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Hi all,
has anyone developed a trading range formula that works? The best I could do is this
Period = Param("Period", 10, 1, 100, 1);
VolRange = Param("Volatility Range", 2, 0, 5, 0.5);
Width = VolRange *ATR(20)/C*100;
tr = (Ref(HHV(H,Period),-1) < C*(1 + Width/100)) AND
(Ref(LLV(L,Period),-1) > C*(1 - Width/100));
trPerc = IIf((Ref(HHV(H,Period),-1) < C*(1 + Width/100)) AND
(Ref(LLV(L,Period),-1) > C*(1 - Width/100)), (C -
Ref(LLV(L,Period),-1))/(Ref(HHV(H,Period),-1) - Ref(LLV(L,Period),-1))*100, 0);
bkup = IIf((Ref(tr,-1) == 1) AND (C > Ref(Ref(HHV(H,Period),-1),-1)), 100, 0);
bkdown = IIf((Ref(tr,-1) == 1) AND (C < Ref(Ref(LLV(L,Period),-1),-1)), 100, 0);
GraphXSpace = 2;
Plot(trPerc, "TRADING RANGE ( " + WriteVal(Width, 1.0) + " % )", colorBlue,
styleHistogram | styleThick);
Plot(bkup, " BKUP", colorGreen, styleHistogram | styleThick);
Plot(bkdown, " BKDOWN", colorRed, styleHistogram | styleThick);
Plot(10, "", IIf(tr, colorLightOrange, colorWhite),
styleOwnScale|styleArea|styleNoLabel, -1, 100 );
I didn't find a way to plot it from what it's considered trading range start.
Any suggestion is welcome
Franco
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