Sequential

This Extension provides an implementation for a Sequential and Combo setup, and contains the following components:

Sequential Indicator

The Mode parameter controls whether the indicator will present a Sequential, Combo, or Strict Combo. The indicator provides two other parameters to control the Setup Count (default 9) and Countdown Count (default 13).

The value of the indicator at a particular bar returns the current state of the Setup/Countdown:

• 0.1 = Bullish price flip
• 0.5 = Buy Setup complete
• 0.75 = Buy Countdown cancel
• 1 = Buy Countdown recycle
• 2 = Buy Countdown complete
• -0.1 = Bearish price flip
• -0.5 = Sell Setup complete
• -0.75 = Sell Countdown cancel
• -1 = Sell Countdown recycle
• -2 = Sell Countdown complete

SetupCounts Indicator

The Setup Counts indicator returns the current state of the Sequential Setup counts. The default Sequential requires a Setup period where there are 9 consecutive bars where the closing price is lower/higher than the close of 4 bars ago.

SequentialCounts Indicator

The Sequential Counts indicator returns the current state of the Countdown, which occurs after Setup has completed. The default Sequential requires 13 bars where the closing price is lower/higher than the close of 2 bars ago.

Sequential Plot Style

The Extension also includes a custom Plot Style that renders the Sequential on the chart using vertical lines and bar annotations to document its state. Green colors are used to render Buy Sequentials, and red colors for Sell Sequentials. A vertical line denotes a completed Sequential Countdown, the bar will also be rendered with a large "13" annotation. A completed Setup is rendered with a dimmer vertical line and a "9" annotation.

Each bar of the Setup/Countdown is also annotated with its current count. Other bar annotations include "R" for recycles, "X" for deferred Sequentials, "#" for canceled Sequentials, and "F" for Bullish and Bearish Price Flips.