Custom High/Low Indicator with Labels


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I have a really good mental image of what I would like to do, but stuck. Here is what I am looking for, in a nutshell:

  • Inputs for Length and Aggregation Period, so I could select ’10 Days’ or ’30 Minutes’ or whatever
  • Study would then:
    • Calculate the HighestHigh over the above timeframe, using my inputs
    • Look intraday for a new high that is greater than the Highest High
    • If true, paint a bubble at the candle where the new high occurred
  • Create a label to look something like this:
    • { New [Len_Agg] High: $12.34 }
    • If a new high had not been made, label would say ‘New High: No’

I’d then do the exact same thing for ‘Low’, using a second label.

Would also love to be able to then scan that criteria, i.e. – Where ‘New High’ is true or something…? Essentially, tell me the stocks that have made a new high in the last 10 days or a new low in the last 30 weeks or whatever timeframe. But maybe that is separate?

I have been at this for a while and am stuck. PLEASE HELP OH GREAT ONE!

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Posted by Chris Formen (Questions: 4, Answers: 6)
Asked on August 23, 2020 2:25 pm
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Private answer

The complexity of this solution is way beyond the scope of what I can provide in the 15 minutes I allow for Q&A forum solutions.

The following free tutorial is the closest offering we have published for what you are requesting:

https://www.hahn-tech.com/thinkorswim-alert-high-low-version-two/

 

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Posted by Pete Hahn (Questions: 37, Answers: 4153)
Answered on August 23, 2020 3:39 pm
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I apologize for not following the rules. I'm just stuck lol
(Chris Formen at August 23, 2020 4:19 pm)
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You didn't break any rules. Nothing to apologize for. Never hurts to ask.
(Pete Hahn at August 23, 2020 4:38 pm)
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I think if I could just figure out how to find the highest high over the last N periods, I could (maybe) take it the rest of the way. Any chance to see an example of how to code "find the highest high of the last 40 days"?
(Chris Formen at August 23, 2020 4:46 pm)
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Here is a post that gets the lowest in x bars. https://www.hahn-tech.com/ans/how-to-plot-lowest-low-out-of-the-last-5-candles/ Works very much the same in reverse: https://toslc.thinkorswim.com/center/reference/thinkScript/Functions/Tech-Analysis/Highest
(Pete Hahn at August 23, 2020 5:55 pm)
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OK that is very helpful. I am going to go back into the lab and see what I come up with, and will be sure to share for anyone interested. Thank you!!!
(Chris Formen at August 23, 2020 6:38 pm)