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Date/Time: Fri, 29 Mar 2024 13:06:47 +0000



[User Discussion] - Tick range calculator

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[2018-09-26 12:50:29]
markuz - Posts: 90
do you have an indicator representing this: Basically, you set the number of points or ticks that price must move and then the tool draws a new line once price has closed above or below that threshold. On a day like today which was very range bound, it can be a great visual aid to see just how little price actually moved. (picture attached)

Note: In this example on NQ, I have the tool set to draw a new "box" or line when price moves 10 points in either direction.
imageTick draw example.png / V - Attached On 2018-09-26 12:50:18 UTC - Size: 99.05 KB - 772 views
[2023-10-14 13:38:28]
SSGill - Posts: 34
Hi, I am looking for something similar that I can use the spreadsheets alert system to develop. Having some trouble starting on the particular function I could use to 1) identify these ranges, 2) draw a rectangle box around them as in markuz's picture?

on an ES futures chart if I wanted to identify any range bound horizontal trend, I could do the following..

I could have a lookback in column y such as =and(y13> (e3-10), y13< (e3+10), y12> (e3-10), y12< (e3+10), y11> (e3-10), y11< (e3+10), y10> (e3-10), y10< (e3+10), y9> (e3-10), y9< (e3+10), y8> (e3-10), y8< (e3+10), y7> (e3-10), y7< (e3+10) ETC, ETC
but this has two problems;

1) would not be dynamic, and not be true if 8 bars ago, the price action just entered into the 10 point range.

2) not be able to identify any price action that was greater than 10 points OR longer than 10 bars.

Hopefully someone knows a way to do this, or point me in the right direction!! Thanks in advance.

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