TrueRangeCustom (Function)
DisclaimerThe TrueRangeCustom function calculates the true range based on user specified high and low prices.
Syntax
TrueRangeCustom(HPrice, LPrice, CPrice)
Returns (Double)
A numeric value represent the true range based on a user's set of prices.
Parameters
|
Name |
Type |
Description |
|
PriceH |
Numeric |
Sets a user specified high price as the basis for the true range calculations. |
|
PriceL |
Numeric |
Sets a user specified low price as the basis for the true range calculations. |
|
PriceC |
Numeric |
Specifies which bar value (price, function, or formula) to use for the close. |
Remarks
This function is similar to TrueRange except that it allows greater flexibility through the use of user specified high and low price inputs.
Example
Assigns to Value1 the 'true range' of prices that are outside of the current bars actual range.
Value1 = TrueRangeCustom(High+.50, Low-.50, Close);