Trading signal: take a position on a bullish break-out

Description

This signal was created by Eric Lefort, the famous French author and trader. It enables to take a position when quotes cross a bearish- or horizontal line upwards. This signal is exclusively bullish.

Category	: Trend reversal and trend resumption
Components	: Trend line
Time frame(s)	: All
Usable for buy signals	: Yes
Usable for short sell signals	: No

This signal seeks to trace black downward- or horizontal trend lines between two peaks on quotes, following precise and configurable criteria. When a trend line is validated, a green line is traced over a certain number of periods.

The parameters are set by default to offer as many trend lines as possible. It is recommended to show the signals on a chart and then to play with the parameters below in order to learn how to select the type of trend line:

StartTime	: Start of the period of activation of the signal (ex.: 900 for 9 a.m.)
EndTime	: End of the period of activation of the signal (ex.: 1845 for 18.45 p.m.)
MessageBox	: 1 = send a message when a signal appears
PlaySound	: 1 = play a sound when a signal appears
SendEmail	: 1 = send an email when a signal appears
Smooth	: Number of bars needed to form a peak
Mini	: Minimum number of bars between two peaks
Maxi	: Maximum number of bars between two peaks
Prolong	: Number of bars to form a green line
MaxHighInclination	: Maximum inclination of the line
MinHighInclination	: Minimum inclination of the line
EntryStrategy	: 0 = no entry, 1 = entry if break-out on close, 2 = entry at the close of the candle if the break-out takesplace during the candle
DifferEntry	: Entry delayed by this amount of bars

When to open a position?

A buy signal is triggered if the price closes above the green line after an upward cross. A signal is identifiable by the presence of a vertical grey band.