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Ask a Trainer - TC2000 version 12/18
Counting new highs
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.
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.