Registered User
Joined: 10/21/2004
Posts: 28
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Is there a way to create an indicator or sorts, that subtracts a specified number of ATRs from a max closing high?
For example, if I wanted to subtract 2 ATRs (based on a 14 day ATR) from the max closing high over the prior 20 trading days...BUT...I would only want the indicator to shift if a new closing high was logged, or if the 20 day period was eclipsed.
Let's say the closing high for the past 20 days is $50, the 14 day ATR is 1. I would like a horizontal line (or dots...makes no difference) that plots at $48 (2 ATRs beneath the 20-day closing high). On day 10, the stock closes at 51, and the 14 day ATR is still measuring 1. The horizontal line would shift from $48, up to 49.
Anyway...is this possible in TC?
Thanks.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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A version which would change whenever either the max high or the ATR changed is pretty simple in TC2000 v17.
MAXC20 - 2 * ATR14
But making it so it changes only when the MAXH20 changes (and not when the the ATR changes) is quite a bit more complicated.
IIF(MAXC20 <> MAXC20.1, MAXC20 - 2 * ATR14, IIF(MAXC20.1 <> MAXC20.2, MAXC20.1 - 2 * ATR14.1, IIF(MAXC20.2 <> MAXC20.3, MAXC20.2 - 2 * ATR14.2, IIF(MAXC20.3 <> MAXC20.4, MAXC20.3 - 2 * ATR14.3, IIF(MAXC20.4 <> MAXC20.5, MAXC20.4 - 2 * ATR14.4, IIF(MAXC20.5 <> MAXC20.6, MAXC20.5 - 2 * ATR14.5, IIF(MAXC20.6 <> MAXC20.7, MAXC20.6 - 2 * ATR14.6, IIF(MAXC20.7 <> MAXC20.8, MAXC20.7 - 2 * ATR14.7, IIF(MAXC20.8 <> MAXC20.9, MAXC20.8 - 2 * ATR14.8, IIF(MAXC20.9 <> MAXC20.10, MAXC20.9 - 2 * ATR14.9, IIF(MAXC20.10 <> MAXC20.11, MAXC20.10 - 2 * ATR14.10, IIF(MAXC20.11 <> MAXC20.12, MAXC20.11 - 2 * ATR14.11, IIF(MAXC20.12 <> MAXC20.13, MAXC20.12 - 2 * ATR14.12, IIF(MAXC20.13 <> MAXC20.14, MAXC20.13 - 2 * ATR14.13, IIF(MAXC20.14 <> MAXC20.15, MAXC20.14 - 2 * ATR14.14, IIF(MAXC20.15 <> MAXC20.16, MAXC20.15 - 2 * ATR14.15, IIF(MAXC20.16 <> MAXC20.17, MAXC20.16 - 2 * ATR14.16, IIF(MAXC20.17 <> MAXC20.18, MAXC20.17 - 2 * ATR14.17, IIF(MAXC20.18 <> MAXC20.19, MAXC20.18 - 2 * ATR14.18, IIF(MAXC20.19 <> MAXC20.20, MAXC20.19 - 2 * ATR14.19, IIF(MAXC20.20 <> MAXC20.21, MAXC20.20 - 2 * ATR14.20, MAXC20 - 2 * ATR14)))))))))))))))))))))
-Bruce
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Registered User
Joined: 10/21/2004
Posts: 28
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Thanks Bruce...
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