Category: Advanced Indicator Set 2
Input parameters
Name
|
Setting
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Default
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Input
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Time Series
|
Close
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Period
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Integer >= 2
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10
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Calculations
Retrace Buy[i]=(Input[i]/Lowest-1)*100,
Lowest is the lowest time series value which occurred after the highest time series value in the window.
Discussion
The Retrace Buy indicator output is the percentage that the current bar is of the lowest time series value which occurred after the highest high time series value in the window. In other words, for each window the indicator first finds the maximum, then starting with the bar where maximum occurs, looks for a minimum after that. The output is then the percent change between current bar value and the minimum bar value. The Retrace Buy indicator output is >= 0.
The theory is that Retrace Buy may find valleys if the percentage is low, possibly making a good buy opportunity. If the percentage near zero, then the time series may still be going down.
Also see the Retrace Sell indicator.
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