Rank: Newbie
Groups: Registered, Registered Users, Subscribers Joined: 7/2/2006(UTC) Posts: 3
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Hello,
I'm new to this forum so forgive me if this has been asked often before. I would like to create an Explorer study that will detect and sort securities according to when a security makes a new all-time high or new all-time low. It's basically a Gann thing.
Basically, it needs to look back on the entire data series, APART from the last bar, and determine that the latter has made a new all-time high or new all-time low.
I am unclear as to how to do this with the existing functions (e.g. Highest() ) since they seem to include the entire data array including the last datapoint under examination. Any help, advice, or code would be appreciated.
Regards,
Asoka
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers Joined: 7/2/2006(UTC) Posts: 3
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I obviously derive considerable inspiration from being on this this forum, because the answer seemed to come to me even as I was typing out the question!
Basically, the filter rule in Explorer is:
New All Time Highs: High=Highest(High)
New All Time Lows: Low=Lowest(Low)
Asoka
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users Joined: 10/28/2004(UTC) Posts: 3,111 Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Good work asokas!
You might want to consider, the situation where the stock is revisiting the previously existing high/low?? These will get caught in your code. You might want this, you might not?
If you want a NEW high or low, then consider:
New All Time Highs: H > Ref(Highest(H),-1)
New All Time Lows: L < Ref(Lowest(L),-1)
Be careful, the results of this code might not be the same in an indicator, as an exploration, as the system tester etc due to the number of data points loaded. Make sure you load the same number of data points into each aspect of MS to ensure the results are consistent.
Hope this helps.
wabbit :D
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers Joined: 7/2/2006(UTC) Posts: 3
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Yes, this is better. Thank you. Since I'll be visually inspecting the Explorer results, it won't make much difference to me either way. But yours is the better way to do it.
Asoka :D
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