For weeks I am trying to define the last thing in my automated trading system. I use sierra chart and my trading system is based on excel. My strategy is based on market tension and is trying to predict market corrections. There is a rule that if the price came 0.25 - 0.5 points from a pivot point, didn't touch the pivot and a market correction at the size of 2 points or more occurred I will not go into position using this specific pivot point. But if after the correction - the price got 5 points away from the pivot and 15 minutes have passed since the correction took place I can use the pivot again. How can I define something like this? : \ can macros help me? How? Thank you very much in advance
I don't know a tom about pivot points, but my guess is with a lot of If/Then formulas. Build it is pieces. First work on getting the pivot points to be represented properly next to your data. then set up triggers for when stuff you are looking for happens.