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Hi
All,
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I am
trying to put some code together to pickup when a share starts to trade in a
very tight consolidation zone.
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The
basic scenario and from my own observation is that there are periods where by
the share price trades within the range of a candle from a few days
before.
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<SPAN
class=126535400-18102003>My current code is
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size=2>Ranging:=if(Sum(H>O or L<0,5)>3,1,0); ensure at least 3 of the
last 5 days have actually done something;
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size=2>Hg:=HHV(H,5);
<FONT face=Arial color=#0000ff
size=2>Lw:=LLV(L,5);
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<FONT face=Arial color=#0000ff
size=2>X:=Sum(H<=Hg and Lw>=Lw,5); Count number of days in the past 5 that
are within the range of the candle 5 days ago
<FONT face=Arial color=#0000ff
size=2>X:=If(X>=3 and <FONT face=Arial
color=#0000ff size=2>Ranging = 1,1,0);
<FONT face=Arial color=#0000ff
size=2>X;
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The
problem with this code, is that the Hg and Lw values don't remain constant and
neither does it remain constant if you use Ref(H,-5) and ref(L,-5). The problem
that this causes is that for each of the 5 sum calculations if looks back 5
periods ago and gets the value 5 periods ago, so for yesterdays price
it is actually looking back 6 days ago to get the HHV and LLV, which is exactly
what I don't want.
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Does
anyone know how to create a constant and or reprogram the above
code?
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Thanks
in advance.
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<FONT face=Arial color=#0000ff
size=2>Regards,
Tim
Hyder.
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