Lookback Bars for TrendSetup & BarSetup

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The 'Lookback Bars for TrendSetup & BarSetup' parameter allows you to specify the number of previous bars to consider for calculating 'TrendSetup' and 'BarSetup' parameters.

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This setting is crucial for accurately establishing the trend before your Candlestick, ensuring your analysis is grounded in recent market movements.

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TrendSetup — Trend Size

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The 'TrendSetup' parameter allow you to establish a trend before your candlestick.

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First, choose from the dropdown whether you need an 'UpTrend' or 'DownTrend'. Then, select from the second dropdown if you wish to specify the trend size in 'Ticks' or '%Change'. Finally, decide if you want to enter a minimum and/or maximum value interval for the trend size in ticks or percent change.

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Note: This setting is linked to the 'Lookback Bars for TrendSetup & BarSetup' calculations only for the Candlestick #1. For the TrendSetup of candlestick #2, the trend is established on the bars that are between candlestick #1 and candlestick #2.

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Note: For the DownTrend option, there is no need to enter negative values. You can set the minimum and maximum values in the same way as for an UpTrend. Simply specify positive values for both Minimum and Maximum, and the system will automatically handle the conversion for downtrend scenarios. And don't forget that the minimum value should always be less than the maximum value.

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Example for an UpTrend: Min = 3 and Max = 10.

Example for a DownTrend: Min = 5 and Max = 20.

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BarSetup — Bars Positioning

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The 'BarSetup' parameter allow you to position the bars before your Candlestick, either above and/or below the OHLC prices of your Candlestick, offering flexibility in setting up your trading strategy.

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The number of bars positioned into this setup is determined by the values set in the 'Lookback Bars' Calculation only for BarSetup of Candlestick #1. For the BarSetup of candlestick #2, the positioned bars is established on the bars that are between candlestick #1 and candlestick #2..

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This setting enhances the accuracy of establishing the trend before your candlestick by positioning the bars in the most precise manner, ensuring the desired pattern is accurately captured.

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Note: Configure and position the bars as though composing a sentence.

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