Approaching high of day


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Hello Pete

I was looking for a Scan in TradeStation Easy Language, below is the logic, it looks for stock that are approaching high of the day.

Any idea how to create this Scan.

Last price +0.10 is Greater than high of day price.

Thanks.

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Posted by (Questions: 8, Answers: 7)
Asked on March 31, 2020 1:24 pm
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Perhaps we need more clarification on this before we can attempt any solution. Because if I read this literally, I sense that we are trying to read the future. Which is impossible given our current state of technology. The high of day, can only be determined at the close of the day. Until the close of the day we don't know what the high of day will be. And then you are asking to scan for when current price is 10 cents above the high of day. Which in itself is impossible, because at that point there is a new high of day. We have a circular reference which cannot be resolved.

So I try to reconcile this obvious detail with your request and it leaves me guessing at what you truly intended to ask. Perhaps you wanted to track the current high of day (highest value so far), then scan for when price approaches that high of day before the market closes, and for each new day the process begins from scratch.

So for the opening bar, the price will always be considered "approaching" the high of the day. Because the high of the day is contained right there within the first candle of the day. Which is clearly what you do not want, right? So this implies we need some way to define how many bars after the market opens are required before we begin checking for this signal.

I could continue on with more details that still need to be provided. But at this point I think I have given you enough ideas to help you go back to the drawing board and express your request in sufficient detail to cover all the other elements missing from your initial request.

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Posted by (Questions: 38, Answers: 3345)
Answered on March 31, 2020 5:03 pm
The solution you added did not get processed because it was not a solution but rather a comment. So please add all comments in the comment section. Screenshots cannot be provided in the comment section except through a link to a cloud service. From the description you tried to provide by adding a new solution I think that what you are asking for is a TradeStation version of the following chart study I built for Thinkorswim: https://www.hahn-tech.com/thinkorswim-alert-high-low-version-two/
( at April 2, 2020 1:33 pm)