pinescript v4 Do not enter if there are six green candles before entering the position

Question

I'd like to make a code that won't entering the position in a situation like in the picture.

    greenCandle = barstate.isconfirmed and (close > open)
    
    sixGreenCandles = greenCandle[6] and greenCandle[5] and greenCandle[4] and greenCandle[3] and greenCandle[2] and greenCandle[1]

I don't know the code to count the candle before entering the position

(Except for the candles at the signal)

You don't need to check for `isconfirmed` if you are only checking previous bars or your strategy runs on bar's close. Also your code should work, there is no issue with that. — karatedog, Apr 19 '22 at 12:56

score 0 · Accepted Answer · answered Apr 19 '22 at 04:55

You can use the ta.barssince() function to figure out when the last red candle was. Then add a check whether this was less than 6 before the current bar. Use this condition together with your other buy conditions.

//@version=5
indicator("My script")

red_candle = (close < open)
since_last_red = ta.barssince(red_candle)
can_buy = (since_last_red[1] < 6)

plot(since_last_red)

pinescript v4 Do not enter if there are six green candles before entering the position

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