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Joined: 2/1/2009(UTC)
Posts: 5
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Hi All,
I would appreciate your assistance with this basic Explorer. I want to confirm this formula does what I need it to do.
x:= 10; {number of weeks}
y:= 0.5; {range between high and low}
z:= 80; {percent of bars within range}
(Sum((H-L)<=y,x)/x)*100>=z
I need to scan over a number of days (daily bars - not weeks). For example, over a period of 60 days, 80% of that time, the daily range between the daily high price and daily low price is LESS THAN 50 points
Thank you very much in advance
George
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Rank: Advanced Member
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Joined: 10/29/2004(UTC)
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Location: Glastonbury, CT
Was thanked: 2 time(s) in 2 post(s)
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If you run your exploration on daily bars, the value of X only reflects 10 daily bars or only 2 weeks
If you run your exploration on weekly bars, the value of X will reflect 10 weeks
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 2/1/2009(UTC)
Posts: 5
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Hi henry1224, Thank you very much for your assistance. I'm still learning so just want to be sure. Does the last line of the code mean that the Explorer will find bars that have a daily range Less than OR Equal to 50 points? Appreciate your help Thanks very much Regards George
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/29/2004(UTC)
Posts: 1,394
Location: Glastonbury, CT
Was thanked: 2 time(s) in 2 post(s)
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what your exploration is telling you is, if a stock has a daily range of 50 points or less for 80 percent or more of the time , the exploration will show a result of 1 else 0
I think that you also have to differentiate between stocks that are cheap vs stocks that are higher in price, for that, I would look into the Rate of change indicator
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 2/1/2009(UTC)
Posts: 5
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Thank you again for your help and advice
Much appreciated
Kind regards
George
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