Average Highest Lowest indicator

• 01/10/2020 at 9:52 AM #116317
  Sever

  //Average value of Highest Close and Lowest Close ONCE HighestClose = Close[0] ONCE HighestMirrorClose = MirrorClose[0] // Calulate the highest close value IF Close >= Close[1] THEN IF Close >= HighestClose THEN HighestClose = Close ENDIF ENDIF // Calculate the difference between the highest close value and close DifHighestClose = HighestClose - Close // Mirror this difference in the highest close value MirrorClose = HighestClose + DifHighestClose // Calculate the highest mirror close value IF MirrorClose >= MirrorClose[1] THEN IF MirrorClose >= HighestMirrorClose THEN HighestMirrorClose = MirrorClose ENDIF ENDIF // Mirror or rotate the highest mirror close value in/with the highest close value LowestClose = HighestClose - (HighestMirrorClose - HighestClose ) // Average of highest close and lowest close MidHighestLowest = (HighestClose + LowestClose) / 2 DRAWTEXT("O", barindex, close)coloured(0,0,0) IF Close[0] >= MidHighestLowest THEN r=0 g=0 b=255 ELSE r=255 g=0 b=0 ENDIF RETURN Close coloured(r,g,b), MidHighestLowest

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  //Average value of Highest Close and Lowest Close   ONCE HighestClose = Close[0] ONCE HighestMirrorClose = MirrorClose[0]   // Calulate the highest close value IF Close >= Close[1] THEN IF Close >= HighestClose THEN HighestClose = Close ENDIF ENDIF   // Calculate the difference between the highest close value and close DifHighestClose = HighestClose - Close   // Mirror this difference in the highest close value MirrorClose = HighestClose + DifHighestClose   // Calculate the highest mirror close value   IF MirrorClose >= MirrorClose[1] THEN IF MirrorClose >= HighestMirrorClose THEN HighestMirrorClose = MirrorClose ENDIF ENDIF   // Mirror or rotate the highest mirror close value in/with the highest close value LowestClose = HighestClose - (HighestMirrorClose - HighestClose )   // Average of highest close and lowest close MidHighestLowest = (HighestClose + LowestClose) / 2   DRAWTEXT("O", barindex, close)coloured(0,0,0)   IF Close[0] >= MidHighestLowest THEN r=0 g=0 b=255 ELSE r=255 g=0 b=0 ENDIF   RETURN Close coloured(r,g,b), MidHighestLowest

   

  

  Sever

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  01/10/2020 at 9:57 AM #116368
  Nicolas

  Thank you Sever, that visually interesting. I moved your post into the forum to discuss about, could you explain a bit how do you calculate that middle line and how you are using it? It seems to be the middle line of highest/lowest Close but for the whole data available on the chart?

  

  Nicolas

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  01/10/2020 at 1:12 PM #116391
  Sever

  Yes Nicolas, it is the middle line of the highest close and lowest close for the whole data on the chart.

  You can use it as buy or sell border, gives also a good long term impression of the price range .

  It is most interessant if a price is moving in a range, so you have a good view of the market fluctuations.

  If you want you can adapt the code by setting a percentage above or beneath  the middle line as buy or stop limit.

  

  Sever

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