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LBR_IntraHL Channel

Formula for: TradeStation

indicator


 

 

Views:  1546

Added: June 14, 2008
 
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Tags: TradeStation, indicator
 
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The LBR_IntraHLChannel is a simple indicator that plots the highest day high and lowest day low channel for some number of trialing days, on an intra-day chart, or daily chart. See the interview with Linda Bradford Raschke, "Back to the Basics", for more information.

How it works: LBR_IntraHLChannel:
The LBR_IntraHLChannel is a simple indicator that plots the highest day high and lowest day low channel for some number of trialing days, on an intra-day chart.

It also works on Daily Charts.

You need to make sure you have enough days of data loaded for the input length you select when using intra day charts.

Can be used with any bar interval charts.

When used with weekly or monthly charts the highest high and lowest low are based on bars not days.

Inputs:
HighLowLen(5) - Number of days to look back for the highest high and lowest low.

Entry / Plot Descriptions:
Plot1 - Highest High for some number of days back
Plot2 - Lowest Low for some number of days back

Suggested Modifications: You may want to Investigate the keywords that make this indicator possible for intra-day charts: CloseD, OpenD, HighD, LowD, etc.

About the Author/Submitter: Linda Bradford-Raschke - http://www.lbrgroup.com

 

 



Code:

Type : Indicator, Name : LBR_IntraHLChannel

inputs: HighLowLen(5);

vars: x(0), HHigh(0), LLow(0);

if DataCompression <= 1 and Currentbar > 1 then begin

for x = 0 to HighLowLen - 1 begin

if x = 0 then begin
HHigh = HighD(0);
LLow = LowD(0);

end;

if x > 0 then begin
value1 = HighD(x);
value2 = LowD(x);
if value1 > HHigh then
HHigh = value1;
if value2 < LLow AND Value2 > 0 then
LLow = value2;
end;
end;

Plot1(HHigh, "Highest High");
Plot2(LLow, "Lowest Low");

end;

if DataCompression > 1 and Currentbar > 1 then begin


Plot1(Highest(High,HighLowLen), "Highest High");
Plot2(Lowest(Low,HighLowLen), "Lowest Low");

end;


 






Author: Linda Bradford-Raschke
Source: https://www.tradestation.com

 

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