Analysis Techniques & Strategies

$image\insert_showme.gif$ New N-Day HiLo (ShowMe)

$image\trumpet2.gif$ Disclaimer

Input Information

Name	Expression	Default	Description
NumDays	Numeric	7	Number of preceding days used to determine the N-Day High and Low.
NewQualDays	Numeric	0	Number of days the new N-Day High is at the highest high and N-Day Low is at the lowest low.
OldQualDays	Numeric	0	Number of days the previous N-Day High was at the highest High and N-Day Low was at the lowest low.

Description

This ShowMe will plot the N-day high-low channel as lines and also plot any new highs/lows as ShowMe's. Only the first new highs/lows of the day are recognized and plotted.

Qualification example:

If NumDays = 21, NewQualDays = 5 and OldQualDays = 3, this means that you are looking for the first new 21-day high (low) in at least 5 days, where the previous 21-day high (low) was also the highest high (lowest low) in at least 3 days when it occurred. In other words, not only are you looking for a new extreme, you are comparing it a previous extreme that clearly stands out on the chart.

Related Functions

RS_DailyDataArray