Close top 25% of days range

[cubsrule17]

Hi Guys -

I'm trying to add a filter to my scanner that will only show stocks that close in the top 25% of the daily range.

Having some difficulty trying to figure this out.

Any help would be appreciated!

-Jonathan

 

[mashume]

something along these lines perhaps:

input n = 5;
def daily_range = Average(HIGH - LOW, n);
def Top_Quarter = HIGH - (daily_range * 0.25);
plot filter = if CLOSE > Top_Quarter then 1 else double.nan;

You can set n = 1 if you want just the precious day's range, but I thought the average range for the last n days might be good.

To go line by line:
1. input number of days to average range over
2. take the average for n days of the high - the low for the day
3. find the value for 25% below the high of the day
4. plot our filter as any stock that closes above the value from step 3

Have fun,
mashume

 

[cubsrule17]

Thanks, and since I'm new to thinkscript, this is something I can setup and add to the bottom of a screener?