Indicator purpose

Ham RecentCloses displays a sequence of symbols indicating whether each Close price was higher, lower, or equal to the Previous Close. A '+' indicates that the Close was higher than the Previous Close; a '-' indicates that the Close was lower than the Previous Close; a '.' indicates that the Close was the same as the Previous Close. The default Input value Length specifies how many bars of data to display. Also, this indicator will look for a trend and change the color to Green for a bullish trend, or Red for a Bearish trend. A trend is indicated when the last x bars (specified by input TrendSize) were all in the same direction.

Settings:General

• Maximum number of bars study will reference - default is Auto-detect.
• Update on every tick - default is Checked - you may Uncheck to improve performance, but the indicator will not be recalculated until the end of the current bar.
• Load additional data for accumulative calculations - default is unchecked.

Settings:Inputs

• Length specifies how many bars of Close prices to compare - default is 10.
• TrendSize specifies how many Close values in a row must all be above (bullish) or below (bearish) the Previous Close. Default is 3 - which means that the last (most recent - and right-most) three values must all be the same to be designated as a trend.

Settings:Alerts

This Indicator does not currently support Alerts, but that may be a feature of a future release.

Examples:

This indicator displays a series of 10 (or whatever value specified in Length) symbols, left to right, indicating whether the Close is greater than ('+'), equal to ('.'), or less than ('-') the Previous Close. The values for the most recent 10 (or whatever) bars are displayed. Note that these are Previous Close-to-Close values - and NOT the color of the candlestick (see the EMBX chart and notice that the two candlesticks preceding the last one were red - but - they both closed higher than the previous candlestick). The following RadarScreen shows some examples, including bullish trending (3 or more '+' values at the end), bearish trending (3 or more '-' values at the end, and no-identified-trend. The charts below give the details.

HamRadar01 is not guaranteed for any particular purpose. Trading involves a high level of risk - and neither Prototech, Inc., nor Nelson Crowle (HamFon) will be liable for any losses that you incur. HamRadar01 is licensed for individual usage - you may use it on any number of machines, but only with the TradeStation Customer Number that you provide when you order. You may not reverse engineer HamRadar01, or share it with other users.

If you have any questions, please email me.