Hi I wonder if you could help me create an indicator that I use for determine if a stock goes sideways.
I would like to have an indicator that shows how many times the closing price has been touched in the last 30 bars before the current bar.
For example, if the closing price has touched five bars out of the last 30 bars, the indicator should show 5. The result could be shown in a histogram.
Thankful if you could help me
JSParticipant
Senior
Hi @Bryggare
Hereby the indicator…
Touched=0
For i=1 to 30
If Close[i] Crosses Over Close or Close[i] Crosses Under Close then
Touched=Touched+1
EndIf
Next
Return Touched as "Touched" Coloured("Green")Style(Histogram)
Thank you , it works fine
Hi again. It seems like the indicator compares to days range with previous close for the last 30 days. Can you change so that the close of the current bar compares with the hole range from high to low of the previous bars. For example the to days close compares if it has touched any of the last 30 days bars (from high to low).
JSParticipant
Senior
Hi,
This indicator compares whether the current Close falls between the High and the Low (Range) of the previous 30 candles…
Touched=0
For i=1 to 30
If Close<High[i] and Close>Low[i] then
Touched=Touched+1
EndIf
Next
Return Touched as "Touched" Coloured("Green")Style(Histogram)
Hi again, now it seems to work. When it is trending it is not touched so many times and when it is not trending it is touched many times.
Thank you for helping me
An other upgrade/version… Try with total price instead of close
src = customclose
Touched=0
For i=1 to 30
If src<High[i] and src>Low[i] then
Touched=Touched+1
EndIf
Next
Filtre = Average[5](Touched)
If Filtre < 5 then
ColR = 0
ColG = 128
ColB = 0
Else
ColR = 128
ColG = 128
ColB = 128
Endif
Return 1 as "Ranging Index" Coloured(ColR,ColG,ColB)Style(Histogram)
Little upgrade… The idea is not bad, but still not accurate as my main range detector.
src = customclose
Touched=0
For i=0 to 28
If src<High[i] and src>Low[i] then
Touched=Touched+1
EndIf
Next
Filtre = ExponentialAverage[2](Touched)
If Filtre < 5 then
ColR = 0
ColG = 128
ColB = 0
Else
ColR = 128
ColG = 128
ColB = 128
Endif
Return 1 as "Ranging Index" Coloured(ColR,ColG,ColB)Style(Histogram)
Thank you for the upgraded version. I will look on them and see which suits me best
