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Werner,
thank you for your very helpful answer!
I am now trying to create the indicator like you said.
I have two small additional questions..
In AB help, under AddtoComposite, it says "so it is now allowed to
join scan and indicator into single formula".
I wonder what this could be for?
As I understand it, you must run a scan everytime you want
to "update" this indicator. Or am I wrong?
I am also thinking, what if you have a database from many
different exchanges, and want to calculate new highs/lows
separately on every exchange. For example, if I have data
from the Swedish, Norwegian and Danish stock markets.
Do I then need to have 3 different indicators in my layout
(and running 3 different scans)? I dont want a "composite"
indicator for new highs/lows on all these exchanges in one
indicator window.
Just some small thoughts.. Hmm, I am really not
fluent in AFL..
/Jens.
>
> Jens,
> first you must decide what timeframe you want to use.
> Let's assume you want the number of new lows for a 100-day period.
>
> Then something like this will work (scan):
>
> Timeframe = 100; //choose your timeframe
> NewLos = (LLV( Ref(L,-1), Timeframe ) == Ref(L,-1);
>
> Filter = NewLos; //now filter for your stocks
>
> //Now you are creating an artificial ticker symbol:
>
> AddToComposite(Filter,"~NewLows","X",1|2|4|16);
>
> ------------------------------------------------------
> After this, you can plot the artificial ticker with
> just like any indicator:
>
> NewLo = Foreign ("~NewLows","X") ; // This is your plot
>
> ----------------------------
> With NEW HIGHS it is bascically the same, just use HHV instead of
LLV.
>
> Hope this helps.
>
> Werner
>
> >
> >
> > I would like to have a simple "new highs/lows indicator".
> > But I dont know how to program it.
> > Just plotting two lines, one for new lows, and one
> > for new highs, as an indicator.
> >
> > I suspect this must be done through a scan, in some way,
> > I have no idea how to do it.
> > Does anyone use this, and have a suggestion?
> >
> > Have searched the forum, it seems this subject hasnt been up
before.
> > I couldnt find it, surprisingly.
> >
> > Regards,
> > /Jens.
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