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Category
Multi-Bar Functions
Description
Count bars until a condition will be true
Syntax
UntilTrue(condition, count {0}) {WARNING: looks ahead}
Parameters
condition - data series formula
count - bar count formula (optional)
Notes
Condition will be evaluated for the most recent bar first, then proceed forward in time until a non-zero value is found or count bars have been checked, whichever comes first.
For each bar, condition is evaluated as if that bar were the current bar, i.e. without knowledge of future splits relative to that bar.
If count is omitted then there is no maximum (all bars after this one are potentially checked).
If condition never becomes true, the return value is -1.
If condition is currently true, the return value is 0.
If condition will be true tomorrow, the return value is 1, and so on.
Since this function looks into the future, it should generally not be used with price data in a backtest.
The most likely usage scenario would be date-related, e.g. UntilTrue(Month <> Month[1]) to count the number of remaining trading days this month.
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