get value for "previous candle close"

[tatl]

Hi hi, new here. Hope this question isn't too obvious. I have an indicator that works heavily with "open", but I want to try and replace that value with "previous candle close". Is there an input or line of code that gets this value easily?

best

 

[Svanoy]

@tatl
close[1] or GetValue(close,1), depends on the context.

Why do you want to change it? You're opening yourself up for skewed results and in the case of strategies impossible trade prices.

 

[tatl]

@tatl
close[1] or GetValue(close,1), depends on the context.

Why do you want to change it? You're opening yourself up for skewed results and in the case of strategies impossible trade prices.

thanks for the reply. appreciate it. this community seems nice and active!

part of the indicator's equation is to tally "the percent that price moved in the bar, between high and low, relative to the open price".

however i'm realizing that i'm not entirely capturing all the price data if i do that, since there can be movement between the close of the previous bar and the open of the current one.

so instead, i want to express "the percent that price moved (between high and low) relative to the previous close"

 

[tatl]

@Svanoy

even between candles where the prev close was much higher than the current open, replacing "open" with either of these values in my formula didnt seem to change anything. any advise ?

 

[Svanoy]

@tatl
Would have to see the code in which it is being used.

 

[tatl]

@tatl
Would have to see the code in which it is being used.

awesome ok here you are

def percentmoved = (((high-low)/open) * 100);

 

[Svanoy]

@tatl
Replacing open with close[1] does produce a different value for percentmoved.

Are you rounding percentmoved by chance?

 

[tatl]

@Svanoy you're right it does produce a different value ! i was mistaken !

 

[tatl]

@Svanoy quick question for you if you don't mind me prodding more...

lets say I had a simple bar chart indicator in blue, but I wanted it to print a yellow bar behind the blue bars which was an average of the last three blue values. what would the code look like?

and then further.....what if i wanted those yellow bars to only print Every Three Bars? so it would go blue - blue - blue/yellow - blue - blue - blue/yellow.

much obliged ...

 

[halcyonguy]

lets say I had a simple bar chart indicator in blue, but I wanted it to print a yellow bar behind the blue bars which was an average of the last three blue values. what would the code look like?

and then further.....what if i wanted those yellow bars to only print Every Three Bars? so it would go blue - blue - blue/yellow - blue - blue - blue/yellow.

this draws yellow candles, every x bars, that are an average of the past x bars.

can pick how many bars to skip.

can pick an offset for the prices used in the average.
. if 0 is used, the average starts on the current candle.
. if 1 is used, the average starts on the previous candle.

can turn off the main price candles.

this uses addchart(), to draw candles

# skipcntavg

def bn = barnumber();
def na = double.nan;

input skip = 3;
input offset_average = 0;
input hide_main_price_candles = no;

HidePricePlot(hide_main_price_candles );

def x = if (bn % skip == 0) then 1 else 0;

def opnx = if !x then na else average(open[offset_average], skip);
def hix = if !x then na else average(high[offset_average], skip);
def lox = if !x then na else average(low[offset_average], skip);
def clsx = if !x then na else average(close[offset_average], skip);

AddChart(high = hix, low = lox, open = opnx, close = clsx, type = ChartType.CANDLE, growcolor = Color.yellow);

input test1_bubbles = no;
addchartbubble(test1_bubbles, low, bn , color.yellow, no);
#

with main price candles turned off

ref - draw candles. can pick solid or hollow.
https://usethinkscript.com/threads/...ower-section-in-thinkorswim.10428/#post-92412

 

[tatl]

@halcyonguy wow thanks !! that is crazy. i may find some use for that ....

i didn't communicate properly....my indicator is a simple

.SetPaintingStrategy(paintingstrategy.HISTOGRAM);

indicator. ... similar to volume

that's what i meant by bar chart

 

[tatl]

@halcyonguy this is the indicator on which i want to perform this

def percentmoved = (((high-low)/open) * 100);
plot volumeperpercent = (volume/percentmoved);
volumeperpercent.SetPaintingStrategy(paintingstrategy.HISTOGRAM);

not sure how to port over what you wrote for it

 

[desiben]

this draws yellow candles, every x bars, that are an average of the past x bars.

can pick how many bars to skip.

can pick an offset for the prices used in the average.
. if 0 is used, the average starts on the current candle.
. if 1 is used, the average starts on the previous candle.

can turn off the main price candles.

this uses addchart(), to draw candles

# skipcntavg

def bn = barnumber();
def na = double.nan;

input skip = 3;
input offset_average = 0;
input hide_main_price_candles = no;

HidePricePlot(hide_main_price_candles );

def x = if (bn % skip == 0) then 1 else 0;

def opnx = if !x then na else average(open[offset_average], skip);
def hix = if !x then na else average(high[offset_average], skip);
def lox = if !x then na else average(low[offset_average], skip);
def clsx = if !x then na else average(close[offset_average], skip);

AddChart(high = hix, low = lox, open = opnx, close = clsx, type = ChartType.CANDLE, growcolor = Color.yellow);

input test1_bubbles = no;
addchartbubble(test1_bubbles, low, bn , color.yellow, no);
#

with main price candles turned off

ref - draw candles. can pick solid or hollow.
https://usethinkscript.com/threads/...ower-section-in-thinkorswim.10428/#post-92412

How do we read the bubble numbers? I see its named as test. Does it mean that its beta?

 

[halcyonguy]

How do we read the bubble numbers? I see its named as test. Does it mean that its beta?

that bubble is just for debugging. it shows each bar barnumber in a bubble.

you change a value of the input variable, from no to yes.
input test1_bubbles = no;

studies > edit studies >
find the name of this study and click on the gear symbol to the right of the name. then look for the variable name and change the value.

 

[desiben]

Thanks just like this in the bubble can we show on the on going Volume