- Platform
-
- Thinkorswim
I've grown to dislike the use of indicators that use the length of bars to forward past data into the present since it can phase out important data just because it is out of view from the preset lookback length. Here is a nice way to see the range of prices over time and where an oversold condition may be present. As you can see in the ES futures, price over the past decade and a half has violently reversed around 250 points of range. There are a lot of ideas that pop in my mind to tinker with but just wanted to throw this into the forums and let whoever is looking at this play around with it.
Code:
DECLARE LOWER;
input agg = aggregationperiod.day;
def low = low(period = agg)[1];
def high = high(period = agg)[1];
PLOT range = high - low;