I am trying to identify stocks that are finding support on the xavg8. The only thing I can think of to do this is to have a set % that the low of the candle must be within in accordance to the moving average. For example:

abs(L-xavg8)<=xavg8*.001

Is there a better way to go about this? I find higher priced stocks have a lot more freedom with how far off the moving average they can be when I use a set percentage.

Thanks.

The trainers cannot give setting, interpretation or investment advice. That said, your idea seems pretty good. You could use the same concept to see if it happens across multiple bars:

ABS(L / XAVGC8 - 1) <= .001 AND ABS(L1 / XAVGC8.1 - 1) <= .001

You could also see if other traders have ideas by asking your question in the Stock and Market Talk forum.

PCF Formula Descriptions
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