My mistake, indicator works as suggested. Thanks for the help Bruce.

Once a beginner, I would think that the first two replies were good starting points, look at a few things and realize I want to work directly with the charts and just pick up things as I went along. You read it all the time that this is the first trap. Don't fall into this trap, save your time and read up on money management, mind and method. Once you realize where those starting points originate from, you will be on your way. As a hint, I can point you in the direction that greatly improved my trading strategies and overall outlook. 

Two great books on the topics are Mark Douglas's Trading in the Zone and Dr. Alex Elder's Trading for a Living. I wouldnt even suggest getting close to a chart before reading these two once, maybe twice. I started paper trading in the beginning thinking that I would eventually move on to using real money and found myself thinking that it won't work until I just put money on the line and then it will be real so then I'll really learn the ropes. I kept hearing that paper trading isn't the same and that fear and greed don't become a factor so I jumped head first and you get kicked around, bouncing from stock to stock, indicator to indicator. Famous last words, crawl before you walk. Learn your trade, pun intended. 

Best of luck!

Thanks for the quick reply Bruce,

From what I can see, it seems as though there will be an averaging operation at the end of the formula (/2). The only thing I want the indicator to do is see the High of today - High of yesterday to equal 4 and the Low of yesterday - Low of today to be 1, hypothetically, and have the indicator plot the greater amount, 4. After say a ten day period of plotted numbers, I just want a 10EMA of the plotted numbers.

The plotted numbers would be set as a historgram and the EMA would be plotted to scale with the histogram. It would basically look like Volume plotted with an EMA, histrogram bars either above to show greater than normal activity or below, showing disinterest.

Any suggestions for this request would be much appreciated.

Hi,

Is there a way to create a custom PCF that calculates the greater of either (High of today - High of yesterday) or (Low of yesterday - Low of today)?

If so, is there also a way to create an EMA of the calculated data?

Thanks.

Hi,

Is it possible to create a PCF that calculates the greater of either (High of today - High of yesterday) or (Low of yesterday - Low of today)?

If this is possible, is there also a way to create an EMA of the calculated data?

Thanks