Three-Day Low/High
Three-Day Low/High (3DL/3DH)
A trailing stop from Robert C. Miner's Dynamic Trading. A three-day low is not simply the lowest low of the last three bars. Miner defines it as "the lowest price of the three days from the extreme high, inclusive of the high and exclusive of inside-days." The three-day high is the mirror image.
How it works
- From the current bar, the script walks back until it finds three counted (non-inside) bars. Inside bars are included in the span but are not counted, so during congestion the stop doesn't tighten on every bar.
- 3DL is the lowest low of that span, and 3DH is the highest high.
- A close above the previous bar's 3DH switches to the up state: the stop is the 3DL, drawn in green below price. A close below the previous bar's 3DL switches to the down state: the stop is the 3DH, drawn in red above price.
- The values are recalculated every bar, so the stop trails as the trend runs.
Use
Use it as a protective stop that tightens as the trend runs. Miner: "If a trend is valid... the market will usually not retrace the range of the prior three days."
Notes
- The backward scan is capped at 100 bars.
- On the live bar, the value updates with each tick until the bar closes.
A trailing stop from Robert C. Miner's Dynamic Trading. A three-day low is not simply the lowest low of the last three bars. Miner defines it as "the lowest price of the three days from the extreme high, inclusive of the high and exclusive of inside-days." The three-day high is the mirror image.
How it works
- From the current bar, the script walks back until it finds three counted (non-inside) bars. Inside bars are included in the span but are not counted, so during congestion the stop doesn't tighten on every bar.
- 3DL is the lowest low of that span, and 3DH is the highest high.
- A close above the previous bar's 3DH switches to the up state: the stop is the 3DL, drawn in green below price. A close below the previous bar's 3DL switches to the down state: the stop is the 3DH, drawn in red above price.
- The values are recalculated every bar, so the stop trails as the trend runs.
Use
Use it as a protective stop that tightens as the trend runs. Miner: "If a trend is valid... the market will usually not retrace the range of the prior three days."
Notes
- The backward scan is capped at 100 bars.
- On the live bar, the value updates with each tick until the bar closes.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.