% from Hurst envelope

Optuma Forums Optuma Scripting % from Hurst envelope

This topic contains 2 replies, has 2 voices, and was last updated by Darren Darren 5 months, 2 weeks ago.

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  • #50491
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    Julius
    • Topics: 1
    • Replies: 0
    • Posts: 1

    Hi,
    I’m trying to do this: “Last Close Is X% From Upper band of Hurst Dominancy Envelope” (also the same for the lower band).
    No luck so far. Any help would be appreciated.
    Thxs.
    Julius

     

    #50495
    Darren
    Darren
    • Topics: 37
    • Replies: 220
    • Posts: 257

    Hi Julius,

    The next update – due in a couple of weeks – will have a new scripting function called WITHINRANGE() which will make this type of calculation much easier! In the meantime this will calculate when the close is within 2% above/below the upper band of the Hurst Dominancy Envelope (using the default 40 bar/95% settings):

    U1 = DOMENV(DEFAULT=UPPERBAND);
    CLOSE() > (U1 * 0.98) and
    CLOSE() < (U1 * 1.02)

    Here’s an example with the above formula used in a Show Bar and Custom Bar Colour scheme:

    Capture

    #50511
    Darren
    Darren
    • Topics: 37
    • Replies: 220
    • Posts: 257

    To put the values in a watchlist column simply divide the close by the upper band value:

    U1 = DOMENV(DEFAULT=UPPERBAND);
    CLOSE() / U1

    The cells can then then be coloured by right-clicking on the header and selecting Custom Labels. Here the cells are red when more than 2% away from the upper line:

    Capture

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