Technical Studies Reference
High/Low for Time Period | High/Low for Time Period - Extended
The High/Low for Time Period and High/Low for Time Period - Extended studies will draw lines in the chart for each day at the Highest price for the time spanning the Start Time to End Time study Inputs and at the Lowest price for the same time period.
With the High/Low for Time Period version of the study, the lines are only drawn from Start Time to End Time study Inputs. There is no consideration of the Session Times in Chart >> Chart Settings.
With the High/Low for Time Period - Extended version of the study, the lines will be drawn beginning at the Start Time Input and go to the end of the primary session as specified with the Session Times >> End Time in Chart >> Chart Settings. The lines will not extend beyond of the end of the primary session. Therefore, if you have set the Start Time Input with the study which begins in the prior day and the Session Start Time for the chart is set to 0:00:00, the lines will not extend beyond 00:00:00 in the chart.
This study is typically used to draw the Opening Range across the day in the chart or to draw the overnight session High and Low on the Day session.
The Start Time and End Time Inputs can specify times which are within the times of a chart bar, but the actual High and Low used will be based upon the visible bars. For example, if the chart bars are of a 1 hour timeframe and you have specified a Start and End Time that spans 15 minutes only, then because this amount of time is within a bar, the lines will be based upon the High and the Low of the 1 hour bar that contains the specified 15 minutes.
Related to the above, when using Number of Trades, Volume, Range, Reversal, Renko, Delta Volume, Price Change, Point and Figure Bars, those chart bars which contain the specified time range (Start Time and End Time), even if only partially, are going to be used in the calculation. The actual High and Low of the bars will be used. This is something to keep in mind because the result will not be exactly as you expect.
If you need to draw lines on an Intraday chart for the current day that represent the highest High and the lowest Low for the day, then you will want to use the Daily OHLC study and set the Reference Days Back Input with that study to 0.
- Start Time: This is the start time that you want to determine the High and Low prices from. This can be later than the End Time. If it is later than the End Time, then it is considered in the prior day. The Start Time must be within the time range of the Session Times, otherwise no lines may be displayed.
- End Time: This is the end time that you want to determine the High and Low prices to. This can be earlier than the Start Time and in which case it will be in the prior day. The High/Low bar values at this specific time are included.
- Input Data High: This can be changed from the default and set to the particular Study Subgraph to use as the High when this study is based on another study. For further information, refer to Input Data.
- Input Data Low: This can be changed from the default and set to the particular Study Subgraph to use as the Low when this study is based on another study. For further information, refer to Input Data.
- Display High and Low Incrementally: When this Input is set to Yes, then the High and Low at each bar represent the highest high and lowest low that have occurred from the Start Time up until and including that bar. Rather than there being a consistent highest high and lowest low spanning all the bars from the Start Time to the End Time.
- Number of Days to Calculate: The default for this input is 10000 and means that the High/Low for Time Period Subgraph lines will be calculated and displayed for up to 10000 days from the last date in the chart. Reduce this number to what you require if you just want to calculate and display the lines on a fewer number of days.
- Use Line Stop Time: This Input only applies to the High/Low for Time Period - Extended study. Set this Input to Yes, to have the High/Low lines stop at an earlier time than the Session Times >> End Time in Chart >> Chart Settings. The actual stop time is set with the Line Stop Time Input.
- Line Stop Time: This specifies the High/Low lines stop time when Use Line Stop Time is set to Yes.
Using the High/Low For Time Period Study on Another Study
It is supported to base the High/Low For Time Period study on another study in order to determine the Highest and Lowest values for a specific period of time for the other study it is based on. To accomplish this, set the Based on setting in the Study Settings window to the other study that you want to base the study on. Also, set the Chart Region setting to the same chart region that contains the study you are basing the High/Low For Time Period study on.
*Last modified Friday, 06th April, 2018.