Can an Indicator be created, that will plot day to day on a price chart,  the higest high and lowest low of the last 20 days? When I use ( C > MAXH20.1) as a condition it returns accurately as expected but  using MAXH20.1 as a formula for an indicator the returned plot is not at all correct.

I would just add Donchian Channels to the chart.

Using MAXH20.1 will in fact plot the highest high of the 20 bars ending 1 bar ago. If it does not look correct, it is most likely because the Custom PCF Indicator being used is not being scaled with Price History. You can click on the Custom PCF Indicator and select Scaling to set the Custom PCF Indicator to scale with Price History.

Adding and Moving Indicators

Hi Bruce,

I am looking to find a significant low 75 bars ago which was at least the lowest 30 day low at that point in time.

Sofar, I tried:

L75 = MINL75 or L74 = MINL75 or L73 = MINL75 or L72 = MINL75, etc. etc. but this scan does not give me significant lows, meaning monthly or greater lows.

I saw your post on 1/7/2004 regarding the Donchian Channels and added them to my chart with the default 50 period setting, but am not sure how I could use that to find this type of low.

Woud MINL75.1 be a way to specify this? Afte I get the 75 day (significant) low sorted out, I need to d an 85 day vesion.

May thanks for your help.

Chis

I'm not exactly sure what you are trying to identify. If you just want to check if the low of 75 bars ago was the 30 bar low at the time.

L75 = MINL30.75

But it seems like you are trying to do something more complicated than this based on the formula you suggested and the possibility of using Donchian Channels as part of the ultimate solution.

Hi Bruce,

Thanks for your info. I need to identify a significant low (i.e. 1 or 2 month low) 75 days ago. I have scanned with L75 = MINL30.75, but the lows I'm seeing are typically not 75 (trading days/bars) ago. Example: DLR has a low on 9/15/2016. But if we take 12/29/16 as today minus 75 days (excluding weekends=32 days, and public holidays= 4 days), I get a date of 9/9/2016 which is 4 days earlier than the DLR low scan result.

What I forgot to mention is that this 75 day prior low should also be lower than subsequent lows over the next 30 tradng days (or bars). So a subsequent low from -74 to -45 must be a higher low than the one which occured 75 bars ago.

Sorry about the omission. Best regards & thanks!

Chris

Hi Bruce,

I just tried ths as an experiment and the scan results look better:

L75 = MINL30.75 and MINL25.45 > MINL30.75

What do you think?

Chris

That seems like a pretty good solution. If you want the lowest low to be exactly 75 bars ago with 30 higher lows on both sides.

MINL30.45 > L75 AND L75 < MINL30.76

But if you just want say a 10 bar span in the middle to have the lowest value you can do something like the following instead.

MINL10.65 = MINL70.35

Thanks very much, Bruce - I'm glad you gave the altenative formula as well.

Just to be sure I don't have a mental block today, would this adaptation be correct for scanning

for the 85 bar low (versus the 75 bar low above)

MINL30.55 > L85 AND L85 < MINL30.86

alternatively:

MINL10.75 = MINL80.45

Kind regards,

Chris

The first formula looks good.

For the second formula you would probably want to use MINL70.45 instead of MINL80.45, but it would just mean comparing the middle 10 bars to 30 bars after and 40 bars before instead of 30 bars after and 30 bars before if you use 80 instead of 70.

Thank you so much, Bruce - I appreciate all your help!

You're welcome.