Abbreviation: DayOpen
Category: Intraday Basic
Input Parameters:
| Name | Range | Default |
| Date Variable | Date | |
| Time Series | Low | |
| Days Back | Int >= 0 | 10 |
Calculation:
If (Days Back = 0) then lowest X since the start of the day
Otherwise lowest X from the day N days ago
Where
X = Time Series
N = Days Back
Discussion:
Use this indicator to get the lowest value since the start of the current day (Days Back = 0) or the lowest value of any previous day (Days Back > 0). By default, the time series parameter defaults to Low, which will return the lowest price for the day. By changing the time series, the lowest value of any time series can be calculated. For example, you could very easily compute the days lowest 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 lows 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 low having already occurred.