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Maybe it's late and my mind is fuzzy, but why doesn't this give a value that never drops?
x:=if(C>ref(c,-1),C,ref(c,-1));
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/6/2010(UTC)
Posts: 113
Location: London
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It doesn't drop if this bar is less than the previous bar and the previous bar is above the one before, but if you have more than one bar down (e.g. 2 or more in a row) it will go down.
To give you an example on the Dow Jones Industrial Average:
Your indicator
17 Feb 11 12,318.14
18 Feb 11 12,391.25 (+73.11) 12,391.25
22 Feb 11 12,212.79 (-178.46) 12,391.25
23 Feb 11 12,105.78 (-107.01) 12,212.79 (-178.46)
24 Feb 11 12,068.50 (-37.28) 12,105.78 (-107.01)
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