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Description |
A window is a gap. In an up trend, a window is a gap between the previous high and the current low. In a down trend, a window is a gap between the previous low and the current high.
Windows form important support and resistance levels. In an up trend, a pullback that moves through the support level "closes the window." In a down trend, a window is closed by a rally that moves through the resistance level. |
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Formula |
OpenWindow(INPUT)=begin retval = NONUM cHigh = GetPrice($1, BATE_HIGH, targetBar, 0) pHigh = GetPrice($1, BATE_HIGH, (targetBar + 1), 0) cLow = GetPrice($1, BATE_LOW, targetBar, 0) pLow = GetPrice($1, BATE_LOW, (targetBar + 1), 0)
if cLow > pHigh then retval = 'OW'|clr_green|below|vertical|ftiny|arrow if cHigh < pLow then retval = 'OW'|clr_red|above|vertical|ftiny|arrow retval end |
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Parameters |
INPUT The INPUT directive makes this formula available as a Formula Overlay. INPUT refers to the instrument in the chart. |
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Return Value |
The string plot for a an Open Window is "OW." A bearish Open Window is rendered in red above the candlestick. A bullish Open Window is rendered in green below the candlestick. |
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Examples |
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Comments |
NA |
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