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Open Feature request MC-1848

Alternative Intra-bar Price Movement Assumptions

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Description

Support alternative Intra-bar Price Movement Assumptions as described below:
If the difference (distance) between Opening price and High is smaller or equal to difference (distance) between Closing price and High, the intra-bar price movement is assumed to be in the order of Open-High-Low-Close. Otherwise, it is assumed to be in the order of Open-Low-High-Close.

For example with O=1356, H=1360, L=1340, C=1357
Using the original assumptions, it will be: Open-High-Low-Close, total distance traveled: 4+20+17=41
Using alternative assumption: High-Open = 4, High-Close = 3, so it will be Open-Low-High-Close. Total distance traveled = 16+20+3=39

Alternative assumption in another words, takes the price movement order which travels the shortest distance.

Steps to reproduce this issue

N/A

Comments (2)
#0
user-offline.png  orad (orad)
Feb 02, 2015 - 07:46

In the alternative assumption, if (High-Open == High-Close) then the original assumption could be used.

#0
user-offline.png  JoshM (Jura)
Feb 08, 2015 - 01:32

Thanks Orad, this is a good feature request. It would be great if we can, for example, program our own intra-bar price movements since that would also allow for personal preferences.

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