Re: EL Question - Referencing 52-week High on Intra-Day Chart

[editorial@xxxxxxxxxxxxx]

-- I wrote: 

> To the original poster:  You might consider simply
> tracking this manually and having two inputs to your
> strategy which you adjust on a weekly basis.  


Then Gary wrote:

> That works great for an indicator you just want to
> use for discretionary trading.  Won't help much to
> backtest a strategy, though.



I'm not so sure...  :-)

You set the inputs to whatever the appropriate values would have been at the start of the chart 33 weeks ago (13000 5-min bars =~ 33 weeks).  Then the 52-week high and low can easily and automatically be adjusted for any changes that take place during the time covered by the chart:


Inputs:

AnHigh(20000),
AnLow(0);  

{Set these to the appropriate levels that they would have had at the time of the first bar on the 5-minute chart}


Var:

AH(0),
AL(0),
AHHold(0),
ALHold(0);

If BarNumber = 1 then begin
  AH = AnHigh;
  AL = AnLow;
End;

If H > AH then AHHold = H;
If L < AL then ALHold = L;

{Keeps any newly struck 52-week high in AHHold and newly struck 52-week low in ALHold}


If DatetoJulian(Date) - DatetoJulian(Date[1]) > 1 and AHHold > AH then AH = AHHold;

If DatetoJulian(Date) - DatetoJulian(Date[1]) > 1 and ALHold < AL then AL = ALHold;

{Above two statements adjust 52-week H & L (AH and AL) each week.  I'm assuming that we adjust this on a weekly basis.  We could adjust it constantly very easily...}


If {Buy Conditions} and C > AH then Buy;
If {Sell Conditions} and C < AL then Sell;



You set the inputs once and you can backtest over the whole 13000 bars...


Good trading,

OM