Weekly Opening Range Watchlist

redart1021

New member
Hi,
I'm wondering if anyone knows a script that simply shows if a price is above, below, or inside the latest Fridays price range. It would update to always use the last Friday. It would be a column on a watchlist. I have tried coding it myself but I can't get it to work!

Hope that's clear!
Thanks
 

redart1021

New member
In case anyone stumbles upon this thread, I used a script from @tomsk (from thread https://usethinkscript.com/threads/previous-day-high-and-low-breakout-indicator-for-thinkorswim.154/) to come up with a non-automated script. Where OffsetDays you must count back the number of days from last Friday. I couldn't figure out how to make the indexing function a variable so you must manually enter it's value everyday. Better than nothing!
Code:
input OffsetDays = 1;
def MeasuredDay = GetDay() == GetLastDay();
def previousHigh = if MeasuredDay then high(period = AggregationPeriod.Day)[OffsetDays] else Double.NaN;
def previousLow = if MeasuredDay then low(period = AggregationPeriod.Day)[OffsetDays] else Double.NaN;


AddLabel(1, if close >= previousHigh
             then "Above"
             else if close <= previousLow
                  then "Below"
                  else "Inside",
             if close >= previousHigh
             then Color.GREEN
             else if close <= previousLow
                  then Color.RED
                  else Color.YELLOW);
 

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