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Price within X percent of high within Y days
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Created: by eddieo Attachments:1

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Price within X percent of high within Y days

  #1 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: Thinkorswim
Favorite Futures: Options
 
Posts: 4 since Feb 2015
Thanks: 1 given, 0 received

Price within X percent of high within Y days

TOS offers a "Near_High_Lows" study for its scans, image attached.

Parameters on the built in version of this are "Current price is within [X] percent of the [252] period [High/Low]"

I'm looking to customize this to add a "within n bars" parameter. Could anyone give me a thinkscript tip on how to do this?


Thanks,
EddieO


P.S. The ThinkScript behind the default study is:


#Wizard text: The current price
##Wizard input: price
#Wizard text: is within
#Wizard input: choice1
#Wizard text: % of the
#Wizard input: period
#Wizard text: period
#Wizard input: choice

def price = close;
input period = 252;
input choice = {default High, Low};
input choice1 = 3;

def hi = high;
def lo = low;

plot scan;
switch (choice) {
case High:
scan = price >= highest(hi,period)* ((100 - choice1) /100);
case Low:
scan = price <= lowest(lo,period)* ((100 + choice1) /100);;
}

Attached Thumbnails
Price within X percent of high within Y days-capture.png  
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  #2 (permalink)
Trading Apprentice
Los Angeles,CA USA
 
Futures Experience: None
Platform: MT4 TOS
Favorite Futures: Anything Profitable
 
Posts: 4 since Mar 2017
Thanks: 0 given, 0 received

I figured ide add this for people that like your thinkscript code for thinkorswim ( TOS ), the code below is to add a COLUMN in the COLUMNS that will display the how far the current price is from the days HIGH in percentage format.

COLUMN CODE BELOW: PERCENT FROM CURRENT DAYS HIGH
 
Code
plot x=round(100*((close/high)-1),1);

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  #3 (permalink)
Trading Apprentice
Los Angeles,CA USA
 
Futures Experience: None
Platform: MT4 TOS
Favorite Futures: Anything Profitable
 
Posts: 4 since Mar 2017
Thanks: 0 given, 0 received


If you want it charted, here is a STUDY that will allow u to chart it in the top left corner. Of the TOS chart.

CHART THE PERCENT FROM HIGH IN CORNER (customizable)
Thinkscript STUDY CODE BELOW:

 
Code
#HINT: This chart label shows the percent change down from the high.above \n\n IMPORTANT: If a new IPO you need to change the length to max of number of days since IPO release.

input length = 252;  #HINT length: There are 252 trading days in a year or change to 1 for DAYS high or 5 for weekly high
input show_label = yes;
input Label_Color_Choice = {"magenta", "green", "pink", "cyan", "orange", default "red", "blue", "gray", "violet"};

def top = highest(high(period = AggregationPeriod.DAY), length);
def prctDrop = ((close(period = AggregationPeriod.DAY)/top)-1);

def NewHigh = high == top;

AddLabel(show_label and !NewHigh, "Percent down off high: ( " +  AsPercent(prctDrop) + " )  ", GetColor(Label_Color_Choice));

AddLabel(show_label and NewHigh, "new 52-week high TODAY", (CreateColor(51, 204, 0)));

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