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PLA DYNAMICAL PLOT TO HIGHLIGHT IF ABOVE OR BELOW CLOSE
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I am happy with the precision decision index indicator, I was wondering if you could modify the PLA Dynamical GOLD indicator,
Instead of seeing the moving average line, would it be possible for a green or red ball to form when price closes above or below the moving average used.
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Yes, the code is below.
First of all open up Tradestation development environment, then click on file > new > indicator
Paste this code into it and click on compile
After you add the indicator to the chart, you can set the style to "point" and weight to the maximum to make the big ball.
Set scaling to same as instrument.
This code will work as long as your current license is valid as it is calling the PLA Dynamical GOLD function.
Please be aware if you use this method as a trade entry method, it will give signals earlier, but will generate more whipsaw trades.
Sometimes if the market makes a move and doesn't come back then it will give you the signal ahead of the crowd.
// Sample code to highlight PLA Dynamical if close is above or below it
inputs:Price(c),Length(60),Speed(80),Overshoot(1),Anti_reverse(0),Anti_rev_per(0.01),Upcolour(green),Dncolour(red);
vars: pla2(c);
pla2= PLA_D_GOLD_Func_v1.00(length,price,speed,overshoot,anti_reverse,anti_rev_per);
if pla2< CLOSE then setplotcolor(1,upcolour);
if pla2> CLOSE then setplotcolor(1,dncolour);
plot1(pla2,"PLA_DynamicalGOLD");
// end of sample code
