I have a chart with weekly price bars and a ShowPlot tool. The script for the ShowPlot tool is:
HIGHESTHIGH(BARS=52)
The script is showing the high looking back 52 bars. I tried to add the same ShowPlot tool and script to a RIC tool. Something is not right. Please see the picture attached. I want to plot the highest high on the RIC tool looking back 52 bars the same way as on the price bars.
I did try a more detailed script on the RIC which did not work:
As a note: the same ShowPlot tool and highesthigh script worked as planned on a volume tool, but I ran into the same issue on an rsi and macd as with the RIC.
As the RIC is on the chart of AAPL there’s no need to use the GetData function - that’s only needed when you you are referencing a different dataset. Because the RIC() function outputs Open, High, Low, and Close values the HighestHigh will use the high value by default, creating the gap in the Show Plot.
a small change to your script would solve the problem. In the RIC setting set the Normalization to “None” (DATESEL=None), this setting could be better.
Hi Darren. Thank you. This confirms that I have been incorrectly calculating a few things using Optuma.
All I want to do is plot the current position of a tool, be it the RIC or ADL, in its 52-week range. I tried a stochastic of the RIC, however, as you pointed out the RIC only plots “closes,” so the stochastic tool did not work when applied to the RIC tool.
Here is the script I wrote to place the RIC into a stochastic formula. Please let me know if there is a more efficient or easier way to do this. I plan on doing this with a few tools and them manipulating the results in large watchlists. Perhaps even average a few of the results. Thank you.