Conditional Accumulator, by Omega Research 1996, accumulates a valve based on a condition. The user may change the condition, increment and start value. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Conditional Accumulator
No trading signals are given.
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//condition = default is (low moreThan prevHigh)
//increment = user defined, default is 1
//startValue = user defined, default is 0
//index = current bar number, LOE = less or equal
endIndex = getEndIndex() -1; value = startValue; for (i = 1; i LOE endIndex; i++) if (trendUp) prevHigh = high[i - 1]; low = low[i]; if (low moreOr= prevHigh) value = value + increment; else prevLow = low[i - 1]; high= high[i]; if (high lessOr= prevLow) value = value - increment; endIf Plot: value; endFor