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There is a code on tradestation that I would like help to make a thinkscript, or sierra charts. Its called breakout of X bar high. And also breakout of X bar low. Standard on tradestation. Couldnt find anything for it on ToS or sierra. This is how tradestation defines it.
Brkout of X Bar High marks the high of any bar whose High is higher than the High of any of the previous bars referenced by the study. The Length input specifies the number of bars considered by the study.
Brkout of X Bar High is most useful in trending markets and can indicate upward trending markets. Several bars marked consecutively could be an indication of a surge in price suggesting a possible breakout pattern. However, several bars marked consecutively may also indicate a trend is topping out and a reversal is imminent.
I was thinking that, or price channel, but I didn't want the dots all over the charts on every candle. Just where the breakout bar is. But it is an option. Thanks
I don't have or code TOS but it is easy to modify don. channel code to draw dot only at where upper channel value = bar high or lower channel value = bar low.
