CODEWITHSUNDEEP
pine-script
stefano introini
stefano introini

Reputation: 37

Indicator error - must use (max_bars_back) <Pinescript>

//@version=4 In the "for loop" piece of code "for i = index_cross to 50" (lines 22 - 24) I'm looking for the rsi[i] < oversold value. I have the "max_bars_back=50" but the script keeps giving me the indicator error: Pine cannot determine the referencing lenght of a series. Try using max_bars_back in the study or strategy function.

1   study("error max bars back", overlay=false, max_bars_back=50)
2
3   //input
4   oversold = input(30, title="oversold")
5   rsiLen   = input(14, title="rsi len")
6
7   //rsi and ema
8   rsi = rsi(close, rsiLen)
9   ema1 = ema(close, 21)
10  ema2 = ema(close,50)
11
12  //condition 1
13  cross=crossover(ema1, ema2)
14
15  //index of condition (used in the for loop)
16  index_cross = 0
17  if cross
18      index_cross := bar_index
19
20  //condition 2
21  bool rsi_valid = false
22  for i = index_cross to 50
23      if rsi[i] < oversold 
24          rsi_valid := true
25
26  //final condition and plot
27  a = rsi_valid == true ? 1 : 0
28  plot(a, color=color.white)

My goal with this script is to determine if "from the crossover to 50 bars before" the rsi has been < 30(oversold). Thank you for the support.

Upvotes: 0

Views: 1812

Answers (1)

vitruvius
vitruvius

Reputation: 21362

You actually don't need a for loop. You can use a different algorithm.

You can just use a counter and increment it whenever rsi is oversold and reset it otherwise. So, for each bar that has rsi oversold, you would do counter = counter + 1 and if at anytime it becomes overbought, simply counter = 0.

When your "cross" happens, look if your counter is > 50. That would mean that the during the last 50 bars rsi is oversold.

Algorithm:

var oversoldCnt = 0     // A counter for consecutive rsi oversold bars
oversoldCnt := iff(rsi < oversold, oversoldCnt + 1, 0)  // Increase the counter if rsi is still oversold, reset otherwise

Together with your code:

//@version=4
study("error max bars back", overlay=false, max_bars_back=50)

//input
oversold = input(30, title="oversold")
rsiLen   = input(14, title="rsi len")

//rsi and ema
rsi = rsi(close, rsiLen)
ema1 = ema(close, 21)
ema2 = ema(close,50)

var oversoldCnt = 0     // A counter for consecutive rsi oversold bars
oversoldCnt := iff(rsi < oversold, oversoldCnt + 1, 0)  // Increase the counter if rsi is still oversold, reset otherwise

//condition 1
cross=crossover(ema1, ema2)
bool rsi_valid = cross and (oversoldCnt > 50)

//final condition and plot
a = rsi_valid == true ? 1 : 0
plot(a, color=color.white)

I simplified your code, so the whole thing might not work as you wish but I hope the algorithm is clear. Let me know if you have any questions.

Upvotes: 1

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