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Percent above the days low
At first, I thought the first version would keep me just above the day's low (.006) and just above yesterday's low, again (.006) but now I think that I may have had it written incorrectly. [[Close < 1 Day ago High - [0.006*[1 Day ago High - 1 Day ago Low]]] or [Close < 1 Day ago High - [1 Day ago Range *.006]] and [Close < Low - [Low * .006]] or [[Close < 1 Day ago High + [0.006*[1 Day ago High - 1 Day ago Low]]] or [Close < 1 Day ago High + [1 Day ago Range *.006]] and [Close < Low + [Low * .006]]
Low * 1.006 would be what you are saying, I believe. If the Low is $10 you want Close to be less than something just above 10? Like 10 * 1.006? Close is less than Low * 1.006? This would give you results where the close is between between 10.00 and 10.06
If you multiply by 0.006 then you are saying that Close < Low($10) * 0.006 or Close < 6 cents.
4/10 of 1% :
below high is high * 0.996
above low is low *1.004
If StockCharts ever adds the ATRP then it would make it clearer for display on a chart. Until then, I believe, Price Channel 1,-1 is a way to visualize it but it's not going to show the % value of the range. Only the High, Low, and mid point of the range.
You could also play around with the Chandelier Exit parameter 1,0.5. The CE looks at ATR for the specified period and allows you to select the number of ATR for the offset of the line. So 0.5 is half of the ATR for the period. CE defaults to working off the high. To work off the low, 1,0.5,short would be the 1 period parameter and 0.5 ATR's You could put 0.25 for a quarter ATR.
So below the mid point but above say the bottom 10 % of the range, or, above the midpoint but below the top 10% of the range would look like this:
// below mid point
and [close < low + [range * .5]]
and [close > low + [range * .1]]
// above mid point
and [close > low + [range * .5]]
and [close < low + [range * .9]]
I'm not clear on how you are using values from yesterday and today, so I left out the time modifiers. You can use the time modifiers - even with range, I think - like 1 day ago range instead of high minus low - and it should still work (provided you keep them all straight, of course).
Range > 1 days ago Range
Range < 1 days ago Range
Weekly Range > 1 weeks ago weekly Range
Weekly Range < 1 weeks ago weekly Range
Monthly Range > 1 months ago monthly Range
Monthly Range < 1 months ago monthly Range
Each pair will produce different results.
Be careful on the Monthly in particular. Running it today will compare April vs March. April has 1 days worth of Monthly range at the moment. So perhaps 1 month ago vs 2 months ago would be more "useful".
The number you get from per cent of price (e.g., the low) will land in a different part of the current day's range every day.
So lets say some per cent of the low today is 20. It might vary over the day or from one day to the next between say 18 and 22, but for simplicity, lets say 20. If the range for the day so far is 30 pts, the low plus 20 lands in the top third of the range - way off the low. But if the range so far is 80 points, it lands you in the bottom quarter which might be better but still might not be acceptable.
But if you use low plus 10 per cent of range so far, you will always get a value that is 10 per cent above the low no matter what happens to the size of the range within the same day or from day to day.