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  • First of all, let me say sorry for replying late. I jus did not opened my account as I thought none is bothered to reply. Anyway dear sachuc, see this how it will go,

    If today's close > previous 20 day's highest high Then
    20 day's lowest low ( which will form the blue line )

    AND

    If taday's close < previous 20 day's Lowest Low then the same BLUE line will be shifted to THAT Lowest Low prices..and this will go on and on and on as days will pass, the line will be shifting according to the new highs & lows..

    Hope this clears your confusion. Please do reply..I was late in reply & I'm really sorry for that..

    Thanks & Regards

    Avinash Raste
    Sir/Madam
    I want to know to know the basic thing about this formula from which I can learn further
    The formula states if
    If today's close > previous 20 day's highest high Then
    20 day's lowest low ( which will form the blue line ) I understood the first part that if todays close is> last 20days high tis part is ok but then it says "then 20 day's lowest low(green line)" why should there be a line of lowest price of last 20 days if there is a breakout of 20 days high what is the use of that low
    I know this is very basic question but unless I know this I wont be able proceed forward in stdy of fchart formulae
    Sachuc
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