- Topics: 5
- Replies: 521
- Posts: 526
Do the criteria occur on the same bar? Or does the high get taken out by one bar, then the close is lower than that bars close the following week?
The script below is the first setup, where they occur on the same bar, the other setup would be trickier.
This script has been designed to be ran on a Weekly time frame scan / weekly chart…
V1 = High() CrossesAbove HIGHESTHIGH(BACKTYPE=Weeks, BARS=52) ;
V2 = CLOSE() < CLOSE(1) ;
V1 and V2
On the chart the result looks like this:
The green line is the 52 week high, and the shaded green section is the bar that passes (New 52 week high set, Close is lower than previous weeks close).