Room to the left Screener

This is a concept from Walter Peters Ph.D. presented in his book Naked Forex. It looks for room to the left of the candle formations.
This screen will look if the C1 or C2 made a lower low or higher high since a number of configured sessions. For example, you may want to take only trades if they are the 52 sessions highs or lows.

 

Parameter Name Parameter Type Description Default value/allowed values
room_to_the_left_screener_first_candle_enabled boolean If the screener will consider the lower, or higher, of the two last candles or just the last Default value: false

Allowed values:

  • true
  • false
room_to_the_left_screener_second_candle_enabled boolean If the screener will consider the lower, or higher, of the two last candles or just the last. Default value: false

Allowed values:

  • true
  • false
room_to_the_left_screener_additional_range int If this high/low plus the additional range, is higher/lower than the previous high/low 0
room_to_the_left_min_count int What is the period, or number of candles 10
trading_time_frame_ma_screener_slow_ma int The fast Moving Average period 50

 

Examples

Buy Signal – Room to the Left South

For example, if the following parameters are configured:

  • room_to_the_left_screener_first_candle_enabled = true
  • room_to_the_left_screener_second_candle_enabled = false
  • room_to_the_left_screener_additional_range – 50
  • room_to_the_left_min_count = 4

This configuration will look for space to the left looking south.

First, we take the first candle, and add to its low the room_to_the_left_screener_additional_range, then we look left, counting how many candles have a lower low than current candle low + room_to_the_left_screener_additional_range. If there is at least 4 candles that have a lower low than current candle low + room_to_the_left_screener_additional_range, then the screen triggers a buy signal.

room_to_the_left_1

Sell Signal – Room to the Left North

For example, if the following parameters are configured:

  • room_to_the_left_screener_first_candle_enabled = true
  • room_to_the_left_screener_second_candle_enabled = false
  • room_to_the_left_screener_additional_range – 50
  • room_to_the_left_min_count = 4

This configuration will look for space to the left looking south.

First, you take the first candle, and subtract to its high the room_to_the_left_screener_additional_range, then we look left, counting how many candles have a high than less than current candle high – room_to_the_left_screener_additional_range. If there is at least 4 candles that have a high lower than current candle high + room_to_the_left_screener_additional_range, then the screen triggers a sell signal.

room_to_the_left_2