current price. The lines do not move until price contacts one of the lines. At that time, action is like a dynamic trailing stop.
Movement is on a tick by tick basis (not close of candle). Thanks

Try this version. It acts like a dynamic trailing stop.

[Panther]

Change to BoxPrice3.lua- I wish for the lines to stay in the same relative position to each other.
Once price contacts one line, both move in the same direction until price reverses.
When price reverses, the lines do not move again until price touches the opposite line.
At that point the lines move in the opposite direction.
Thanks