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