HighLowDiff

Description

This formula identifies the difference between the current high and current low, an essential determination in calculating Wilder's True Range.

Formula

HighLowDiff(instrument)=begin

   retval = NONUM

   if instrument.high != NONUM and instrument.low != NONUM then begin

      retval = Diff(instrument.high, instrument.low)

   end

   retval

end

Parameters

instrument

The instrument argument specifies which instrument to evaluate.

Return Value

The difference between the high and low.

Examples

TrueRange(instrument)=if(HighLowDiff(instrument) > HighPreviousCloseDiff(instrument), if(HighLowDiff(instrument) > CloseLowDiff(instrument), HighLowDiff(instrument), CloseLowDiff(instrument)), if(HighPreviousCloseDiff(instrument) > CloseLowDiff(instrument), HighPreviousCloseDiff(instrument), CloseLowDiff(instrument)))

Comments

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