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Percent True Indicator when Stock Closes in upper 50% of daily range Rate this Topic:
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Posted : Saturday, July 15, 2006 5:01:50 PM
Registered User
Joined: 2/19/2006
Posts: 89
One of the best features I like on TC is the ability to obtain a percentage of time when an event occurs using the percent True Indicator. I am trying to use the same principle of when a stock in the S&P 500 closes in the upper 50% range of the daily range and how many times it has done so in the last 5 days.

I use 100 * ((C - L) / (H - L))>.50 as the percent true indcator with a smoothing average of 5
When I sort the indicator by actual value and then view them in descending order it has symbol DJ 3rd on the list with a sort value of 100% but looking at the chart I can clearly see that on 7/12 and 7/13(with in the last 5 days) the stock closed well under 50% of the daily range. Is there something I am doing wrong or not understanding?
Posted : Saturday, July 15, 2006 5:21:13 PM

Worden Trainer

Joined: 10/1/2004
Posts: 18,819
The 100* means you need this....

100 * ((C - L) / (H - L))>50

No decimal. You could also do this:

(C - L) / (H - L)>0.50

- Craig
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