can somebody please explain me in english, In This Code(mentioned below) what conditions writer is using to make entry and exit, please help on what conditions writer has designed to make entry and exit.
_SECTION_BEGIN("Price");
SetBarsRequired(100000,0);
GraphXSpace = 15;
SetChartOptions(0,chartShowArrows|chartShowDates);
SetChartBkColor(ParamColor("bkcolor",ColorRGB(0,0, 0)));
GfxSetBkMode(0);
GfxSetOverlayMode(1);
//SetTradeDelays(1,1,1,1);
SetPositionSize(100,spsShares);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
_SECTION_END();
NHours=Param("Number of Hours",30,1,50,1);
HoursC=TimeFrameGetPrice("O",inHourly,0);
NHoursDHLAvg=0;
for(i=1;i<=NHours;i++)
{
HourH=TimeFrameGetPrice("H",inHourly,-i);
HourL=TimeFrameGetPrice("L",inHourly,-i);
NHoursDHLAvg=NHoursDHLAvg+(HourH-HourL);
}
NHoursDHLAvg=NHoursDHLAvg/NHours;
TenDHLAvg= NHoursDHLAvg;
Buy= C>((HoursC)+((0.618)*(TenDHLAvg)));
Sell= C<((HoursC)-((0.618)*(TenDHLAvg)));
Cover= C>((HoursC)+((0.382)*(TenDHLAvg)));
Short= C<((HoursC)-((0.382)*(TenDHLAvg)));
Buy=ExRem(Buy,Short);
Short=ExRem(Short,Buy);
Sell=ExRem(Sell,Cover);
Cover=ExRem(Cover,Sell);
BuyPrice=ValueWhen(Buy,C);
SellPrice=ValueWhen(Sell,C);
ShortPrice=ValueWhen(Short,C);
CoverPrice=ValueWhen(Cover,C);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0,L, Offset=-50);
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Short, shapeDownArrow, shapeNone),colorDarkRed, 0, H, Offset=40);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorDarkRed, 0,H, Offset=50);
PlotShapes(IIf(Short, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorDarkRed, 0,H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorDarkRed, 0,H, Offset=50);
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
PlotShapes(IIf(Cover, shapeUpArrow, shapeNone),colorGreen, 0,L, Offset=-40);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorGreen, 0,L, Offset=-50);
PlotShapes(IIf(Cover, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
SetPositionSize(300,spsShares);
ApplyStop(0,1,10,1);
//-----------end--------------
Long=Flip(Buy,Short);
Shrt=Flip(Sell,Cover);
Edc=(
WriteIf (Buy , " BUY at "+C+" ","")+
WriteIf (Sell, " SEll at "+C+" ","")+
WriteIf (Cover , " Sell Stop at "+C+" ","")+
WriteIf (Short , " Buy Stop at "+C+" ","")
);
_SECTION_END();
BarColors =
IIf(BarsSince(Buy) < BarsSince(Short)
AND BarsSince(Buy)!=0, colorGreen,
IIf(BarsSince(Sell) < BarsSince(Cover)
AND BarsSince(Sell)!=0, colorRed, colorWhite));
//Plot the Candlestick charts
Plot(C, "Close", BarColors, styleNoTitle | ParamStyle("Style") | GetPriceStyle() ) ;
for( i = 0; i < BarCount; i++ )
{
//if( Buy ) PlotText( "BUY@" + C[ i ], i, C[ i ], colorWhite, colorBlue );
//if( Sell ) PlotText( "SELL@" + C[ i ], i, C[ i ], colorWhite, colorViolet );
// if( Cover ) PlotText( "Sell Stop@" + C[ i ]+ "\nSell Profit= " + ((SellPrice-CoverPrice)), i, L[ i ]-3, colorLightGrey, colorBlack );
//if( Short ) PlotText( "BuyStop@" + C[ i ]+ "\nBuy Profit= " + ((ShortPrice-BuyPrice)), i, H[ i ]+3, colorLightGrey, colorBlack );
}
_SECTION_BEGIN("Background text");
C11=ParamColor("up panel",colorBlack );
C12=ParamColor("dn panel",colorBlack );
C13=Param("fonts",20,10,30,1 );
C14=Param("left-right",2.1,1.0,5.0,0.1 );
C15=Param("up-down",12,1,20,1 );
Miny = Status("axisminy");
Maxy = Status("axismaxy");
lvb = Status("lastvisiblebar");
fvb = Status("firstvisiblebar");
pxwidth = Status("pxwidth");
pxheight = Status("pxheight");
GfxSetBkMode( 0 );
GfxSetOverlayMode(1);
GfxGradientRect(0,0,pxwidth, pxheight, C11, C12 );
GfxSelectFont("Tahoma", Status("pxheight")/C13 );
GfxSetTextColor(colorBrown);
GfxSetTextAlign( 6 );
//GfxTextOut( "LTP "+WriteVal(C,1.2), Status("pxwidth")/C14, Status("pxheight")/C15);
GfxSelectFont("Tahoma", Status("pxheight")/C13*0.5 );
GfxSetTextColor(colorBrown);
GfxSelectFont("Tahoma", 20, 800, False, False, 0);
GfxSetTextColor(colorYellow);
GfxTextOut(""+edc+"", Status("pxwidth")/1.15, Status("pxheight")/C15*0.3 );
please help........
just explain entry and exit conditions in english , request