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Moving average crossovers using H+L/2 instead of close

slikjunkslikjunk ✭
in Scanning
Can you scan for moving average crossovers when the MA is based on High+Low/2 instead of the close?

Comments

  • markdmarkd mod
    The SMA( ) function requires a key word or another indicator for the value to be averaged. The documentation doesn't mention it, so I don't think it can handle a non-standard calculated value like (h+l)/2 - although you could try it sma(20, ((high+low)/2)) or something like that. Also, it's possible there is an undocumented keyword (e.g. "close" is a keyword) like "midpoint" or "mid".
  • lmkwinlmkwin ✭✭
    Another thought is to use the Middle Channel of the Price Channel. Not exactly a moving average but it tracks the midpoint between the high and low of the selected period H+L/2

    On the attached screen snip, the Lower - Middle - Upper price channel values are displayed in the screen. I highlighted the Middle value. I offset the price channels in the example (using a comma minus 1 in the parameter field) to better show the relationship of the High/Low/Middle that the channels are reflecting.



    You may also find the Stochastics or the Williams %R of use as they reflect the High and the low of the period and the mid point is 50 or -50 in the case of the %R.
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