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  5. Green Alpha Resistance Lookback Period [1-55]

Green Alpha Resistance Lookback Period [1-55]

It is always good if the breakout is from a lengthy period of consolidation. This field is responsible for the breakout line length.

But more importantly it is the number that goes in to the calculation for the Green Alpha. If the Green Alpha Close is lower than the x number of bars back highest close, it will not be considered as a valid breakout. So, no stop loss point will be drawn

If there is no Stop Loss drawn under the Green Alpha Candle, it shows that it failed to close above X numbers back. In this case it is just another Green Alpha Candle, but no valid breakout.

highestO = highest(open[1], input_GreenAlpha_Resistance_Lookback)
highestC = highest(close[1], input_GreenAlpha_Resistance_Lookback)

It can be changed from 4 to 55 and default value is 20.

This will have a big impact on the back testing as well as giving the BUY signals. BUY signals will appear if the Alpha Candle breaks this RESISTANCE Level. Example: if Green Alpha closes above the highest Open or Close for the n number of bars back, it will trigger a BUY signal

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