Previous day 5' candle range?

[lostcoastsurf]

Is there a "clean" way to find the range for the first five minute candle of the previous day? I would actually like to find the average 5' candle range for the first 1/2 hour of trading the previous day.

 

[halcyonguy]

Is there a "clean" way to find the range for the first five minute candle of the previous day? I would actually like to find the average 5' candle range for the first 1/2 hour of trading the previous day.

what do you mean by range, high - low ? or body height?

what do you want to see?
a label with the average number from yesterday?
a lower chart with a line ?

 

[SleepyZ]

what do you mean by range, high - low ? or body height?

what do you want to see?
a label with the average number from yesterday?
a lower chart with a line ?

I had done this before dinner, but hadn't had a chance to post. Perhaps this will help.

input daysago    = 1;
input range      = 6;
input agg        = aggregationPeriod.FIVE_MIN;

def rth          = if GetDay() != GetDay()[1]
                   then 0
                   else if Between(GetTime(), RegularTradingStart(GetYYYYMMDD()),
                                              RegularTradingEnd(GetYYYYMMDD()))
                   then rth[1] + 1
                   else rth[1];
def rangeavg = if GetDay() == GetLastDay() - daysago and
                  Between(rth, 1, range)
               then (Sum(high(period = Agg), range) - Sum(low(period  = Agg), range)) / range
                   else rangeavg[1];
AddLabel(1, "5m Avg, 1st 30m: " + AsDollars(rangeavg), color.yellow );

 

[lostcoastsurf]

I had done this before dinner, but hadn't had a chance to post. Perhaps this will help.

I'm not sure the sum of the highs minus the sum of the lows divided by the count is equal to the average size of the 5' candles? But thanks, I'll check it out.

 

[lostcoastsurf]

what do you mean by range, high - low ? or body height?

what do you want to see?
a label with the average number from yesterday?
a lower chart with a line ?

I've just been looking at the larger candles in the day as a trailing stop distance. I find I get stopped out if my stop is too tight and I was thinking the opening 5' candle range might help.

 

[halcyonguy]

I had done this before dinner, but hadn't had a chance to post. Perhaps this will help.

hi sleepyz,
i had an idea what the op was asking for. but sometimes i ask questions to get them to elaborate , to help others understand and help.
i asked 3 questions, and he didn't answer any of them. oh well, he did explain what he is trying to do, @lostcoastsurf , thank you for that.

that is some interesting logic in the rangeavg formula. ( if GetDay() == GetLastDay() - daysago and .... )
i think your formulas are 1 bar off. rth starts at 0, so when rth=6 , it is the 7th bar, not the 6th.

i changed the initial rth to be 1 , and added a test bubble to display some values

input daysago    = 1;
input range      = 6;
input agg        = aggregationPeriod.FIVE_MIN;

def rth          = if GetDay() != GetDay()[1]
#                   then 0
                   then 1
                   else if Between(GetTime(), RegularTradingStart(GetYYYYMMDD()),
                                              RegularTradingEnd(GetYYYYMMDD()))
                   then rth[1] + 1
                   else rth[1];
def rangeavg = if GetDay() == GetLastDay() - daysago and
                  Between(rth, 1, range)
               then (Sum(high(period = Agg), range) - Sum(low(period  = Agg), range)) / range
                   else rangeavg[1];
AddLabel(1, "5m Avg, 1st 30m: " + AsDollars(rangeavg), color.yellow );

#------------------
def y = (GetDay() == GetLastDay() - daysago) and Between(rth, 1, range);
#---------------

def diffday = if getday() != getday()[1] then 1 else 0;
def rng = high-low;
def n = 6;
def avg = average(rng, n);

addchartbubble(1, low,
rng + " r\n" +
avg + " avg\n" +
rth + " rth\n" +
y + " y\n" +
rangeavg + " rnga\n"
, (if rth == 6 then color.yellow else color.gray), no);
#

 

[lostcoastsurf]

what do you want to see?
a label with the average number from yesterday?
a lower chart with a line ?

-The average size of the 5' candle for the first 30' of the previous day
-Yes just a label
-No lower chart