Was the previous bar a 13-week closing high?

[Louis]

Hi,

Today is Tuesday, so looking at weekly price bars the previous bar is the last full week of data. I want to know if last week’s price bar printed a 13-week closing high using a watchlist.

To know if the current bar is a 13-week closing high we can use the script:

CLOSE() >= HIGHESTHIGH(BARS=13)

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CLOSE() >= HIGHESTHIGH(BARS=13)

I want to know about the last bar though, so I tried using the offset function thinking “is the previous bar >= to the 13-week closing high as of the previous bar”:

CLOSE()[1] >= HIGHESTHIGH(CLOSE(OFFSET=0), BARS=13)[1]

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CLOSE()[1] >= HIGHESTHIGH(CLOSE(OFFSET=0), BARS=13)[1]

This does not work. I tried a bunch of other scripts as well. Please let me know the best script to ask if the previous bar’s close was a 13-week closing high when it closed. Thank you.

[Darren]

Hi Louis,

You need to offset the entire signal:

Sig1=(CLOSE() >= HIGHESTHIGH(CLOSE(), BARS=13)); Sig1[1]

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Sig1=(CLOSE() >= HIGHESTHIGH(CLOSE(), BARS=13)); Sig1[1]

Alternatively, you can change the Date Range of the watchlist to only load the data to last Friday and not use the offset.

[Louis]

Hi Darren. Thank you. This works perfectly when I use the 13-bar range. I don’t know how to apply this when the range is All Time.

The attached chart shows weekly bars and a watchlist for the ticker ULTA. The current bar is the week in progress and printing an all-time closing higher. I can identify this using the script:

Sig1 = (CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All Time)) ; Sig1

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Sig1 = (CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All Time)) ; Sig1

I now want to know if the previous bar printed an all-time closing high, which it did. Offsetting the entire signal does not seem to work:

Sig1 = (CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All Time)) ; Sig1[1]

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Sig1 = (CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All Time)) ; Sig1[1]

I have the watchlist Date Range set to everything, so I am not sure how to ask if the previous week’s bar printed an all-time closing high.
Thank you.

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[Darren]

Hi Louis,

The Range = All-Time high is just a single price, so there’s no history. To get the all-time high as at a point in time (ie the previous week) use Range = All History:

Sig1=(CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All History)); Sig1[1]

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Sig1=(CLOSE() >= HIGHESTHIGH(CLOSE(), RANGE=All History)); Sig1[1]

Here’s the difference between the two plotted in a Show View:

[Louis]

Thanks Darren! Everything is working perfectly now. I appreciate your help very much.

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Darren

[Author]

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