Consecutive Downs SE#

This strategy captures downtrends by counting consecutive down bars. When the number of consecutive declining bars meets a configurable threshold, it enters a short position at the market open of the following bar.

Source Code#

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[IntrabarOrderGeneration = false]
Inputs: Price(Close), ConsecutiveBarsDown(3);

If Price < Price[1] Then
  Value1 = Value1 + 1
Else
  Value1 = 0;

If Value1 >= ConsecutiveBarsDown Then
  Sell Short ("ConsDnSE") next bar at market;

Code Walkthrough#

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[IntrabarOrderGeneration = false]

Ensures that only one order is generated per bar; orders are placed only when the bar is complete.

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Inputs: Price(Close), ConsecutiveBarsDown(3);

• Price: The price series used for comparison; defaults to the closing price.
• ConsecutiveBarsDown: The required number of consecutive down bars before a short entry is triggered; defaults to 3.

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If Price < Price[1] Then
  Value1 = Value1 + 1
Else
  Value1 = 0;

Compares the current bar’s price to the previous bar’s price. If the price declined, the counter Value1 increments by 1. If not, the counter resets to 0.

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If Value1 >= ConsecutiveBarsDown Then
  Sell Short ("ConsDnSE") next bar at market;

Once the counter reaches or exceeds ConsecutiveBarsDown, a market short sell order is submitted for the next bar’s open.