Filter rule up event
Marks bars where price sits more than 1% above its lowest close of the last 50 bars.
For each bar this takes the lowest close among the last k bars, counting the current one, and checks whether the close is more than up above that low (up is a fraction, so 0.01 means 1%). The output is a yes/no value per bar that stays true for as long as the close remains that far off its recent low. Despite the word event in the name, it is a level, not a single-bar cross, and with the defaults it never turned on across a sample month of SPY one-minute bars (20,160 bars).
How to read it
- Markers sit on candles where the close is above its recent low by the set margin.
- A run of consecutive markers is one stretch where that held; the first marker of a run is the bar where the bounce reached the margin.
- The chart does not show whether price keeps rising after a marker.
- At the defaults the sample month had no markers at all, so a quiet chart is the expected result, not a fault.
What it outputs
- Bounce above low
- True on each bar where the close is more than up above its lowest close over the last k bars, counting the current bar.
When it fires
On each bar where the close is more than up above the lowest close of the last k bars, counting this one. The moment means price has climbed off a recent low by the margin. The output stays on while that holds, so the first bar of a run is when the bounce reached the margin.
Settings
- k
- Bars in the low's window, including the current one. Longer windows reach lower lows, so more markers appear. Shorter windows track price and fire rarely. At 1 it never fires with a positive up.
- up
- The bounce above the low, as a fraction (0.01 is 1%). Raising it makes markers rarer; lowering it lets smaller bounces count. At zero or below it is on for almost every bar, so those values tell you nothing.
Pitfalls
- It never fired at the defaults in a month of SPY one-minute bars, and its mirror filter_rule_down_event was active on only 23 of 20,160 bars, so both legs are rare at default settings.
- The name says event, but the output is a level: one bounce can mark dozens of consecutive candles, so count runs, not markers.
- With up at zero or below the output is on almost every bar, because the close is never below its own window low.