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"Lookback periods": measure range over last x periods.
Default 5 periods = 1 week.
"Average over x periods": average range over last x periods.
Default 35 periods = 7 weeks.
The indicator plots range (points or %) and chart's total average
range.
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "wetrade2002" <wetrade2002@xxxx
> wrote:
>
>
> Could you explain what is the Lookback period and the average of x
> periods?
>
> What does the 2 line mean?
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Jose Silva"
> <josesilva22@xxxx> wrote:
>
> There's an error in that formula - try this version:
>
> =============
> Range - basic
> =============
> ---8<--------------------------
>
> { Avg of Hi/Lo range over x periods }
> { http://www.metastocktools.com }
>
> { User inputs }
> pds1:=Input("Lookback periods",1,2600,5);
> pds2:=Input("Average over x periods",1,260,35);
> type:=Input("type: [1]Points, [2]%",1,2,1);
>
> { Range }
> hi:=HHV(H,pds1);
> lo:=LLV(L,pds1);
> range:=If(type=1,hi-lo,(hi-lo)/hi*100);
> SmRange:=Mov(range,pds2,S);
> avg:=Cum(SmRange)/Cum(IsDefined(SmRange));
>
> { Plot in own window }
> avg;SmRange
>
> ---8<--------------------------
>
>
> jose '-)
> http://www.metastocktools.com
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "wetrade2002"
> <wetrade2002@xxxx> wrote:
>
> Hi
>
> I am trying to create 2 indicators that shows a stock
> movement(Range) per week and where the range of the stock is
> currently?
>
> I find that ATR does not work that well.
>
> I want to see the average of the HIGH - LOW for the week for
> maybe 7 weeks.
>
> Thanks
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