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OK first problem I encounter when trying to write this in amibroker,
is that this doesn't work...:
HHA=HHV(H,10); //HHV of 10 days ago (for example 33)
HHB=HHV(H,10,-10); //HHV of 10 to 20 ago (for example 32)
HHC=HHV(H,10,-20); //HHV of 20 to 30 days ago (for example 34)
Any idea how to get the highest high value from, 10 days ago (not
counting today), 10 to 20 days ago and 20-30 days ago?
Is it possible in an easy fashion?
Thanks!
--- In amibroker@xxxxxxxxxxxxxxx, "carlacash26" <carlacash26@xxx>
wrote:
>
> I want to plot a horizontal line from the Highest High Value and
one
> from the Lowest Low Value for the past 30 days. In addition to this
I
> want to have an exploration find stocks where the price has turned
in
> the proximity of this line (support/resistance) over the past 30
days
> (or any period that I define). In other words I want to search for
a
> horizontal channel that has lasted for past 30* days.
>
> I have thought about how to implement this and maybe this is a
> suitable way?..:
>
> To find the the HHV for the last 10 days, AND the HHV for the last
10
> to 20 days, AND the HHV for the last 20 to 30 days.
> And then the same thing for the LLV. Do you understand what I mean?
>
> Then if the HHV/LLV for these timeperiods don't deviate from each
> other that much, then I can assume that there is resistance/support
> for past 30 days at this level. I could divide the range into
> more/less timeperiods also, I don't know the best number of
periods,
> I chose 3 to begin with.
>
> What do you think about this approach? Do you find anything that
> don't make sense about this?
>
>
> /***************************************************************/
> //THE CODE I HAVE COME UP WITH,
> //it's not finished by any means but you get my point hopefully
> //The syntax is probably not correct, this is some kind
> //of pseudo code I guess, I have just written this in notepad
> /***************************************************************/
>
>
> // First find the highest high values, And lowest low values for
the
> 3 periods; 10 days ago, 10-20 days ago, and 20-30 days ago
>
> HHA=HHV(H,10,-1); //HHV of 10 days ago (for example 33)
> HHB=HHV(H,10,-10); //HHV of 10 to 20 ago (for example 32)
> HHC=HHV(H,10,-20); //HHV of 20 to 30 days ago (for example 34)
>
> LLA=LLV(L,10,-1); //LLV of 10 days ago (for example 27)
> LLB=LLV(L,10,-10); //LLV of 10 to 20 ago (for example 28)
> LLC=LLV(L,10,-20); //LLV of 20 to 30 days ago (for example 29)
>
>
>
> //Then caluculate the average of these HHVs and LLVs
>
> HHavg=(HHA+HHB+HHC/3);//(for example = 33)
> LLavg=(LLA+LLB+LLC/3); //(for example =28)
>
>
>
> //Then check to see if the averages of the three HHVs and
> //LLVs are not deviating too much, I chose 5% as example
> //of maximum deviation.
>
>
> //HHAvg is between HHV - 5% and HHV + 5%
> if ((HHavg > (HHV(H,30) * 0.95)) AND (HHavg < (HHV(H,30) * 1.05)))
>
> AND
>
> //LLAvg is between LLV - 5% and LLV + 5%
> if ((LLavg > (LLV(L,30) * 0.95)) AND (LLavg < (LLV(L,30) * 1.05)))
>
> { hChannel=TRUE; }
> //if they don't differ more than 5% there is a horizontal channel
>
>
> Filter=hChannel; //filter for stocks where hchannel is true
>
> //now plot the channel for stocks where hChannel=true
> //i.e. plot lines from HHavg and LLavg, AND plot lines
> //from HHV(H,30,-1) and LLV(L,30,-1)
> //then maybe explore stocks that break out of these
> //resistance levels. Haven't thought about this yet...
>
> //Code ends here
>
>
> Please could you give your opinion on this, I might have missed
> something or maybe I'm completely off track? Is there a better way
> to find horizontal support and resistance that I could use to find
> horizontal channels/ranges?
>
> Thank you very much for any help or suggestions or comments you can
> give! It's highly appreciated!
>
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