This is modified version of Dale Legan's "Confluence" indicator written by Gary Fritz.
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Here is Gary`s commentary:
Since the Confluence indicator returned several "states" (bull, bear, grey, and zero),
he modified the return value a bit:
-9 to -1 = Bearish
-0.9 to 0.9 = "grey" (and zero)
1 to...
This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
This modified strategy backtest from HPotter
I've been trying to put a stop loss in the High or Low of the last second bar after I open a position but in this example the only way to close it, is with the opposite action. Does anyone know how to put a stop loss and order with just stop loss and close when there is a bullish or bearish engulfing bar?
