Abbreviation: DayOpen
Category: Intraday Basic
Input Parameters:
| Name | Range | Default |
| Date Variable | Date | |
| Time Series | High | |
| Days Back | Int >= 0 | 10 |
Calculation:
If (Days Back = 0) then highest X since the start of the day
Otherwise highest X from the day N days ago
Where
X = Time Series
N = Days Back
Discussion:
Use this indicator to get the highest value since the start of the current day (Days Back = 0) or the highest value of any previous day (Days Back > 0). By default, the time series parameter defaults to High, which will return the highest price for the day. By changing the time series, the highest value of any time series can be calculated. For example, you could very easily compute the days highest value of the Stochastic %K.
It should be noted that when using a Days Back value of 0, the indicator will continue to change throughout each day as new highs are reached. However, using a Days Back value greater than 0 will result in the same value across an entire day due to the previous days high having already occurred.