Conditional Accumulator

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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Calculation

//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