Abbreviation:
Category: Crossover & Breakout Identification
Input Parameters:
| Name | Range | Default |
| Low Price | Low | |
| Periods | Int >= 1 | 5 |
Calculation:
If (X < Y) and (most recent previous period where X did not equal Y, X was greater than Y) then 1
Otherwise 0
where
X = Low Price
Y = Lag(PriceLow(Low Price, Periods), 1)
PriceLow represents Price Low
Lag represents Lag
Discussion:
Indicates the period when a Low Price has just broken out below its Low Channel. Because a signals a drop in the price, it is traditionally used as a signal to exit a long position or to enter a short position.