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Registered User
Joined: 2/2/2005
Posts: 14
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please walk me through formating an indicator consisting of 52 week high and 52 week low.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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We would need to more details on how you want the 52-Week High and 52-Week Low incorporated into your indicator to help you write it. One of the simplest possibilities would be to place spikes on the chart for a 52-Week High or Low.
Select Chart Template | Add Indicator | Indicator
- Visible: Checked
- Center Zero Line: Checked
- Plot using price scale: Unchecked
- Smoothing Average: Up to you
- Average Type: Up to you
- Indicator Formula: (L = MINL252) - (H = MAXH252)
With a Smoothing Average of 1, it will just spike up for a New High and Down for a New Low. Increasing the Smoothing Average and using a Simple Average Type will create an Indicator that counts the number of New Highs during the Average Period and divides it by the Average Period (you could multiply the formula by the average period if you wanted an actual count). Increasing the Smoothing Average and using an Exponential Average Type will create an Indicator that increases with New Highs and decreases with New Lows and decays towards zero.
You may wish to review the following:
Plotting Custom Indicators with Examples
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Worden Staff
Joined: 10/7/2004
Posts: 218
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I'm helping the user with the Indicator formula. Am I correct you meant it to be "(L - MINL252) - (H - MAXH252)"?
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Registered User
Joined: 2/2/2005
Posts: 14
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TO BRUCE: THANK YOU FOR YOUR ATTEMPT AT THE 52 WEEK HIGH AND 52 WEEK LOW. IT DID NOT WORK. WHEN I CHANGED THE EQUALS SIGHN TO A MINUS SIGN IT DID WORK. THE OTHER QUESTION IS WHY? AND THE OTHER QUESTION IS HOW MAY I INTERPRET THE RESULTING RESULT OF THIS INDICATOR TO HELP IN TRADING A STOCK?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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2000tc,
Bruce only guessed what you were looking for.
What are YOU trying to do with this indicator??
Your original post was vague. Elaborate what you are hoping to see in an indicator so we can build it for you. What you have now is an indicicator that plots:
the difference between the low and the lowest low and the high and the highest high. What you see now is a wierd variation on a stochastics-like indicator.
- Craig
Here to Help!
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