DYO: Swings controlled by study signals

Q: Would it be reasonable to extend the Pesavento Pattern study so that anything can be used to determine the current trend? Maybe it could read the current trend from a global variable, instead of employing the built in computation that uses minSize and minBars. I would like to pass the current trend information “INTO” the Pesavento Pattern study. A “stochastic stop”, or “mav above/below”, or whatever could then be used instead of just the built in “minSize/minBars” trend change mechanism.

A: You do not need to fiddle with the Min Size and Min Bars. You just need to have the Pesavento Patterns operate on the other study, such as in this example on the Parabolic Stop. Work with the Data Point selection on the Pesavento Patterns property form.

Feedback: Thankyou so much for taking the time to explain that. I could have saved you that time if I had just sent you an image instead of words. Sorry. I would like price as the data point. But I want the swings to be controlled by the outside thing. Here is a mock up of what the swings might look like when controlled by a parabolic stop.

A: In my opinion what you have drawn is illogical. You have swing turns in Pesavento before you have Parabolic changes or signals. The Pesavento Patterns is a very complex logic it the first place and is not something that lends itself to receiving an outside control.

I suggest you investigate using a DYO to do your line drawing and I have put together this small example.

Line A tests K% crossing above %D, and when this is True, Line B will put in GV[3] the bar's Low as the value to plot.

Line C moves this flag from [1] to [2] because [1] will be reused by Line D and E which test for K% crossing below %D and storing the bar's high to plot.

Line F combines either of the two flags, ie crossing above or crossing below.

When either flag is True, Line G will plot a straight line from the last time and price it plotted to the current bar and price in GV[3].

The graph is able to plot a line to the current bar. You cannot have the plot be to some prior bar position when the condition is triggered on a particular bar. You can only plot to the bar that has the signal.