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Chuck wrote:
>How about something like this: Take the high and low of the last 10 bars
and if they are less than 2
>Average True Ranges apart you have a congestion. (Just guessing at the
10 and 2 values.)
>
>Chuck
Then Phil wrote:
> What would be the ELA code to plot something like this, on charts?
Off the top of my head... You could do this as a PaintBar:
Input:
ATRLen(10),
LookBack(10),
ATRMult(2);
If Highest(H,LookBack) - Lowest(L,LookBack) < ATRMult * AvgTrueRange(ATRLen)
then begin
Plot1(H,"Cong. H");
Plot2(L, "Cong. L");
End;
Vary the inputs as desired until the PaintBar paints what you consider to
be "congestion"...
Good trading,
The Omega Man
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