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Anthony,
No, it doesn't, because the angles still depend on the unit of measure
for price, although they seem not to because you've developed a clever
workaround.
I changed "100" to "200" in your formulas for normalopen, normalclose,
normalhigh, and pricelow. This changed the price levels twofold and
also the angle measurements. That's critical for 2 reasons:
First, the normalized price levels (and therefore angle measurements)
depend on how much data is in the user's database because that
determines the price range used for normalization. So someone
applying the indicator with only 2 years of price data will get a
different number of degrees for the same pattern than someone with 3
or 15 years.
Second, the normalized price levels (and therefore angle measurements)
also depend on where a stock is trading now relative to the range of
that stock in the database. So the same pattern would yield different
angle readings if the stock is trading low in its range as opposed to
high, for instance.
Mark
--- In amibroker@xxxxxxxxxxxxxxx, "Anthony Faragasso" <ajf1111@xxxx>
wrote:
> Mark,
>
> Does this do it:
>
> //Normalize the Open,High,Low,Close
>
> priceopen = Open;
>
>
normalOpen=100*(priceopen-Lowest(priceopen))/(High
est(priceopen)-Lowest(priceopen));
>
> priceclose=Close;
>
>
normalclose=100*(priceclose-Lowest(priceclose))/(H
ighest(priceclose)-Lowest(priceclose));
>
> pricehigh=High;
>
>
normalhigh=100*(pricehigh-Lowest(pricehigh))/(High
est(pricehigh)-Lowest(pricehigh));
>
> pricelow=Low;
>
>
normallow=100*(pricelow-Lowest(pricelow))/(Highest
(pricelow)-Lowest(pricelow));
>
>
PlotOHLC(normalopen,normalhigh,normallow,normalclo
se,"",colorBlack,styleCandle);
>
> //----------------------------//
>
> //Automatic Support Trendline With Degrees
>
> //Anthony Faragasso, 2003
>
> x = Cum(1);
>
> per =Param("Percent",2,0.01,5,0.01);// Sensitivity setting
>
> s1=normalLow;//Array
>
> EndValue1 = LastValue( Trough( s1, per, 1 ) );
>
> startvalue = LastValue( Trough( s1, per, 2 ) );
>
> endbar = LastValue( ValueWhen( s1 == EndValue1, x, 1 ) );
>
> startbar = LastValue( ValueWhen( s1 == startvalue, x, 1 ) );
>
> aS = (EndValue1-startvalue)/(endbar-startbar);
>
> bS = EndValue1;
>
> trendline = aS * ( x -endbar ) + bS;
>
> //-----------------------------------//
>
> // Conversion Radians to Degrees //
>
> //-----------------------------------//
>
> pi=4*atan(1);
>
> time=endbar-startbar;
>
> myslope=LinRegSlope(trendline,time);
>
> myradian=atan(myslope);
>
> mydegree=myradian*(180/PI);//Degrees
>
> //-------------------------------------//
>
> //Plot(C,"close",colorBlack,styleCandle);
>
>
Plot(IIf(x>startbar-5,trendline,-1e10),"Trendline"
,colorYellow,styleLine);
>
> direction=WriteIf(mydegree >= 0 AND mydegree <= 0.99,"Flat
",WriteIf(mydegree > 0 ,"Rising ",WriteIf(mydegree < 0 , "Falling ",
"")));
>
> DirectionColor=LastValue(IIf(mydegree >
0,colorBrightGreen,IIf(mydegree < 0, colorRed,IIf(mydegree >= 0 AND
mydegree <= 0.99 ,colorYellow,Null))));
>
> Title=Name()+"..."+Date()+"\n"+"TRENDLINE is
"+EncodeColor(directioncolor)+direction+EncodeColor(colorBlack)+"at
"+"( "+ WriteVal(mydegree,1)+" )"+" Degrees"+"\n"+time+"
days"+"\n"+"Slope = "+WriteVal(myslope,1.2)+"\n"+"Radians =
"+WriteVal(myradian,1.2)+"\n";
>
>
>
> //plotting ( x, y ) grid
>
> Plot(startbar==x,"",colorRed,styleHistogram|styleOwnScale);
>
> Plot(ValueWhen(startbar==x,normalLow),"",colorRed,styleLine);
>
> //-----------------------------------//
>
> // Automatic Anlaysis window Output //
>
> //-----------------------------------//
>
> // Settings : //
>
> // n last quotations and n=1 //
>
> // explore //
>
> //-----------------------------------//
>
> Filter=mydegree > 0 OR mydegree <0;
>
> AddColumn(mydegree,"Degree",1);
>
>
>
>
>
> ---
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