Support Board
Date/Time: Thu, 31 Oct 2024 12:18:29 +0000
Post From: Auto Calculate Horizontal Lines as % of Prior Month/Weeks Range
| [2024-10-17 14:36:05] |
| User203740 - Posts: 2 |
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Hello, (New to SC - love it so far - and your knowledge base is amazing - super detailed and clear to follow - thanks!) Wondering if there's a more efficient way to achieve the following than my current method. I have checked the KB but not found anything beyond my methods below. Desired outcome: Set horizontal lines on a daily chart (index future) based upon the prior week's (or month's) range, drawn as percentages of the range at 25% increments, going from -200% to +200% (8 increments above and below the 0% anchor price). I guess it would be called something like: Horizontal Lines/Quadrants based upon n-period prior range I have found two ways to do this, manually, and want to know if there's a way to perhaps set a study to use the range data in study summary table, rather than calculate manually, or if there's a better way to achieve the outcome? Method 1 - Use the price expansion tool; measure prior week's range; change levels to be +/- 25% increments - this is limited to 9 levels. Cannot add custom labels to each line Method 2 - Use the Horizontal Lines at Increment study - calculate the range of prior week; divide by 4 for the 25% increments. Set the start value and line increments accordingly to give above and below market % lines. Repeat the same for the prior month's range on a different instance of the HLaI study, either on same or new chart. Please do kindly let me know - thanks |