20-days High and 20-Days Low Indicator

Anyone can assist to an indicator to highlight 20-Day High and 20-Day Low.

20-Day High. If the last price bar (Range from High to Low) exceed the high of the last 20 days. Indicated by a blue strip.

20-Day Low. If the last price bar (Range from High to Low) goes below he low of the last 20 days . Indicate by a red vertical strip.

Thanks.
Kenny

Hi,

Please check if this is ok.

For the full Range of current bar not being in touch with the price channel high

L>Ref(HHV(H,20),-1)

For the full Range of current bar not being in touch with the price channel low

H<Ref(LLV(L,20),-1)

You may paint the bar as you wish in Expert Highlights.

Please confirm whether this is serving your purpose.

Happy Practicing Technicals

Ajayakumar

Thanks Ajay

I explore this . It indicates the high and low on one indicator.

nh:=H>Ref(HHV(H,21),-1);
nl:=L<Ref(LLV(L,21),-1);
If(nh,1,If(nl,-1,0))

Can try this.

Sir,

I need a formula to Explore Congestion of Moving Averages in Shares in Metastock on EOD Charts.
Sir, which Indicators (their Values also) are the Best & Most Reliable for EOD Trading using Metastock.

Regards
Karanm

Dear Karam,

I am not sure. I think probably you can explore Daryl Guppy. It consists of many moving averages, short term and long term. When short term moving averages get compressed together, it is like a spring ready to spring back and open up again. I heard about it. You can explore further into it.

Hope it help

Hi Karan,

Here the congestion needs to be quantified. In case you are able to quantify the permissible maximum distance between these moving averages, it can be done. But as the naked eye identifies, the program can't catch the congestion.

In defining the permissible distance, you may take the help of price channels.

OR

You may try increasing your chart periodicity and look for a range bound move. e.g., inside() on a monthly chart


Trendlines and Specific bar behavior . Yes Karanji, according to me no indicator matches a finely drawn trend line or a well defined Bars.

Happy practicing technicals

Ajayakumar

Hi Ajay,

Can you change the color of the price bar by programming if certain conditions are met? If so, would appreciate if you can share with me.

Many Thanks
Kenny

Hi Kenny,

You can simply copy the formula in Expert Advisor in Highlights tab and give what ever the color you want. Once the price behavior meets the said condition, automatically the bar color changes.

Happy practicing technicals

Ajayakumar

I still cannot find it.

Would you be kind enough to type the formula out for me.

If the last day high price is the highest of last 20 days , the color of the price change to blue.

If the last day of the low price bar is the lowest compare to the last 20 day, the color of the price bar is red.

Many thanks for the assistance.

Kenny

Hi Kenny,
This is different from what you asked earlier. Earlier you asked for almost a gap against the highest high value and lowest low value for a said period say 20 days.

This one is simple

Formula 1. For Green Colored Bars H>=HHV(H,20)

Formula 2. For Red Colored Bars L<=LLV(L,20)

Please don't club both and make a single indicator.

Keep them as they are.

For Green Scenario

Go to Expert Advisor - Click on New - Name it - Choose Highlights Tab - Click on New -

You will get Expert Highlight Editor wizard.

If you want you can name it.

Here you choose the color Green and copy the Formula 1

Click OK

Then again click on new in the highlights tab. This time choose Red color and copy Formula 2 here and click OK.

Then say OK and open a price chart and click on "Attach" - only once. Here don't click two times. Generally people make this mistake in the beginning.

After clicking on "Attach" just close Expert Advisor.

You will find the expert attached.

Please follow this and try doing it. If you have any trouble, please come back.

Happy practicing technicals

Ajayakumar