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
|
Calculations
Retrace Sell[i]=(Input[i]/Highest-1)*100,
Highest is the highest time series value which occurred after the lowest time series value in the window.
Discussion
The Retrace Sell indicator output is the percentage that the current bar is of the highest time series value which occurred after the lowest high time series value in the window. In other words, for each window the indicator first finds the minimum, then starting with the bar where minimum occurs, looks for a maximum after that. The output is then the percent change between current bar value and the maximum bar value. The Retrace Sell indicator output is <= 0.
The theory is that Retrace Sell may find peaks if the percentage is low negative, possibly making a good sell opportunity. If the percentage near zero, then the time series may still be going up.
See also the Retrace Buy indicator.
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