Author Topic: Previous Days Trading Range (PDTR), add that range to yesterday high plus $/%  (Read 5397 times)

Alphanator

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I could not find a filter/alert that represents the Previous Days Trading Range(PDTR).

Obtain the PDTR, next add that PDTR dollar amount on top of yesterdays HIGH (YH), call this the calculated range (CR), then add additional $/% to that amount.

Given:
AAPL 03Jul12    High: 600.00    Low: 594.00

PDTR = 6.00 pts

Now add the 6.00 to the High of 600.00, equaling 606.00
(PDTR + YH) = CR

Now add either a $ amount or a %  to the 606.00 figure.
e.g. add 0.40cents to 606.00, equaling 606.40
CR + 0.40 = alert/filter

A % amount would take into consideration various price ranges.

...........now trigger/show AAPL when current trading price hits 606.40 <---this could be your entry

for 05Jul12 AAPL on 5min chart (freestockcharts)  AAPL would now appear on the 10:35am bar and appear in TIP.

TradeIdeas1

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Here is the filter that represents the previous days trading range.  In TI Pro you would just have to go to configure and search and type previous and you would see it http://www.trade-ideas.com/Help.html#WSF_MinRPD

Alphanator

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Here is the filter that represents the previous days trading range.  In TI Pro you would just have to go to configure and search and type previous and you would see it http://www.trade-ideas.com/Help.html#WSF_MinRPD

I did a "find" on the filter/alerts definitions web page before posting for the word "previous", but apparently I did not hit the "next" button enough times to find it on the page!

YESTERDAY'S HIGH (YH)
PREVIOUS DAY'S TRADING RANGE (PDTR)
CALCULATED RANGE(CR)
YESTERDAY'S LOW (YL)

Went File, New Alert Window, then added the filter Position in Previous Day's Range and then make MIN = 201
201 means: yesterdays entire previous days trading range (100), plus that same range amount (another 100), plus 1% above the Low of the range.

In history for 05Jul12 it brings up symbol SHOO 10:45:16 AM  32.81

The range for 03Jul12 (the previous day) is: High 31.91(YH) minus Low 31.33(YL) = 0.58 (PDTR)


YH + PDTR = CR + 1% of YL  then equals the appearance of a symbol in the strategy
31.91 + 0.58 = 32.49(CR) plus 0.32 [1% of 31.33  =  32.81  <----- equals your possible long entry

31.91 x 1%(the "1" of the 201) = 0.319 (.32cents)

Of course there is no guarantee...  XPO also appears at 16.70 and that turns out to be the high for the day! (05Jul12)


How can this be adapted to use $ instead of %?
Maybe you only want to work a price range of $30 to $70 and instead of percentage you want to use 0.10cents added to the CR?
Or maybe price range of $400 to $600 and you want to use $1.25 added to the CR?
« Last Edit: July 10, 2012, 07:34:28 pm by Alphanator »

TradeIdeas1

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To make things more uniform we use % for previous days range.  You can always filter the general price in the Min and Max price filters.

braddoubleu

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I have added a new filter to your login.  You can see if type in Yesterday's Trading in the Search tab of the Configure window.

You can use this as a filter and/or a column

The filter is U66 and the formula is high_p-low_p

« Last Edit: July 14, 2012, 12:31:37 am by braddoubleu »