The Lowest Bars Ago function returns the number of periods
that have passed since the lowest value within the selected `data array.' It's
important to note that this includes the entire data loaded into the chart. For
example, assume you have six years of history loaded in your chart. If you were
to code the lowest bars ago function with the data array set to the close,
Metastock will search through the whole six years for the lowest closing value.
It will then count the number of periods since this occurred and return this
value.
SYNTAX Lowest(Data Array)
Data Array _ The lowest value of this data array will be
found in the chart.
EXAMPLE
The following formula identifies the number of periods that
have occurred since the lowest value of the close was recorded. This is the
lowest value taken from the entire loaded history of the chart:
LowestBars(C)
In the formula above:
Data Array = C
APPLICATION
A more useful application of this example would be:
LowestBars(C)>100
This formula identifies the number of bars that have passed
since the Lowest closing price of the security was recorded. Metastock then
checks whether or not this number is greater than 100 (denoted by `>100'). This
formula would be useful if we wanted to ensure that a security's all time lowest
closing price had not occurred recently.
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