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Counting new highs Rate this Topic:
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Posted : Thursday, September 20, 2012 9:59:13 AM
Gold Customer Gold Customer

Joined: 7/28/2011
Posts: 14

Is there a way to create an indicator that counts how many new intraday highs/lows a stock has made on any one timeframe? Im trying to filter out stocks that have sharp moves up versus ones that have a consistent and steady move to them.

Posted : Thursday, September 20, 2012 10:12:20 AM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You could create a Custom PCF % True Indicator to test for a new high over some period of time. For example, you could use the following settings:

- Period: 50
- Average Type: Simple
- Boolean Formula: H > MAXH19.1

To return the percentage of the time that price made a new 20-bar high during the most recent 50-bars.

What you could not do is count the number of times there has been a new daily high on an intraday chart during the current trading day.

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