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Highest and Lowest value over a dynamic period

by QuantShare, 4285 days ago
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The "HhvLlv" function returns the highest or the lowest value of a time series over a preceding period. Unlike the built-in "hhv" and "llv" functions, this function accepts dynamic lookback periods. This means that you can get, for example, the highest high of a stock over a non-constant period.

Here is an example:

Let us say you want to get the highest value of the RSI indicator since the last crossover of that RSI with the 30 threshold.
To implement this, you can type:

a = rsi(14); // Relative Strength Indicator
b = cross(a, 30); // Crossover of RSI and 30
c = barssince(b); // Number of bars that passed since the last crossover
d = hhvllv(0, a, c); // Highest RSI value since the last crossover
// You cannot use "hhv" instead of "hhvllv" because the "c" variable is not constant and varies from bar to bar.

The "HhvLlv" trading indicator has three parameters:
Type: Set "0" to get highest value, otherwise the lowest value is returned
Series: Get highest and lowest values from this time series
Period: Specify the dynamic period to use for calculating highest and lowest values


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Type: Trading Indicator

Object ID: 1250


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