Registered User Joined: 3/7/2010 Posts: 168
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hi
i was looking for between 55% - 65% retracmt. from 1 mth low and the 1 mth range (21 trading days)
be less then 9.25 x current ATR ...thx
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Let's start with the 1 month range being less than 9.25 times the current 14-period ATR.
MAXH21 - MINL21 < 9.25 * ((AVGH14 - AVGL14) / 2 + (ABS(H - C1) + ABS(C1 - L) + ABS(H1 - C2) + ABS(C2 - L1) + ABS(H2 - C3) + ABS(C3 - L2) + ABS(H3 - C4) + ABS(C4 - L3) + ABS(H4 - C5) + ABS(C5 - L4) + ABS(H5 - C6) + ABS(C6 - L5) + ABS(H6 - C7) + ABS(C7 - L6) + ABS(H7 - C8) + ABS(C8 - L7) + ABS(H8 - C9) + ABS(C9 - L8) + ABS(H9 - C10) + ABS(C10 - L9) + ABS(H10 - C11) + ABS(C11 - L10) + ABS(H11 - C12) + ABS(C12 - L11) + ABS(H12 - C13) + ABS(C13 - L12) + ABS(H13 - C14) + ABS(C14 - L13)) / 28)
The retracement is a bit more complicated. We can check for price being 55% to 65% higher than the 1 month low as follows.
1.55 * MINL21 <= C AND C <= 1.65 * MINL21
But I'm guessing this isn't actually what you want.
A retracement is normally how much price has retreated in the opposite direction from the longer trend or leg of a longer trend. The percentage would usually be as a percentage of the trend on leg instead of being a percentage of the low or high at the start of the retracement.
So the question becomes how you want to calculate the range and direction of the primary trend or leg to use as the basis of the retracement percentage.
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