if close is 6 month high, filter only those less than 2 x atr change (attempt)


New member
So I'm trying to write a custom study for a script.
The script is looking for stocks within X% of 6 month high.
However the custom study wants to add a condition to the above script.

If today's close pricing is the new 6 month high, and
today's change is 2x ATR, I want it be filtered out from the scan.

To get stocks within x percent 6 month high, I am using the study, near high lows

Now I just need a condition that if today's close is the new 6 month high, I want if filtered from my scan if change is 2x ATR;

Here is my attempt, those I am a little shaky with the if statement as I don't have an else clause.

def high = Highest(close[1], 6);
def is_high = close equal to high

def length = 14;
def atr = average((high - low)/close, length);
def cond = change < 2 * atr;

plot scan = if is_high   cond else 0;

In this situaton I will need to use two aggregations, month and daily.
ATR is using daily, while high is monthly.
How should I handle this?

Thank you.

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
192 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.