Description
Defines an envelope of values by using the Highest High or the Lowest Low of the Last 'n' Periods.
The rules generally followed for this study are:
- enter the market when one of the bands is penetrated. This indicates a possible start of a trend.
- exit and reverse the position when the opposite band is penetrated.
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kalex718
Joined on 27.07.2012
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: HighestHigh LowestLow.algo
- Rating: 5
- Installs: 5578
- Modified: 13/10/2021 09:54
Comments
I love this indicator but there is one thing that makes it nearly useless for me.
When I add several of them to chart to look back farther and farther so I can see different levels in the past it pushes the chart up or down depends on values.Instead not showing extreme lines it squeezes the chart so all of the lines can be seen. This happens after large moves. When this happens the chart becomes very narrow , either at the bottom or top ,
Any way to fix that so this indi would not effect chart display?
Okay since no one cares about fixing this indicator, I'll throw in my methodology.
Chart 30m
HighestHigh_LowestLow : 15 15
Manual calculation: 1. On current developing candle, calculate the average between upper band and lowerband
Plot in manually the median band
1. If price is higher than the median band, it is a buy bias
2. If price is lower than the median band, it is a sell bias
There are 3 more indicators using them as filters that I will share when someone helps me alter this indicator.
Check it out yourself, you may able be able to figure you what the other indicators that I am using.
I have been using this methodology for 9 months now with success.
To sum up. There will be additional 3 lines equally distributed between current bands.
The way i do it is that on the current candle, I calculate how many pips between the current high band and low band, then divided it by 2, then i add the result to the to the lowest band -- this it is my middle line
For example:
Upper band is 160.60
Lower band is 160.20
total pips between bands= 40
40 divided by 2 is 20
I then add .20 to 160.20 .. equals 160.40 (this is my middle line)
For manually plotting the other two bands (option 2 ) I apply the same logic and calculation. So this is really a hard work plotting it manually. i really appreciate your help on this on.
Thank you
I really appreciate your assistance on this indicator. Currently, I do this manually and it is a pain doing it.
Thank you so much, developers. Your hard work is very much appreciated
Request 1 (option 1)
Can you please add option to have an average line (middle band) to be plotted between existing bands
Request 2 (option 2)
If possible can you also add option to plot the average between middle band highest high and plot another band with the average between middle band and lowest low band.
Thank you so much for your help.
Kent
Hi
How can we change the code to take a candle close for calculations instead high/low?
Thanks