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SIGNAL_CONFIRMATION | JedeyeForex

SIGNAL_CONFIRMATION

JedeyeFX Documentation

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SIGNAL_CONFIRMATION

Under normal conditions, whenever JedeyeFX checks the conditions you set in your strategy and they are considered true, it proceeds with the actions it should take, usually opening or closing orders (it depends on which input the conditions are written in). Sometimes, usually due to the nature of the market volatility, there is the need to confirm several times in a row that the signal triggered by those conditions is true in order to avoid fake signals.

For example, consider the following condition: iMACD(LINE)>iMACD(BAR). Consider also that the current market is going through an high oscillating period, with lots of up and downs. Since MACD indicator averages are slow with respect to what’s really happening in the present, you may want to check the same signal twice in a row before do something like opening or closing an order. SIGNAL_CONFIRMATION function allows that, by telling JedeyeFX that the set of conditions it is reading should be verified true a certain number of times consecutively. For example, say you define that conditions need to be confirmed two times to open a buy order. If in the first check, all the conditions are true, and in the next check the expert advisor considers them false, the counting restarts from 0. This means, that from this point, another two checks are needed to be verified true, consecutively, without any false signals in between.

In order to reduce false positive signals, this function allows another two parameters to be set, being them a minimal pips difference between the current signal and the last one as well as the reference point to attend to. Setting both this parameters will make the expert advisor ignore unreliable signals, resetting the already counted ones in the signal confirmation process.
 

Syntax
signal_confirmation(confirmation_count;reference_point;min_pips_difference)​​!
Parameters confirmation_count Number of times in a row (consecutively) the conditions must be considered TRUE by JedeyeFX before proceeding with the event which they are attached to (depending on the input they are defined in) like the opening or closing of orders.
reference_point
(optional)
This parameter is optional and works together along with the min_pips_difference parameter. It is used to set a reference point where the minimum pips difference calculation should be considered from. It is a conditional reference point and supports the keywords mentioned below.
ABOVE_OPEN_PRICE Tells JedeyeFX that the price where the new signal is valid must have at least min_pips_difference pips above the open price of the chart’s bar where the last signal was verified true.
BELOW_OPEN_PRICE Tells JedeyeFX that the price where the new signal is valid must have at least min_pips_difference pips below the open price of the chart’s bar where the last signal was verified true.
ABOVE_CLOSE_PRICE Tells JedeyeFX that the price where the new signal is valid must have at least min_pips_difference pips above the close price of the chart’s bar where the last signal was verified true.
BELOW_CLOSE_PRICE Tells JedeyeFX that the price where the new signal is valid must have at least min_pips_difference pips below the close price of the chart’s bar where the last signal was verified true.
  min_pips_difference
(optional)
Defines the minimum number of pips from the chart's bar of the last valid signal to the current one.
Single-sided Yes
Example signal_confirmation(3;ABOVE_CLOSE_PRICE;10)!
This example will make the expert advisor wait for 3 consecutive valid signals where the close price of the current chart’s bar at each new signal check is always equal to or greater than 10 pips in relation to the close price of previous signal chart’s bar.
signal_confirmation(3)!
Unlike the previous example, this one will make the expert advisor wait for 2 consecutive valid signals, without taking into account price differences between the bars where each check occurs.