Up days and down days

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04/15/2024 at 7:09 PM #231556 quote

Participant

Junior

I would like to have an indicator with the following conditions.

If the closing price is up one day, it gives the value 1. If it is up two days in a row, it gives the value 2. If it is up three days in a row, it gives the value 3, and so on.

If the closing price is the same as the previous day, it counts as an up day if the previous day was an up day.

I would like to have an indicator that shows an average for the up days for the last 60 days. For example: If we have one where there is 6 up days in a row,and one where there is 4
 up days in a row and two where there is 2 up days in a row.  The indicator should show (6+4+2+2)/4 =3.5.

I would like a similar one for down days.

The result can be shown in a line chart where both the up days and the down days are shown in the same indicator with two different lines.

Thankful for help

04/16/2024 at 8:32 AM #231563 quote

Iván González

Moderator

Legend

Hi,
Here you have an example:

if close > close[1] then
up = up+1
dw = 0
elsif close < close[1] then
up = 0
dw = dw+1
else
up = 0
dw = 0
endif

avgUP = average[60](up)
avgDW = average[60](dw)

return avgUP as "Avg Up days" coloured("green")style(line,3),avgDW as "Avg Dw Days"coloured("red")style(line,3),up as "Up days" coloured("green",75)style(histogram),dw as "Down Days" coloured("red",75)style(histogram)

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